Marketing That Works
How Entrepreneurial Marketing Can Add Sustainable Value to Any Sized Company
2nd Edition
Published on 22. June 2015
250 pages
978-0-13-399431-5 (ISBN)
Description
Discover New Entrepreneurial Marketing Strategies for Supercharging Profits and Sustaining Competitive Advantage!
This practical guide shows how to use modern entrepreneurial marketing techniques to differentiate your company in the eyes of customers to achieve sustainable profitability. The authors focus on innovative strategies and tactics, pioneered by some of today's most successful and disruptive companies, including Google, Quidsi (diapers.com), Apple, Victoria's Secret, Anki, Pebble, Metricstream, and Warby Parker. These high-impact methods will help entrepreneurs achieve immediate, bottom-line results through more effective marketing.
Based on The Wharton School of the University of Pennsylvania's pioneering Entrepreneurial Marketing course, this edition is fully updated to reflect what works in the marketplace today. Guided by the authors' collaboration with dozens of high-growth companies, it offers new insights into which marketing programs and distribution channels are likely to succeed, and how to leverage them in your unique business environment-even with limited resources.
The authors begin by helping you refine your competitive positioning by clarifying "What am I selling to whom?" and "Why do they care?" Next, they guide you through the fundamentals of demand generation via public relations, social media, viral marketing, advertising, distribution, and marketing-enabled sales. Finally, they provide you with valuable tips on how to secure the right human capital resources to build the team you need to succeed. Each of these core concepts is illustrated with real-world anecdotes that provide fresh insights into traditional marketing concepts.
Pragmatic from start to finish, Marketing That Works, Second Edition, is for marketers who care about both long-term strategies and short-term results.
* Leverage cutting-edge, entrepreneurial techniques to get your positioning and pricing right
* Generate, screen, and develop great new marketing ideas to reach your target audience
* Lead your customers to your offering-and motivate them to buy
* Cultivate the right people and resources for outstanding execution
This guide offers high-value, low-cost marketing solutions that leverage today's newest trends, tactics, channels, and technologies. It highlights companies that are redefining marketing and illuminates powerful new ways to secure resources, test and execute plans, and build brands.
The authors present practices for getting close to customers, reinforcing positioning, and developing marketing programs. Wherever you compete, this guide will help you grow your sales and profits, and drive more value from every dollar you spend on marketing.
For more information about Marketing That Works, visit www.marketingthatworksbook.com.
This practical guide shows how to use modern entrepreneurial marketing techniques to differentiate your company in the eyes of customers to achieve sustainable profitability. The authors focus on innovative strategies and tactics, pioneered by some of today's most successful and disruptive companies, including Google, Quidsi (diapers.com), Apple, Victoria's Secret, Anki, Pebble, Metricstream, and Warby Parker. These high-impact methods will help entrepreneurs achieve immediate, bottom-line results through more effective marketing.
Based on The Wharton School of the University of Pennsylvania's pioneering Entrepreneurial Marketing course, this edition is fully updated to reflect what works in the marketplace today. Guided by the authors' collaboration with dozens of high-growth companies, it offers new insights into which marketing programs and distribution channels are likely to succeed, and how to leverage them in your unique business environment-even with limited resources.
The authors begin by helping you refine your competitive positioning by clarifying "What am I selling to whom?" and "Why do they care?" Next, they guide you through the fundamentals of demand generation via public relations, social media, viral marketing, advertising, distribution, and marketing-enabled sales. Finally, they provide you with valuable tips on how to secure the right human capital resources to build the team you need to succeed. Each of these core concepts is illustrated with real-world anecdotes that provide fresh insights into traditional marketing concepts.
Pragmatic from start to finish, Marketing That Works, Second Edition, is for marketers who care about both long-term strategies and short-term results.
* Leverage cutting-edge, entrepreneurial techniques to get your positioning and pricing right
* Generate, screen, and develop great new marketing ideas to reach your target audience
* Lead your customers to your offering-and motivate them to buy
* Cultivate the right people and resources for outstanding execution
This guide offers high-value, low-cost marketing solutions that leverage today's newest trends, tactics, channels, and technologies. It highlights companies that are redefining marketing and illuminates powerful new ways to secure resources, test and execute plans, and build brands.
The authors present practices for getting close to customers, reinforcing positioning, and developing marketing programs. Wherever you compete, this guide will help you grow your sales and profits, and drive more value from every dollar you spend on marketing.
