You see, Brand Equity is the value built up in a brand. It is an intangible asset built up over time using Marketing Management tools to consistently meet or exceed customer expectations.Absent of Brand Equity, the business' product or service is just a commodity . . . vulnerable to substitution by "me-too" products, typically sold based on lowest price, and rarely sold at a profitable premium like a branded product.
So, "Who needs Marketing Management?" Whether a business "owns the aisle" at a big-box retailer, or is a small family owned shop, they are all in business to make a profit. They all need Marketing Management . . . they all need to work ON their business . . . however, most are caught up in the fury of merely working IN their business instead. To remedy this, Jeff specializes in helping clients work ON their business, rather than work IN their business through his expertise in:
Marketing Management is critical to help growing businesses build precious "Brand Equity" in the marketplace, but avoid costly blunders that wastes important resources. In short, Marketing Management "tunes-up" the portion of a business that generates revenue and growth. However, often a "dashboard" must first be developed so management can regularly monitor business performance (surprisingly, many business owners only note their business performance once a year - on April 15th. The rest of the year they equate being busy with being profitable). The measurable goal is to improve business profits.
Business Development involves that entrepreneurial "hands on" initiative to drive the business forward with vision and a keen sense for detail. In short, Business Development evaluates the connection between where the business is today and where it is going, then sets a plan for the desired future. Only then can clients work ON their business, spending each next day moving the business closer and closer to the plan of where it should be . . . instead of leaving their future up to chance.
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CLASSICAL MARKETING EXPERTISE IN:
• Brand Equity – an intangible asset based upon the perceptions of the consumer. Basically, the value a consumer places on a brand; if it is trusted, the brand has positive equity. Defining and measuring Brand Equity as precisely as possible, systematically drives revenue and profit for the business. It creates shareholder value, competitive advantage, and growth opportunities for the business. In contract, absent of Brand Equity, the business' product or service is just a commodity . . . vulnerable to substitution by "me-too" products.
• Brand Positioning Statement/Elements – states the role of the brand in the consumer’s life, encompassing the brand positioning elements: Brand Background (what it brings), Brand Core Values (what it means), Brand Territory (competes in), Brand Personality (what it is), and the Brand Properties.
• Brand Strategy – action imperatives that must be implemented to achieve the brand vision. A plan rooted in the brand vision for the systematic development of a brand towards its agreed objectives. The brand strategy must influence the total operation of a business to ensure consistent brand behavior and brand experiences for consumers. Brand behavior or experiences inconsistent with consumers’ perception of the brand will dilute brand equity.
• Brand Vision – a critical planning statement that outlines what the brand will achieve in the future, including key milestones.
• Customized Business Plans - Business Plans are a means to achieving aggressive goals: raise capital, acquire a company, launch a division, court venture capitalists, and to meet growth or expansion requirements. Jeff has delivered the most complete and professional service focused specifically on creating a top-notch business plans for over 18 British companies expanding operations to the USA. Development of this vital and effective document is based on a partnership relationship with clients . . . combining their business vision and experience with our marketing management and business development expertise.
• Market Analysis – an outline of market dimensions including: trends, market size, growth rate, cost structure, profitability, distribution channels and key success factors.
• Market Definition – a progressively narrowing scope of the total market, then potential market, available market, qualified available market, target market, and finally the penetrated market. This is the first step of Market Analysis.
• Market Segmentation – identifies the portions of the market that are different, allowing the business to satisfy the needs of potential customers better than the competition. However, the segments must be practical, evaluated against the following criteria: Identifiable, Accessible, Substantial, Unique Needs, and Relatively Stable.
• Marketing Concept – the core philosophy directing the business to analyze customer’s needs and then make decisions to satisfy those needs better than the competition.
• Marketing Mix – the framework around which marketing decisions are made, centering on four controllable elements: product, price, place (distribution) and promotion. The goal is to center these elements on customers in the target market to create a positive response and perceived value. Building and protecting brand equity is the focus of the Marketing Mix.
• Marketing Process – a tool that enables the business to discover unfulfilled customer needs and bring to market a product or service to satisfy those needs. The sequence of steps includes: Situation Analysis, Marketing Strategy, Marketing Mix Decisions, and Implementation & Control.
• Marketing Strategy - the broad marketing thinking that will enable an organization to develop its products / services and marketing mixes in the right direction, consistent with overall corporate objectives. Tools used for this include: SWOT Analysis, PEST Analysis, BCG Growth-Share Matrix, Competitor Analysis, Experience Curve, Value-Added Chain, and Scenario Planning to expose management blind spots.
• Multiple Brand Management Strategy – development and implementation of different brand strategies for multiple products. These strategies are: Single Brand Identity, Umbrella, Multi-brand Categories, and Family of Names.
• New Product Development – the first stage of an overall strategic process of product life cycle management used to maintain or grow market share . . . noting that any business' primary product will eventually mature, then decline in sales. In contrast, Jeff utilizes his proven "Defend / Gap Fill / Improve / WOW"™ management technique to plan for the business' sustained sales and profit growth.
• New Product Development Process - process of generating new products. This process begins with idea generation and concludes with commercialization. Based on best practices, it provides guidelines and tools that helps clients achieve: A better success rate; Increased speed to market; and More effective execution . . . delivering: Increased Benefits + Decreased Costs = Increased Profits!
• Pricing Strategy - covers the pricing of a product or service, including pricing objectives and how to achieve them, pricing across different channels of trade, and implications of the Robinson-Patman Act.
• Product Line Positioning - how a product line is perceived in the minds of target customers such that it is clearly differentiated from the competition. The associated marketing mix is developed to place the product line, in the minds of consumers, as close as possible to their ideal (in terms of desired features and important attributes).
• Product Road Map – contains forward looking information about product direction, with new projects for proposed features/products typically listed on a per quarter basis. Aggregation of the projects tie into a strategic goal with the goal to drive key performance indicators (KPIs).
• Sales Training, "P.K." Training (Product Knowledge), & Seminars – no matter what business you are in, who your customers are, or the size of your business, the fact is that you need a sales training program. A concentrated and dedicated sales training program makes so much sense, no matter how large or small the company may be. Leading businesses understand that this can often mean the difference between success and failure in today's competitive business environment.
• Target Market Selection – a tool for tailoring the marketing mix by selecting target market segments using one of the following targeting strategies: Single Segment Strategy, Selective Specialization, Product Specialization, Market Specialization, or Full Market Coverage. Clients seeking to enter a market are recommended to target the most attractive segment that matches their capabilities, and then expand using one of these five strategies listed above.
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