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How much does a butter chicken cost?<br />Image source: www.ezymeal.co.nz<br />

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Vivek Singh<br />Working in Hyderabad<br />Studied at IIM Ahmedabad<br />Marketing & Sales<br />FMCG , Steel, Real Estate & Edible Oils<br />Presentations Blogger<br />

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Nov 14<br />Saturday<br />Marketing for Start Ups<br />

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What is Marketing?<br />

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What brings the customer to your store (website) is Marketing. <br />

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Marketing is Customer Pull<br />Image source: http://freedigitalphotos.net/<br />

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Marketing is all about…<br />

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The <br />Target Consumer<br />Image source: www.openclipart.org<br />

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Hi!<br />My name is Target Consumer<br />

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Every one is not a consumer.<br />

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When you segment, <br />you can group them<br />

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Don’t Target<br />Target<br />Target<br />and target the groups which <br />are more lucrative $$$<br />

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Psychographic Profile<br />(Personality, Lifestyle, <br />Interest, Opinion)<br />Behavioral<br />(Benefit sought, User status)<br />Demographics <br />(Age, Sex, Income, Location,<br />Language, Education)<br />Market Segmentation<br />

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Task #1<br />Write down who your target consumer is?<br />

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Task #2<br />How have you segmented your market?<br />

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How do you target the consumer?<br />

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Steps in Targeting<br />Develop a strong value proposition<br />“Consumer pays XX and gets YY”<br />

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Steps in Targeting<br />Make your value proposition different from competition (Unique Selling Proposition)<br />

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Steps in Targeting<br />Develop a Reason to Believe (RTB).<br />Why should a consumer believe your proposition?<br />

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Task #3<br />What is your Proposition,USP and RTB?<br />

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Elevator Pitch<br />Image source: www.eastbaymom.com<br />

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What you do and Why are you better than others (USP)?<br />

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Put this on the back of your visiting card<br />

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Add this to your email signature<br />

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So consumers remember and pass it on (correctly)<br />

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Making an Elevator Pitch<br />What is your product/service?<br />What does it do for the consumer? (benefits)<br />Who is behind the company?<br />What is your competitive advantage?<br />Source: http://en.wikipedia.org/wiki/Elevator_pitch<br />

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Task #4<br />What is your Elevator Pitch?<br />

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Equipped with your propositionyou target the market<br />Image source: www.freeditigalphotos.net<br />

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Where to target the consumer?<br />

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Media habits<br />Listens to<br />Hang Out<br />Likes/Dislikes<br />

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Follow your consumer<br />

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Social Media<br />

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Image source: www.thedewview.wordpress.com<br />

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Use it if and only if your consumersare using social media<br />

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How many of you have a website and not a blog?<br />

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How many of you have not updated your blog in the last 30 days?<br />

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Have you uploaded your presentation on slideshare?<br />

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Task #5<br />Do you need a Social Media Strategy?<br />

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“Half the money I spend on advertising is wasted, and the problem is I do not know which half.”<br />- Lord Leverhulme, British founder of Unilever<br />

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Measure what you spend<br />

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A Start Up Case Study<br />

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How much does a butter chicken cost?<br />

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Rs.6,000 for 2<br />

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Anaarkali Butter Chicken<br />

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Who is their target consumer?<br />

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Target Consumer<br />Upper Middle Class<br />The Rich<br />Connoisseurs of Food<br />Living in Metros<br />Conspicuous Consumption<br />

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Proposition:World’s finest butter chicken<br />

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Unique Selling Proposition<br />Price<br />Home Delivery<br />Order online (only)<br />It is the only product they sell<br />

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Reason to Believe<br />Cooked by owner himself <br />Cooked for 12 hrs<br />Exotic ingredients<br />Took 8 years to perfect the recipe<br />

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Social Media Strategy<br />Website<br />PR<br />Media coverage<br />Link back to reviews on blogs<br />Facebook Fan Page<br />

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City Tours<br />Tangibilize the intangible<br />Bring in a personal touch<br />Meeting and taking feedback from consumers<br />

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To Summarize<br />Segment the market<br />Target the most lucrative ones<br />Define your target consumer<br />Understand the consumer<br />

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To Summarize<br />Develop value proposition, USP and RTB<br />Develop your elevator pitch<br />Develop a social media strategy (if needed)<br />Marketing ROI<br />

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Recommended Reading<br />

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BlogsSeth Godin (Internet marketing)Avinash Kaushik (Web Analytics)ProBlogger (Blogging)BookStay Hungry Stay Foolish<br />Image source: www.freeditialphotos.net<br />

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Vivek Singh<br />www.allaboutpresentations.com<br />