For more information about Marketing That Works, visit www.marketingthatworksbook.com.
All prices
More details
Edition
2nd edition
Language
English
Place of publication
NJ
United States
Publishing group
Pearson Education (US)
Target group
Professional and scholarly
File size
6,14 MB
ISBN-13
978-0-13-399431-5 (9780133994315)
Copyright in bibliographic data and cover images is held by Nielsen Book Services Limited or by the publishers or by their respective licensors: all rights reserved.
Schweitzer Classification
Other editions
Additional editions
Leonard Lodish | Howard Morgan | Shellye Archambeau
Marketing That Works
How Entrepreneurial Marketing Can Add Sustainable Value to Any Sized Company
Book
07/2015
2nd Edition
Pearson FT Press
€45.87
Article not available at the moment
Persons
Leonard M. Lodish, Ph.D., is Samuel R. Harrell Professor Emeritus of Marketing at The Wharton School. He is cofounder and Leader of Wharton's Global Consulting Practicum, and innovator of Wharton's MBA Entrepreneurial Marketing course. His research focuses on marketing decision support systems, marketing experimentation, and entrepreneurial marketing. As an active venture advisor and investor, Len was the first outside board member and helped raise the first investments for Quidsi.com (diapers.com) and Milo.com, and other very successful ventures. He is a cofounder of Musketeer Capital and advisor to a number of venture funds.
Howard L. Morgan is cofounder and Partner of First Round Capital, a venture capital investment firm, and founding investor and board member of Idealab. He has served as Professor of Decision Sciences at The Wharton School, as Professor of Computer and Information Sciences at the University of Pennsylvania, as Assistant Professor of Operations Research at Cornell University, and as Visiting Professor at the California Institute of Technology and Harvard Business School.
Shellye Archambeau is CEO of MetricStream, Inc., a recognized global leader in Governance, Risk, and Compliance. She also serves on the boards of directors for Verizon Communications and Nordstrom. She previously served as CMO and EVP of Sales for Loudcloud, Inc., responsible for all global sales and marketing activities. There, she led Loudcloud's transformation into an enterprisefocused company while growing sales by 50% year over year. As President of Blockbuster, Inc.'s e-commerce division, she was recognized by Internet World as one of the nation's Top 25 click-and-mortar executives.
Jeffrey A. Babin is Associate Professor of Practice & Associate Director of Engineering Entrepreneurship at the University of Pennsylvania, and founder and Managing Director of Antiphony Partners, LLC, a strategy consulting firm that helps companies create sustainable value through innovation. He is Senior Project Advisor and Regional Manager of the Wharton Global Consulting Practicum, Advisor for the Wharton Venture Initiation Program, and founding member of the Mid-Atlantic Angel Group.
For more information about Marketing That Works, visit www.marketingthatworksbook.com.
Howard L. Morgan is cofounder and Partner of First Round Capital, a venture capital investment firm, and founding investor and board member of Idealab. He has served as Professor of Decision Sciences at The Wharton School, as Professor of Computer and Information Sciences at the University of Pennsylvania, as Assistant Professor of Operations Research at Cornell University, and as Visiting Professor at the California Institute of Technology and Harvard Business School.
Shellye Archambeau is CEO of MetricStream, Inc., a recognized global leader in Governance, Risk, and Compliance. She also serves on the boards of directors for Verizon Communications and Nordstrom. She previously served as CMO and EVP of Sales for Loudcloud, Inc., responsible for all global sales and marketing activities. There, she led Loudcloud's transformation into an enterprisefocused company while growing sales by 50% year over year. As President of Blockbuster, Inc.'s e-commerce division, she was recognized by Internet World as one of the nation's Top 25 click-and-mortar executives.
Jeffrey A. Babin is Associate Professor of Practice & Associate Director of Engineering Entrepreneurship at the University of Pennsylvania, and founder and Managing Director of Antiphony Partners, LLC, a strategy consulting firm that helps companies create sustainable value through innovation. He is Senior Project Advisor and Regional Manager of the Wharton Global Consulting Practicum, Advisor for the Wharton Venture Initiation Program, and founding member of the Mid-Atlantic Angel Group.
For more information about Marketing That Works, visit www.marketingthatworksbook.com.
