MARKETING @ STARTUP Bangalore Entrepreneur Meetup, Sunday Aug 9th Definition Marketing deals with identifying & meeting human & social needs “meeting needs profitably” A marketer is someone who seeks a response from another party, called the prospect Needs, Wants & Demands – starting point Target Markets, Positioning & Segmentation Offerings & Brands – across marketing channels Competition – how is the competition? Marketing for Consumers & Business – requires different approach We will mostly talk about consumer products / services here Segmentation, Targeting, Positioning Demographics, Geographical, Behavior Understand which segments you want to market Selected segments of the market – is your target for marketing your product Each target segment – will need a different means / way of positioning Ex: Leather Shoe – you want to market the shoes to 22- 26yrs working men & 50-55yrs retiring folks Positioning to a segment, need to deliver the message to target users NOTE: Be careful on your target selection, no point in trying to sell to all the segments Sales = Marketing? Sales is not Marketing Marketing gives you the insight for positioning your product Sales is using marketing inputs, channels to sell your product or service Marketing has spread the word about product & created the awareness to right people Sales help you talk to these aware people & get the customers Sales could be like 6 blind people, giving different description of Elephant, without the right marketing backing Do I need to spend on Marketing or Sales force good for me? Marketing Channels Web Banner Ads Paid Searches Word of Mouth Spread the word through high profile people Radio Ads or Sponsorship Talk shows Print Write Articles on Paper or Ads Mobile SMS Social Media Web is becoming Social, recognize – if you are targeting netizens Take Away! Hope this session was helpful & you have identified key take away for your startup!