Business model marketing course 5Presentation Transcript
advanced coursebusiness model marketing
Now that you created a new business model...What does it mean for themarketing strategy?
so what is a marketing strategy?
Blue ocean strategy (a company strategy)
Red ocean Blue ocean Exis%ng markets New markets Current customer segments New customer segments Heavy compe%%on No compe%%on (for now) Very li>le to no space on the market Inﬁnite market space Exis%ng market rules Developing new market rules No real innova%ons Value innova%ons Killing compe%%on: the blood that ﬂows Inﬁnite open space: The blue depths of the ocean
Blue ocean strategy-creating completely new industries (blue oceans)-by fundamental differentation-creating value innovation (creating new benefits+services, reducing costs by remong less valuable features+services)-use of the ‘four actions framework’
Four actions framework1. Which of the factors that the industry takes for granted should be eliminated?2. Which factors should be reduced well below the industry standard?3. Which factors should be raised well above the industry standard?4. Which factors should be created that the industry never offered?
testing Business modelsIs the new business model ready to stand up against it’s environment?
theoretic models to use
Business model environment-market forces-industry forces-key trends-macro-economic forces
Market forces-market issues-market segments-needs and demands-switching costs-revenue attractiveness
Industry forces (porter)-competitors-new entrants-substitute products-suppliers and others-stakeholders
Key trends (destep)-technology trends-regulatory trends-societal and cultural trends-socioeconomic trends
Macro economic forces-global market conditions-capital markets-commodities and resources-economic infrastructure
Business model evaluation-Business Model Assessment-SWOT -analyse
presentation..-how are you going to tell aconvincing story?
presentation..-visualizing with drawings-visualize with post-it’s-telling a visual story (p. 158/159)-prototyping: sketch, BM-canvas,excel calculations, marketresearch? (p. 165)
storytelling..-introducing new ideas-overwinning resistance by tellinga clear story-good stories clarify the BM-canvas-good stories involve listeners-good stories are told to others