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Book Review/Summary: How to become a marketing superstar -Concluded


Questions to Answer : Answer the following questions about the product on
-Market Segmentation
-advertising
-positioning

Product
-Why was it made?
-What is the raison d'etere for the product?
- What is your reasoning for selling it?
- Where can it be used?

Customer
Why does she buy it?
What need does it solve for her?

Selling strategy
-What benefit does it solve?
-Ask 'So what' for each benefit.(Derive benefits from features)

Quantitative:
How will the customer situation be improved?

Competition

What is customer using now? Why?
What are the disadvantages with the with current product?
How does your product compare with theirs?

How do you price to value?
Can you dollarize the returns on the product?
Who else is using product? Get details

What evidence have you got on product claims?


You must answer these questions. If you don't know the answers, find them.

Completely, objectively and correctly answer:
Why do customers buy your offering? Why do some choose otherwise?
Why do they buy from the competition?
What will it take for you/your competitor to get all the business?
Who are your customers' best suppliers? Why?
The answers can be hard to hear. Do not depend on the sales people to deliver honest answers.
Do not run from bad or unpleasant answers.
Get the answers from new or potential customers.

Compete for 'inches'.
Fight for every share.
Make one more call per week. Return every call. Send more ads to magazines. Never let up. Do not let victory be an inch away.
What can you do to reduce complaints, increase costs.

Archive and resurrect past promotions.
If it resonates with customers, reuse it.
Do not get strategy amnesia.
Old products and customers may mean new opportunities.
Repolish the silver.

Always sell inside first.
People are resistant to change. Sell to them and take away doubt.
You must convince them to do something new, different or do not want to do.
Resistance to new ways may be legitimate or imaginary. Some honest people may need new ideas.
Make presentations to get more acceptance.

Don't let perfect be the enemy of better.
If you are a little better than the competition, sell your product now.

Own a market, not a mill.
Factories or mills do not sell things.
Markets are the source of revenues.
Mills take money. Markets will make it.
Mills are hard to move.
Markets are fast to respond.
Markets make mills. Mills make what markets want.

Loss leaders are for loosers.
These are products that sell for a loss. The hypothesis is that the customer will buy another product instead of a loss leader. It is an excuse.
The larger the rebate, the more the customers who will collect it.

Never run a 3 page spread ad.
It is burning money.
It costs as much to run good advertising as it does to bad advertising

Shrink to Grow.
Shrinking sales can spur growth. Shrink the territory to grow.
Shrink market segments into new niches.

Throw appeals at the customer seeking to overwhelm.
Never let up. Always communicate, sell.
Dominate the customer's consciousness.

Your competition is lurking around you. Be aware of this. Do not underestimate the competition. Keep customers happy all the time. They are your first line of defence against the competition.

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