IOE 422 W2010 Class 13 030910

IOE 422 W2010 Class 13 030910 - Winter 2010 Kurt Skifstad

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Unformatted text preview: Winter 2010 Kurt Skifstad (skifstad@umich.edu) I O E 4 2 2 E n t r e p r e n e u r s h i p 1Class 10 1 Class #13 Marketing and Sales Kurt Skifstad skifstad@umich.edu Class13 1 Winter 2010 Kurt Skifstad (skifstad@umich.edu) I O E 4 2 2 E n t r e p r e n e u r s h i p Administrative Next Class (Th 3/11) Project 1 returned Project 2 assigned 2Class 13 2 Winter 2010 Kurt Skifstad (skifstad@umich.edu) I O E 4 2 2 E n t r e p r e n e u r s h i p Click to edit Master subtitle style Marketing 101 Because its purpose is to create a customer, the business has two basic functions: marketing and innovation. Marketing and innovation produce results: all the rest are costs. Peter Drucker 3Class 13 3 Winter 2010 Kurt Skifstad (skifstad@umich.edu) I O E 4 2 2 E n t r e p r e n e u r s h i p Marketing is a set of activities with the objective of securing, serving, and retaining customers getting the right message to the right customer segment via the appropriate media and methods defining the product offering and communicating its value to the customers 4Class 13 4 Winter 2010 Kurt Skifstad (skifstad@umich.edu) I O E 4 2 2 E n t r e p r e n e u r s h i p Conversations Markets are Conversations 5Class 13 5 Search Acquire Use Maintain Dispose Design Build Sell Service The Company The Customer Winter 2010 Kurt Skifstad (skifstad@umich.edu) I O E 4 2 2 E n t r e p r e n e u r s h i p Conversations Marketing is Managing the Conversation 6Class 13 6 Search Acquire Use Maintain Dispose Design Build Sell Service The Company The Customer Marketing: Understand Monitor Direct Shape Winter 2010 Kurt Skifstad (skifstad@umich.edu) I O E 4 2 2 E n t r e p r e n e u r s h i p The Marketing Plan 1. Objectives 2. Market Segmentation 3. Product Offering 4. Market Research / Market Strategy 5. Marketing Mix (4 Ps) 6. Customer Relationship Management 7Class 13 7 Winter 2010 Kurt Skifstad (skifstad@umich.edu) I O E 4 2 2 E n t r e p r e n e u r s h i p 1. Marketing Objectives Key objectives of the marketing program, may include: Sales goals sell 1000 units and/or $3MM in Q4 10 Market share 5% of the market in the first year Profitability profitable by Q4 11 Geographic plans sell 55 projects in MI, IL, OH, and IN Customer Acquisition Goals 8Class 13 8 Winter 2010...
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IOE 422 W2010 Class 13 030910 - Winter 2010 Kurt Skifstad

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