Vorlesung Finanzierung und Marketing, 08.06.2011

Finanzierung und Marketing FinanzierungsformenKonventionelles Marketing vs. Entrepreneurial Marketing Arbeit am Entrepreneurial Design Prof. Dr. Günter Faltin www.entrepreneurship.de Source: Faltin 2011

Die beste Finanzierung besteht darin, Kosten zu vermeiden! www.entrepreneurship.de Source: Faltin 2011

Wir hatten kein Geld.Daher mussten wir kreativ an die Sache herangehen. Richard Branson Business ist wie Rock´n´Roll www.entrepreneurship.de Source: Faltin 2011

Sources of Financing Equity financing • your own funds • „family, friends and fools“• equity financing programmes by banks and government agencies • venture capital • business angels • capital market www.entrepreneurship.de Source: Faltin 2011

Sources of Financing Debt financing • „family, friends and fools“• special programmes by banks and government agencies • bank loans • trade credits • payment in advance by customers • bonds www.entrepreneurship.de Source: Faltin 2011

“Intelligent Prototyping“ The principle: Try out first, only thereafter invest full scale. Examples: 1. Use Adwords at Google to try out market acceptance2. Create a website, offer a platform for critisising conventional products 3. Invite suggestions for improvements 4. Check out techniques of rapid prototyping 5. Create a testing environment www.entrepreneurship.de Source: Faltin 2011

Dinosaur Marketing1. Put most of your money in advertising ( falling victim to the “ law of diminishing attention”)It’s a potential strategy only for big companies 2. Hammer your brand name into people’s brains www.entrepreneurship.de Source: Faltin 2011

Dinosaur Marketing 3. Set up a shop or even as much shops as possible Shops are a very expensive Concept. Shops easily carry a smell of commercialisation 4. Think of your customer as a stupid animal that you can outsmart easily.(This is a tempting strategy because it oftenseems to succeed)In fact, customers are not stupid.They are increasingly well educatedand well informed. www.entrepreneurship.de Source: Faltin 2011

Source: david and goliath agency www.dngla.com © Faltin 2003www.entrepreneurship.de Source: Faltin 2011

Innovative Entrepreneurial Marketing 1. Create goodwill for your company Go for a cause: Improve or protect something, provide a product for a better price. (This has to be a substantial part of your business model). Avoid, if possible, the context of commercialisation.2. Find your own ways of attracting attention to your products. Use the specific circumstances of your approach ( your personal background, innovative aspects of your product ) Play as unconventional, as unorthodox as possible In modern society the media are the key for attracting attention; paid advertisements are a poor and expensive substitute. www.entrepreneurship.de Source: Faltin 2011

Innovative Entrepreneurial Marketing 3. Understand people´s desire for connectivity Modern societies cause lonelinessModern tour-operating and modern hotel accommodation add to the problem instead of providing connectivity4. Think of your customer as your partner and your ambassadorMake use of consumers education and the public efforts of consumers protection Share your problems with your partners. Make them (unpaid) co-workers in your company. Build lasting relationships with your clients. (This is the most promising strategy to make you rich. Because maximising profits works best in the medium and long run) www.entrepreneurship.de Source: Faltin 2011

If you are really interested and want to do something revolutionary, you must learn to ignore your customers. Many customers are like rearview mirrors.They are extremely conservative and boring, lacking imagination and they have no idea of their own desires. Ridderstråle & Nordström in: Funky Business - Wie kluge Köpfe das Kapital zum Tanzen bringen - München 2000 www.entrepreneurship.de Source: Faltin 2011

One way to ruin your company is to listen to your customers too much.In business and in politics, you have to lead, and not just listen to opinion polls. Michael Bloomberg Founder of Bloomberg News www.entrepreneurship.de Source: Faltin 2011

Ideas for Entrepreneurial Marketing Aikido Marketing (make use of the energy of your rivals) Guerilla Marketing (use ambush tactics) Caligula Marketing (spread an amazing story) The Principle: Turn the conventional rules upside down; play as unorthodox as possible www.entrepreneurship.de Source: Faltin 2011

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Vorlesung Finanzierung und Marketing, 08.06.2011

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