It was a while ago, but Reaching Curacao 2010- the Event, exceeded my expectations. More than 126 marketing people attended. Someone said: "all of marketing Curacao has come to a complete stop." And the comments were very encouraging.
I do have pictures, but technology is not cooperating.
After that, and a short illness, I worked hard on the report. We sold more reports than expected.
Thank you all for your support.
Planning the next thing, while I work on engagements that really allow me to pay the bills.
Showing posts with label marketing. Show all posts
Showing posts with label marketing. Show all posts
Thursday, July 1, 2010
Friday, May 7, 2010
Reaching Curacao 2010 - Why do we do it?
MarkStra Caribbean is not an advertising or media placing agency. We do not make advertisements. We do research, advise on competitive strategy, new products, prices, distribution channels, innovation, etc. But, once in a while we have to make media recommendations to clients, or assess in which medium good or bad publicity has the most impact, and thus warrants action.
I can never give a firm recommendation, and the advertising or media-buying agency we are working with cannot either. Our work is more complicated because of the extreme media proliferation in Curacao: 20something radio stations and almost 10 daily newspapers? When I had my first media job, in 1983, the landscape was quite different.
Yes, my colleague Disrael Orphelin did media surveys many years ago, mostly as a hobby. And yes, there is a media survey sold quite exclusively to a number of large advertisers. But the rest of our clients?
No matter how you turn it, in 2010, with so many highly educated marketing and advertising professionals working in Curacao this is simply not possible. It is also not possible because foreign companies do have the information, putting our local companies at a competitive disadvantage.
So why are we where we are with regards to media, while we do have lots of ongoing research with regards to other products and services?
I don't know the answer. Do you?
Meanwhile, learn more about Reaching Curacao 2010
Thursday, May 6, 2010
MarkStra Caribbean - 15 years!
Hey, it's our 15th anniversary year!
And we are celebrating:
- and adapted name
- a new style
- a new focus
- Reaching Curacao 2010
Tuesday, May 4, 2010
Reaching Curacao 2010 - The Report
But how many people are we talking about? what media is best to place this particular advertisement in?
It is obvious that we need (more) hard data on Curacao for good strategic and marketing decision-making.
The first report is Reaching Curacao 2010, containing:
- Size of Curacao market segments
- Our total combined spending on different product categories
- Our use of radio, television and newspaper and new media in Curacao by age, sex and social-economic class (SEC), and time most watched or listened
- Where we shop and roads most travelled by age, sex and SEC
- Global trends regarding media attitudes and generations! Yes, the generations are different.
Reaching Curacao 2010 - The Report is available at the special introductory price of ANG 1.500 if bought before June 1, 2010.
How is the Report different from the Event? It provides more detailed data:
- readership and audience by age, sex and SEC for all media
- more detailed data about spending on product categories
- more detailed information about media attitudes
Worried that you will have paid for the information while everybody else copies it?
- Valid concern. We will select the companies who can buy the report.
Thinking about ROI? If the report helps you:
- place two 3colx25cm ads better, you will have made your money back
- make a better decision about sponsoring radio newscasts for two months you will have made your money back
- reduce the one debate about market potential or guesswork about market size, you will have made your money back
Reaching Curacao 2010 - The Event
You can see the quality of our work and to enable small businesses to get at least some info. We hope to see you and your business development and marketing staff there!
To reserve your copy, please contact us at tlacruz@markstra.com or call 767-3085.
Reaching Curacao 2010 - Media Survey Methodology and FAQ
Methodology and frequently asked questions before the event.
- March 2010 was the 2nd time we conducted a survey about media usage as part of a Caribbean wide effort. The first was time was February 2009.
- The same survey has been done in at least 10 Caribbean countries at the same time.
- It's a telephone survey, among 320 respondents, representative of Curacao. We have made sure that each age group, sex and educational status is represented in roughly the same proportion as in Curacao. In addition, we have tried to make each group large enough so that we can base some realistic conclusion on the findings. If you only have the responses of 10 males between the age of 18-24, you cannot base much of a conclusion on that.
