New Product Marketing: Increase your odds of new product success...30 hours of lectures in 60 minutes!

Bryan Cassady
Bryan CassadyManaging Director at Fast Bridge Consulting
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
KU Leuven Master Class: New Product Marketing
11/11 Course Summary
Increase your odds of new
product success
30 hours of lectures in 60 minutes
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
About this course
It is a sad fact that most new businesses, products and service fail. Some
estimate the failure rate is as high as 90%. This course is about why products
fail and what you can do to increase your odds of success.
This lecture is a part of series of 12 lectures. In my classes I use a lot of
videos. If you’d like to see the presentations with videos, go to:
http://www.fast-bridge.net/resources/new-product-marketing/
I hope in the pages that follow you will find new ideas and inspiration… If
you’d like to download the whole class go to:
http://www.slideshare.net/bryancassady2/2009-course-new-product-
management-by-bryan-cassady
If you have ideas on ways to improve this course or would like help with your
new products, I’d love to here from you…
Bryan Cassady
bryan@fast-bridge.com
+32-475-860-757
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
When I was growing up, my parents told me,
“Finish your dinner. People in China and India
are starving.” I tell my daughters, “Finish your
homework. People in India and China are
starving for your job.”
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
“Let’s make a dent in the universe.”
Steve Jobs
Apple Computer
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
Let’s make sure we follow the books…
A typical Marketing MBA
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
An interesting book…
Counterintuitive Marketing
Studying brands in 48 categories
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
Airlines Gas Stations Mid-priced American Cars
Athletic Shoes Haircare Products Mid-priced Foreign Cars
Auto Insurance Headache Remedies Motor Oils
Banks Health & Fitness Clubs Newspapers
Beers Home Entertainment Equip. Office Supply Stores
Bookstores Hotels Personal Computers
Bottled water Household Cleansers Pet Supply Stores
Catalog clothing Internet Search Engines Pet Supply Stores
Cigarettes Internet Service Providers Political Parties
Colas Jewelry Potato Chips
Cold Cereals Laundry Detergents Rental Cars
Cookies Liquor Soaps
Cosmetics Long-Distance Telephone Spaghetti Sauces
Credit Cards Luxury American Cars Toothpastes
Department Stores Luxury Foreign Cars TV Networks
Fast Food Restaurants Major Household Appliances Weight Loss Programs
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
 Decreasing in 39
 Stable in 5
 Improving in only 4
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
The study also showed that in two-thirds
of all product categories, a low price is
becoming more important than brand
driven product features, attributes,
and benefits.
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
The study led us to conclude that far more
brands are being transformed into
commodities than commodities are being
transformed into brands.
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
14%
Above
Average
2%
Well below
average
68%
Average Marketing
Program
The Zone of
Exceptional Marketing
The Zone of
Conventional Marketing
14%
Below Average
2%
Well above
average
The
Marketing
Performance
Bell Curve
Source: Counter-Intuitive marketing (2002)
In a connected world, little incremental steps
are the slow death of a brand
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
“Learn not to be careful.”
—Photographer Diane Arbus to her students
(Careful = “The sidelines,” per Harriet Rubin in The Princessa)
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
Google, 9/11, the Internet
Banking: : 1982/Default Latin America = Total
historical earnings; 1992/S & L; 2002/dot.com
Wall Street: “In the last 50 years, the most extreme days in
the financial markets represent half of the returns. Ten days in
50 years. Meanwhile, we are mired in chitchat.”
The 3 of biggest inventions of the 20th century were accidents:
The Laser, the computer, The internet
The Black Swan: The Impact of the
Highly Improbable, Nassim Nicholas Taleb
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
“This book is about luck disguised and perceived as non-luck (that is,
skills) and more generally randomness disguised and perceived as
non-randomness. It manifests itself in the shape of the lucky fool,
defined as a person who benefited from a disproportionate share of
luck but attributed his success to some other, generally precise
reason.”
“We underestimate the share of randomness in just about everything,
a point that might not merit a book—except when it is the specialist
who is the fool of all fools.”
“Mild success can be explainable by skills and labor. Wild success is
attributable to variance.”
