going to market 404 - university of michigan · § marketing is going to market with an offering...
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GoingtoMarket404October13,2015
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GOING TO MARKET 404:
▪ How We Got Here: A review of key marketing principles – John Trierweiler
▪ Launching and Learning: Launching of a new program (the Master of Management)
– Emily Deedler
▪ Hashtags, Selfies, and Victors: Marketing and (future) Gen Z Wolverines
– Betsy Brown
https://vpcomm.umich.edu/communicators-forum/specialty-sub-groups/communicators-forum-marketing/
Agenda
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MARKETING COMMITTEE
STRATEGY 101
POSITIONING 202
BIG DATA 303
Session 1
Session 2
Session 3
Session 4
GOING TO MARKET 404
Positioning Strategy Big Data To Market
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MARKETING COMMITTEE
STRATEGY 101
POSITIONING 202
BIG DATA 303
Session 1
Session 2
Session 3
Session 4
GOING TO MARKET 404
Positioning Strategy Big Data To Market
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Session 1: STRATEGY 101
Marketing defined § Marketing is going to market with an offering utilizing the 4 (or
7) Ps to maximize value*
The Marketing Mix § The 4 Ps** (7 Ps for Service categories)
1. Product 2. Price 3. Place 4. Promotion ------------------ 5. People 6. Processes 7. Physical Environment
*John Branch **Jerome McCarthy
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The 7 Ps*
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*Bernard Booms, Mary J. Bitner
Session 1: STRATEGY 101
Strategic Marketing: (1) a system of management
§ 3 C’s #1*: - Customers - Competitors - Company
In response to risks from:
§ 3 C’s #2: - Competition - Complexity - Change
Strategic Marketing: (2) a process of management
§ A disciplined and iterative approach:
Research Analysis Planning Implementation Control
*Kenichi Ohmae
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Session 2: POSITIONING 202
Segmentation
§ Breaking a heterogeneous market down into smaller homogeneous markets*
§ Identification, creation, and prioritization of segments** - Substantial, accessible, unique, durable, identifiable
*Philip Kotler **John Branch
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Session 2: POSITIONING 202
Targeting
§ The strategic choice of which segments to serve Step 1. Evaluate segment attractiveness
Step 2. Evaluate segment-organization compatibility
Step 3. Select targeting strategy: - Undifferentiated (mass) marketing - Differentiated (segmented) marketing - Concentrated (niche) marketing - Micromarketing (local or individual marketing)
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Session 2: POSITIONING 202
Positioning
§ The value proposition by which we desire our target segments to perceive us
§ The positioning process - Identify value drivers - Map target segment perceptions - Select positioning strategy - Select grand position
§ Choosing your flag 1. Have a flag 2. Make it a relevant flag 3. Choose an important flag 4. Do not steal a competitor’s flag 5. Match your core competence
“For (target segment), (brand name) is the (frame of reference) which delivers (benefit/point of difference) because only (brand name) is (reason to believe)”
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marketing research
positioning
segmentation
targeting
STP
place
price
promotion
product
4 Ps
competition
consumer
company
3 Cs
Putting It All Together*
*Christie Nordhielm
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evaluate
Bumble Bee Tuna Case Study*
*John Trierweiler
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University of Michigan Case Study*
*Matt Schlientz
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Session 3: BIG DATA 303*
Big Data, Better Science and Engineering
§ Be customer-centric: celebrate customer heterogeneity - Distinguish the profitable customers from the less profitable ones - How much are they worth? Use metrics such as customer lifetime value - More is not better; use the right data
§ More is not better: use the right data - Big Analytics more than Big Data - Do customer-base analyses - Use varying types of data
§ Always be testing: form hypotheses and experiment - Ask important questions - Form hypotheses - Set up measurement instruments - Analyze - Lather, rinse, repeat
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*Eric Schwartz
Session 3: BIG DATA 303
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CaseStudy:MasterofManagementProgramLaunchingandLearningOctober2015
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EmilyDeedler,BrandManagerUndergraduatePrograms,MasterofManagement,MasterofAccoun:ng,andDoctoralPrograms
About Me: The Great Lakes Tour
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“Itwasadarkandstormynight…”TheNewMasterofManagementprogramwasapproved!
