ProductCareer Management

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Product/CareerManagement

• MKT 750
• Professor West

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Agenda

• Discuss And Now a Word From Our Sponsor
• Discuss Marketing Yourself Memo
• Projection Techniques
• Keys to Building a Strong Brand
• Product Brand Life Cycle
• Product Positioning Differentiation

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Is It NewsOr Advertising?

• Why does actress Kathleen Turner discuss her
  arthritis on national television, rock singer Ann
  Wilson go public with her fight against obesity,
  or skater Peggy Fleming complain about her
  cholesterol?
• Unbeknownst to viewers, a lot of stars are paid
  to talk about their medical problems.

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Is this good marketing?

• Pros
• Well targeted
• Attention getting
• Consumers defenses are down
• Interpreted as WOM based on personal experience
  highly credible

• Cons
• Risky what will be said? How will the public
  react if they learn it is a paid announcement?
• Limited reach only 3 of adults watch morning
  news shows
• Will it get enough exposure to justify a million
  dollar contract?
• Deceptive trade practices will ignite the FTC

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Industry Response

• CNN has issued a policy and will tell viewers
  about the stars' financial ties. CNN will ask
  celebrities who want to talk about a medical
  issue whether they are being paid by a company
  and disclose the relationship during the
  interview

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Branding

• Marketers assess what consumers think about their
  brand by asking them to engage in a free recall
  task
• The task is a simple one. You give a person a
  piece of paper and pencil present a brand name
  and ask them to right down what comes to their
  mind in an ordered list.

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Is It News Or Advertising?

• La-Z-Boy remaking its image
• NPR Morning Edition story
• BW story

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Marketing Yourself

• This is the most important marketing plan you
  will ever write.
• Companies update their marketing plan on an
  annual basis, so should you.
• To write an effective marketing plan for yourself
  go back to the outline we discussed on Day 2.

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Step 1 Situation Analysis

• Who is the Company?
• You
• Who are the Consumers?
• Employers
• Who are your Collaborators?
• Career services, friends, family,
• People who work in the industry

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Step 1 Situation Analysis

• Who are your Competitors?
• Other potential employees
• What environmental factors need to be considered?
• Economy
• Shifting demographics
• Industry and technological changes shape what
  jobs are available

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Illustration

• I need a volunteer who is willing to go through
  this process for-the-sake of illustration? Who
  will help?
• I could also use someone who has gone through
  this process and has a job lined up to provide
  advice. Anyone willing?

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Marketing Yourself

• Personal Assessment (Company)
• What are my strengths weaknesses
• Character traits and skills
• Interests and goals
• Opportunity Assessment (Customers)
• Who are my target employers?
• Industry or Position?
• What are their needs?

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Commentary

• Each of these steps needs to be thought through
  very carefully.
• Consider what you have to offer that will be
  valued by employers (your benefits)
• Remember you are looking for features that will
  differentiate yourself from others

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Commentary

• Be sure to do your homework so that you know as
  much as you can about what employers are looking
  for in terms of skills
• Set up an informational interview with one or two
  people who work in the industry or position you
  aspire to collect this kind of information

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Marketing Yourself

• Finding Leads (Collaborators)
• Networking
• Dont be shy about talking to others
• Listen and show appreciation
• What youre up against (Competitors)
• Recognize that you are competing with many other
  well qualified individuals
• Seek to differentiate yourself

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SWOT

• Once you have completed your situation analysis
  summarize it the form of a SWOT table.
• (Include as an appendix)

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Step 2 Strategy

• Just as firms select a target market you need to
  identify target employers who will be most
  receptive to the skills (benefits) you have to
  offer.
• It is important that you have thought through how
  you want to be perceived by these employers
  (positioning)

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How are you perceived?

• Understanding a perceptual map can tell us a lot
  about what a consumer thinks about a brand, or
  what a recruiter will remember about you

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How are you perceived?

• Our long term memory is a network of nodes and
  linkages
• Marketers assess what consumers think about
  their brand by asking them to engage in a free
  recall task

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An Associative Network of Perfume
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What would you like to be associated with?

• Smart Analytical
• Skills
• Creative Business
• Honors Degree
• Student Marketing
• Major
• Hard
• Worker YOU
• OSU Volunteer
• Good Caring
• Citizen

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Worksheet

• What I want others to think of me
• ?
• ?
• ?
• ?
• ?
• ?