Source: Fooled by Randomness: The Hidden Role of Chance
in Life and the Markets —Nassim Nicholas Taleb
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
 Scientific Research
 Biotech
 Movies
 Publishing
 Venture Capital
 Military
 Catastrophe insurance
 Homeland security
 Banking, lending
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
10
Class Summary
Thoughts to leave with
1
Meaningful
differentiation
Is there something that makes you
special Normal = nothing !
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
218
142
100
McMaster University
Hamilton, Ontario, Canada
2Your advertising needs to
be as good as your
best salesman
Clarity in communication
Every day
You are bombarded
by up to
4,000 ads
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
Let a customer say NO because
what you offer
doesn’t apply to them.
But NEVER let a customer say NO because
they don’t understand
what you’re offering.
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
3 Chefs - 3 Years - World Cooking Competition Medalists
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
18%
29%
42%
3Are you offering, value, innovation
or service
(you need to choose ! )
Everything Sells
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
1 + 1 + 1 + 1 = Beauty
1 + 1 + 1 + 0 = Failure
Dramatic differences
Clarity in communication
Everything Selling
4
Candor Counts !
Be Real
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
5Good advertising = nice
Good word of mouth = Great !
Be connected
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
You
6Develop gut feelings
Talk to non-experts
Don’t be fooled by the
experts !
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
2 out of 10 real differences, the rest statistically significant
Yes
Yes
Source: New products what separates winners from losers Cooper & Kleinschmidt
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
Personal opinion:
All the success criteria identified in the winners/losers article are
relevant. But what makes a product a success is
An exceptionally high score on 1 criteria or more likely…
A good score on a range of criteria
7If you enjoy what you do… you’re likely
to do it well
If you believe you’ll do it even better
Have fun
New Product Marketing: Increase your odds of new product success...30 hours of lectures in 60 minutes!
8Good marketing is about business
and people.
Understanding business is easy…
understanding people takes lifetime
Expand your horizons
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
What…
9Never think you own your
customer… you earn them every
day
Share of customer
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
Product Marketing
Bryan Cassady 07/08
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
Product Marketing
Bryan Cassady 07/08
"Our buyers"
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
Not Aware
Sole Buyer
New Product Marketing: Increase your odds of new product success...30 hours of lectures in 60 minutes!
11 Representative FMCG Brands
69% to
the competition
the brand
31% to
Not Aware
Sole Buyer
New Product Marketing: Increase your odds of new product success...30 hours of lectures in 60 minutes!
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
Product Marketing
Bryan Cassady 07/08
Dramatic differences
Clarity in communication
Everything Selling
What… How…
Be Real
Be connected
Don’t be fooled
Have fun
Learn
Measures
Share of customer
Ongoing dialogue: what do they say
New Product Marketing: Increase your odds of new product success...30 hours of lectures in 60 minutes!
Thomas L. Friedman
New York Times Columnist
Author “The World is Flat”
When I was growing up, my parents told
me, "Finish your dinner. People in China
and India are starving."
Today I tell my daughters, "Finish your
homework. People in India and China are
starving for your job."
New Product Marketing: Increase your odds of new product success...30 hours of lectures in 60 minutes!
New Product Marketing: Increase your odds of new product success...30 hours of lectures in 60 minutes!
Bryan Cassady Guest Professor, Bryan@fast-bridge.com
New Product Marketing: Increase your odds of new product success...30 hours of lectures in 60 minutes!
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New Product Marketing: Increase your odds of new product success...30 hours of lectures in 60 minutes!

  • 1. Bryan Cassady Guest Professor, Bryan@fast-bridge.com KU Leuven Master Class: New Product Marketing 11/11 Course Summary Increase your odds of new product success 30 hours of lectures in 60 minutes
  • 2. Bryan Cassady Guest Professor, Bryan@fast-bridge.com About this course It is a sad fact that most new businesses, products and service fail. Some estimate the failure rate is as high as 90%. This course is about why products fail and what you can do to increase your odds of success. This lecture is a part of series of 12 lectures. In my classes I use a lot of videos. If you’d like to see the presentations with videos, go to: http://www.fast-bridge.net/resources/new-product-marketing/ I hope in the pages that follow you will find new ideas and inspiration… If you’d like to download the whole class go to: http://www.slideshare.net/bryancassady2/2009-course-new-product- management-by-bryan-cassady If you have ideas on ways to improve this course or would like help with your new products, I’d love to here from you… Bryan Cassady bryan@fast-bridge.com +32-475-860-757
  • 3. Bryan Cassady Guest Professor, Bryan@fast-bridge.com
  • 4. Bryan Cassady Guest Professor, Bryan@fast-bridge.com When I was growing up, my parents told me, “Finish your dinner. People in China and India are starving.” I tell my daughters, “Finish your homework. People in India and China are starving for your job.”