Content
&>The Book's Mission 1
The Authors' and the Book's Heritage 3
The Importance of Marketing 4
One Positioning, Multiple Stakeholders 6
Challenges of the Next Decade 7
SECTION ONE: MARKETING STRATEGY--REFINE YOUR OFFERING AND POSITIONING 11
Chapter 1 Marketing-Driven Strategy to Make Extraordinary Money 13
Orvis Company--Excellent Entrepreneurial Positioning 13
Positioning to Enhance the Value Proposition 14
Getting Started: Segmentation and Targeting 16
Virtual Communities: The Ultimate Segment? 17
An Entrepreneurial Segmentation Example--Tandem's East 18
An Entrepreneurial Segmentation Audit 20
Gaining the Competitive Advantage: Differentiation 22
Distinctive Competence and Sustainable Competitive Advantage 24
Tying Together the Value Proposition: Distinctive Competence, Sustainable Competitive Advantage, and Positioning 27
Victoria's Secret and L Brands--Excellent Integration of Positioning, Segmentation, and Distinctive Competencies 29
Positioning, Names, and Slogans 31
Hindustan Unilever Limited: Positioning and Targeting to the Bottom of the Global Pyramid 33
The Unmet Need 34
Summary 39
Endnotes 39
Chapter 2 Generating, Screening, and Developing Ideas 41
Idea Generation and Testing at Idealab 41
Evaluating Specific Venture Ideas 42
Finding More Receptive Battlefields 43
Dry Tests, Crowdfunding, and Concept Testing: What They Are and Where They Are Best Used 46
Getting Customers to Part with Money: The Real Tests of Value 46
Victoria's Secret Uses Their Stores as Test Beds for New Products and Brands 48
Testing Purchase Intention: The Concept Test 49
How to Do Concept Testing--the "Nuts and Bolts" 50
Best Practices and Uses for Concept Testing 56
Caveats for Concept Testing 60
Trakus: The Value of Concept Testing 61
Summary 65
Endnotes 66
Chapter 3 Entrepreneurial Pricing: An Often-Misused Way to Garner Extraordinary Profits 67
Determining Price at Warby Parker 67
Pricing to Create and Capture Value 68
Price and Perceived Value 70
Getting Price Right Early--It's Hard to Raise Prices Later! 71
Perceived Value in Use for Business-to-Business Products 72
The SAS Institute, Inc.--Very Effective Management of Perceived Customer Value 74
Pricing of Intellectual Property 77
What Else Can Impact Price Response? 79
Customer-Determined Pricing 80
Revisiting Costs in Determining Price 82
Methods for Determining Revenue at Alternative Price Levels 84
Premarket Methods--Pricing and Concept Testing 84
In-Market Methods 90
Victoria's Secret Can Use Its Many Stores for In-Market Experimentation 95
Summary 96
Endnotes 97
SECTION TWO: DEMAND-GENERATION AND SALES--LEAD YOUR CUSTOMERS TO YOUR OFFERING 99
Chapter 4 Leverage Public Relations for Maximum Value 103
PayMyBills.com--Battling Competition with Public Relations 103
Aspire to Be a "Winner" 104
Gaining the Perception of Leadership 105
Spokespersons/Evangelists 109
Linkage to Fund-raising 111
PR Agencies 112
Timing Is Essential 113
Crisis Management 114
Summary 115
Endnote 115
Chapter 5 Promotion and Viral Marketing to Maximize Sustainable Profitability 117
The Coolest Cooler--One of Kickstarter's Most Successful Campaigns 117
Methods for Promoting Products and Engaging Customers 118
Give It Away 119
Free Trials Versus Free Forever Versus Freemium 121
Key Metrics for Free Trials to Pay 122
Viral Marketing 123
Using Social Media for Viral Marketing 125
When Do Giveaways Work? 126
Event Marketing 128
Consumer Events 130
Product Placement 131
Winning the Tchotchke Wars 132
Summary 134
Endnotes 134
Chapter 6 Advertising to Build Awareness and Reinforce Messaging 135
Synygy Generated Productive Ad Options for Low Cost 135
Moving to More Effective Advertising 138
Even Large Firms Waste a Lot of Their Advertising Expenditures 139
How Entrepreneurs Can Improve the Productivity of Their Advertising 141
Improving Campaigns 141
The Hindustan Lever (HLL) Missed Experimentation Opportunity 145
Victoria's Secret's Advertising and Testing Strategy 147