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Our Charge: Generate Demand
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GeHngStarted:Evalua:ngtheIndustrySecondary research confirmed we were entering a market still in the “introductory” phase: From the Graduate Management Admissions Council, 2013 Application Trends Survey ▪ Small market ▪ Growing ▪ Low awareness in the U.S ▪ Many substitutes exist
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Evalua:ngtheCompe::on:Frenemies!
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Only a handful of Master of Management programs existed in the elite business school space.
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Compe::vePosi:oning:
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Duke (Fuqua) “We combine your passion with purpose”
Virginia (McIntire): “We transform your talents into tangible assets”
Notre Dame (Mendoza): “The graduate business degree for non-business majors”
Northwestern (Kellogg): “Designed to complement and build on your liberal arts education”
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Schoolscollec:velyfocusedongrowingthecategory
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▪ Similar positioning ▪ Minimal product differentiation ▪ Strong focus on careers
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PlanningOurGotoMarketStrategy:
§ Segmenting § Targeting § Positioning § Implementation § Control
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Segmen:ng:AudienceDevelopmentGoal: Finding an audience that was IDENTIFIABLE and ACCESSIBLE
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ChoosingaTarget:Challenge: Sizing the Market
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University of Michigan Candidates
Off-Campus Candidates
Non-Career Switchers: “The MM can help me
do well in my field”
Career Switchers: “The MM can help me
pivot to business”
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Year#1Posi:oning:WhereweLanded
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Positioning Statement: For non-business
undergraduates looking to transition to a career in
business, The Ross Master of Management Program
provides you the grounding and skills you need to
succeed in any organization.
Headline:
Pivot Your Career to Business
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Implementa:on!
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Email outreach Direct mail Paid advertising Campus information sessions Regional events Webinars Campus signage PR/social media activities Program website
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WhatHappened?41 students enrolled GPA: 3.54
GRE: 155
GMAT: 678
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Analyzed data as technical aide in Johns Hopkins Applied Physics Lab
Been published by the Journal of Mechanical Engineering Design
Built a school in Masai Mara, Kenya
Cataloged 12,000 drawers of fossils in the National Museum of Natural History
Conducted research projects funded by the National Science Foundation and NASA
Designed and assembled wind resistance testing apparatus for US Navy funded research project
Developed proposal approved by Northrop and
Boeing to resolve mission safety concerns
Facilitated Habitat for Humanity’s transition from crowdsourcing funds to micro-financing
Increased boxing capacity for Chico's by 20% by engineering a predictive model of inventory
Interned in economics for U.S. State Department in U.S. Embassy in Rome
Learned how to train elephants
Reviewed proposals submitted to DreamWorks
Wrote and self-published mystery novel
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Control:MethodologyforLearningMorePlanning for Year #2 Conducted primary research ahead of year #2 planning ▪ FocusgroupswithLS&A,Engineering,andincomingMMstudents
▪ Surveyofstudentswhodeclinedourofferofadmission
▪ Undergraduatestudentresearchproject
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Evalua:ngValueDrivers:RefiningthePosi:oning
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RefinedPosi:oning:
Positioning Statement: For non-business undergraduates looking to gain a foundation in business, the Ross Master of Management program provides an action-based curriculum, best-in-class resources, and a dynamic career search program designed to help you land your
ideal job.
Headline:
Power Your Potential
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Evalua:ngTac:cs: Successes and Opportunities
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WhatHappened-Chapter2▪ Class size was up 20% ▪ Academic credentials were
unchanged or better ▪ 93% of year #1 students
had a job offer within 3 months of graduation
Job Placement: Digitas
EJ Gallo Google
FTI Consulting Huron Consulting
LaSalle Real Estate Pepsico
Target Textron TJMaxx
Toys R Us ...and more
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Thankyou.
(Nowontoyear#3…)
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