Google Day X - How to win the Price War (Truong Bomi)
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To win a price war is the super big and essential issue of any business. However, to figure out the hidden ice berg inside, it requires to jump into the deep layers of strategy ocean. In this fundamental research, I go through 4 pillars to discover the key questions that shape the price war, and get to know how to conquer it: 1. MARKET: - Painful problem? - Big reachable market? - Blue vs. Red Ocean? 2. BUSINESS MODEL: - Direct? - Multi-sided? - Marketplace? 3. STRATEGY - Positioning? - J.Moor’s model (Technology Adoptation Life Cycle)? - Product – Market Fit? 4. UNFAIR ADVANTAGES - Product? - Team? - Resources? - Traction?
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Google Day X - How to win the Price War (Truong Bomi)
- 1. HOW TO WIN THE PRICE WAR Brought to you by: Truong Bomi
- 9. me There’s a way out But
- 11. MARKET Which is the biggest market with most painful problems?
- 12. Problem Big pain? Price is an important concern for customers booking travel online. Hotels leave you disconnected from the city and its culture. No easy way exists to book a room with a local or become a host. Rental listings platform Problem worth solving
- 13. Market size Reachably big? 1.9 billion + 532 million 10 million Total addressable market Servable market Target NICHE market Trips booked worldwide Budget & online trips Trips with Airbnb Rental listings platform
- 14. Market size Reachably big? Target NICHE market Untapped Market Rental listings platform Fierce Competition 10 million
- 15. Create uncontested market space Make the competition irrelevant Create & capture new demand Break the value – cost trade-off Competing in existing market space Beat the competition Exploit existing demand Make the value – cost trade-off
- 17. BUSINESS MODEL Have you found the right one yet?
- 18. Discovery & validate Business Model that works DIRECT MULTI-SIDED MARKET PLACE
- 19. Unaware Visitors Happy Customers Freemium Model Franchise Model DIRECT
- 21. Unaware Visitors Happy Users Happy Customers Who pays (e.g, advertisers) MULTI-SIDED
- 22. Unaware Sellers Happy Sellers MARKET PLACE Unaware Visitors Happy Buyers
- 23. Unaware Sellers Happy Sellers MARKET PLACE We take a X% commission on each transaction. Unaware Visitors Happy Buyers Units $ Profit Loss Break-even point
- 24. STRATEGY How to go to market successfully?
- 27. Starting from Positioning Low price Low quality High quality High price DIFFERENTIATION
- 28. Starting from Positioning Low Environmental friendliness Low quality High quality High Environmental friendliness Relevance
- 29. Source: Taking right strategic go-to-market steps Moor’s model NICHE Market
- 30. by Alexandre Wayenberg Value Map Customer Profile Then getting to Product – Market Fit being in a good market with a product that can satisfy that market
- 31. Then getting to Product – Market Fit How would you feel if you could no longer use [product]? 1. Very disappointed 2. Somewhat disappointed 3. Not disappointed (it isn’t really that useful) 4. N/A – I no longer use [product] 40%
- 32. UNFAIR ADVANTAGES What are the secret weapons that hinder competitors from copied or bought?
- 33. Never forget to build up Unfair Advantages Product ResourcesTeam Traction Can’t be easily copied or bought
- 34. Never forget to build up Unfair Advantages Product 50% of your time on PRODUCT 50% on TRACTION Spend Makes customers very happy Does it better, different than anyone else Remember “NICHE to WIN”
- 35. Never forget to build up Unfair Advantages Team Entrepreneurs who have sold companies Geeks with deep technical background Sales/Marketing who make it rain - Dave McClure, Investor, Founder of 500 Startup -
- 36. Never forget to build up Unfair Advantages Resources Bootstrapping Seed Round Series A, B, C,… IPO
- 37. Never forget to build up Unfair Advantages Resources Partnership Channels Tech Supply
- 38. Never forget to build up Unfair Advantages Resources Partnership Channels Tech Supply Traditional Delivery Companies
- 39. Never forget to build up Unfair Advantages Resources Partnership Channels Tech Supply Traditional Delivery Companies
- 40. Never forget to build up Unfair Advantages Traction CUSTOMERS TIME (months) Product – Market Fit 500 paid customers Scale 5000 paid customers
- 41. Never forget to build up Unfair Advantages Traction Acquisition Activation RETENTION Revenue Referral
- 42. Market Painful problem? Big reachable market? Blue vs. Red Ocean?
- 43. Market Business Model Painful problem? Big reachable market? Blue vs. Red Ocean? Direct? Multi-sided? Marketplace?
- 44. Market Business Model Strategy Painful problem? Big reachable market? Blue vs. Red Ocean? Direct? Multi-sided? Marketplace? Positioning? J.Moor’s model? Product – Market Fit?
- 45. Market Business Model Strategy Unfair Advantages Painful problem? Big reachable market? Blue vs. Red Ocean? Direct? Multi-sided? Marketplace? Positioning? J.Moor’s model? Product – Market Fit? Product? Team? Resources? Traction?
- 46. Market Business Model Strategy Unfair Advantages WIN THE PRICE WAR Painful problem? Big reachable market? Blue vs. Red Ocean? Direct? Multi-sided? Marketplace? Positioning? J.Moor’s model? Product – Market Fit? Product? Team? Resources? Traction?
- 47. Thank you! Powered by Talk to me at truong@ahamove.com
- 48. For more Growth Hacking stories Click