- Respondents were selected from our database (panel) and from random telephone listings. Why not just telephone listings? Because increasingly people do not want to answer questions from 'strangers'. Increasingly, around the world, market researchers are moving towards 'panels'.
What did we ask?
- newspapers most read the past month
- radio and tv stations listened to/watched each time of day
- ownership of several items, including computers, internet, cellphones, BlackBerry/Iphone
- use of internet
- use of Facebook and frequency
- most visited local website and frequency
- roads most travelled (2009)
- mode of transportation (2009)
- geographic areas most shopped (2009)
- demographics: age, sex, education, economic status (working, retired, student, etc.), profession, size of household
- all of the issues above by age group, sex and education. We have developed a system to determine Social-Economic-Class (SEC) based on some of the demographics above. We report that, instead of education.
How exact is the data?
- At a sample size of 320, the margin of error is around 5%. That means, if we find that 35% of all respondents reads newspaper Z, you can be 95% certain that the exact number is between 30% and 40%. Not exact enough? Consider what you are basing your media placement decisions on now...
Why didn't we use a larger sample size to provide more exact numbers?
- Cost. After Reaching Curacao 2010 The Event and The Report, we will see what the appetite is for this type of studies. If it is big, we will do larger surveys. We certainly hope it will be!
- ROI. When a research agency puts 1000 radio&tv monitoring boxes in households in Holland, advertisers stand to gain 100x more from the exact data these produce, than they would in Curacao. Why? Because the Dutch market is 100x larger and conducting a survey in Curacao is not 100x cheaper than in Holland. We can let ourselves be demotivated by the limitations of a small market or we can try to make the best out of it.
- For more information on this subject: Survey sample sizes in small markets
Reaching Curacao 2010 - The Event
Probably the first event on Curacao for Strategy and Marketing professionals, accessible to all business owners, CEO's, CMO's, other strategy, marketing and advertising professionals
And probably the first seminar most of us will attend at the brand new Hyatt Regency Curacao.
Yes, I am excited that this will be in partial celebration of MarkStra Caribbean's 15th anniversary!
Save the date!
Tuesday May 18th,
4pm-5:30pm, followed by networking
Hyatt Regency Curacao Arrawak Ballroom
Fee: ANG 95 or USD55
Register at Register Reaching Curacao 2010 The Event
Some people asked if there is an international speaker.
No! This will be the first time we will be discussing primarily Curacao strategy and marketing hard data, all together. Gezellig!
I promise it will be a unique and fun presentation, by myself, in English. But above all the data will be useful! Heads up for the preview
Please help us: if you are coming please try to register by May 10th.
We must indicate the number of attendants wayyyyy in advance.
Reaching Curacao 2010 - An introduction
A frequent cry: “There is no data on Curacao”. Often followed by the realization of the acute need for hard data for good strategic and marketing decisions
- A compilation of the important demographics in Curacao, including the size of different market segments, to help you or your client determine how attractive a consumer segment really is
- Our combined spending on some important product categories
- Our use of radio, television and newspaper and new media in Curacao by age, gender and social-economic class
- Where we shop and roads most travelled. Ever wonder where the best places are to put billboards, without having to revert to "you-say-I-say"?
- Global trends regarding media attitudes and generations! Yes, the generations are different.
Monday, May 25, 2009
Latin American economies
Last week I attended the 39th General Assembly of ALIDE - Asociacion Latinoamericana de Instituciones Financieras para el Desarrollo - including the Caribbean. While Caribbean economies are well-known to me, it was a welcome refresher in Latin American economies.
The key take-aways for me were:
The key take-aways for me were:
1. between 2000 and 2007 poverty in Latin America was reduced by 10%, meaning that 40 million people rose out of poverty.
2. if you want to know what the future areas of growth will be, examine what the main research areas in U.S. universities are. Now these are energy, and water
3. in Latin America also the growth in tourism can be exponential with targeted investments in tourism, as the case of North Eastern Brazil shows.
So, it leads me to think how small economies can use this knowledge to their advantage.
