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Five Essential Elements of Marketing

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Information about Five Essential Elements of Marketing
Business-Finance

Published on March 30, 2008

Author: Mehrmann

Source: authorstream.com

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Executive Blueprints, Inc : Features, Advantages, Benefits, Image & Offer Executive Blueprints, Inc The FABIO Principle Essential Marketing : Essential Marketing 1. Features 2. Advantages 3. Benefits 4. Image 5. Offer 6. Create Your Marketing Checklist The FABIO Principle Preparation : Preparation To get the most of this tutorial, we suggest that you prepare with writing instruments and your canvas (blank paper) available as you follow along. You can document your personal marketing checklist and targeted customer proposition as you follow the presentation. For best results, group participation or review is recommended. It is also suggested that you go through the entire process and then review the what you have learned in comparison to your current marketing message and the marketing of your competition. You may find some immediate opportunities to improve and leverage your marketing. Look for this icon in the top right corner as a prompt for you to document your personal strategy canvas. Five Essential Elements : Five Essential Elements “The purpose of marketing is to ultimately generate sales. Whether you are building a brand or coordinating a one time sale, it is important that you cover all the bases to be effective. If you are selling a product or a service, on the web or over the counter, the five essential steps for effective marketing is a check-list to make sure that you are maximizing the return on your efforts.” Essential Elements for Effective Marketing by John Mehrmann Features : Features Define the features of the product or services that you are promoting. Be specific, concise and accurate in your summary of the features. Imagine that you are developing your list of features like the list of ingredients for the side of a cereal box, or the list of hardware requirements for a software application. The list of features should be easy to locate and easy to understand. The list of features should not be flamboyant or contain promotional “puffery”. It should be concise and contain substantive information. Demonstrate respect for your customer’s time by being direct and easy to understand. List Your Features : List Your Features Advantages : Advantages Identify at least one, but no more than three, key advantages of the product or service that you want to promote. Unlike the list of features, statements of advantages are intended to generate excitement. The advantages are typically a subtle comparison between the ‘before and after’, or a comparison to competition. Do not disparage the competition. If you are effective in stating your advantages, the customer will make their own conclusions. Some examples of phrases used in identifying advantage are “fewer calories”, “every day low prices”, “longer lasting”, “less filling” and “fresh scent”. These advantages may or may not be the related to the primary features or functions of your product or service, but the advantages can set you apart. List Your Advantages : List Your Advantages Benefits : Benefits It is important to identify the customer value to be realized by the advantages of your product or services. The list of features details the item. The advantages identify why yours is superior. The benefits statement makes it personal. In some cases the benefits may be implied, For example, “fewer calories” implies weight loss, an obvious benefit for many customers. If the customer benefits are not inherently obvious, then it is good practice to state the benefits. This is especially true if you are selling services. For example, help the customer identify that “training and educating employees” may result in benefits like “better sales” or “increased productivity”. Keep the customer perspective, “You can buy at low prices here” is better than “I can sell to you at low prices”. List Customer Benefits : List Customer Benefits Image : Image If your marketing includes advertising or web content, it is extremely important to use appropriate images. The text of your marketing material creates an impression and an emotional response. The images or pictures used in your marketing will be remembered. An effective method is to use pictures that convey lifestyle associated with your product. For example, pictures of athletes for sport drinks, cityscapes convey large scope, images of people enjoying the use your product. Proper use of images can gain immediate attention and make a lasting impression. To be highly effective, use images that portray your product or service with complimentary text . Some common mistakes are not including a picture of the product, or using cartoons in conjunction with professional services. Select the Image : Select the Image Offer : Offer Also commonly referred to as the “call to action”, make sure that your marketing material entices the customer to follow-up by asking for the sale. Effective Offers typically include a price, a place to purchase, and a compelling reason to ‘act now’. Limited time promotions, coupons, “while supplies last” and “for a limited time only” are compelling reasons to take advantage of the benefits promptly. Your marketing material may be your one opportunity to reach that customer, so use it wisely and ask for the sale. Offer / Call to Action : Offer / Call to Action Create Your Checklist : Create Your Checklist The Essential Marketing Checklist Features Did you provide the specific list of features for your product? Advantages Did you list the advantages of your product or offer? Benefits Did you list the benefits from the Customer Point of View? Image Can you include an image and brand yourself? Offer Did you ask for the sale and give information to place an order? Five Essential Elements : Five Essential Elements Certificate of Achievement : Certificate of Achievement www.ExecutiveBlueprints.com/certificates/026505.htm Free Certificate of Achievement for Completing this Course! Click on the link below to print your free on-line Certificate of Achievement. Click on the special link above and connect to our web site Type Your Name as you would like it to appear on the Certificate Change your Page Setup or Printer to LANDSCAPE Print your certificate Note – Requires the ability to connect to the Internet and local connected printer. About Executive Blueprints, Inc : About Executive Blueprints, Inc Business Consulting Professionals Affiliated Consultants with years of Executive Business management and “real life” experience and success Characterized by a passion for learning and talent for teaching. We consolidate experience and relevant information into seminars, self-paced tutorials, coaching and targeted support Projects to accommodate the demands of modern management.www.ExecutiveBlueprints.com So much more from : BizRolodex of Discounts Executive Coaching Business Consulting Travel Tips and the list keeps growing Go to www.ExecutiveBlueprints.com for Calendar of Seminars Case Studies Training Tools electronic Books Email Newsletter Executive Blueprints is designed and managed by business leaders, with input and suggestions from business leaders, to support the efforts of current and future business leaders. Get Connected, share your knowledge and learn from the experience of other successful executives. So much more from www.ExecBlue.com

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