Intro to Marketing_Herzenstein_Date_040710

Intro to Marketing_Herzenstein_Date_040710 -...

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Promotion continued TiVo slides: - Tried to find commercials that are “TiVo proof” o Example: banner on bottom of screen during show Sales promotion: - Know a few of these in depth Great rebate runaround handout - Sales promotion Cash for clunkers: - Changed sales dramatically—successful in marketing sense Effective communication continued: - Feedback is important o Jet Blue changed their product based on feedback Mike Naegle (sp?) Guest Speaker from Chase—Ink 1. Evaluate Market Opportunity (sizeable, can be successful?) - 27 million small businesses and growing fast o $4-5 trillion a year on non payroll items o Strong growth potential because not a lot spent on cards - Brand strength (by small business owners) shows Chase at disadvantage - Self Assessment of products for small business: positioning map 2. Focus on the Customer (how can we better communicate with them?) - Segmented existing customers by profitability o Target customers= more established businesses - Want to know: insight on who customers are, emotional mindset (most important) and
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Unformatted text preview: spoken/unspoken needs-5 Whys?-What they did: Deep dive into emotional needs, talked to 100s or business owners, quantitative evaluation-3 categories in how think of their needs: o Keep them balanced o Keep them moving o Keep happy 3. Differentiate and Innovate (understand of competitors and their dynamic)-6 segments: o High, moderate and low spending (3 transactors) o High, moderate and low spending (3 revolvers) Focus on increasing spending revolvers Created a new brand to give unique identity and elevate how small businesses think of Chase-Ink from Chase-“powerful payment tools for savvy small business owners to seize opportunities” 4 products to meet needs:-High cash flow management-Moderate cash flow management-High spend capacity-Moderate spend capacity Advertising: 1 st for Chase last fall (tested 2 top campaigns) PR was a HUGE part of launch...
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Intro to Marketing_Herzenstein_Date_040710 -...

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