  • 5. Bryan Cassady Guest Professor, Bryan@fast-bridge.com “Let’s make a dent in the universe.” Steve Jobs Apple Computer
  • 6. Bryan Cassady Guest Professor, Bryan@fast-bridge.com Let’s make sure we follow the books… A typical Marketing MBA
  • 7. Bryan Cassady Guest Professor, Bryan@fast-bridge.com An interesting book… Counterintuitive Marketing Studying brands in 48 categories
  • 8. Bryan Cassady Guest Professor, Bryan@fast-bridge.com Airlines Gas Stations Mid-priced American Cars Athletic Shoes Haircare Products Mid-priced Foreign Cars Auto Insurance Headache Remedies Motor Oils Banks Health & Fitness Clubs Newspapers Beers Home Entertainment Equip. Office Supply Stores Bookstores Hotels Personal Computers Bottled water Household Cleansers Pet Supply Stores Catalog clothing Internet Search Engines Pet Supply Stores Cigarettes Internet Service Providers Political Parties Colas Jewelry Potato Chips Cold Cereals Laundry Detergents Rental Cars Cookies Liquor Soaps Cosmetics Long-Distance Telephone Spaghetti Sauces Credit Cards Luxury American Cars Toothpastes Department Stores Luxury Foreign Cars TV Networks Fast Food Restaurants Major Household Appliances Weight Loss Programs
  • 9. Bryan Cassady Guest Professor, Bryan@fast-bridge.com  Decreasing in 39  Stable in 5  Improving in only 4
  • 10. Bryan Cassady Guest Professor, Bryan@fast-bridge.com The study also showed that in two-thirds of all product categories, a low price is becoming more important than brand driven product features, attributes, and benefits.
  • 11. Bryan Cassady Guest Professor, Bryan@fast-bridge.com The study led us to conclude that far more brands are being transformed into commodities than commodities are being transformed into brands.
  • 12. Bryan Cassady Guest Professor, Bryan@fast-bridge.com 14% Above Average 2% Well below average 68% Average Marketing Program The Zone of Exceptional Marketing The Zone of Conventional Marketing 14% Below Average 2% Well above average The Marketing Performance Bell Curve Source: Counter-Intuitive marketing (2002)
  • 13. In a connected world, little incremental steps are the slow death of a brand
  • 14. Bryan Cassady Guest Professor, Bryan@fast-bridge.com “Learn not to be careful.” —Photographer Diane Arbus to her students (Careful = “The sidelines,” per Harriet Rubin in The Princessa)
  • 15. Bryan Cassady Guest Professor, Bryan@fast-bridge.com
  • 16. Bryan Cassady Guest Professor, Bryan@fast-bridge.com
  • 17. Bryan Cassady Guest Professor, Bryan@fast-bridge.com Google, 9/11, the Internet Banking: : 1982/Default Latin America = Total historical earnings; 1992/S & L; 2002/dot.com Wall Street: “In the last 50 years, the most extreme days in the financial markets represent half of the returns. Ten days in 50 years. Meanwhile, we are mired in chitchat.” The 3 of biggest inventions of the 20th century were accidents: The Laser, the computer, The internet The Black Swan: The Impact of the Highly Improbable, Nassim Nicholas Taleb
  • 18. Bryan Cassady Guest Professor, Bryan@fast-bridge.com
  • 19. Bryan Cassady Guest Professor, Bryan@fast-bridge.com “This book is about luck disguised and perceived as non-luck (that is, skills) and more generally randomness disguised and perceived as non-randomness. It manifests itself in the shape of the lucky fool, defined as a person who benefited from a disproportionate share of luck but attributed his success to some other, generally precise reason.” “We underestimate the share of randomness in just about everything, a point that might not merit a book—except when it is the specialist who is the fool of all fools.” “Mild success can be explainable by skills and labor. Wild success is attributable to variance.” Source: Fooled by Randomness: The Hidden Role of Chance in Life and the Markets —Nassim Nicholas Taleb
  • 20. Bryan Cassady Guest Professor, Bryan@fast-bridge.com
  • 21. Bryan Cassady Guest Professor, Bryan@fast-bridge.com
  • 22. Bryan Cassady Guest Professor, Bryan@fast-bridge.com  Scientific Research  Biotech  Movies  Publishing  Venture Capital  Military  Catastrophe insurance  Homeland security  Banking, lending
  • 23. Bryan Cassady Guest Professor, Bryan@fast-bridge.com
  • 25. 1 Meaningful differentiation Is there something that makes you special Normal = nothing !
