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Research, Analysis and Promotion
Jennifer Layton Layton’s Chance Vineyard & Winery
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Everything you do…
from “idea”
to “repeat customers”
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Creating Value and Unique Selling Proposition
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• Money • Time • “Switching”
• Better Performance • Faster Delivery • More Convenience • Quicker Response
most benefit . . .
for the least cost
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Value: Your product or service is: • “the only__________”
• cheaper
• available (a benefit, maybe!)
• a better performer
• more convenient • faster • safer • better-looking • more prestigious
Give your customers a reason to buy from you!
Example
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Features ADT- Security Systems Disney Magical
Gatherings Generic Brands Organic Food
Piece of mind, control
Benefits
Treasured Memories
Saving money
Health, longevity
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What do they look like? – How do they act?
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Statistics of a population Need to define geographic area
Examples: age, disability, race, gender, income, mobility, home ownership, location, employment status, and/or education level.
Creating a demographic profile: Female, married, ages of 25-40, and college educated
Where can you find demograpics of an area www.census.gov –American Fact Finder Chambers of Commerce Industry trade associations Research Companies – Neilson, Forrester Research
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Study of personality, values, attitudes, interests, and lifestyles (AIO-Activities, Interests and Opinions) What they like to do Where they like to hang out What causes they support
Behavior Buying behavior – brick vs. click, length of time Travel habits – adventurous or stay close to home Usage rates Readiness to buy
Culture Valuable for maintaining customer base
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Generation Date of Birth
Number Age 2012
Characteristics
Pre-Depression Before 1930
12MM 83+ Conservative, Concerned with health & aging, activity level & engagement with society
Depression 1930-1945
28 MM 67-82 Patriotic and conformists/traditional, Concerned with active lifestyle, hard work, discipline, common good
Baby Boom 1946-1964
80 MM 48-66 Value individualism & self expression, careers workaholics, active retirements, Value –family, health, energy, considered self-centered and suspicious of authority.
Generation X 1965-1976
45 MM 36-47 Multiculturalism and global thinking are the norm, pessimistic, question conventionalism. Value-family/work balance, do not believe in sacrificing for advancement.
Generation Y (Millenials)
1977-1994
71 MM 18-35 Used to fast-paced technologically driven life, want choices and want immediate results, value authenticity
Generation Z 1994 29 MM <18 Appear to be the new conservatives, embracing traditional values, never lived without the internet.
Williams, K, and Page, R. (2010), “Marketing to the Generations” Journal Behavioral Studies in Business, 17 You can find it here.
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Do not try to be all things to all people!
Target Marketing or Niche Marketing…. Is what you need!!
Narrow your customer base
down to specific group
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What is going on in the world around you?
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Name Competing Industry
Product Summary
Strengths Weaknesses Strategies Used
Market Outlook
Comp. #1
Wine Industry
Mostly Dry Wines
Meticulous Wine- maker
Not open often
High end wines
Growing but not rapidly
Comp. #2
Tourism –Kayak Company
Nature Trails/tours
Beautiful Scenery
No regularly scheduled tours
All tours are custom
Declining sales
Find: -Online -Chamber -Asking around
Websites visiting
Feedback Feedback Review website, literature ASK!!!
Can be done by surveys or assessment
It is not corporate espionage!!!!
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The Power of Story Story is very important in the Agriculture industry Can’t be the same old, “We are a family owned farm
and we believe in producing the best……” Authenticity is necessary What kind of stories work?
Needs good opening Has emotion Green light – before and after It needs to evoke the action you are looking for
Resource: www.storyjuicing.com
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Price
Promotion Place
Product
“the 4 P’s”
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PRICE
my costs my
customers
my competition
PRICING for
VALUE:
value of my “point of difference”
competitor’s price
+/-
my price =
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Promotion & Place
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Television? Events? Friends?
Newspaper? Salespeople?
How do your customers get
information?
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Advertising Publicity
Events Personal Selling
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Marketing Research and Analysis lets you Know Yourself Determine Marketsize/Potentional Know Your Customers
He who fails to plan is planning to fail.
~Winston Churchill