Final Exam Study Guide Flashcards
What is the difference between Marketing and Selling?
Marketing - the overall plan for selling (macro)
Selling - actually selling products or services (micro)
Name the 7 key areas of a marketing plan (for consultants):
Marketing Plan:
- sales strategy
- sales approach
- pricing
- promotion
- services policies
- guarantees
- tracking methods
3 considerations of Sales Strategy:
- commission sales staff, agents, sub-consultants
- sales objectives, sales tools, sales support
- target clients
1 consideration of sales approach?
- Style of operation and techniques
3 considerations to Pricing?
- costing, mark-ups, margins, break-even
2 considerations to Promotion?
- media advertising, promootions, puiblicity appropriate to reach target market
- techniques of developing exposure, credibility, and contacts
1 consideration for Service policies?
policies that your consulting practice will adopt with regard to credit and collection, bidding, nature of clients, etc.
1 consideration for guarantees:
- services performance gaurantees or other assured will vary depending upon nature of consulting practice and type of contract or client.
what is Tracking Methods in regards to a marketing plan?
methods for confirming who your clients are and how they heard about you
Checklist 3-2: Preparing for Effective Marketing
What are the 3 important steps in preparing for effective marketing?
- identify your target market in terms of industry, technology, client type, organizational focus and geography
- understand the information serving your target market - publications, government sources, internet, conferences, conventions, trade shows, surveys and networking
- research your market on an ongoing basis - reflect on and review your experiences in the marketplace
What is Registration in terms of consulting? What is a RFQ? RFP?
A consultant can register in the government databases for consulting contracts.
R.F.Q. - Request For Qualifications
R.F.P. - Request for Proposal
Checklist 3-3: Marketing Tools
List 8 different marketing tools available to consultants?
- Registration
- Advertising
- Articles
- Speeches
- Public Relations
- Brochures and Web Sites
- Networking
- Referrals from Clients and Colleagues
1 consideration for Service Policies?
- policies that oyur consulting practice will adopt with regard to credit and collection, bidding, nature of clients, etc.
1 consideration for Guarantees in a marketing plan?
services performance guarantees or other assurance will vary depending on nature of consulting practice and type of contract
1 consideration for tracking methods:
method for confirming who your clients are and how they heard about you
Checklist 3-2: Preparing for Effective Marketing
What are 3 things a consultant should do to prepare for effective marketing?
- identify your target market in terms of industry, technology, client type, organizatioal focus, and geography
- understand the information serving your target market (publications, government sources, internet, conferences, conventions, trade shows, survey and networking)
- research your market on an ongoing basis - reflect and review your experiences in the marketplace.
Checklist 3-3: Marketing Tools
List 8 marketing tools:
pg 83 in the text
- Registration
- Advertising
- Articles
- Speeches
- Public Relations
- Brochures and Web Sites
- Networking
- Referrals from Clients and Colleagues
Describe the E.P.I.C Process for Proposal Writing:
Exploration - look for R.F.P’s, do cold calls to companies and submit proposals, explore the marketplace
Preparation - Prepare a quality proposal
Implementation - proposal has been accepted, implement the proposal
Conclusion - give deliverables, give recommendations to client
What are S.M.A.R.T. Deliverables?
* this will be on the test.
Specific - tell the client what you will give them
Measurable - so the client can see if you delivered what you said you are going to
Achievable - no point telling the client to do something outside their capabilities
Relevant - analyze their problems, should be relevant to them
Timely - in time for the client to use the recommendations effectively
What is the M.U.S.H. Sector?
Municipalities, Utilities, Schools, Hospitals. Most of this sector is non-profit and gets funding via the government. The vast majority of work in this sector is through proposal writing.
