9 Marketing And Sales

Question 1

What is strategy always about

Answer 1

How to compete

Question 2

Blue ocean vs red ocean

Answer 2

Blue ocean: uncontested, growing market

Red ocean: saturated, overdeveloped (fierce competition)

Question 3

3 pillars of marketing and sales

Answer 3

1) brand
2) sales funnel
3) content (what u put into customer journey)

Question 4

What does sales funnel do & result in

Answer 4

Process form potential to buying customer, results in customer journey

Question 5

Branding toolkit (4)

Answer 5

1) Name & logo
2) golden circle
3) vision, mission, values
4) founding story (why you, why this)

Question 6

Golden circle: Reihenfolge

Answer 6

1. why
2. how
3. what

Question 7

How to sell your brand with golden circle

Answer 7

1) we believe that… (vision of better world/customer life)
2) work everyday to achieve… (by doing)
3) our products are a result of that, want one?

Question 8

Example golden circle apple

Answer 8

1. why: we believe that using a computer should be fun and accessible for everyone
2. how: therefore we work everyday to create beautifully designed and easy-to-use computers
3. what: our great computers are a result of just that, what one?

Question 9

Why do people buy products according to golden circle:

Answer 9

People buy why you do it (if ppl believe in what you believe in, you can sell them anything)

Question 10

Vision-mission-values: foundation for what

Answer 10

Foundation for strategy and culture

Question 11

Vision statement

Answer 11

Future position: long-term goal (e.g.: best car comp by driving transition to electric)

Question 12

Mission statement

Answer 12

Purpose/primary objectives (e.g. fight climate change)
-> present: what it does, whom serves, how serves them

Question 13

Values

Answer 13

Principles/behavioral standards

Question 14

Using golden circle for VMV

Answer 14

1. vision - WHY: how achieve better future
2. mission - HOW: inspire to buy to achieve better world/lief
3. values - WHAT/mission/vision: standards to guide business actions

Question 15

Sales funnel: what does it do

Answer 15

Converting potential lead into paying customer

Question 16

Steps of sales funnel

Answer 16

1. awareness
2. interest
3. decision
4. action
5. loyalty

Question 17

Customer journey: steps

Answer 17

1. awareness
2. consideration
3. trial
4. purchase
5. loyalty

Question 18

Customer journey: Awareness

Answer 18

Creating brand awareness (social media, videos)

Question 19

Customer journey: consideration

Answer 19

educate (website, blogs, newsletter, free downloads) -> already subscribed to newsletter/social media

Question 20

Customer journey: trial

Answer 20

Evaluation: Convince you are best (free trial, case studies, reviews)

Question 21

Customer journey: purchase

Answer 21

Purchase

Question 22

Customer journey: loyalty

Answer 22

Create loyal customer: customer service, social media communities, tutorials, loyalty bonuses
-> these customers will: word of mouth, repeat purchase

Question 23

Different categories customer journey

Answer 23

1. situation
2. touch points (interactions)
3. actions (lead to conversion)
4. emotions
5. company actions

Question 24

Two main categories customer journey

Answer 24

1. actions (how attract customer)
2. channel (communication)

Question 25

What does customer journey show

Answer 25

How customers engage with/ product or service

Question 26

What part of the Business model canvas do you use for customer journey

Answer 26

Channels and customer relations

Question 27

Sales funnel vs customer journey (similarity and difference)

Answer 27

Similarity: optimise converting prospects into customer and beyond Difference: focus, perspective, metric

Question 28

Explain three differences sales funnel customer journey

Answer 28

Sales funnel vs customer journey - focus: conversion process vs experience with brand - perspective: organization vs customer (provide value, meet needs, emotions) - metric: quantitative vs quantitative and qualitative