Online marketing - gaming
I spent a workday at the beach learning about the online gaming industry and the latest developments in online marketing in general. How much the industry has changed since I was first introduced to the concept many years ago. It has kept me wondering how to apply the learnings to other similar industries and markets.
Friday, September 26, 2008
What to expect as a focus group participant?
So, you have been asked to participate in a "focus group". What now?
In our post What is a focus group? you can learn more about the purpose of a focus group.
Why have you been invited?
You are invited based on certain characteristics of yourself, your family, your business, etc. These often include age, gender, kids/no kids, lifestyle, type and size of business, or your function within a business.
Our recruiters often "think" you may qualify. They ask additional questions to be certain that you do. If you do, they will give you the date, time and location for your session. Often you cannot choose a different date because the characteristics of the participants vary according to the session.
What should you expect?
- A pleasant exchange of ideas guided by a moderator. Many participants find the groups very informative because you can learn about other solutions to the challenges you face.
- Five to eight other panelists, a moderator and often an assistant moderator will be present.
- Alist of topics that must be covered, but other than that it is an unstructured discussion.
- A moderator who is prepared to lead the discussion, but who is not an expert on the topic. Even if she is, she will not show it. She is there to learn from you!
- Your views to be listened to and valued. There are no right or wrong answers. This is not a test. Sometimes the group is asked to solve a problem. In those cases it is not the solution that is important, but the issues that participants raise in getting to the solution.
- Expect the question "why". "Why do you do that?" "Why do you think that?"
- Depending on the topic, the session may also be audio- or video recorded to assist in the analysis and report writing. The recordings will not be shared with the client or anyone else. Recordings are destroyed after the report is written.
- You will not be contacted by anyone based on your participation or what you said. This is not a session to generate sales leads.
- A reward in cash or kind for your input.
What do we expect from you?
- to arrive on time and stay the whole session
- if you must cancel, to do so in advance through your recruiter
- to come prepared to share your experience, ideas and reasons for those ideas
- to speak up, whether you agree with the popular view or not
- to give everybody a chance to speak and treat each other with respect
- to have fun
- if you have suggestions after the session, to please let us know through info@markstra.com
As a Certified Moderator, the real reward is to see the exchange, how people learn from each other and the fun they have. I always appreciate your presence and your input. I hope you decide to participate.
What is a focus group?
This article is posted especially for the benefit of those we ask to participate in our focus groups. It is an excerpt from the quintessential marketing research text book, “Marketing Research", by David Aaker. V. Kumar and George Day. Please also see our post "What to expect as a focus group participant".
Focus group studies are a qualitative research method.
"Qualitative research is done to obtain a basic feel for the problem before proceeding to the more analytical portion of the study.
[...] to find out what is in the consumer's mind
[...] to get a rough idea about the person's perspective
[...] to become oriented to the range an complexity of consumer activity and concerns."
"A focus group discussion is the process of obtaining possible ideas or solutions to a marketing problem from a group of respondents by discussing it. The emphasis in this method is on the results of group interaction when focused on a series of topics a discussion leader introduces. Each participant in a group of five to nine persons is encouraged to express views in each topic and to elaborate on or react to the views of the other participants."
"The focus group discussion offers participants more stimulation than an interview; presumably this makes new ideas and meaningful comments more likely. Among other advantages, it is claimed that discussions often prove more spontaneity and candor than can be expected in an interview. "
In the end one knows the range of consumer expectations and motivating factors, and thus which products or services to offer or how to improve existing ones.
Focus group studies are a qualitative research method.
"Qualitative research is done to obtain a basic feel for the problem before proceeding to the more analytical portion of the study.
[...] to find out what is in the consumer's mind
[...] to get a rough idea about the person's perspective
[...] to become oriented to the range an complexity of consumer activity and concerns."
"A focus group discussion is the process of obtaining possible ideas or solutions to a marketing problem from a group of respondents by discussing it. The emphasis in this method is on the results of group interaction when focused on a series of topics a discussion leader introduces. Each participant in a group of five to nine persons is encouraged to express views in each topic and to elaborate on or react to the views of the other participants."
