MARKETING FOR ENTREPRENEURS LECTURE 8
RECAP
WHAT ? Course Structure DISCOVER CUSTOMER NEED DEFINE CUSTOMER VALUE DELIVER CUSTOMER VALUE STARTUP. SCALEUP. SUCCEED !
WHAT ? The Startup Life Cycle
ENT : Marketing for Entrepreneurs AY 2016-2017 - Spring Semester2017 Half Semester Course - 2 January, 2017 to 18 February, 2017 Themes Dates Topics Assignments Reading (AUTHORITY) Video (AUTHORITY) a. Introductions, Course Overview; Why Startups Fail ? Can Entrepreneurship be Taught? 02-01-2017 -M 1 b. Evolution of marketing (FORTUNE) .Eric Ries (AUTHOR) Team Formation a. Problem identification for Starting Up; Best Ways to think of a Disrutpive Innovation Explained. 05-01-2017 -T 2 b. Quick & Rough Market Research Startup (FORBES) Problem Definition Clayton Christiansen (HARVARD) The Innovators Dilemma. a. Customer Segmentation & Targeting; Creating a 09-01-2017 -M 3 Clayton Christiansen NEXT Market Segmentation. Steve b. Focus: The Entrepreneur’s Advantage Customer Discovery Customer Value (HARVARD) Jobs (APPLE) a. Customer Value Proposition Proposition Lean Startup and Design Mapping Customer Pains to Vlaue b. Agile Product Development - Guest Lecture Thinking: Getting the 12-01-2017 -T 4 Proposition. Alex Osterwalder Best Out of Both (AUTHOR) Minimum Viable Product (STANFORD) Team Presentations 1 16-01-2017 -M 5
ENT : Marketing for Entrepreneurs AY 2016-2017 - Spring Semester2017 Half Semester Course - 2 January, 2017 to 18 February, 2017 Themes Dates Topics Assignments Reading (AUTHORITY) Video (AUTHORITY) a. Lean Marketing Strategy b. Case Study Market Entry & Where to Brand Positioning & Values. 19-01-2016 - T 6 Marketing Strategy Startup (INSEAD) Steve Jobs. (APPLE) a. New Brand Launch & Market Position Missed Call Marketing in Holy Grail of Marketing. Guy 23-01-2017 -M 7 b. Frugal Communication Branding, Communicating India (WHARTON) Kawasaki (AUTHOR) 26-01-2017 -T 0 Republic Day - Holiday a. Customer Acquisition & Lifecycle Management Customer Relationship; SPIN Selling. Neil Customer Needs. Clayton b. Route to Market for New Ventures 30-01-2017 -M 8 Channel Management Rackham (AUTHOR) Christiansen (HARVARD) a. Pilot Planning & Success Criteria Testing your Product the b. Market Testing Lean Startup Way. Eric Apple iPod Launch. Steve Jobs. Ries (AUTHOR) 02-02-2017 -T 9 Test Marketing (APPLE) Delivering the Startup Cardinal Sins -- Pricing Principles for New Product Customer Value Under-Pricing Your Product Offering. Bryan Stolle, Proposition Revenue Models. Steve Blank Serial Entrepreneur 06-02-2017 -M 10 Pricing Strategy (STANFORD) (FORBES) Lean Startup Metrics. Eric Ries Facebook Ads vs Google 09-02-2017 -T 11 Marketing investment & ROI Marketing Scorecard (AUTHOR) Adword (WORDSTREAM) a. Creating a First Mover Advantage Snapdeal - Connecting b. Route to Market for New Ventures the Dots between Supply Business Model Canvas. Steve 13-02-2017 - M 12 Competition Strategy & Demand (WHARTON) Blank (STANFORD) a. Scaling Up Profitably Scaling Up with Excellence. b. Pivoting : From Failure to Success 16-02-2017 -T Sutton & Singh Keys to Success. Jack Ma (STANFORD) 13 Market Expansion (ALIBABA) 18-02-2017 - 14 Final Presentations Saturday
HOW ? High Engagement CLASS PARTICIPATION : 20% TEAM PRESENTATIONS : 20% FINAL PRESENTATIONS : 60% WHEN ? 2 ND Jan – 18 th Feb
CLASS ASSIGNMENTS • Self Discovery • Team Building 1,2 • Customer Problem Identification • Customer Persona Definition 3,4 • Customer Value Proposition • Design Thinking & Rapid Prototyping 5.6 • Customer Branding & Positioning • Customer Validation 7,8
PERSONAL BRAND “____________________________” ( ENT 210, 2nd Jan 2017, IITB COE, Worksheet 1 – Personal Branding) Dreams Values & Attitude & Unique Behave & Communicate Emote & & Commit & Passions Beliefs Skills Value Interact Relate Proposition What do I Want to ‘Give’ To Whom ? What do I Want to ‘Get’ From Whom ?
