MARKETING FOR ENTREPRENEURS LECTURE 8 RECAP WHAT ? Course - - PowerPoint PPT Presentation

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MARKETING FOR ENTREPRENEURS LECTURE 8 RECAP WHAT ? Course - - PowerPoint PPT Presentation

Nov 28, 2023 261 likes •917 views

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

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MARKETING FOR ENTREPRENEURS

LECTURE 8

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RECAP

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WHAT ? Course Structure

DEFINE CUSTOMER VALUE

  • STARTUP. SCALEUP. SUCCEED !

DELIVER CUSTOMER VALUE DISCOVER CUSTOMER NEED

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WHAT ? The Startup Life Cycle

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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) 02-01-2017 -M 1

  • a. Introductions, Course Overview;
  • b. Evolution of marketing

Team Formation

Why Startups Fail ? (FORTUNE) Can Entrepreneurship be Taught? .Eric Ries (AUTHOR)

05-01-2017 -T 2

  • a. Problem identification for Starting Up;
  • b. Quick & Rough Market Research

Problem Definition

Best Ways to think of a Startup (FORBES) Disrutpive Innovation Explained. Clayton Christiansen (HARVARD)

09-01-2017 -M 3

  • a. Customer Segmentation & Targeting;
  • b. Focus: The Entrepreneur’s Advantage

Customer Discovery

The Innovators Dilemma. Clayton Christiansen (HARVARD) NEXT Market Segmentation. Steve Jobs (APPLE)

12-01-2017 -T 4

  • a. Customer Value Proposition
  • b. Agile Product Development - Guest Lecture

Minimum Viable Product Lean Startup and Design Thinking: Getting the Best Out of Both (STANFORD)

Mapping Customer Pains to Vlaue

  • Proposition. Alex Osterwalder

(AUTHOR)

16-01-2017 -M 5 Team Presentations 1 Creating a Customer Value Proposition

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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) 19-01-2016 - T 6

  • a. Lean Marketing Strategy
  • b. Case Study

Marketing Strategy Market Entry & Where to Startup (INSEAD) Brand Positioning & Values. Steve Jobs. (APPLE) 23-01-2017 -M 7

  • a. New Brand Launch & Market Position
  • b. Frugal Communication

Branding, Communicating Missed Call Marketing in India (WHARTON) Holy Grail of Marketing. Guy Kawasaki (AUTHOR) 26-01-2017 -T 30-01-2017 -M 8

  • a. Customer Acquisition & Lifecycle Management
  • b. Route to Market for New Ventures

Customer Relationship; Channel Management SPIN Selling. Neil Rackham (AUTHOR)

Customer Needs. Clayton Christiansen (HARVARD)

02-02-2017 -T 9

  • a. Pilot Planning & Success Criteria
  • b. Market Testing

Test Marketing

Testing your Product the Lean Startup Way. Eric Ries (AUTHOR)

Apple iPod Launch. Steve Jobs. (APPLE) 06-02-2017 -M 10 Pricing Principles for New Product Pricing Strategy

Startup Cardinal Sins -- Under-Pricing Your Product

  • Offering. Bryan Stolle,

Serial Entrepreneur (FORBES)

Revenue Models. Steve Blank (STANFORD) 09-02-2017 -T 11 Marketing investment & ROI Marketing Scorecard

Facebook Ads vs Google Adword (WORDSTREAM)

Lean Startup Metrics. Eric Ries (AUTHOR) 13-02-2017 - M 12

  • a. Creating a First Mover Advantage
  • b. Route to Market for New Ventures

Competition Strategy Snapdeal - Connecting the Dots between Supply & Demand (WHARTON) Business Model Canvas. Steve Blank (STANFORD) 16-02-2017 -T 13

  • a. Scaling Up Profitably
  • b. Pivoting : From Failure to Success

Market Expansion

Scaling Up with Excellence. Sutton & Singh (STANFORD)

Keys to Success. Jack Ma (ALIBABA) 18-02-2017 - Saturday 14

Final Presentations

Republic Day - Holiday Delivering the Customer Value Proposition

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HOW ? High Engagement CLASS PARTICIPATION : 20% TEAM PRESENTATIONS : 20% FINAL PRESENTATIONS : 60% WHEN ? 2ND Jan – 18th Feb

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1,2

  • Self Discovery
  • Team Building

3,4

  • Customer Problem Identification
  • Customer Persona Definition

5.6

  • Customer Value Proposition
  • Design Thinking & Rapid Prototyping

7,8

  • Customer Branding & Positioning
  • Customer Validation

CLASS ASSIGNMENTS

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PERSONAL BRAND “____________________________”

(ENT 210, 2nd Jan 2017, IITB COE, Worksheet 1 – Personal Branding)

Dreams & Passions Values & Beliefs Attitude & Skills Unique Value Proposition Behave & Interact

Communicate & Commit

Emote & Relate What do I Want to ‘Give’ To Whom ? What do I Want to ‘Get’ From Whom ?

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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’ ?

