Video 1 - How to Market a Mousetrap

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Do curso por Fundação Instituto de Administração

Sales & Marketing Alignment

6 ratings

Fundação Instituto de Administração

Sales & Marketing Alignment

6 ratings

Curso 4 de 5 em Specialization Strategic Sales Management

Welcome to Course 4 – Sales & Marketing Alignment. This course focus on what is considered by most academics and practitioners as the biggest challenge that sales professionals have to face. As we discussed in Course 1 – Effective Sales, strategy, and sales must be integrated to support a high potential for value creation through the sales functions. We also mentioned that strategy and sales integration can be supported by marketing functions. The discussions then went through sales strategy supported by intelligence analysis (Course 2), sales models and frameworks to support sales planning (Course 3). By the consequence, at this point of this specialization, you are in a good position to go further in the sales planning and management functions. And this is the moment to tackle one of the biggest challenges that most sales professionals must address with diligence – Sales & Marketing Alignment. The primary learning outcome of this course is to prepare you to apply concepts to support this alignment, with prescriptions and recommendations that contribute to improving the alignment. The improvement in the knowledge, competencies, and skills regarding sales & marketing alignment will contribute to increasing the potential for value creation from a strategic sales planning approach.

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MODULE 1 - Marketing Principles for Strategic Planning

This module is aimed to deepen the discussion regarding marketing and strategy concepts. And these concepts play a critical role in the sales planning and management functions. A company's managers can perform this role smoothly; another company's managers may have limitations in this process. In the latter case, marketing and sales functions will be misaligned, which reduces the company's value creation potential through the sales. Therefore, this module initiates Course 4 with focus on the marketing foundations that relate to sales. The module's primary learning outcomes are - Improved understanding of the foundations of marketing and how they interact with sales; identify the interactions between marketing related variables and the sales functions; and improved knowledge and skills to support marketing planning through the sales team contributions in product development, pricing, place, and promotions.

Video 0 - Welcome to Course 4 - Why this Course is Absolutely Crucial to Anyone in Sales3:50

Video 1 - How to Market a Mousetrap7:26

Video 2 - Marketing Overview - A Brief History of Marketing6:19

Conheça os instrutores

Samantha Mazzero
MSc, MBA, BS Math
FIA Profuturo – Futures Studies Program
Nelson Yoshida
Ph.D., MBA, B.Eng.
FIA Profuturo – Futures Studies Program
Cesar Rodrigues
Specialist Professor

[MUSIC]

[SOUND] Hello, again, I'm Cesar Rodrigues.

We are starting a new journey today.

Our course number four in our Strategic Sales Management Specialization.

I hope you're as excited as I am to discuss the sometimes

challenging interaction between sales and marketing.

If you're a sales professional,

you have had continuous engagement with marketing, and also the other way around.

We have discussed extensively sales, selling and

salespeople in the previous three courses.

Now we move to dissect marketing in all its intricacies and

idiosyncracies as well.

Of course, marketing is a very extensive topic.

Just in Coursera, by mid 2017,

there were 456 courses that dealt with

marketing in the English language alone.

So if you want to deep dive on the marketing discipline,

you have plenty of choices.

What I mean here is that our focus will be clearly on where sales and marketing meet.

Collaborate, fight, celebrate, blame each other, so on and so forth.

I will start with a story we already talked about in our course number one,

about our dear poet, writer, and friend, Ralph Waldo Emerson.

I would like to revisit his well-known phrase, or

at least a phrase that's attributed to him.

Before you ask, no, I'm not obsessed with Emerson,

I only find that his famous phrase is remarkably instructive, and here it is.

Build a better mouse trap and the world will beat a path to your door.

In other words, the product will sell itself,

people will go to your house and beg to buy it.

He was talking about progress, innovation.

But there are important implications from his statement that

make me consider Ralph Waldo Emerson the worst marketing in history.

So, about his phrase.

The first implication is for you to build a better mouse trap,

you don't have to ask your potential customers what, for

them, a better mouse trap is.

As a matter of fact, you don't even need to know if your potential

customers are happy with the mouse trap they already have.

So, the first implication is that customers do not matter and

they have no input whatsoever in the product.

The product is the first P in the four Ps that the famous author,

Philip Kotler, describes.

So, mouse trap lesson number 1,

product and customer are fundamental.

Let's suppose now that, okay,

the new mouse trap is actually better than the old ones.

Customers will be pleased and will definitely buy it, right?

Not so fast, it depends on the second P of the four, price.

The product, the mouse trap, is great, but guess what?

It costs ten times more than the old one.

I'm not sure how many customers will buy it, right?

Mouse trap lesson number 2, no matter how good a product is,

price will also determine its success.

Okay, okay.

Let's suppose now that besides the mouse trap being better than the old one,

it's reasonably priced, just 10% more expensive.

So product and price are right.

Now we have a successful product, right?

Not so fast, customers have to know

the product exists besides how much it costs.

So lesson number 3, if the third P, promotion and

advertising are not activated, no one will buy it.

I have some good news,

we just heard the mouse trap inventor told his friends and neighbors about it.

And he even made some fliers and

distributed them at church on Sunday, so we're good.

Nope, we just heard that our inventor sells the mouse trap from his house.

There's one point of sales,

which is the fourth P from Kotler, point of sales or place.

Just one small detail, Emerson lives on the top of a rocky hill,

there are no roads, and at some point, you need ropes to just climb there.

So, although it's a good product, it has the right price.

And if target customers will reach by promotion,

the place, the point of sales is wrong.

Lesson number 4, distribution, point of sales, place,

is also a pillar for the success of a business and of a product.

Our inventor friend may sell one or

two units of his new mouse trap, probably for rock climbers.

But the bad news is, the world didn't beat a path to the inventor's door.

The lesson is clear, you need to get all the four Ps, product,

price, promotion and point of sales, just right to be successful.

Why are we telling this long story?

First, I love storytelling.

Secondly, because I think the concept will stick to your mind forever, hopefully.

And thirdly, in order to deconstruct the mouse trap myth and

highlight the crucial role of marketing in any business venture.

Sorry, my friends, this is the end of our lesson for today.

But before that, some good news.

I just heard our inventor friend got the village store to sell his mouse trap.

And now he hired salespeople that are taking his mouse trap to other towns and

villages.

So the fourth point of sales is now right.

It seems our friend the inventor is being quite successful.

And he's now busy working on mouse trap version

2.0, I hope he learned his lesson.

I hope to see you next time.

[SOUND]

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