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Week 2: Marketing & Entrepreneurship
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Week 2: Marketing & Entrepreneurship

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Developing and evaluating business ideas for e-Publishing.

Developing and evaluating business ideas for e-Publishing.

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  • 1. Week 2
    Business Opportunity Analysis
  • 2. Last Week’s Learnings
    What is Marketing?
    What is an e-Publication?
    Where do business ideas come from?
  • 3. Idea Collection
  • 4. Off > Online Publication Activity
    Share the publications you brought at your tables
    Choose the most exciting one
    Present to the class
    What was the inspiration?
    What would the e-Publication offer?
    Who would be the audience?
  • 5. e-Publication Industry
    What makes an e-Publication favourable to a printed one?
    What are some common characteristics of successful online publication sites?
  • 6. Trends
    What are people buying?
    http://trendwatching.com/trends/2011sofar/
    Who is buying (consumer tribes)?
    How are the tools changing?
    http://mashable.com/2011/01/05/web-technologies-2011/
  • 7. Example: Thrillist.com
  • 8. Sample Business Idea
    Capitalize on Urban Trends
    Canadian-focus
    Evolution of the “Thrillist” Idea
    URBANCHEER.COM
  • 9. Feasibility Analysis
  • 10. Qualitative Analysis - Competition
    Direct Competition – competes in the same product category
    Indirect Competition – alternative purchase choice
    The market will make room for something great.
  • 11. Qualitative Analysis - Competition
    Is the market easy to enter?
    Costs of capital
    Legal barriers
    Is the offering unique or generic?
    How saturated is the industry?
    Is the industry growing, shrinking, or staying the same?
  • 12. Qualitative Analysis – Other Factors
    Social/Cultural
    Technology
    Economic
    Political
    Legal
    What opportunities and threats do these factors create for your business?
  • 13. SWOT Analysis
  • 14. Examples: Strengths & Weaknesses
    Strengths – what gives your company an edge?
    Years of experience in the related industry
    Access to funds
    Endorsement by an influencer
    Recognizable name
    Weaknesses – how is your company vulnerable?
    High cost of production
    Low differentiation in a saturated industry
    Unknown name
    Lack of network
  • 15. Quantitative Analysis
    Market Potential – What is the industry worth?
    =# consumers x $ spent each on average
    (Can usually find in research)
    Market Share % - How much could you get of it?
    Base on research.
  • 16. Quantitative Analysis
    Potential Revenue
    =Market Share x Market Potential
    Net Income
    =Potential Revenue –
    Anticipated Expenses
  • 17. Quantitative Analysis – e-Publications
    How big is the potential audience?
    # Internet Users in target region
    # Users within target age demographic
    Online Publications
    Revenue in online advertising
    Revenue in online subscriptions
    IABCanada Online Advertising Report
    If you have an audience, the advertisers will come.
  • 18. Information Sources
    Primary
    Surveys, focus groups, observation, experimental
    Secondary
    Strategis.ic.gc.ca
    Commerce.statcan.ca
    Omdc.on.ca
    Magazinescanada.ca
    Locally:
    Ottawa.ca/business
    Ottawaregion.com
  • 19. Idea Collection - Exercise
    Develop 1 idea for each collection source
    Previous experience (work, volunteer, education)
    Hobbies you have
    Pain points – things that make people unhappy
    Industry gaps – something you think is missing
    Trends – look them up; think of your travels
    Evolving Ideas – get inspiration from another publication
  • 20. Core Business Decisions
  • 21. Mission, Vision & Values
    Mission: Purpose and main objectives of the organization; reason for being
    Vision: Communicated direction in terms of the organization’s values; forward-thinking
    Values: shared beliefs; drive culture, brand, and strategy
  • 22. Corporate Alignment
    Corporate Mission, Vision, Values
    Business Problems & Objectives
    Marketing Challenges and Objectives
    Marketing Strategy and Planning
    Marketing Activities and Campaigns
    Long Term
    Short Term
    Mid Term
  • 23. Brand Statement
    One possible format:
    We [name of company] promise [customer group]
    That they can count on us for [unique attribute or
    benefit] delivered with [character, tone, mood].
  • 24. Positioning
    Brand Positioning Strategy:
    The intended image of a brand within a market space relative to competition and by specified characteristics
    What will set the company apart within the market segment?
    Identify existing gaps and saturation – use a Positioning Map
  • 25. Prestigious
    Price
    Style
    Sporty/Sleek
    Comfortable
    Affordable
  • 26. Geoff Moore’s formula:
    For (target customer)
    Who (statement of need or opportunity)
    The (product name) is a (product category)
    That (statement of key benefit – that is compelling reason to buy)
    Unlike (primary competitive alternative)
    Our product (statement of primary differentiation)

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