Inventors
Marketing
Plan Extras
Use the following
tips along with the instructions and information included in The
Marketing Plan for Independent Inventors or The
Business Plan for Independent Inventors to
customer desires.
PRICE
/ QUALITY MATRIX SALES APPEALS
PRICE/QUALITY |
HIGH |
MEDIUM |
LOW |
HIGH |
"Rolls Royce" Strategy |
"We Try Harder" Strategy |
"Best Buy" Strategy |
MEDIUM |
"Out Performs" Strategy |
"Piece of the Rock" Strategy |
"Smart Shopper" Strategy |
LOW |
"Feature Packed" Strategy |
"Keeps on Ticking" Strategy |
"Bargain Hunter" Strategy |
MARKETING
PLAN - TIPS, TRICKS & TRAPS
1. Marketing Steps
-
Classifying Your Customers' Needs
-
Targeting Your Customer(s)
-
Examining Your "Niche"
-
Identifying Your Competitors
-
Assessing and Managing Your Available
Resources
-
Financial
-
Human
-
Material
-
Production
2. Marketing Positioning
-
Follower versus Leader
-
Quality versus Price
-
Innovator versus Adaptor
-
Customer versus Product
-
International versus Domestic
-
Private Sector versus Government
3. Sales Strategy
Use Customer-Oriented Selling Approach
- By Constructing Agreement
Phase One:
Establish Rapport with Customer - by agreeing to discuss what the customer
wants to achieve.
Phase Two:
Determine Customer Objective and Situational Factors - by agreeing on what
the customer wants to achieve and those factors in the environment that
will influence these results.
Phase Three:
Recommend a Customer Action Plan - by agreeing that using your product
will indeed achieve what customer wants.
Phase Four:
Obtaining Customer Commitment - By agreeing that the customer will acquire
your product.
Emphasize Customer Advantage
Must be Read:
When a competitive advantage can not be demonstrated, it will not translate
into a benefit.
Must be Important
to the Customer: When the perception of competitive advantage varies
between supplier and customer, the customer wins.
Must be Specific:
When a competitive advantage lacks specificity, it translates into mere
puffery and is ignored.
Must be Promotable:
When a competitive advantage is proven, it is essential that your customer
know it, lest it not exist at all.
4. Benefits vs. Features
The six "O's" of organizing Customer
Buying Behavior
ORIGINS of purchase: |
Who buys it? |
OBJECTIVES of purchase: |
What do they need/buy? |
OCCASIONS of purchase: |
When do they buy it? |
OUTLETS of purchase: |
Where do they buy it? |
OBJECTIVES of purchase: |
Why do they buy it? |
OPERATIONS of purchase: |
How do they buy it? |
Convert features to benefits using
the "...Which Means..." Transition
Sales Maxim:
"Unless the proposition appeals to
their
INTEREST, unless it satisfies their
DESIRES, and unless it shows them
a
GAIN--then they will not buy!"
Quality Customer Leads:
Level of need
Ability to pay
Authority to pay
Accessibility
Sympathetic attitude
Business history
One-source buyer
Reputation (price or quality buyer)
CONVERT FEATURES INTO BENEFITS
THE "...WHICH MEANS..." TRANSITION
FEATURES |
"WHICH MEANS" |
BENEFITS |
Performance |
|
Time Saved |
Reputation |
|
Reduced Cost |
Components |
|
Prestige |
Colors |
|
Bigger Savings |
Sizes |
|
Greater Profits |
Exclusive |
|
Greater Convenience |
Uses |
|
Uniform Production |
Applications |
|
Uniform Accuracy |
Ruggedness |
|
Continuous Output |
Delivery |
|
Leadership |
Service |
|
Increased Sales |
Price |
|
Economy of Use |
Design |
|
Ease of Use |
Availability |
|
Reduced Inventory |
Installation |
|
Low Operating Cost |
Promotion |
|
Simplicity |
Lab Tests |
|
Reduced Upkeep |
Terms |
|
Reduced Waste |
Workmanship |
|
Long Life |
BUYING MOTIVES
RATIONAL |
EMOTIONAL |
Economy of Purchase
Economy of Use
Efficient Profits
Increased Profits
Durability
Accurate Performance
Labor-Saving
Time-Saving
Simple Construction
Simple Operation
Ease of Repair
Ease of Installation
Space-Saving
Increased Production
Availability
Complete Servicing
Good Workmanship
Low Maintenance
Thorough Research
Desire to be Unique
Curiosity |
Pride of Appearance
Pride of Ownership
Desire of Prestige
Desire for Recognition
Desire to Imitate
Desire for Variety
Safety
Fear
Desire to Create
Desire for Security
Convenience
Desire to Be Unique
Curiosity |
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