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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

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CUSTOMER SEGMENTS

TOTAL MARKET SERVED TARGET

BEACH HEAD

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TEAM “______________________” CUSTOMER PERSONA

(ENT 210, 2nd Jan 2017, IITB COE, Worksheet 4 – Customer Discovery)

BEHAVIOR GOALS PROFILE PROBLEM CHOICE COST CHANNEL

PICTURE AUDIO VIDEO

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TEAM “______________________” CUSTOMER VALUE PROPOSITION

(ENT 210, 2nd Jan 2017, IITB COE, Worksheet 5 – Customer Value)

EMOTION BENEFITS FEATURES VALUE PROP WANT NEED GOAL

  • VS. CURRENT ?
  • VS. BENEFITS ?

COSTS COMPARISON

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design sign thinking

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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

  • VS. CURRENT ?
  • VS. BENEFITS ?

COSTS COMPARISON

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RETUR ETURNS NS EF EFFOR ORT

LIS LIST T SE SELLI LLING

SETTING THE ‘STANDARDS’ CONSULA ONSULATIV TIVE E SE SELLING ING

BEN ENEFI EFIT T SE SELLI LLING FEA FEATU TURE E SE SELLI LLING

OWNINGTHE ‘NEED’

THE CUSTOMER CONTINUUM

SOL SOLUTI UTION ON SEL SELLING NG

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TEAM “______________________” BRANDING

(ENT 210, 2nd Jan 2017, IITB COE, Worksheet 7 – Branding

PROOF PROMISE PURPOSE VALUE PROP FEATURES BENEFITS JOB LOGO TAGLINE

BRAND

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CUSTOMER VALIDATION

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WHAT ? The Startup Life Cycle

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Ack: Steve Blank

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BUILD

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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

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  • 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
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buffer.com

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“….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.

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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

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MEASURING

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LEARN

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PIVOT OR PERSEVERE

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CLASS ASSIGNMENT

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Design a Customer Validation Process

  • Data Sheet
  • Brochures
  • Story Board
  • Landing Page
  • Product Box
  • Video
  • Learning Prototype
  • Wizard of Oz
  • etc etc
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TEAM ASSIGNMENT

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TEAM “______________________” CUSTOMER VALIDATION

(ENT 210, 2nd Jan 2017, IITB COE, Worksheet 7 – Customer Validation

HOW TO TEST? WHAT TO TEST ? WHO TO TEST WITH ? VALUE PROP MVP FEATURES BENEFITS WHAT WORKS ? WHAT NEEDS TO BE CHANGED ?

LEARNINGS

<- BUILD -> <- TEST -> <- LEARN ->

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WRAPUP

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WHAT ? The Startup Life Cycle

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1,2

  • Self Discovery
  • Team Building

3,4

  • Customer Problem Identification
  • Customer Persona Definition

5.6

  • Customer Value Proposition
  • Design Thinking & Rapid Prototyping

7,8

  • Customer Branding & Positioning
  • Customer Validation

CLASS ASSIGNMENTS

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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) 19-01-2016 - T 6

  • a. Lean Marketing Strategy
  • b. Case Study

Marketing Strategy Market Entry & Where to Startup (INSEAD) Brand Positioning & Values. Steve Jobs. (APPLE) 23-01-2017 -M 7

  • a. New Brand Launch & Market Position
  • b. Frugal Communication

Branding, Communicating Missed Call Marketing in India (WHARTON) Holy Grail of Marketing. Guy Kawasaki (AUTHOR) 26-01-2017 -T 30-01-2017 -M 8

  • a. Customer Acquisition & Lifecycle Management
  • b. Route to Market for New Ventures

Customer Relationship; Channel Management SPIN Selling. Neil Rackham (AUTHOR)

Customer Needs. Clayton Christiansen (HARVARD)

02-02-2017 -T 9

  • a. Pilot Planning & Success Criteria
  • b. Market Testing

Test Marketing

Testing your Product the Lean Startup Way. Eric Ries (AUTHOR)

Apple iPod Launch. Steve Jobs. (APPLE) 06-02-2017 -M 10 Pricing Principles for New Product Pricing Strategy

Startup Cardinal Sins -- Under-Pricing Your Product

  • Offering. Bryan Stolle,

Serial Entrepreneur (FORBES)

Revenue Models. Steve Blank (STANFORD) 09-02-2017 -T 11 Marketing investment & ROI Marketing Scorecard

Facebook Ads vs Google Adword (WORDSTREAM)

Lean Startup Metrics. Eric Ries (AUTHOR) 13-02-2017 - M 12

  • a. Creating a First Mover Advantage
  • b. Route to Market for New Ventures

Competition Strategy Snapdeal - Connecting the Dots between Supply & Demand (WHARTON) Business Model Canvas. Steve Blank (STANFORD) 16-02-2017 -T 13

  • a. Scaling Up Profitably
  • b. Pivoting : From Failure to Success

Market Expansion

Scaling Up with Excellence. Sutton & Singh (STANFORD)

Keys to Success. Jack Ma (ALIBABA) 18-02-2017 - Saturday 14

Final Presentations

Republic Day - Holiday Delivering the Customer Value Proposition