Evaluating Campaigns--"Vaguely Right" Versus "Precisely Wrong" 148
A National Retailer's Campaign Evaluation 149
"Vaguely Right" Entrepreneurial Marketing Experimentation 153
Evaluation Before Is More Valuable than After 154
Media Planning 157
Sample Template for Media Evaluation 158
The Digital Marketing Revolution--Evaluating and Maximizing Its "Bang Per Buck" 163
Display Ads 164
Search Engine Optimization 166
Evaluating the Return on Search Engine Marketing 170
Methods for Improving Productivity of Search Engine Marketing 171
SoLoMo, Personalization, and Other Emerging Digital Advertising Concepts 172
Summary 174
Endnotes 174
Chapter 7 Distribution/Channel Decisions to Solidify Sustainable Competitive Advantage 177
Anki--Emerging from Stealth Mode with Help from Apple 177
Making Distribution Decisions 179
Required Functions of Any Distribution System 180
Evaluating Distribution Options, a Disintermediation Example 182
Revisiting Positioning in the Context of Distribution 183
Other Aspects of Distribution System Design--Direct Versus Indirect 184
Owning Your Own Distribution--The Highest Control 185
Victoria's Secret and the L Brands' "Own Store" Channel Strategy 186
Indirect Distribution and Exclusivity Alternatives 188
Exclusive Distribution 189
Anki DRIVE--Launched by Exclusivity 190
Evaluating Channel Exclusivity 191
Item Exclusivity 193
Intensive Distribution 194
Selective Distribution 195
Brooks Sports--Integrating Selective Distribution with Effective Positioning and Segmentation 196
Preservation Hall Jazz Bands--A Selective Distribution Example 198
Types of Intermediaries--Earn Your Partners in Distribution 199
Neat, Co.--Using Kiosks (Direct Sales) to Earn Distribution 200
Nice Systems--A VAR Example 201
Dynamic Distribution Management 202
Superscope, Inc.--Couldn't Achieve Balance 203
Franklin Electronic Publishers 206
Franchising: Still Another Distribution Option 207
Different Types of Franchising 207
From the Franchisee's Point of View 208
From the Franchisor's Point of View 212
Rita's Water Ice--A Successful Franchising Venture 215
Managing and Anticipating "Channel Conflict" 218
Concept Testing to Channel Members 222
Summary 223
Endnotes 223
Chapter 8 Sales Management to Add Value 225
Plantronics 225
The Role of the Sales Management 226
Type of Sales Forces 229
Direct to End User 229
Resellers, Distributors, and Retailers 230
Value-Added Resellers 231
Agents, Brokers, and Representatives 231
The Control Issue: Choosing Your Sales Force 233
What Situations Favor Direct Versus Rep? 233
Choosing Reps 235
Effective Rep Management 236
Rep Management and the Perceived Value Proposition 237
Direct Sales: Personal Versus Telephone Versus the Web and Other Nonpersonal Sales 238
IndyMac: Using Both Direct and Indirect Sales Channels 241
Sales Force Size, Deployment, and Organization 242
Sales Force Size and Deployment 242
Deployment with Limited Sales Force Size 244
Sales Force Organization and Travel Costs 245
Compensation 245
Matching Incentives 245
Outback Steakhouse--Perfectly Matched Incentives 247
Incentives Versus Control Versus Time Horizons 247
Compensation for New Versus Existing Customers, a Possible Festering Problem 248
The Shadow Broadcast Services Example 249
Recruiting, Training, and Retention Strategies 252
Summary 254
Endnotes 255
Chapter 9 Marketing-Enabled Sales 257
MetricStream, Inc., and the Marketing-Enabled Sales Strategy 257
Marketing Tools to Support the Sales Process 258
Help Prospects Find You 260
Gain Prospect Interest and Trust 261
Company Website 264
Traditional Advertising 265
Pay per Click (PPC) Advertising 265
Social Media 267
Webinars 268
Trade Shows 269
Blog Posts 270
E-Mail Campaigns 270
Qualify Prospects and Identify Prospective Buyers 271
8x8 Reinvigorating Dormant Prospects 272
Drive Toward the Close 274
Submit the Proposal 274
Check References 278
Handle Objections 278
Close the Deal 280
Training Is Necessary 280
The Relationship Between Marketing and Sales 281
Summary 282
Endnote 283