TEAM “______________________” (ENT 210, 2nd Jan 2017, IITB COE, Worksheet 2 – Team Formation) Name Background Skills TEAM IDEA Role Task Time What Will The Team ‘Give’ ? What Will the Team ‘Get’ ?
TEAM “______________________” (ENT 210, 2nd Jan 2017, IITB COE, Worksheet 3 – Problem Identification) PROPOSED CURRENT TARGET PROBLEM CUST BENEFIT TEAM EFFORT SIZE OF PRIZE Identified Team Problem
TOTAL MARKET SERVED TARGET BEACH HEAD CUSTOMER SEGMENTS
TEAM “______________________” CUSTOMER PERSONA (ENT 210, 2nd Jan 2017, IITB COE, Worksheet 4 – Customer Discovery) BEHAVIOR GOALS PROFILE PROBLEM CHOICE COST CHANNEL PICTURE AUDIO VIDEO
TEAM “______________________” CUSTOMER VALUE PROPOSITION (ENT 210, 2nd Jan 2017, IITB COE, Worksheet 5 – Customer Value) EMOTION BENEFITS FEATURES VALUE PROP WANT NEED GOAL COSTS COMPARISON VS. CURRENT ? VS. BENEFITS ?
design sign thinking
TEAM “______________________” RAPID PROTOTYPE (ENT 210, 2nd Jan 2017, IITB COE, Worksheet 6 – Rapid Prototyping) WORK LIKE FEEL LIKE LOOK LIKE VALUE PROP FEATURE BENEFIT JOB COSTS COMPARISON VS. CURRENT ? VS. BENEFITS ?
THE CUSTOMER CONTINUUM RETUR ETURNS NS OWNINGTHE ‘NEED’ SETTING THE ‘STANDARDS’ CONSULA ONSULATIV TIVE E SE SELLING ING SOLUTI SOL UTION ON SEL SELLING NG BEN ENEFI EFIT T SE SELLI LLING FEA FEATU TURE E SE SELLI LLING LIST LIS T SE SELLI LLING EFFOR EF ORT
TEAM “______________________” BRANDING (ENT 210, 2nd Jan 2017, IITB COE, Worksheet 7 – Branding PROOF PROMISE PURPOSE VALUE PROP FEATURES BENEFITS JOB BRAND LOGO TAGLINE
CUSTOMER VALIDATION
WHAT ? The Startup Life Cycle
Ack: Steve Blank
BUILD
Don’t Delay ! Don’t Build to Build -Measure-Learn* • Data Sheet • Brochures • Story Board • Landing Page • Product Box • Video • Learning Prototype • Wizard of Oz Benson Garner, Strategyzer Blog
• Don’t Delay ! For the Perfect Domain* • Square was squareup.com • DropBox was getdropbox.com • Facebook was thefacebook.com • Instagram was instagr.am • Twitter was twttr.com • Foursquare was playfoursquare.com
buffer.com
“….The aim of this two -page MVP was to check whether people would even consider using the app. I simply tweeted the link and asked people what they thought of the idea…. ….in a long 7 week period I only got 120 signups. But I spoke with a lot of those people during that time, and 50 of them started using the product when I launched after that 7 week period…. 1 started paying for Buffer 3 days after we launched. Then a few weeks later, another person started paying… .. I wasn’t optimizing for the number of signups I could get with this landing page, I was instead trying to learn as much as I possibly could….” Joel Gascoigne, Co-founder and CEO of @buffer.
DROPBOX The 3 minute video that Drew Houston created for Dropbox, walking through using the product. He posted it to HackerNews and overnight they went from 5,000 to 75,000 people on their beta list. DROPBOX DEMO VIDEO
MEASURING
LEARN
PIVOT OR PERSEVERE
CLASS ASSIGNMENT
Design a Customer Validation Process • Data Sheet • Brochures • Story Board • Landing Page • Product Box • Video • Learning Prototype • Wizard of Oz • etc etc
TEAM ASSIGNMENT
TEAM “______________________” CUSTOMER VALIDATION (ENT 210, 2nd Jan 2017, IITB COE, Worksheet 7 – Customer Validation HOW TO WHAT TO WHO TO TEST VALUE PROP MVP FEATURES BENEFITS TEST? TEST ? WITH ? <- TEST -> <- BUILD -> LEARNINGS WHAT WORKS ? WHAT NEEDS TO BE CHANGED ? <- LEARN ->
WRAPUP
WHAT ? The Startup Life Cycle
CLASS ASSIGNMENTS • Self Discovery • Team Building 1,2 • Customer Problem Identification • Customer Persona Definition 3,4 • Customer Value Proposition • Design Thinking & Rapid Prototyping 5.6 • Customer Branding & Positioning • Customer Validation 7,8
Recommend
More recommend