"The focus group discussion offers participants more stimulation than an interview; presumably this makes new ideas and meaningful comments more likely. Among other advantages, it is claimed that discussions often prove more spontaneity and candor than can be expected in an interview. "
In the end one knows the range of consumer expectations and motivating factors, and thus which products or services to offer or how to improve existing ones.
Thursday, May 15, 2008
What are your destination’s “accidental” brands?
You don’t have to go to Jamaica to know that it has great beaches, rivers, waterfalls and flora. Then again, several Caribbean islands have those.
But, I don’t think anyone can leave Jamaica and not know what is unique and innate to Jamaica:
- Blue Mountain Coffee
- The Jamaican Bob Sled Team (with its own restaurant and merchandise at the airport)
- The colors of the Jamaican Flag (used in every imaginable tourist-related product)
- The colors of the Rastafarian movement (see above)
- Braids
- Jamaican Jerk
- Chicken-every-imaginable-style
- *Bob Marley*
What a great diversity: music, food, colors, entertainment, “boutique” java, sports and fashion.
And most sustainable and renewable.
Three Questions for you:
- What are your destination’s unique and innate accidental brands?
- How can they be exploited, preferably in a sustainable way?
- Is there something for every taste?
Why you should know the trends
Competition is tough. Those who survive and thrive are those who can come up with new product ideas, innovations, and effective strategies to get these to the customer… first (or almost first). Not any new product or customer care innovation or strategy. No, those ideas and innovations that appeal to your customer. And, alas, the speed of change in customer tastes and preferences. Generations amorph. Lifestyles change. Developments outside of your product category now influence yours like never before.
If you are in charge of innovation, customer care or strategy at your organization, how do you keep track? If you are on a small island, it’s a two-edged sword. What you see in the U.S. (or elsewhere) this year will be on your island at least a few months later. So, you have time to prepare. But, unless you spend enough time abroad and sit down to analyze what you see, you won’t know the trends.
That’s where a trend analyzer comes in handy. Michael Tchong of Ubercool, “The most influential trendspotter in America”, according to the London Daily Telegraph, will be in Curacao to take us through his analysis of global trends this coming May 29th. He is hosted by the Hospitality Sales and Marketing Association International Curacao.
Mr. Tchong has spoken, among others, for Evian North America, Diageo, Euroforum in Rotterdam, several realtor associations in the U.S., Visa Europe in Istanbul, Luxury Home Marketing, Ubertrends in Colombia, several hospitality groups across the U.S. and at the Harvard Business Club.
He will take us on a whirlwind tour of the most telling trends and leaving you infused with new ideas that make sense. As a professional you cannot afford to not be aware of possible innovations (unless you can afford not to have a job). But, even if you are not specifically in charge of innovations, his presentation will leave you impressed and inspired.
Visit www.hsmaicuracao.org for more information and to register.
If you are in charge of innovation, customer care or strategy at your organization, how do you keep track? If you are on a small island, it’s a two-edged sword. What you see in the U.S. (or elsewhere) this year will be on your island at least a few months later. So, you have time to prepare. But, unless you spend enough time abroad and sit down to analyze what you see, you won’t know the trends.
That’s where a trend analyzer comes in handy. Michael Tchong of Ubercool, “The most influential trendspotter in America”, according to the London Daily Telegraph, will be in Curacao to take us through his analysis of global trends this coming May 29th. He is hosted by the Hospitality Sales and Marketing Association International Curacao.
Mr. Tchong has spoken, among others, for Evian North America, Diageo, Euroforum in Rotterdam, several realtor associations in the U.S., Visa Europe in Istanbul, Luxury Home Marketing, Ubertrends in Colombia, several hospitality groups across the U.S. and at the Harvard Business Club.
He will take us on a whirlwind tour of the most telling trends and leaving you infused with new ideas that make sense. As a professional you cannot afford to not be aware of possible innovations (unless you can afford not to have a job). But, even if you are not specifically in charge of innovations, his presentation will leave you impressed and inspired.
Visit www.hsmaicuracao.org for more information and to register.
Friday, January 4, 2008
Marketing, Advertising, Public Relations. What's the difference Part II
This is the second of a three part series. The previous post dealt with Public Relations. The next will deal with Marketing.
