Marketing & Branding:
An Introduction for
Entrepreneurs
Presented by:
Edward S. Balian, Ph.D.
© 2006
Edward S. Balian, Ph.D.
10.30.06
For your notes….(optional pull out)
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(c)2006, E.S. Balian, Ph.D.
For your notes….(optional pull out)
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(c)2006, E.S. Balian, Ph.D.
Dr. Ed Balian….
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Q-Stat started 1977
Owned numerous companies; corporations
Started, maintained, bought & sold businesses
School of Business professor since 1976
Authored: textbooks and software
Consulted with over 80 companies to date; large & small
Former Dean of GIA School of Business
Over 50 instructional seminars presented, including Harvard
Business School
(c)2006, E.S. Balian, Ph.D.
I Welcome Three Groups
that are Before Me Today:
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Those wanting (or
praying?) to BECOME
millionaires
Those who ALREADY
ARE millionaires, now
wanting to become
MULTI-millionaires
Those who already are
multi-millionaires
(Let’s do LUNCH!)
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(c)2006, E.S. Balian, Ph.D.
Keep It Simple, Stupid
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YES---we all know this
catchy and cute
saying, but when it
comes to today’s
complex business
challenges, it is,
UNFORTUNATELY, just
not so “simple”
anymore.
(c)2006, E.S. Balian, Ph.D.
Questions that “DRIVE” the
Creation of Your Success: (1)
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WHAT are you driving?
WHERE are you
going?
HOW and WHEN are
you moving forward?
How FAST will you go?
When will you know to
SLOW DOWN?
Note that the size, style or cost of “car,”
(i.e., your business) does NOT matter--You still need knowledge and control
of your MARKETING PLAN to
move it where you want to go.
(c)2006, E.S. Balian, Ph.D.
Questions that “DRIVE” the
Creation of Your Success: (2)
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How will you measure
your business’
EFFICIENCY?
If inefficient, will you
blow your cool?
Will you be glancing
back or moving
forward? Both?
Can you avoid panicstops?
Note that the size, style or cost of “car,”
(i.e., your business) does NOT matter--You still need knowledge and control of
your MARKETING PLAN to move it
where you want to go.
(c)2006, E.S. Balian, Ph.D.
How Powerful is Branding?
What Images are Created in Your Mind?
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Let’s do a quick survey to test the
POWER of BRANDING.
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Close your eyes---NO PEEKING until I
give you the word….
(c)2006, E.S. Balian, Ph.D.
The “BLUE BOX” of…
(Courtesy: Tiffany)
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(c)2006, E.S. Balian, Ph.D.
“It’s the real thing.”
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(Slogan,
Logo
Font and
Color)
(c)2006, E.S. Balian, Ph.D.
“Tony the Tiger”
(1957)
(Courtesy: Kellogg)
(Character Logo)
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(c)2006, E.S. Balian, Ph.D.
Note that Tony is not just ANY
Tiger….BRANDING denotes:
SPECIFIC!
Any Child Will Tell You:
This may be a tiger,
but it’s NOT Tony!
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(c)2006, E.S. Balian, Ph.D.
“Yoga Journal” (Lesser known, but in
process of building a “logo” and
“brand”)
14 (Logo Font)
(c)2006, E.S. Balian, Ph.D.
“Identity” from 70 Years of
Repetition: Texaco Calendar from
1933 & a Pin from 2003:
1933
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2003
(c)2006, E.S. Balian, Ph.D.
Who Started with Only THIS, then EXPANDED their
PRODUCT Line into International Brand Name
Recognition?
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(c)2006, E.S. Balian, Ph.D.
The Five Critical Steps to get to
BRANDING:
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Use Sound Business Practices
Learn & Understand Your Target
Market, then:
Refine the 4-P’s, thus leading to:
Creation a Marketing Plan, leading to:
“Branding,” over time.
(c)2006, E.S. Balian, Ph.D.
TARKET MARKETING:
You MUST KNOW YOUR CUSTOMER BEFORE You
Can Effectively “BRAND”
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COSTLY ERRORS if you “just guess,” no matter
how confident you are in being correct.
Your current “success” is a poor measure---how
much better still COULD it be?
In today’s new, highly competitive global
environment, no one can afford to GUESS
WRONG. The “expense” of doing research is a
myth. The cost of not doing it could result in
Chapter 7.
(c)2006, E.S. Balian, Ph.D.
The 4-P’s of Marketing….
Pr
 Pr
 Pl
 Pr
This is NOT “mumbo-jumbo,”
they lead directly to higher profits through
greater efficiency of your business.
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(c)2006, E.S. Balian, Ph.D.
P1: PRODUCT
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ESSENTIAL: Is your Product or Service in demand
by a particular (targeted) market? MARKET
RESEARCH may help.