SECTION THREE: EXECUTION--CULTIVATE THE PEOPLE AND RESOURCES TO MAKE YOUR MARKETING WORK 285
Chapter 10 Create an Ecosystem to Maximize Product/Service Lifetime Profitability 287
Pebble: The Start-Up Taking on Multibillion-Dollar Global Companies 287
Engaging Your Customers in Product Launch 289
The Beta Process 292
Reference Accounts 296
Reaching Target Reference Customers 298
Establishing a Compelling Offer 298
Building an Internal Resource Plan to Ensure a Successful Launch 300
Securing External Support for Your Product 302
Partnering for Launch 304
Channels of Distribution 305
Summary 306
Endnotes 306
Chapter 11 Entrepreneurial Marketing for Building Teams 307
Anki: From Classmates to a Company 307
Positioning for Talent 309
Segmentation: Understanding the Needs of Company and Employees 309
Differentiation: Setting Yourself Apart 312
Building a Team and Corporate Culture 313
Reaching the Prospects 315
Choosing the Prospect 317
Compensation: Pricing Your Talent 322
Summary 323
Endnotes 323
Chapter 12 Marketing for Financing Activities 325
Pebble: Preserving Equity with Crowdfunding and Venture Funding 325
Financing: A Different Product for a Different Customer 327
Product Versus Financial Marketing 329
A Financial Marketing Plan 329
The Buying Center 331
Segmentation of Investors 332
Crowdfunding 332
Angels 333
Venture Capital Firms 334
Incubators and Accelerators 335
Corporate Strategic Partners/Investors 336
Institutional Investors 337
Naming 337
Pricing--The Value of Your Venture 338
Venture Marketing 339
Initial Public Offering (IPO) 340
Investor Relations 341
Summary 343
Endnotes 343
Chapter 13 Building Strong Brands and Strong Companies 345
Why Is It Hard to Build Brands? 347
Can Entrepreneurial Marketers Overcome These Eight Difficulties in Building Brands? 354
Ten Guidelines for Building Strong Brands 355
Summary 358
Endnotes 358
Index 359
The #1 actionable guide to entrepreneurial marketing - now fully revised for the latest high-value techniques, channels, and metrics!
The Authors' and the Book's Heritage 3
The Importance of Marketing 4
One Positioning, Multiple Stakeholders 6
Challenges of the Next Decade 7
SECTION ONE: MARKETING STRATEGY--REFINE YOUR OFFERING AND POSITIONING 11
Chapter 1 Marketing-Driven Strategy to Make Extraordinary Money 13
Orvis Company--Excellent Entrepreneurial Positioning 13
Positioning to Enhance the Value Proposition 14
Getting Started: Segmentation and Targeting 16
Virtual Communities: The Ultimate Segment? 17
An Entrepreneurial Segmentation Example--Tandem's East 18
An Entrepreneurial Segmentation Audit 20
Gaining the Competitive Advantage: Differentiation 22
Distinctive Competence and Sustainable Competitive Advantage 24
Tying Together the Value Proposition: Distinctive Competence, Sustainable Competitive Advantage, and Positioning 27
Victoria's Secret and L Brands--Excellent Integration of Positioning, Segmentation, and Distinctive Competencies 29
Positioning, Names, and Slogans 31
Hindustan Unilever Limited: Positioning and Targeting to the Bottom of the Global Pyramid 33
The Unmet Need 34
Summary 39
Endnotes 39
Chapter 2 Generating, Screening, and Developing Ideas 41
Idea Generation and Testing at Idealab 41
Evaluating Specific Venture Ideas 42
Finding More Receptive Battlefields 43
Dry Tests, Crowdfunding, and Concept Testing: What They Are and Where They Are Best Used 46
Getting Customers to Part with Money: The Real Tests of Value 46
Victoria's Secret Uses Their Stores as Test Beds for New Products and Brands 48
Testing Purchase Intention: The Concept Test 49
How to Do Concept Testing--the "Nuts and Bolts" 50
Best Practices and Uses for Concept Testing 56
Caveats for Concept Testing 60
Trakus: The Value of Concept Testing 61
Summary 65
Endnotes 66
Chapter 3 Entrepreneurial Pricing: An Often-Misused Way to Garner Extraordinary Profits 67
Determining Price at Warby Parker 67
Pricing to Create and Capture Value 68
Price and Perceived Value 70
Getting Price Right Early--It's Hard to Raise Prices Later! 71