As competition increases, the focus on marketing also increases. When I started working in marketing in the Caribbean 20 years ago, very few companies had marketing staff. Today, that's the exception rather than the rule. Unfortunately though, it is not always clear to non-marketers and some marketers alike what the function encompasses. Terms such as public relations, advertising and marketing are sometimes used interchangeably. When we do so, we omit to consider all the tools available to attract good customers.
This is an effort to provide some clarification.
Advertising
When competition increased, companies started to try to explicitly convince buyers to buy their product. Up to quite recently accountants and lawyers in Curacao did not do so. Now they have started putting up advertising, telling us what they are good at. Soap manufacturers went down this path many decades ago. Banks started some 20 years ago and now are at it in full force.
Advertising is "any paid form of non-personal presentation and promotion of ideas, goods, or services by an identified sponsor" (Armstrong, Kotler). It involves designing advertisements and campaigns and placing these on radio, TV, billboard, Internet, in the paper or magazines, etc. Some companies, "advertising agencies", are able to do everything following a well-thought out strategy. Others do part of the process. Graphic designers in principle just design an advertisement following the specific instruction of the advertiser/client. Copywriters just write a text following instructions of others. Independent photographers, video producers, etc. in principle also follow instructions of others. Their creative juices should be flowing within boundaries set by the client or determined by a strategy.
Marketing communication
Advertising and public relations are now often referred to as marketing communication.
(Sales) Promotion
The term "promotion" may cause confusion. It is conveniently used in the four marketing P's to denote everything that has to do with communicating with the client: advertising, public relations, direct marketing, sales, customer service, and sales promotion.
However, if you want to use the terms correctly then (Sales) Promotion is "short-term incentives to encourage the purchase or the sale of a product or service" (Armstrong, Kotler). Think of sweepstakes, raffles, buy-one-get-one-free, give-aways, coupons, programs in which you save and get something later, etc. In Curacao we often call them "kampana" or "speshal".
Why are they used? Everybody already has a toothpaste. If you are introducing a new toothpaste you must convince the customer to leave his old toothpaste and buy yours. An incentive in the form of a gift, lower price, a free trial, etc. may do so. A good sales promotion always induces the customer to "ACT NOW" or its gone.
Read about Marketing in the next post.
As competition increases, the focus on marketing also increases. When I started working in marketing in the Caribbean 20 years ago, very few companies had marketing staff. Today, that's the exception rather than the rule. Unfortunately though, it is not always clear to non-marketers and some marketers alike what the function encompasses. Terms such as public relations, advertising and marketing are sometimes used interchangeably. When we do so, we omit to consider all the tools available to attract good customers.
This is an effort to provide some clarification.
Advertising
When competition increased, companies started to try to explicitly convince buyers to buy their product. Up to quite recently accountants and lawyers in Curacao did not do so. Now they have started putting up advertising, telling us what they are good at. Soap manufacturers went down this path many decades ago. Banks started some 20 years ago and now are at it in full force.
Advertising is "any paid form of non-personal presentation and promotion of ideas, goods, or services by an identified sponsor" (Armstrong, Kotler). It involves designing advertisements and campaigns and placing these on radio, TV, billboard, Internet, in the paper or magazines, etc. Some companies, "advertising agencies", are able to do everything following a well-thought out strategy. Others do part of the process. Graphic designers in principle just design an advertisement following the specific instruction of the advertiser/client. Copywriters just write a text following instructions of others. Independent photographers, video producers, etc. in principle also follow instructions of others. Their creative juices should be flowing within boundaries set by the client or determined by a strategy.
Marketing communication
Advertising and public relations are now often referred to as marketing communication.
(Sales) Promotion
The term "promotion" may cause confusion. It is conveniently used in the four marketing P's to denote everything that has to do with communicating with the client: advertising, public relations, direct marketing, sales, customer service, and sales promotion.
