Time for a Marketing Makeover?

Watch "reality TV" for more than ten minutes and you'll see that we are obsessed with making over everything from dining rooms to debutantes. Could it be - as Thomas Edison said - that restlessness and discontent are the first necessities of progress?

If that's the case, I have a couple of questions to ask you: Are you comfortable and content with your marketing plan and its results? Or, is it time for a Marketing Makeover?

When Is It Time?

Here are just a few indicators that a Marketing Makeover may be in order.

• Competitors are eating your lunch
• Channel partners are taking on new competing lines and/or cherry-picking yours
  
• Sales are lagging market growth
• You have new technology and new products but don't know where/how to sell them
• You're losing ground to lower-priced competitors
• Salient benefits of your product are not understood by the market
• Your goals are clear but the path to reach them is cloudy
• The market is changing and you're unsure if you have a viable offering

What Can Be Made Over?

When one makes over a family room, there is a limit to the number of elements that can be changed (color and texture, to name a few) and specific design principles that can be applied (don't even ask me to guess on these!).

So it is with a Marketing Makeover. You see, marketing is really comprised of only four basic elements - product, price, place and promotion - all within the context of the market place as seen through the eyes of the end-user. These are the only variables that can be changed. And, to be sure, there are principles that apply to these elements (I know A LOT about these).

Some of these principles include:

• Clearly defining one's market or segment
• Understanding end-user needs of each of the four P's- product, price, place and promotion.
• Creating and communicating consistently the key benefits to the market
• Value pricing versus cost plus
• Profitable market share growth
• Choosing cost-effective media to reach the market
• And on and on and on
  
  
  

YOU'RE INVITED... For KNOWLEDGE & BREAKFAST What: In the Know Business Resource Seminar sponsored by Consulting Resources Network, a group of Chicago area independent business professionals When: Nov 4th Time: 7:30 - 10:30AM   Where: Rosewood Restaurant 9421 Higgins in Rosemont Why Come: To learn more about a range of business management topics like E-business, unemployment compensation, protecting intellectual property, tax planning strategies, and, of course, marketing. There is absolutely NO FEE for this seminar and you are welcome to bring others from your company. The only catch is you MUST RSVP. Simply call or E-mail me for more details- Rose1Walter@MosaicMM.com or 847-483-5018. Hope to see you there!

I Wish It Were Simple

Don't those HGTV people make it look easy to transform a dumpy room (in just 2 days!) into an aesthetically pleasing retreat that puts the neighbor's house to shame? In our hearts and minds we KNOW it isn't easy. We know there is much more going on here - in designing and doing - than "reality TV" would lead us to believe.

Well, a Marketing Makeover is pretty much the same.

I wish it were simple, but we all know that market places and businesses (like family rooms) can be cluttered, messy, and sometimes, just plain ugly. It takes time and expertise to sort through the mess and "design" a strategy that will deliver knock-out executions and dazzling results.

Market research data can help sort through the mess.

"Designing" comes from taking what you've learned about the situation and then applying marketing and business principles to create solutions to minimize problems and exploit opportunities.

The execution of the design (the paint and wallpapering, if you will) happens when professionals (copy writers, engineers, database managers, etc.) understand the design and execute their individual pieces to create and sustain the business vision.

How to Get Started

If you're struggling with any of the above issues or elements, or are simply in need of learning more about marketing principles, give me a call and I can recommend some excellent written resources on any of the four P's. I even know of some excellent professionals who can help you with specific tactics. If you need a "design" you and I need to talk. A Marketing Makeover doesn't have to be overwhelming - let Mosaic help you!

Remember, Mosaic creates customers for business-to-business companies through specific project work, on-going retainer assignments or marketing coaching sessions.

Until next time...

Rosemary Walter
847-483-5018
Rose1Walter@MosaicMM.com

Quote of the Month

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"By Rosemary Walter of Mosaic Marketing Management, Inc. Please visit Rosemary's web site at http://www.MosaicMM.com for additional marketing articles and resources on marketing for business to business companies."