Perceived Value in Use for Business-to-Business Products 72
The SAS Institute, Inc.--Very Effective Management of Perceived Customer Value 74
Pricing of Intellectual Property 77
What Else Can Impact Price Response? 79
Customer-Determined Pricing 80
Revisiting Costs in Determining Price 82
Methods for Determining Revenue at Alternative Price Levels 84
Premarket Methods--Pricing and Concept Testing 84
In-Market Methods 90
Victoria's Secret Can Use Its Many Stores for In-Market Experimentation 95
Summary 96
Endnotes 97
SECTION TWO: DEMAND-GENERATION AND SALES--LEAD YOUR CUSTOMERS TO YOUR OFFERING 99
Chapter 4 Leverage Public Relations for Maximum Value 103
PayMyBills.com--Battling Competition with Public Relations 103
Aspire to Be a "Winner" 104
Gaining the Perception of Leadership 105
Spokespersons/Evangelists 109
Linkage to Fund-raising 111
PR Agencies 112
Timing Is Essential 113
Crisis Management 114
Summary 115
Endnote 115
Chapter 5 Promotion and Viral Marketing to Maximize Sustainable Profitability 117
The Coolest Cooler--One of Kickstarter's Most Successful Campaigns 117
Methods for Promoting Products and Engaging Customers 118
Give It Away 119
Free Trials Versus Free Forever Versus Freemium 121
Key Metrics for Free Trials to Pay 122
Viral Marketing 123
Using Social Media for Viral Marketing 125
When Do Giveaways Work? 126
Event Marketing 128
Consumer Events 130
Product Placement 131
Winning the Tchotchke Wars 132
Summary 134
Endnotes 134
Chapter 6 Advertising to Build Awareness and Reinforce Messaging 135
Synygy Generated Productive Ad Options for Low Cost 135
Moving to More Effective Advertising 138
Even Large Firms Waste a Lot of Their Advertising Expenditures 139
How Entrepreneurs Can Improve the Productivity of Their Advertising 141
Improving Campaigns 141
The Hindustan Lever (HLL) Missed Experimentation Opportunity 145
Victoria's Secret's Advertising and Testing Strategy 147
Evaluating Campaigns--"Vaguely Right" Versus "Precisely Wrong" 148
A National Retailer's Campaign Evaluation 149
"Vaguely Right" Entrepreneurial Marketing Experimentation 153
Evaluation Before Is More Valuable than After 154
Media Planning 157
Sample Template for Media Evaluation 158
The Digital Marketing Revolution--Evaluating and Maximizing Its "Bang Per Buck" 163
Display Ads 164
Search Engine Optimization 166
Evaluating the Return on Search Engine Marketing 170
Methods for Improving Productivity of Search Engine Marketing 171
SoLoMo, Personalization, and Other Emerging Digital Advertising Concepts 172
Summary 174
Endnotes 174
Chapter 7 Distribution/Channel Decisions to Solidify Sustainable Competitive Advantage 177
Anki--Emerging from Stealth Mode with Help from Apple 177
Making Distribution Decisions 179
Required Functions of Any Distribution System 180
Evaluating Distribution Options, a Disintermediation Example 182
Revisiting Positioning in the Context of Distribution 183
Other Aspects of Distribution System Design--Direct Versus Indirect 184
Owning Your Own Distribution--The Highest Control 185
Victoria's Secret and the L Brands' "Own Store" Channel Strategy 186
Indirect Distribution and Exclusivity Alternatives 188
Exclusive Distribution 189
Anki DRIVE--Launched by Exclusivity 190
Evaluating Channel Exclusivity 191
Item Exclusivity 193
Intensive Distribution 194
Selective Distribution 195
Brooks Sports--Integrating Selective Distribution with Effective Positioning and Segmentation 196
Preservation Hall Jazz Bands--A Selective Distribution Example 198
Types of Intermediaries--Earn Your Partners in Distribution 199
Neat, Co.--Using Kiosks (Direct Sales) to Earn Distribution 200
Nice Systems--A VAR Example 201
Dynamic Distribution Management 202
Superscope, Inc.--Couldn't Achieve Balance 203
Franklin Electronic Publishers 206
Franchising: Still Another Distribution Option 207
Different Types of Franchising 207
From the Franchisee's Point of View 208
From the Franchisor's Point of View 212
