It seems pretty obvious but which one should you be marketing? Sometimes it is the ugly one, not the real attractive one to market. However, I challenge you to narrowly focus on these items and look at a way to develop this portion your business. Put some sizzle back in it.

Don’t necessarily look at your competitors here; think of your own strengths. Think about those areas in which the organization excels. Leverage these to realize economies of scale and even the possibility to develop secondary products using your core products as leaders. Here is a 8-step process, you could use to go about it:

1. Describe your most profitable products.

2. Define any common characteristics of these products.

3. Analyze these characteristics; define core competences and processes that surround them.

4. Segment your customers that use these products.

5. Base your new marketing strategies on developing this customer segment.

6. Introduce new products to this segment first before trying to expand this segment.

7. If possible look at adding to the product line not only as an add-on sale but also find a low cost of entry into that product channel.

8. If these competences are hard to copy, give even greater priority to this segment.

Do you have any other suggestions?

Technorati : channel management, core competences, manufacture, product marketing

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In a previous post on Lean Six Sigma marketing-Explore , I had stated Explore, the data to identify a cause and effect relationship between variables, was the 3rd step in building a Lean Six Sigma marketing process. I also stated that in the Duct Tape Marketing planning system that the Remarkable Story and Product or Service Innovation coincided with the definition of Explore.

I think this is one of the most powerful tools but is the least understood. Establishing a baseline or as it is so well put in Michael Kennedy’s book Product Development for the Lean Enterprise :  “The root issues must be understood from two perspectives: what is causing them and what stands between how things should be and what they are. Failure to understand will result in widespread wishful thinking and superficial solutions.”

There is a true art to mapping and takes quite a bit of work to become proficient. However, utilizing Marketing Plan Pro will allow you to build that current state of your organization and your product or service. It is important to precisely know where you are at and be able to define that to your customer.

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1. 10 ideas for marketing in a tight economy.
2. Recession proof your business.
3. How to successfully market, your small business in tough times
4. Recession-Buster

That was an afternoon check of my e-mails. Ok, aside from the dot.com era which was largely regionalized, when was the last recession that all these people have gained their experience from?  The last recession that I really remember is in the Jimmy Carter era.  When we had, double-digit inflation, interest rates skyrocketing, and long lead times or scarcity. Does anybody remember?

We have been blessed for the last 25 years, with relatively low interest rates, practically zero inflation, and next day availability. With that in mind, I think it will be extremely interesting the path people will choose to counteract these turbulent times. Just ignoring it will not make it go away. Have we decided been there, done that – doesn’t count anymore. Have the recession – busters decided to "Just say No."

I think it’s a great time to re-evaluate your strategies for moving forward. To be completely transparent, I am a gray hair myself but I would recommend adding a little age to my circle of advisors. Most importantly in the strategic side of your planning.  I just don’t think it is going to hurt to have some been there, done there talent surrounding you. Just like the IRS will tell you, ignorance of a tax law is not an excuse. Ignorance of recession, if it happens, is not one either.

Important tip: Make 3 budgets out for next year. Best, Worst and what you think scenarios. Watch  the accounts that deviate the most.

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How is that possible? At first glance, I saw little synergy between these items but when you accept the fact that you are still in the strategic stages of the development of the marketing plan, the relationship starts coming together. The data to identify a cause and effect relationship between to variables can be simply put as Customer Needs and Your Solution. So, your product/service innovation must directly relate to solving the customers needs. Nothing more and nothing less. Spending time in understanding this market opportunity and more specifically as they apply to customer requirements is imperative. We must not forget to explore and evaluate these opportunities against our competitor’s offerings.

After that, we would translate the product offering into a Remarkable Story that must be customer centric and fit the organizations processes and culture. In telling that story, we must commit to something that would differentiate ourselves from our competition. It needs to be powerful and with the ability to quickly communicate that message. We must also devise and offering at each stage of our sales funnel.  Specifically describing the offering in detail so that the conversion process can be flawless.

Can everyone in your organization tell your story?  Does each and every person that is part of your sales funnel know what the specific offerings are throughout the entire process?  Do they all know the next step?

Other Related Post:

1. What is Six Sigma?
2. Lean Six Sigma Marketing
3. Lean Six Sigma Marketing – Define
4. What is Lean Six Sigma?(video)
5. Lean Six Sigma Marketing – Measure
6. Lean Six Sigma – Explore
7. Lean Six Sigma – Develop

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How is that possible? At first glance, I saw little synergy between these items but when you accept the fact that you are still in the strategic stages of the development of the marketing plan, the relationship starts coming together. The data to identify a cause and effect relationship between to variables can be simply put as Customer Needs and Your Solution. So, your product/service innovation must directly relate to solving the customers needs. Nothing more and nothing less. Spending time in understanding this market opportunity and more specifically as they apply to customer requirements is imperative. We must not forget to explore and evaluate these opportunities against our competitor’s offerings.

After that, we would translate the product offering into a Remarkable Story that must be customer centric and fit the organizations processes and culture. In telling that story, we must commit to something that would differentiate ourselves from our competition. It needs to be powerful and with the ability to quickly communicate that message. We must also devise and offering at each stage of our sales funnel.  Specifically describing the offering in detail so that the conversion process can be flawless.

Can everyone in your organization tell your story?  Does each and every person that is part of your sales funnel know what the specific offerings are throughout the entire process?  Do they all know the next step?

Other Related Post:

1. What is Six Sigma?
2. Lean Six Sigma Marketing
3. Lean Six Sigma Marketing – Define
4. What is Lean Six Sigma?(video)
5. Lean Six Sigma Marketing – Measure

Share this: