We’ve seen demand for influencer marketing increase tremendously over the last 12 months as businesses are looking to engage in online conversations that impact them. Recently, we started a partnership with LEWIS PR, the global PR and digital communications agency, to support and enhance its data-driven influencer strategies. The key here is that it’s essential for communicators to know the people and content that matter most to a conversation, which is why we’re very excited to support LEWIS’ innovative and strategic work in influencer relations. We got to talking with the team at LEWIS about how today’s version of influencer marketing is still a new concept that has just recently started to develop into a more sophisticated practice.
Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Clipping is a handy way to collect and organize the most important slides from a presentation. Company and Marketing Strategy: Partnering to Build Customer Relationships A Global Perspective 2 Philip Kotler Gary Armstrong Swee Hoon Ang Siew Meng.
2-4 Companywide Strategic Planning: Defining Marketing’s Role Strategic Planning Strategic planning is the process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities. 2-8 Designing the Business Portfolio The business portfolio is the collection of businesses and products that make up the company. 2-9 Analyzing the Current Business Portfolio Analyzing the current business portfolio is the process by which management evaluates the products and businesses making up the company.
2-11 Steps in Analyzing the Current Business Portfolio Identify key businesses making up the company: A strategic business unit (SBU) is a unit of the company that has a separate mission and objectives that can be planned separately from other company businesses.
2-12 Steps in Analyzing the Current Business Portfolio Assess the attractiveness of various SBUs and decide how much support each deserves.
2-13 Analyzing the Current Business Portfolio The Boston Group Approach Growth share matrix is a portfolio planning method that evaluates a company’s strategic business units in terms of their market growth rate and relative share.
2-15 Analyzing the Current Business Portfolio The Boston Group Approach Stars are high-growth, high-share businesses or products requiring heavy investment to finance rapid growth. 2-16 Analyzing the Current Business Portfolio The Boston Group Approach Question marks are low-share business units in high- growth markets requiring a lot of cash to hold their share. 2-21 Developing Strategies for Growth and Downsizing Market penetration is a growth strategy increasing sales to current market segments without changing the product. 2-22 Developing Strategies for Growth and Downsizing Product development is a growth strategy that offers new or modified products to existing market segments. 2-23 Developing Strategies for Growth and Downsizing Downsizing is the reduction of the business portfolio by eliminating products or business units that are not profitable or that no longer fit the company’s overall strategy. 2-24 Partner Relationship Management Partner relationship management is the process of working closely with partners in other company departments to form an effective value chain that serves the customer, as well as partnering effectively with other companies in the marketing system to form a competitively superior value- delivery network. 2-25 Partnering with Other Company Departments A value chain is a series of departments that carry out value- creating activities to design, produce, market, deliver, and support a firm’s products.
2-26 Partnering with Others in the Marketing System A value delivery network is made up of the company, suppliers, distributors, and ultimately customers who partner with each other to improve performance of the entire system. 2-27 Marketing Strategy A marketing strategy is the marketing logic by which the business unit hopes to achieve its marketing objectives. 2-28 Customer-Driven Marketing Strategy Market segmentation is the division of a market into distinct groups of buyers who have distinct needs, characteristics, or behavior and who might require separate products or marketing mixes. 2-29 Customer-Driven Marketing Strategy A market segment is a group of consumers who respond in a similar way to a given set of marketing efforts. 2-30 Customer-Driven Marketing Strategy Market positioning is the arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of the target consumer.
2-31 Developing an Integrated Marketing Mix The marketing mix is the set of controllable tactical marketing tools—product, price, place, and promotion—that the firm blends to produce the response it wants in the target market. 2-34 Developing an Integrated Marketing Mix The four Ps Product is the goods and services in combination that the company offers to the target market. 2-35 Developing an Integrated Marketing Mix The four Ps Place is the company activities that make the product available to target customers.
Still, the concept of building out a fluid communication system that twists and turns with each contact action can seem daunting to marketers just trying to get the next email out the door.
So, start by tapping the power of marketing automation platforms to extend your marketing beyond email to multichannel and cross-channel data capture.
With a database that pulls profile data, relational data and behavioral data from multiple online and offline channels to build a comprehensive complete identity, you’ll be ready for behavioral marketing. For example, you might run a query for those contacts who have visited a website or landing page and watched a product video within the last 30 days but didn’t request a sales call, and send them a message geared toward incenting them to set up a call. It’s a subtle but important difference that helps you optimize the timing aspect of delivering the right message at the right time. Populate a post-purchase email with pics of recommended accessories for the item the recipient purchased. Populate a post-Webinar message with white papers related to the Webinar the recipient viewed. Populate the call to action download offer in your nurture emails based on the contact’s prior downloads. Populate a section of your weekly newsletter with content based on the Web pages they visited on your site.
For example, someone who purchased a pizza stone on his last visit to your cookware website might return to your site and see an offer for a pizza cutter, a coupon for premium pizza ingredients or a video of how to properly toss a pizza dough. By taking the steps outlined above, you can move away from marketing to people as a group and start addressing their individual needs and wants, delivering campaigns that interact with segments of one and massively increasing customer and prospect engagement.