Rita's Water Ice--A Successful Franchising Venture 215
Managing and Anticipating "Channel Conflict" 218
Concept Testing to Channel Members 222
Summary 223
Endnotes 223
Chapter 8 Sales Management to Add Value 225
Plantronics 225
The Role of the Sales Management 226
Type of Sales Forces 229
Direct to End User 229
Resellers, Distributors, and Retailers 230
Value-Added Resellers 231
Agents, Brokers, and Representatives 231
The Control Issue: Choosing Your Sales Force 233
What Situations Favor Direct Versus Rep? 233
Choosing Reps 235
Effective Rep Management 236
Rep Management and the Perceived Value Proposition 237
Direct Sales: Personal Versus Telephone Versus the Web and Other Nonpersonal Sales 238
IndyMac: Using Both Direct and Indirect Sales Channels 241
Sales Force Size, Deployment, and Organization 242
Sales Force Size and Deployment 242
Deployment with Limited Sales Force Size 244
Sales Force Organization and Travel Costs 245
Compensation 245
Matching Incentives 245
Outback Steakhouse--Perfectly Matched Incentives 247
Incentives Versus Control Versus Time Horizons 247
Compensation for New Versus Existing Customers, a Possible Festering Problem 248
The Shadow Broadcast Services Example 249
Recruiting, Training, and Retention Strategies 252
Summary 254
Endnotes 255
Chapter 9 Marketing-Enabled Sales 257
MetricStream, Inc., and the Marketing-Enabled Sales Strategy 257
Marketing Tools to Support the Sales Process 258
Help Prospects Find You 260
Gain Prospect Interest and Trust 261
Company Website 264
Traditional Advertising 265
Pay per Click (PPC) Advertising 265
Social Media 267
Webinars 268
Trade Shows 269
Blog Posts 270
E-Mail Campaigns 270
Qualify Prospects and Identify Prospective Buyers 271
8x8 Reinvigorating Dormant Prospects 272
Drive Toward the Close 274
Submit the Proposal 274
Check References 278
Handle Objections 278
Close the Deal 280
Training Is Necessary 280
The Relationship Between Marketing and Sales 281
Summary 282
Endnote 283
SECTION THREE: EXECUTION--CULTIVATE THE PEOPLE AND RESOURCES TO MAKE YOUR MARKETING WORK 285
Chapter 10 Create an Ecosystem to Maximize Product/Service Lifetime Profitability 287
Pebble: The Start-Up Taking on Multibillion-Dollar Global Companies 287
Engaging Your Customers in Product Launch 289
The Beta Process 292
Reference Accounts 296
Reaching Target Reference Customers 298
Establishing a Compelling Offer 298
Building an Internal Resource Plan to Ensure a Successful Launch 300
Securing External Support for Your Product 302
Partnering for Launch 304
Channels of Distribution 305
Summary 306
Endnotes 306
Chapter 11 Entrepreneurial Marketing for Building Teams 307
Anki: From Classmates to a Company 307
Positioning for Talent 309
Segmentation: Understanding the Needs of Company and Employees 309
Differentiation: Setting Yourself Apart 312
Building a Team and Corporate Culture 313
Reaching the Prospects 315
Choosing the Prospect 317
Compensation: Pricing Your Talent 322
Summary 323
Endnotes 323
Chapter 12 Marketing for Financing Activities 325
Pebble: Preserving Equity with Crowdfunding and Venture Funding 325
Financing: A Different Product for a Different Customer 327
Product Versus Financial Marketing 329
A Financial Marketing Plan 329
The Buying Center 331
Segmentation of Investors 332
Crowdfunding 332
Angels 333
Venture Capital Firms 334
Incubators and Accelerators 335
Corporate Strategic Partners/Investors 336
Institutional Investors 337
Naming 337
Pricing--The Value of Your Venture 338
Venture Marketing 339
Initial Public Offering (IPO) 340
Investor Relations 341
Summary 343
Endnotes 343
Chapter 13 Building Strong Brands and Strong Companies 345
Why Is It Hard to Build Brands? 347
Can Entrepreneurial Marketers Overcome These Eight Difficulties in Building Brands? 354
Ten Guidelines for Building Strong Brands 355
Summary 358
Endnotes 358
Index 359
The #1 actionable guide to entrepreneurial marketing - now fully revised for the latest high-value techniques, channels, and metrics!
