The 4 M’s of Marketing: How to Set the Right Marketing Strategy

Who hasn’t heard about the marketing mix?

As you know, the 4 P’s aim to help define:

  1. what a company offers — product and price;
  2. and how it does this — place and promotion.

Unfortunately, this founding framework of marketing (created in 1960) no longer encompasses what marketing means today…

In this article, I suggest a better alternative that will help you define your marketing strategy.

But first, let’s give a good definition of what marketing means in 2018.

A Good Definition Gives Guidance

Defining what marketing stands for isn’t an abstract issue.

3 Jobs-to-be-Done Examples to Help You Innovate with Confidence

The jobs-to-be-done framework helps understand the reasons why someone buys a particular product.

I use this tool in two ways:
1. To understand what people want in a specific market;
2. To create a compelling customer experience.

It helps me uncover the needs and desires of a market. And it makes it easier to think about the benefits and customer experience that should shape a new value proposition.

What does “Jobs to Be Done” mean?

The jobs-to-be-done framework uses “jobs” as a metaphor to explain what people are trying to achieve when they buy something.

Share of Customer: Why It Matters More Than Market Share

Improving share of customer is too often just a byproduct of a marketing strategy that aims to increase market share.

Most marketers think that bigger means better.

And they focus on selling to more and more customers rather than finding ways to sell more to their existing, satisfied customers. Unfortunately, giving priority to acquiring customers over retaining them comes out of thinking short-term.

The old marketing recipe isn’t working anymore: Boost awareness with advertising, make big discounts to trigger a purchase, repeat…

Things have changed.

How to Give Constructive Feedback That Really Helps People

Give constructive feedbackSharing constructive feedback gives you this ability to guide your team members and help them learn and grow.

Unfortunately, we never learn how to give feedback. We assume that it is intuitive; and that you should naturally master this skill.

But in practice, giving feedback feels uncomfortable.

We even often avoid doing it…

[In these reflections, I focus on “individual feedback” given to a team member (e.g. superior, peer, or subordinate). This excludes traditional employee review, team performance check-in, and managing yourself with feedback analysis.]

Feedback is an undervalued tool.

Convince Your Boss: 11 Tips to Make Them Say “Yes!” (Updated 2018)

Convince your bossImplementing new ideas in an organisation is a challenge.

You agree:

From internal politics to bureaucracy to lack of time, we face many obstacles…

Yet, your company needs a leader like you. That’s because you care enough to make sure the business grows and keeps to innovating.

Here are 11 effective tips to persuade your boss.

People who’ve used these tips got their boss to implement new ideas and encourage innovation. This is a guide to help you make innovation happen.

Warning: you are NOT going to find anything about being a bootlicker (dull) or working hard (boring) here.

A Simple Checklist to Manage Your Creative Projects

Running a great creative project requires discipline.

You need a clear focus on the results (1).

You also have to anticipate what’s ahead of you–to know what you need to make happen and what could go wrong (2).

“Under conditions of complexity, not only are checklists a help, they are required for success.”

— Atul Gawande, The Checklist Manifesto

The following checklists are here to help you run your creative projects by (1) focusing on the results and (2) anticipating what’s going to happen.

1. Focus on the results of your creative projects

What’s the purpose of this project?

A Framework to Design Great User Experience (with Examples)

Technology shapes and reinforces how we behave.

  • We walk and run with earphones without paying attention to what’s happening around us;
  • We often check social media on our smartphones, even when we’re with friends;
  • We travel across the globe to stay in the bedroom of someone we’ve never met before;
  • We take tons of pictures of ourselves and send them to our friends and even strangers.

Doing these things may have looked crazy to our ancestors, yet even they shared similar behaviours… Humans have always liked listening to music, connecting with one-another, traveling to new places, and showing off.

The Best Books for Entrepreneurs and Executives in 2018 (Updated)

Gathering the best books for entrepreneurs and other great resources wasn’t an easy job.

You will agree with me that there are so many books about entrepreneurship out there…

So I narrowed down the list only to the best resources. This is going to save you so much time. ?

If you like these recommendations, share it with your friends, classmates, and colleagues.

Successful entrepreneurs, including Steve Jobs, read a lot of business books
Successful entrepreneurs, including Steve Jobs, read a lot of business books

 

The following lists focus on the crème de la crème of resources and books for entrepreneurs and executives.

3 Effective Ways to Get to Product-Market Fit

Your product is ready. But sales aren’t taking off as you expected.

This is a sign you might have missed the discovery phase and jumped too quickly to the scaling phase.

In such a scenario, the business tried everything:

They built a sales team. They spent their marketing budget in advertising. They hired consultants. They spoke at conferences. They reached out to all their contacts. But still the market doesn’t buy it…

Here’s the common mistake:

Trying to scale too fast… If you’re wrong about what people want, they may try your product once, but don’t count on keeping them as loyal customers.

Use Worldviews & Storytelling to Build a Strong Brand Positioning

There’s something that the most successful brands do well:

They leverage existing beliefs to tell stories.

That’s because a person’s way of viewing the world is a major indicator of the decisions they make and the types of stories that resonate with them.

(Some call these beliefs “mindset”. In Positioning, Al Ries used the term “customers’ minds”. In All Marketers Are Liars, Seth Godin used the term “worldview” that I like the most, as the word is self-explanatory.)

As a marketer or innovator, using worldviews to look at your market helps you understand what stories resonate with your target customers, what products and services they consider buying, and why.