However, if you want to use the terms correctly then (Sales) Promotion is "short-term incentives to encourage the purchase or the sale of a product or service" (Armstrong, Kotler). Think of sweepstakes, raffles, buy-one-get-one-free, give-aways, coupons, programs in which you save and get something later, etc. In Curacao we often call them "kampana" or "speshal".
Why are they used? Everybody already has a toothpaste. If you are introducing a new toothpaste you must convince the customer to leave his old toothpaste and buy yours. An incentive in the form of a gift, lower price, a free trial, etc. may do so. A good sales promotion always induces the customer to "ACT NOW" or its gone.
Read about Marketing in the next post.
Thursday, January 3, 2008
The marketing of green: 5 ways to be part of the trend
Green has taken center stage, not just because of global warming, but also because of the price of oil. Finally going green also makes good business sense immediately (the way business people, unfortunately, like it).
Here are five tips to ride the trend. Remember though, you can ride the trend, but you must be sincere. Otherwise it will hurt your brand.
- Use green to add value for your customer. I always thought a restaurant with its own vegetable, flower or herb garden is a neat idea. Now, it reduces transportation costs... and there is really nothing to beat freshly picked vegetables on the plate and flowers on the table.
- Use green to attract customer segments with a special affinity for the environment. You can imagine that if you are the only company in your category known to reduce, reuse or recycle water, energy, bags, etc., you may appeal to certain segments. This strategy works best for companies that are seen to provide a near-commodity, such as banks, insurers, and airlines. There are not so many other tangible sources of differentiation.
- Develop new uses for your products using green. Curacao cantaloupe is an additional way to use Curacao liqueur.
- Support efforts that reuse the waste that your company produces. In Jakarta, my friend Roy and his team make the coolest laptop bags from empty tubes of toothpaste found on the streets.
- Use green to distinguish your brand or company from others for a short moment. At MarkStra, our corporate gift this year was a reusable crate for shopping and a list of tips. Let me say that I consciously try to reduce our footprint through composting, planting trees, and several other efforts. But, I admit... the empty reusable crate over the holidays was to distinguish us from the habitual well-wrapped baskets well-filled with goodies.
The greening of marketing: the 60-30-10 rule
When I started MarkStra in 1995, the Guerrilla Marketing Handbook by Jay Levinson and Seth Godin provided ingenious, effective, practical and low-cost marketing thoughts and tips for my own company and our clients. Here is one:
"When planning a direct mail campaign, remember to follow the commonly known 60-30-10 rule.
Have you stopped to evaluate if its worth it, both for your bottom line and for the environment, to produce some of the super-creative marketing material we marketeers strive for? Especially when you know that super-creative material is not exceedingly effective in attracting customers?
"When planning a direct mail campaign, remember to follow the commonly known 60-30-10 rule.
- Sixty percent direct mail success lies in using the right mailing list;
- Thirty percent depends on your making the right offer (that is, an offer that satisfies the customer's needs better than the competitor and provides value to him or her);
- Ten percent depends upon your creative package"
Have you stopped to evaluate if its worth it, both for your bottom line and for the environment, to produce some of the super-creative marketing material we marketeers strive for? Especially when you know that super-creative material is not exceedingly effective in attracting customers?
Monday, December 17, 2007
Garbage as fashion
Getting back in touch with my friend Roy Tan was one of the most pleasant moments provided to me by technology this year. This for several reasons.
First because Roy, an ex-Citibanker who now lives in Indonesia, and his colleagues at Brandt International have developed a very effective sales performance management tool, which we are about to start marketing in the Caribbean. The premise: Just because someone is a good salesperson doesn't mean s/he can become a good sales manager. One needs different skills.
Second because Roy is involved in a project called XS Project Europe. They make artsy fashionable laptop and other tote bags from plastic garbage collected by poor trash pickers on Jakarta's streets. Each is one of a kind and artistically designed. Sometimes you can even recognize which brand the tube of toothpaste was from. It's well worth a visit.
First because Roy, an ex-Citibanker who now lives in Indonesia, and his colleagues at Brandt International have developed a very effective sales performance management tool, which we are about to start marketing in the Caribbean. The premise: Just because someone is a good salesperson doesn't mean s/he can become a good sales manager. One needs different skills.
