Marketing for Lawyers Basic Principle of Marketing, Goals of Marketing Lesson 1 Eva Tomášková eva.tomaskova@law.muni.cz Course timetable lregular lessons: l every Monday (10.00 – 11.40) l l l l lConsulting hours: Monday (12.00 – 13.00), room 309 l l Short presentation of yourself lWhere are you from? lWhat you like? lWhy did you choose this course? lYour experience with marketing. lTopics of marketing which are you interested in. Course syllabus 1.Basic principle of marketing, goals of marketing 2.Ways of client segmentation, specification of clients, determination of perspective clients 3.Expectation of clients 4.Measuring of clients satisfaction, strengthen client loyalty 5.Customer services offered by lawyers 6.Building promotion and building image 7.Determination position in the market 8.Marketing strategies to attract new clients, ways how to get competitive advantage 9.Communication with clients 10.Building of effective marketing plan and its implementation, Determination of marketing costs 11.Presentation and discussion of semester papers 12.Presentation and discussion of semester papers l Credit Requirements 1.Presentation of news of the topic at the lessons for 3 minutes l1 point for one news for one lesson (no. 2-10) 2.Solution of individual and team tasks l1 point for one lesson (no. 2-10) 3.To write semester paper lmaximum 14 points 4.To present semester paper lmaximum 8 points l lGrade from this course: lA : 30 – 27 points lB : 26 – 23 points lC : 22 – 19 points lD : 18 – 15 points lE : 14 – 11 points Semester Paper 1 lTopic: lMeasuring of clients satisfaction, ways how to increase this satisfaction lCustomer services offered by lawyers lAdvertising and lawyers (attorney-at-law offices) lCommunication with clients l? your theme l lNote: lAll the semester paper have to include part of theory and part of application lApplication can be practical (recommendation) or copmarison (e.g. between the situation in different countries) lIn order to support the prevention of plagiarism, submission for this course will be stored in the standard repository. Every semester paper will be check for its originality. l lDeadline: lApril, 25 – deadline for sending email with topic of semester paper lMay, 5 – deadline for finishing of semester paper inserting it in Information System of MU l l Semester Paper 2 lSubmission Formats: lEmail all submissions to: eva.tomaskova@law.muni.cz lEmail etiquette: do not attach your submissions to a blank email l lLate/Non-Submissions lMaximum points for late semester paper will be 10. l lFormat: lLength: minimum 1 500 words l lPresentation of semester paper: lPowerPoint Presentation l12 - 15 Minutes lDiscussion after presentation lDays: 9. 5. and 16. 5. Literature lKotler, P. Marketing, Management. Principles of Marketing l lPrinciples of Marketing http://www.saylor.org/site/textbooks/Principles%20of%20Marketing.pdf l lother books about marketing l lCzech Bar Association, Available at: http://www.cak.cz/en l lRepresenting Europe’s Lawyers l Marketing lMarketing can be categorized as a branch of business as well as a social science. l lThe marketing concept is based on the idea that firms should analyze needs and wants of consumers and use the outcomes to make decisions. l lMarketing involves a range of processes concerned with finding out what consumers want, and then providing it for them. Subjects of marketing lproduct lservice – hairdresser, beautician, tax adviser lfirm (company) loccasion – sport actions ladventure - bungee jumping, balloons flying lperson – stars, politicians lplace – regions, cities lproperty – banks, real estate agencies linformation – schools, universities, journals l Development of Marketing lIt was first put forward by economist Adam Smith in The Wealth of Nations in 1776. The concept was only adopted on a wide scale from around the 1950s. l lThe production concept dominated from the start of the industrial revolution until the 1920s. This is where firms produced the outputs they could make most efficiently, and this would create product demand. l lThe sales concept became dominant by the 1930s when strong competition and little unmet demand meant firms had to crank up their sales efforts through personal selling and advertising. l lAfter World War II firms analyzed what consumers needed or wanted. The marketing concept took over. Firms analyzed the market, segmented it, conducted market research, developed products, and came up with strategies to sell them. The principles of marketing stem from the marketing concept. Production concept l Výsledek At Učednická léta - Příběh Henryho Forda viz. CIMA materiál úvod – str. 2 - 4 Sales