• Connection to reinforce desired attributes
• ?
• ?
• ?
• ?
• ?
• ?

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Product Positioning

• How you want to be perceived in the hearts and
  minds of the consumer
• Elements of a Positioning Statement
• Target group
• Need being fulfilled
• Point of differentiation
• Competitive advantage
• Support

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Product Positioning

• Point of Differentiation
• Product
• BMW positions itself on performance
• Bose offer unique design superior sound
  quality
• Channel
• Dell distinguishes itself by its high-quality
  direct channel

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The Drive.

• What makes a BMW a BMW? Anyone who owns or has
  sampled the joy of driving a BMW will answer the
  question, quite simply, with two words The
  Drive.
• It's that legendary Responsiveness that makes
  the driver feel at one with the car.
• It's Technology engineered for pleasure, where
  every detail is mobilized to serve the drive.
• It's Design built on the notion that form
  should always follow function.
• What makes a BMW a BMW? It's quite simple, The
  Drive.

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Product Positioning

• Point of Differentiation
• Product
• BMW positions itself on performance
• Bose offer unique design superior sound
  quality
• Channel
• Dell distinguishes itself by its high-quality
  direct channel

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Product Positioning

• Point of Differentiation
• People
• Disney is known for its friendly and upbeat cast
  (employees)
• Image Service
• Ritz-Carlton offers the finest in personalized
  service and their name is synonymous with quality

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How Many Differences to Promote?

• Unique Selling Proposition (USP)
• Pick one attribute and stick to it
• Crest toothpaste fights cavities (1956)
• It was not the first, but perceived to be the
  best
• Dominated the market for decades with a 33
  percent share in 1980, outselling Colgate two to
  one.

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How Many Differences to Promote?

• Some companies are trying to broaden their
  positioning strategies
• In response to Crests success, Colgate has been
  forced to focus on innovation
• Colgate developed new gels, pumps, and tartar
  control brands Crest followed.
• Crest fell to the number two brand in 1998
  following the launch of Colgate Total

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• Colgate Total claims to be the ONLY
  toothpaste to provide
• 12 hour protection
• that helps

? Fight Cavities ? Prevent Gingivitis ? Reduce
Plaque ? Control Tartar Build-Up ? Fight Bad
Breadth
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• Unilever introduced Lever 2000 offering
  cleansing, deoderizing, and moisturizing
  benefits

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Step 3 Tactical Plan

• Once you have identified your target employers
  and how you want to be perceived you need a plan
  of action to get the word out that you are in the
  market for a job.

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Commentary

• Remember what marketers do to get the word out to
  their target market.
• You have to think about the same stages they do
• Exposure ? Attention ? Comprehension
• ? Yielding ? Retention
• What does that mean in this context?

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Commentary

• If you rely on the same avenues that others are
  using you are not likely to get attention.
• How are you going to make a good impression once
  you have got attention?

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Marketing Yourself

• Exposure
• Personal Career events/job fairs and networking
• Impersonal Career services resume bank and
  direct mailing/cold calling
• Which do you think works better and why?
• What is the parallel to marketing products?

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Commentary

• The personal route is about face-to-face contact
  and personal experience
• This can enhance your chance of being remembered
  if you use the opportunity wisely to make a good
  impression

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Commentary

• The impersonal route can not be dismissed
  altogether.
• This entails working through career services to
  get your resume in front of recruiters, sending
  your resume to targeted employers, etc.
• However, here you are facing the same challenge
  marketers do when they try to advertise their
  product. Clutter can keep your message from
  getting through.

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Marketing Yourself

• Gaining Attention
• Personal Impression formation
• Impersonal Positioning and differentiation
• How can this be effectively managed?
• How can you get attention without being offensive?

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Marketing Yourself

• Retention
• Personal establish connections, stories
• Impersonal internships, experiences, interests
• How do you get someone to remember who you are?

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• What is your brand building strategy?
• Who are your target employers? Why?
• How do you want to be perceived in the hearts
  and minds of potential/current employers?
• Desired attributes skills

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• What is your brand building strategy?
• How will you differentiate yourself from other
  potential employees?
• Skills
• Character traits
• What is your competitive advantage and how do
  you intend to sustain it?
• Remember to strive to exceed expectations
• Product improvement is vital (education)

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Assignment

• Marketing Yourself memo is due on Tuesday