Second because Roy is involved in a project called XS Project Europe. They make artsy fashionable laptop and other tote bags from plastic garbage collected by poor trash pickers on Jakarta's streets. Each is one of a kind and artistically designed. Sometimes you can even recognize which brand the tube of toothpaste was from. It's well worth a visit.
Friday, December 14, 2007
Marketing, advertising, public relations. What's the difference part III
Marketing and MarkStra
This is the third of a series on the difference between marketing, advertising and public relations. People often use the terms as synonyms, or are not sure what the difference is. By doing so companies like yours fail to notice and make full use of the tools available to convince the customer to buy from you.
At one point companies realize that public relations, advertising and promotion alone will not convince customers to buy or remain loyal. While many companies arrive at "marketing" at a later stage in life, it is a function that is performed before (in time and planning) "advertising and public relations". Advertising and public relations are quite explicitly just a part of marketing.
Marketing theory has it that there are more aspects that influence buyers to buy and which companies can be unique in. Conveniently, we use four (or six) p's, as follows.
This is the third of a series on the difference between marketing, advertising and public relations. People often use the terms as synonyms, or are not sure what the difference is. By doing so companies like yours fail to notice and make full use of the tools available to convince the customer to buy from you.
At one point companies realize that public relations, advertising and promotion alone will not convince customers to buy or remain loyal. While many companies arrive at "marketing" at a later stage in life, it is a function that is performed before (in time and planning) "advertising and public relations". Advertising and public relations are quite explicitly just a part of marketing.
Marketing theory has it that there are more aspects that influence buyers to buy and which companies can be unique in. Conveniently, we use four (or six) p's, as follows.
- product itself (design, innovation, features, color, taste, etc.)
- price
- place. Meaning the way a product is distributed (in person, via mail, Internet, phone, etc.) and where it can be obtained. If it is a store, if the store is conducive to buying, or if products are well displayed
- promotion. Meaning public relations, advertising as well as sales promotion.
I usually add two p's. Technically, they belong under "product" and/or "promotion". But their existence and usefulness may get lost when talking about product or promotion. And how useful and relevant they are in our times!
- people. Meaning the customer care and sales potential of employees. Companies that provide a service are increasingly important. In addition, the level of service (customer care) can be an important distinguishing feature.
- partnerships. Meaning alliances your company has with others to provide a product. Think about American Airlines with Visa, several hotel chains, car rentals, etc.
At MarkStra Marketing is what we do for a living. We assist the client with determining the right product content, price, distribution channels, promotional tools, people and partnerships.
We may work with other companies to create and execute advertising campaigns, but we ourselves are not equipped to design or write copy for them. The campaigns we may create together with our partner companies are better than the average, because we have considered thoroughly ALL the other aspects that influence a buyer.
In the next post more detail about the marketing process.
Marketing, advertising, public relations. What's the difference Part I
There is still a lot of confusion among non-marketers and some "marketers" alike about what the difference is between marketing, advertising and public relations. It is the marketer's own fault because we assume everyone knows. Even as I set out to write this post, I am wondering if it is useful. This is most definitely not a post for marketing professionals. But it may be helpful for their non-marketing colleagues.
Of special concern is the fact that marketing and advertising are used as synonyms, interchangeably. By doing so clients and their providers omit to consider some important aspects that influence buyer behavior and hence their bottom line.
Next the first of a three part series which overview in what I think may be the order in which an established company that is seeking to increase its marketing performance may arrive at each stage.
Public Relations
Public Relations is "building good relationships with the company's various publics by obtaining favorable publicity, building up a good corporate image and handling or heading off unfavorable rumors, stories and events" (Armstrong,Kotler).
There was a time when "public relations" was the only tool companies used to connect with their clients. Think of issues such as cutting ribbons and making donations, followed by press releases. This, primarily because competition was much less than it is today. Just appearing in the paper was enough for people to consider your product. In addition, often every company in the category provided almost the same good (a commodity). Banks are a good example. Prior to the US deregulation of banks in the mid 1980's, all banks had the same product, same interest, same branches, etc. They were only promoting their "corporate image", but not specific products. In addition, this "image" was just "a picture". It was not a "picture-with-a-meaning", which is what a "brand" is.
