The length of this chapter, or more properly, the brevity of this chapter, will probably alienate every marketing professional, and for good reason. The subject of marketing is clearly the broadest discipline covered in any of the chapters in this collection. As one example of the scope of marketing, the site http://heidicohen.com/marketing-definition, provides a list of 72 different definitions of marketing. As a further example of the scope of marketing, the list shown below shows the areas of expertise of one marketing company.
Marketing Strategy Messaging Platforms
Brand Management Marketing Plan Creation
Project Management Event Management
Product Management Product & Company Launches
Innovation & Insights Startup Marketing
Marketing Research Personal Development
Website & Social Media Analysis Content Development
Public Relations Competitive Analysis
Corporate & Marketing Communications Video Production & Photo Shoots
Channel Marketing Social Media Strategy
Marketing Automation & CRM Social Media Execution
Website Design PPC, SEO, SEM
Graphic Design Mobile Marketing
As extensive as this list is, there are many more disciplines that could be listed. Finally, marketing represents the largest course of study in most business schools. This chapter does not begin to scratch the surface on any of these areas. Instead, the eighteen articles in the four sections discuss common pitfalls and basic considerations that are often missed. The sections and articles included in this chapter are listed below along with a quick summary of each.
Probably, most experienced marketers could add an article or two to this listing as well. The four sections and their associated articles considerably overlap. Many of the articles could have been placed in different sections.
Adding to the potential confusion, several of the articles in this chapter could have easily been placed in the Sales, Customers, Strategy, and Competition chapters as well. In turn, some of the articles in those chapters could have easily been placed in this chapter.
Finally, the area of Product Marketing is not addressed in this chapter. That subject, with its direct ties to Product Development activities, is addressed in the Development chapter of this collection.
Chapter Sections and Summaries
It is easy to jump into the host of tactical marketing issues and unconsciously assume some of the “givens.” Often, the target market is just assumed to be known without giving some objective high-level thought.
It is natural to compare a new offering to existing competitive alternatives and miss the point that competitors are also making comparisons and planning new offerings too.
The product launch is a welcomed event representing the completion of the development tasks. However, it must be remembered that it also represents the beginning of an entirely new set of challenges.
Carefully construct your messages in terms of what you want your customer to hear and remember, and not on what you want to say. There can be a huge difference.
Chapter Articles and Summaries
Introduction to Marketing
Marketing is the widest range of all business topics; it is easy to miss a few basic concepts.
Aim, Ready, Fire
First aim for your initial market and then get ready for it.
Look in the Mirror First
Marketing needs to ask some tough basic questions before prospects do.
Look Outside Too
It is easy to fall into the trap of “group think” and miss issues until after product announcement.
Bigger Pies are Better
Long-term growth is more easily achieved by focusing on expanding served markets.
The Middle is Nowhere
Do not attempt to serve every segment in a large market. Instead focus on a segment.
Turn the Tables
Develop strategies to offset potential negative comments before they even occur.
Keep it Simple
Keep the buying choice simple and straightforward to avoid confusing the customer.
Table Stakes or Options
Premium features quickly migrate to today’s standard features requiring constant repositioning.
Make a Claim
Make realistic claims about your company to help customers make favorable comparisons.
Saturn Five or Bottle Rocket
Launching a new product can be very exciting, but can also have significant negative impacts.
Tarzan was Smart
New product announcements can cause short-term revenue slumps
Beware of New Products Attraction
A successful product launch can result in delayed revenue.
The Launch is the Middle
A successful product launch only sets the stage for the revenue producing follow up activities.
It's the Forest, Not the Trees
Don’t initially confuse your audience with details; sell the fundamental value proposition first.
What Not How
Don’t waste your time telling customers how good you are. Explain how you provide them value.
What Will They Remember
Paint a simple picture that encapsulates the value that you provide.
They Know You First
Provide the means for prospects to educate themselves instead of just informing them.
The Name is Not the Game
Naming companies and products can be an arduous process. Providing value is more important.