Marketing 101

Introductory Message

In order to make 「茶隅FUN逅」world-renowned, we need marketing. For the first session of the 101 series, we are hornoured to have the marketing professional - Rock as our expert host. In a 15-minute mini-keynote presentation, he will be introducing the basics in marketing, such as branding, customer centricity, segmentation and targeting. He will also guide us to explore the underlying mechanisms of marketing - to understand the cognitive, social, behavioural, emotional and cultural associations with brands. Then we will have a semi-structured discussion, talking about the product-centric thinking and customer centricity, examining the benefits and weaknesses of each approach and the interplay between them. In addition, we will consider the tactical elements about effective brand communication strategies. The session will end with a case study, applying all the theoretical and practical tactics to strengthen the marketing of our English Corner.

茶香也怕巷子深，展示才华靠英文。本周的「茶隅FUN逅」有幸邀请市场营销专业人士、美归硕士Rock Shi来为我们指点迷津，讲解市场营销的基本原理，分享最为实用的营销策略，欢迎大家一起来参与年末“自我品牌升级行动”。

Marketing 101

Courtesy of Rock Shi

A bit about Rock

Advertising Supervisor at IGG

• Facebook Campaign Manager for MENA (Middle East and North Africa) and Turkey
• Ad Performance Data Analysis

Media Buying Analyst at OneMT

• Worldwide Marketing Campaigns through Google and Facebook 

M.S. Business Analytics, University of California, Davis

B.S., Electrical Engineering, University of Miami

Warm up Exercises

True or False

1. Marketing” and “Selling” are the same thing. 
2. The best way to sell a product is “direct” (without an intermediary). 
3. My “target market” and “buyer” are always the same. 
4. Devoting most of my promotion budget to magazine advertising will guarantee my success.

What is marketing? Why do we need it?

• Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large (American Marketing Association). 
• Marketing is the business process of creating relationships with and satisfying customers (Wikipedia).
• Marketing is not directly selling products or ideas to clients or customers. 
• It is a serious of activities to draw people’s attention and increase clients’ or customers’ interests.
• Marketing funnel: Awareness → Consideration → Conversion → Loyalty → Advocacy

What are the typical ways to do marketing？

Online Marketing

• Paid (articles, paid search, paid social, display) e.g. 饿了么，天猫
• Free (articles KOL, branding)

Offline Marketing

• Shops e.g. 永和鱼丸
• Promotion
• Events
• O2O (Online to offline)

Design Marketing Strategy: STP

Segmentation: identify base for segmentation

• Age 
• Gender 
• Location 

Targeting: evaluation potential and commercial attractiveness for each segments

• E.g. for shoe designing, youngsters segment, you are targeting them for colorful and hip shoes 

Positioning (Marketing mix: 4P)

• Products 
• Price 
• Promotion 
• Placements

Design Marketing Strategy: SWOT

Strengths

• things your company does well
• qualities that separate you from your competitors
• internal resources such as skills, knowledgable staff
• tangible assets such as intellectual property, capital, proprietary technologies etc.

Weakness

• things your company lacks
• things your competitors do better than you
• resource limitations
• unclear unique selling proposition

Opportunities

• underserved markets for specific products
• few competitors in your area
• emerging need for your product or services
• press/media coverage of your company

Threats

• emerging competitors
• changing regulatory environment
• negative press/media coverage
• changing customer attitudes toward your company

How to measure the success of a marketing event?

Before thinking about the measurement, we need to understand what is the purpose of the marketing event?

• Sales 
• Revenue 
• Brand awareness 

There are many different measurements

Offline

• Customer lift
• Sales lift
• Revenue

Online

• App installs 
• Engagement 
• Brand awareness  
• ROAS (Return of Advertising Spent)

Case Study: Luckin Coffee

Background: Luckin Coffee was founded in November 2017 by Ms. Qian Zhiya, founder and former COO of the car service company UCAR (rival of Didi Chuxing). In fact, the CEO of UCAR, Mr. Lu Zhengyao, was the angel investor behind Luckin Coffee’s massive operating budget – by the end of May 2018, it has successfully opened 525 coffee shops in China. 

Task: Using STP and SWOT to analyze Luckin’s marketing strategies

• STP Segmentation, Targeting, Positioning (Product, Price, Promotion, Placements)
• SWOT: Strength, Weakness, Opportunities, Threaten

Conclusion

• Marketing is a serious of activities to draw people’s attention and increase clients’ or customers’ interests.
• Marketing funnel
• Ways to do marketing
• Marketing Strategy Design: STP (Marketing Mix, 4P) & SWOT

Book Recommendation

• 《流量池》
• 《定位》

Date & Time: 15/12/2018 19:30-21:00 (Cool)

Attendees: 13 Rock, Lin, Janny, Mike, Tiffany, Celia, David Liang, Tony, Michelle, Ivy, Joe, Candace, Qin Lin

Archive files: 2 short Videos, 3 photos, 1 Signin Form

豆瓣同城

Minutes taken by Janny