concept l l bata tbata l 00000228 00000241 00000232 Shopping lDo you like shopping? lHow often do you go shopping? lWhat is the main reason to buy something? Shopping lThe act of shopping is more often emotional than logical. l lMarketing experts teach that after showing the prospects the features of a product and the benefits of each feature, is necessary to give customers an emotional push. l lThe buying decision starts with the head and ends with the heart. l lImpulse for buying does not happen sometimes, it happens more often than customers think. l lIt is necessary to make the product unique and different. But, in the end suppliers must make the buyer feel good about it. l lPride of owning a Mercedes, or a Jaguar feeds the human ego. A person who owns a prestigious object feels that he is a cut above the rest. Marketing Principles lMarketing principles include: lan environmental or situation analysis of the firm's internal and external environments, lsegmentation of the market, lconsumer and market research, lproduct development, lpricing, ldistribution, lpromotional strategy, lmarketing planning, land measuring the progress of marketing strategies and actions. Internal and External Environment lA firm needs to understand its internal and external environments. lInternal environment lThe company must know its capabilities, products, image, strengths and weaknesses, and culture. l lExternal environment (environmental or situation analysis of): lits collaborators lIt should look at its suppliers, consultants and distributors, and their respective capabilities, strengths, and weaknesses. l lits customers lIt analyzes its existing and potential customers, the market such as its size and growth, what consumers want, what motivates them to buy, where and how they buy, and trends in consumer behavior. l External environment l its competitors lThe firm examines each main competitor in terms of size, products, strategies, market share, and strengths and weaknesses. l l and the business climate. lIt also analyzes climate including aspects of the political and regulatory environment that will impact on the firm and the market; the economic situation such as growth rates, cycles, inflation, and employment levels; technology; and the international environment. l Main Goal of Marketing lMain goal of marketing is: lcoordination all activities with a focus on building value for the customer and the organization lachieving greater customer satisfaction lachieving greater customer loyalty l= increasing of business performance (profit) l lCreating real value for customers requires that all marketing and sales initiatives converge at the customer with a true understanding his/her needs. Task lChose a product l(you like to go shopping or you often go shopping, e. g. notebook, perfume, coffee etc.) l lWrite all required features of an product Basic Principle of Marketing lBasic Principle of Marketing = The Marketing Mix or the "4 P's " are: lProduct lPrice lPromotion lPlace (or distribution) l l"5 P's" + People l"7 P's" + Processes, Physical evidence l"9 P's„ + Packaging, Payment l Product lProduct issues can include: la brand name, ltrademarks, lfunctionality of the product, ldifferentiation, lquality, lsafety, lpackaging, lrepairs and lcustomer services. Price lis determined by: lcosts, lmarket share, lconsumer demand, lsubstitutes, lprice elasticity of demand, ltype of market (e.g. monopoly, or perfect competition), land the objectives of the firm. l lThe object might be to: lincrease profits (higher price) or lgain market share (lower price). l Place lPlace or distribution includes: ldistribution channels, lbranch network, linventory management, lwarehousing, ltransport, land use of wholesalers and retailers. Promotion lPromotion is about: l advertising, e.g.: ltelevision, loutdoor, lnewspaper, lmagazine, lradio, linternet, land direct lword of mouth, lpoint of sale, lpublic relations, and lpublicity. the E’s lProduct - has changed to - Experience lWhat does a customer encounter related to purchasing and using your product/service? l lPlace - has changed to - Everyplace lThere’s just SO MANY methods for conveying your message: SMS, countless social media websites, video games, product placement in places like TV, Movies, internet video clips. l lPrice - has changed to - Exchange lWith so much on the web being offered for free, pricing has become much different. l lPromotion - has changed to - Evangelism lWith so many more message channels, we can’t just bombard people with messages and hope they’ll pick them up. Conclusion lWhat marketing is? lWhich marketing principles are? lWhat customers want? l