The public relations functions has changed through the years. In good hands, it is now being used more explicitly and more effectively to gain customers. This year Cura-Peska held workshops and appeared on talk shows to provide information about fishing in Curacao. While these activities can be classified as "public relations", they were most definitely meant to attract customers.
Read the next post for Advertising.
Of special concern is the fact that marketing and advertising are used as synonyms, interchangeably. By doing so clients and their providers omit to consider some important aspects that influence buyer behavior and hence their bottom line.
Next the first of a three part series which overview in what I think may be the order in which an established company that is seeking to increase its marketing performance may arrive at each stage.
Public Relations
Public Relations is "building good relationships with the company's various publics by obtaining favorable publicity, building up a good corporate image and handling or heading off unfavorable rumors, stories and events" (Armstrong,Kotler).
There was a time when "public relations" was the only tool companies used to connect with their clients. Think of issues such as cutting ribbons and making donations, followed by press releases. This, primarily because competition was much less than it is today. Just appearing in the paper was enough for people to consider your product. In addition, often every company in the category provided almost the same good (a commodity). Banks are a good example. Prior to the US deregulation of banks in the mid 1980's, all banks had the same product, same interest, same branches, etc. They were only promoting their "corporate image", but not specific products. In addition, this "image" was just "a picture". It was not a "picture-with-a-meaning", which is what a "brand" is.
The public relations functions has changed through the years. In good hands, it is now being used more explicitly and more effectively to gain customers. This year Cura-Peska held workshops and appeared on talk shows to provide information about fishing in Curacao. While these activities can be classified as "public relations", they were most definitely meant to attract customers.
Read the next post for Advertising.
Branding Curacao's International Financial Sector
Some 18 months ago, out of pure interest, I started examining what could be the unique competitive advantages of Curacao's international financial sector. The many years of expertise suggest that a unique competitive advantage must exist. Only, I believe the sector has been promoting benefits that now exist in most jurisdictions.
Recently a picture of a beautiful Curacao monument used in a some promotional material for the sector, triggered a discussion and further thought. First about the image the sector really wants to portray. Second, about what potential clients are impressed by and therefore what image (brand) the sector should portray. And then we discussed what picture would best fit with what these clients look for in a Caribbean jurisdiction and therefore what picture we should use. A classic brand essence exercise, but done informally.
I do not know. As many Curacaoans I am proud of our monuments and the fact that our city is on the UNESCO World Heritage List.
Monuments are classic and depict a proper conservatism. That image may very well be necessary. I also know that in at least some sub sectors of the industry, the people are young, risk-takers, educated at some of the premier schools of the world. Now everyone is connected 24/7, the world is fast, global. Unfortunately, in international business, we expect images to be the same wherever we are. That suggests a "seamless fit".
So, it merits further thought and discussion. Most people in the industry are accountants or lawyers, who are less inclined to truly "market". That is not their strength. Proper market research, followed by the appropriate strategy would be a good step to take.
Recently a picture of a beautiful Curacao monument used in a some promotional material for the sector, triggered a discussion and further thought. First about the image the sector really wants to portray. Second, about what potential clients are impressed by and therefore what image (brand) the sector should portray. And then we discussed what picture would best fit with what these clients look for in a Caribbean jurisdiction and therefore what picture we should use. A classic brand essence exercise, but done informally.
I do not know. As many Curacaoans I am proud of our monuments and the fact that our city is on the UNESCO World Heritage List.
Monuments are classic and depict a proper conservatism. That image may very well be necessary. I also know that in at least some sub sectors of the industry, the people are young, risk-takers, educated at some of the premier schools of the world. Now everyone is connected 24/7, the world is fast, global. Unfortunately, in international business, we expect images to be the same wherever we are. That suggests a "seamless fit".
So, it merits further thought and discussion. Most people in the industry are accountants or lawyers, who are less inclined to truly "market". That is not their strength. Proper market research, followed by the appropriate strategy would be a good step to take.
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