NOT ESSENTIAL:
Unique?
Necessity or Discretionary?
Alluring? Fun?
Packaged “Correctly?”
Has Potential to Expand into Larger Product Line
(Variety & Assortment)?
You DON’T NEED all (or ANY) of these, necessarily!
(c)2006, E.S. Balian, Ph.D.
P2: PRICE
(aka, “The Goldilocks Syndrome”)
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Is the PRICE reasonable vs. competitors?
Tangible vs. Intangible “value” to customer vs.
selling “price.”
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Is “low price” (or customer PERCEPTION of low
price) a selling point? (Wal-Mart)
Is high price a selling point? (Tiffany)
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MARKET RESEARCH to price it “just right”
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(TIFFANY SILVER HARMONICA vs. WAL-MART Earrings)
(c)2006, E.S. Balian, Ph.D.
P3: PLACEMENT (aka, “Distribution”)
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How hard do customers
need to look to find you—
including .com sites. (Travel
the world? Tiring!)
How badly do customers
think they NEED to find
you?
What are your costs
regarding placement: store
location(s), internet, etc.?
MARKET RESEARCH will
help answer these
questions.
(c)2006, E.S. Balian, Ph.D.
P4: PROMOTION
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“Promotion” includes two basic actions:
Advertising and/or,
Publicity
Specific actions may include:
Press Releases
Print Ads
Radio, TV Ads
Community Sponsorship
Word of Mouth
“On Sale” Clearance Campaigns
Training for In-Store Sales Associates
And more….
(c)2006, E.S. Balian, Ph.D.
“Positive” Word of Mouth
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No direct cost!
Personal testimonials
between friends are
powerful and credible
Pyramiding
(c)2006, E.S. Balian, Ph.D.
“Negative” Word of Mouth
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Pyramiding
Danger: Just one bad
experience by ONE
“crying” customer can
be disproportionately
harmful to your
business
Whether the complaint
is actually valid or not
is irrelevant.
(c)2006, E.S. Balian, Ph.D.
The 4-P’s at Starbucks:
Let’s Discuss:
 PRODUCT
 PRICE
 PLACEMENT
 PROMOTION
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(Courtesy: Starbucks)
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(c)2006, E.S. Balian, Ph.D.
The 4-P’s of YOUR idea:
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Discussion---
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Product
Price
Placement
Promotion
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(c)2006, E.S. Balian, Ph.D.
Until You Have A Marketing Plan….
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(c)2006, E.S. Balian, Ph.D.
We MUST HAVE a “MAP” or
MARKETING PLAN to Move
Forward Intelligently
WOULD YOU TAKE A MAJOR
ROAD TRIP WITHOUT A MAP?
THE “MAP” IS CALLED A
“MARKETING PLAN.”
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(c)2006, E.S. Balian, Ph.D.
The MARKETING PLAN
Takes into Account:
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WHO we are trying to reach (Target Market)
HOW we want to reach them
WHERE the product will be available
WHAT the MESSAGE needs to be (ad copy, images)
HOW MUCH $$$ is in our MARKETING BUDGET (per
Pro Forma P&L, Cash Flow, Balance Sheet)
SWOT Analysis
AND WHEN will the action happen, per a TIMELINE
(c)2006, E.S. Balian, Ph.D.
Marketing Plan Quick-Tips:
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Concentrate on a “do-able” population and scale.
Be realistic in expectations.
Do an accurate SWOT, not “Pie in the Sky”
Stay the course; use your “map,” do not
unnecessarily “change direction” or make
adjustments to name or logo without quality
research behind it.
The Marketing Plan we follow MUST be thought out
and researched FIRST, not last.
(c)2006, E.S. Balian, Ph.D.
Back to Where We Started in
Today’s Presentation:
Branding!
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The sum of your 4-P’s and your Marketing
Plan will ultimately build your “BRAND”
(either one way or the other!)
Solid and positive BRANDING will
ultimately provide huge added value to your
name, your business and your products or
services.
(c)2006, E.S. Balian, Ph.D.
In Review…..we discussed:
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Your Choices in How to Operate a Business
The Power of Marketing
Target Marketing through Market Research
The 4-P’s of Marketing
SWOT Analysis
Your Marketing Plan, Ultimately Leading to:
Branding and its Long-Term Value
(c)2006, E.S. Balian, Ph.D.
How Might I Further Assist YOU?
It was my pleasure to meet you today!
Best of luck in all your future
endeavors!
Stay in touch!
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(c)2006, E.S. Balian, Ph.D.
Contact Me….
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For a set of my
presentation notes (in
PowerPoint only):
Email:
esbalian@gmail.com
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(c)2006, E.S. Balian, Ph.D.
NOTES…………..
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(c)2006, E.S. Balian, Ph.D.