IBM Marketing Cloud is a cloud-based digital marketing provider that offers email marketing, lead-to-revenue management and mobile engagement solutions.
After you segment buyers and develop a measure of consumer insight about them, you can begin to see those that have more potential. Ita€™s not already swamped by competitors, or you have found a way to stand out in a crowd.

Most firms tailor their offerings in one way or another to meet the needs of different segments of customers. Some firmsa€”especially smaller ones with limited resourcesa€”engage in concentrated marketing. MicrotargetingmicrotargetingThe process of gathering multiple sources of data available on people, everything from their tax and phone records to the catalogs they receive, so as to market to them., or narrowcasting, is a new effort to isolate markets and target them. Firms that compete in the global marketplace can use any combination of the segmenting strategies we discussed, or none at all.
Most companies, however, tailor their offerings to some extent to meet the needs of different buyers around the world. Pizza Hut has franchises around the world, but is products, their packaging, and advertising are tailored to different markets.
Sellers are increasingly targeting consumers in China, Russia, India, and Brazil because of their fast-growing middle classes. Other strategies for targeting markets abroad include acquiring (buying) foreign companies or companies with large market shares there. Why might it be advantageous to create low-cost products for developing countries and then sell them in nations such as the United States? On the agency side, our partners have experienced the same explosion of needs coming from their clients who are seeking new ways to be relevant in a digital world. Through our partnership, LEWIS will be able to identify, engage and nurture the most important people for their work, turning insights into action for their clients. In every successful program, there’s a listening component where you extract insights that help you decide who to reach out to and how to get them involved in your brand stories.
Dogs are low-growth, low-share businesses and products that may generate enough cash to maintain themselves but do not promise to be large sources of cash. Market development is a growth strategy that identifies and develops new market segments for current products.
Diversification is a growth strategy through starting up or acquiring businesses outside the company’s current products and markets. Target marketing is the process of evaluating each market segment’s attractiveness and selecting one or more segments to enter.
Promotion is the activities that communicate the merits of the product and persuade target customers to buy it. Don’t worry about building the world’s most comprehensive behavioral marketing system right off the bat. Effective behavioral marketing begins with moving beyond siloed marketing technology to a unified digital marketing database that captures the interactions of each person with your company across multiple channels – site visits, email, social, mobile, offline, CRM, location, Web forms and more. Begin tapping the power of combining marketing automation and behavior by grouping contacts together based on a few key characteristics and sending relevant content based on those characteristics.
Once you’ve successfully graduated from batching and blasting to segmenting based on a sophisticated set of behavioral criteria, you’re ready to bump it up to the next level and start letting contact behaviors drive immediate responses. By having the customer or prospect’s behavior drive the timing of each message, you’re communicating on their terms rather than yours, boosting relevance and moving you closer to true 1:1 communication. Placing dynamic content in a message enables you to automatically replace entire sections of your messages based on certain specified parameters.
For example, if a contact requested a white paper but didn't register for an upcoming Webinar, you could insert that as the call to action. Just as inserting dynamic content into an email can boost engagement, so can doing so on your website. Or a prospect who downloaded a white paper might see an ad for a related Webinar, an incentive to request a sales call, or a video demo related to the white paper.
IBM Marketing Cloud uses customer data and individual behaviors, collected from a variety of sources, to inform and drive personalized interactions in real time.
For example, the middle class of India is growing rapidly, making it a very attractive market for consumer products companies. Accessibility, or the lack of it, could include geographic accessibility, political and legal barriers, technological barriers, or social barriers. Consider TerraCycle, which has made its mark by selling organic products in recycled packages. Mass marketing is also efficient because you dona€™t have to tailor any part of the offering for different groups of consumers, which is more work and costs more money. Because these organizations dona€™t have all their eggs in one basket, they are less vulnerable to competition. A microcosm of the targeting strategies used in global markets is shown in FigureA 5.9, a€?Targeting Strategies Used in Global Marketsa€?. To tap the Indian market, Kraft made a bid to buy the candymaker Cadbury, which controls about one-third of Indiaa€™s chocolate market. We collectively looked at successful influencer marketing programs and broke them down into an at-a-glance 5-Step Action Plan you can follow. Finally, the influencer work that outperforms the rest always includes measurement and refining based on analytics.
Cash cows are low-growth, high-share businesses or products that are established and successful SBUs requiring less investment to maintain market share. By using both recipient actions and the timeframe they were committed within to segment, you’ll boost relevance. Rather than performing a periodic query searching for contacts that fit certain criteria, you’ll set up a program so that as soon as a contact performs a certain action – or fails to perform an action – your marketing platform will automatically send that contact a message.
