Recently, the term "heartfelt" has been frequently mentioned. Some colleagues who are criticized as not being heartfelt are puzzled: why are they so serious but still considered insincere? Actually, besides attitude, it has a lot to do with your thinking—you might lack a marketing thinking system!
The marketing thinking system determines and runs through the entire career of a marketer, so every marketer deserves to understand and learn it seriously. So, what exactly is the marketing thinking system model?
Foreword Marketing sits at the top of the marketing thinking system, overseeing the overall situation. What we often talk about, such as advertising and public relations, are specific methods in the communication part of marketing tactics. The way of marketing is for enterprises to create value for customers and build relationships with them, with the purpose of obtaining returns from customers. Its essence is the process of creating, communicating, delivering, and harvesting value to customers.
Understanding the Market and Consumer Needs
- Research the Market and Consumers 1. Research the Market
- Macro environment of the enterprise: target market's demographic, economic, natural, technological, political, and cultural environments.
- Micro environment of the enterprise: Porter's Five Forces analysis: enterprises, suppliers, intermediaries, competitors, and consumers.
2. Research Consumers
- Consumer behavior: what consumers do and how they do it.
- Applied psychology: why consumers do it.
- Manage Marketing Information and Customer Data 1. Obtaining Information and Data
- Market research: rational science, data about consumer needs.
- Consumer insight: emotional art, information about consumer desires.
2. Using and Managing Information and Data
- Build profitable and delightful customer relationships.
- CRM system: used for customer relationship management, establishing lasting and stable relationships with target customers.
- ERP system: used for supply chain management, establishing lasting and stable relationships with partners.
Marketing Strategy (STP)
The market is like a cake.
- Segmentation (Market Segmentation)
- Based on the macro environment, how should the cake be divided?
- Targeting (Target Market Selection)
- Considering the micro environment, which piece should I choose to eat?
- Positioning
- How to ensure that the piece I choose can only be eaten by me?
Marketing Tactics (4P)
- Product (Creating Customer Value) 1. Overall Product Concept Divided into four layers:
- A. Core product, e.g., apple;
- B. Substantial product, e.g., Red Fuji apple;
- C. Augmented product, e.g., guaranteed pollution-free Red Fuji apple;
- D. Psychological product, e.g., specially supplied guaranteed pollution-free Red Fuji apple.
2. Product Brand A combination of names, terms, marks, symbols, designs, etc., used to identify the product's producer.
3. Product Strategy Product mix, new product development, trademark registration, packaging, product life cycle.
- Price (Obtaining Customer Value) 1. Factors Influencing Price Enterprise strength, market positioning, pricing objectives, product cost, product characteristics, competitive conditions, demand factors, consumer psychological expectations, macro-control.
2. Pricing Strategies
- A. Simple pricing: pricing based on competitors, conventional pricing, imitative pricing, odd-even pricing, habitual pricing, discount pricing.
- B. Comprehensive pricing: considering market positioning, competitors, and consumer psychological expectations to set a reasonable price; product mix or business portfolio pricing strategies; considering values and consumer psychology.
3. Price Adjustment Strategies
- A. Price increases: reduce product quantity, reduce product volume, increase discounts, change packaging.
- B. Price decreases: be decisive and go all the way.
- Place (Delivering Customer Value) Value Delivery Process: Supplier → Manufacturer → Distributor → Wholesaler → Retailer → Customer
"A desolate sword poem, wandering to the end of years." Channels are the jewel in the crown of marketing. This short line with a few arrows may represent the stormy half-life of a salesperson.
- Promotion (Communicating Customer Value) 1. Sales Management Design sales team structure and size → Recruit salespeople → Train salespeople → Motivate salespeople → Supervise salespeople → Evaluate salesperson performance.
2. Sales Promotion
- A. Retail promotions for retail customers: samples, coupons, cash rebates, bonus packs, displays, contests, sweepstakes, games, sponsorships, etc.
- B. Trade promotions for channel partners: price reductions, allowances, return guarantees, limited-time/quantity discounts, rebates, premiums, promotional funds, advertising materials, etc.
3. Direct Marketing Personal selling, direct mail, catalog marketing, telemarketing, television marketing, self-service marketing, digital technology, online marketing, etc.
4. Advertising At this position in the marketing thinking system, advertising is a method of communicating through media, with the purpose of conveying information to the public, and its essence is a communication tool.
5. Public Relations At this position in the marketing thinking system, PR is a method of obtaining favorable publicity and building good relationships with the public, with the purpose of establishing corporate image and handling crises, and its essence is a communication tool.
Source: Buma Marketing People
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