Or, after someone watches a product video on your website but doesn’t request a salesperson contact them, you could send them an email asking if they have any questions about the video with a call to action to request a live demo. With that in mind, start building content blocks on your website with related rule sets that tap your behavioral marketing database to serve up photos, text and videos based on each visitor’s past actions. IBM Marketing Cloud powers the delivery of exceptional experiences for customers across the buyer journey by leveraging key data, providing analytical insights and automating relevant cross-channel interactions.

However, because the countrya€™s population is so large (nearly 1.5 billion people), more cars are sold in China than in Europe (and in the United States, depending upon the month).
People under thirty make up the majority of the Indian population, fueling the demand for a€?Bollywooda€? (Indian-made) films. However, after the marketplace became crowded with competitors, IBM sold the product line to a Chinese company called Lenovo. For example, to overcome geographic barriers, the consumer products company Unilever hires women in third-world countries to distribute the companya€™s products to rural consumers who lack access to stores. Fertilizer made from worm excrement and sold in discarded plastic beverage bottles is just one of its products. For example, the growing number of people too old to travel have the option of moving into one of Marriotta€™s a€?Senior Living Servicesa€? facilities, which cater to retirees who need certain types of care.
If youa€™re a seller of a metal like iron ore, you might sell the same product across the entire world via a metals broker.
Mattel has created thousands of different Barbie offerings designed to appeal to all kinds of people in different countries. Companies tailor products not only for different countries but also for different customers in different countries. Likewise, to compete against Corona beer, the Dutch brewer Heineken recently purchased Mexicoa€™s Femsa, which makes the beer brands Dos Equis, Tecate, and Sol.[105] However, some countries dona€™t allow foreign firms to buy domestic firms. A multisegment marketing strategy can allow a company to respond to demographic and other changes in markets, including economic downturns. Explain marketing’s role in strategic planning and how marketing works with its partners to create and deliver customer value 4. Take this tactic up a notch by creating dynamic content rule sets based on a contact’s behaviors. As part of IBM, IBM Marketing Cloud helps make it easier to design meaningful customer experiences across applications, devices and time, accelerating today’s results and tomorrow’s ambitions. It wouldna€™t be a good idea for TerraCycle to open up a polluting, coal-fired power plant, no matter how profitable the market for the service might be.
If a competitor comes along and offers these groups a product (or products) that better meet their needs, you will lose business.
A multisegment strategy can also help you weather an economic downturn by allowing customers to trade up or down among your brands and products. Concentrated marketing can be a risky strategy because you really do have all of your eggs in one basket.
Microtargeting involves gathering all kinds of data available on peoplea€”everything from their tax and phone records to the catalogs they receive. The broker would worry about communicating with customers around the world and devising different marketing campaigns for each of them. For example, Procter & Gamblea€™s China division now offers products designed for different local market segments in that country. Describe the elements of a customer-driven marketing strategy and mix, and the forces that influence it 5. Suppose you take a pay cut and cana€™t afford to stay at Marriotta€™s Ritz-Carlton hotels anymore.
Brazilians are extremely looks-conscious and increasingly able to afford cosmetic products as well as plastic surgery.[103] So attractive are these countries that firms are changing how they develop goods and services, too. Other regulatory and cultural barriers sometimes prevent foreign firms from a€?invadinga€? a country.
Boone Pickens, an oil tycoon who is attempting to develop and profit from the wind-power market.
A room at a JW Marriotta€”the most luxurious of the Marriott-brand hotels but cheaper than the Ritza€”is available to you.
Traditionally, many North American auto parts makers have supplied parts exclusively to auto manufacturers. For a fee, Acxiom can provide you with a list of Hispanic consumers who own two pets, have caller ID, drive a sedan, buy certain personal care products, subscribe to certain television cable channels, read specified magazines, and whose income and education are within a given range.[101] Clearly, microtargeting has ethical implications. IKEA, the Swedish home-furnishings maker, eventually left Russia because it found it too hard to do business there. Microtargeting, or narrowcasting, is a new, effort to a€?super targeta€? consumers by gathering all kinds of data available on peoplea€”everything from their tax and phone records to the catalogs they receive.
A multisegment strategy can also help you deal with the product life cycle issues discussed in ChapterA 2, Strategic Planning. But when General Motors, Ford, Chrysler, and other auto companies experienced a slump in sales following the recession that began in 2008, the auto parts makers found themselves in trouble. Data privacy issues will be discussed more in ChapterA 14, Customer Satisfaction, Loyalty, and Empowerment. Firms that compete in the global marketplace can use any combination of these segmenting strategies or none at all. Now, says Govindarahan, companies are creating low-cost products to capture large markets in developing countries and then selling them in developed countries.
Having saturated other markets, the hamburger chain is hoping to continue to grow by opening hundreds of new stores in the country.
Acera€™s $250 laptop and General Electrica€™s ultrainexpensive $1,000 electrocardiogram device are examples. Firms are creating low-cost products to capture large markets in developing countries such as these and then selling the products in developed countries.
Other strategies for targeting markets abroad include acquiring foreign companies or forming partnerships with them.

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