  • 26. Bryan Cassady Guest Professor, Bryan@fast-bridge.com
  • 27. Bryan Cassady Guest Professor, Bryan@fast-bridge.com 218 142 100 McMaster University Hamilton, Ontario, Canada
  • 28. 2Your advertising needs to be as good as your best salesman Clarity in communication
  • 29. Every day You are bombarded by up to 4,000 ads
  • 30. Bryan Cassady Guest Professor, Bryan@fast-bridge.com
  • 31. Bryan Cassady Guest Professor, Bryan@fast-bridge.com
  • 32. Bryan Cassady Guest Professor, Bryan@fast-bridge.com Let a customer say NO because what you offer doesn’t apply to them. But NEVER let a customer say NO because they don’t understand what you’re offering.
  • 33. Bryan Cassady Guest Professor, Bryan@fast-bridge.com
  • 34. Bryan Cassady Guest Professor, Bryan@fast-bridge.com 3 Chefs - 3 Years - World Cooking Competition Medalists
  • 35. Bryan Cassady Guest Professor, Bryan@fast-bridge.com 18% 29% 42%
  • 36. 3Are you offering, value, innovation or service (you need to choose ! ) Everything Sells
  • 37. Bryan Cassady Guest Professor, Bryan@fast-bridge.com
  • 38. Bryan Cassady Guest Professor, Bryan@fast-bridge.com 1 + 1 + 1 + 1 = Beauty 1 + 1 + 1 + 0 = Failure
  • 39. Dramatic differences Clarity in communication Everything Selling
  • 41. Bryan Cassady Guest Professor, Bryan@fast-bridge.com
  • 42. Bryan Cassady Guest Professor, Bryan@fast-bridge.com
  • 43. 5Good advertising = nice Good word of mouth = Great ! Be connected
  • 44. Bryan Cassady Guest Professor, Bryan@fast-bridge.com
  • 45. Bryan Cassady Guest Professor, Bryan@fast-bridge.com
  • 46. Bryan Cassady Guest Professor, Bryan@fast-bridge.com You
  • 47. 6Develop gut feelings Talk to non-experts Don’t be fooled by the experts !
  • 48. Bryan Cassady Guest Professor, Bryan@fast-bridge.com
  • 49. Bryan Cassady Guest Professor, Bryan@fast-bridge.com
  • 50. 2 out of 10 real differences, the rest statistically significant Yes Yes Source: New products what separates winners from losers Cooper & Kleinschmidt
  • 51. Bryan Cassady Guest Professor, Bryan@fast-bridge.com Personal opinion: All the success criteria identified in the winners/losers article are relevant. But what makes a product a success is An exceptionally high score on 1 criteria or more likely… A good score on a range of criteria
  • 52. 7If you enjoy what you do… you’re likely to do it well If you believe you’ll do it even better Have fun
  • 54. 8Good marketing is about business and people. Understanding business is easy… understanding people takes lifetime Expand your horizons
  • 55. Bryan Cassady Guest Professor, Bryan@fast-bridge.com
  • 56. Bryan Cassady Guest Professor, Bryan@fast-bridge.com What…
  • 57. 9Never think you own your customer… you earn them every day Share of customer
  • 58. Bryan Cassady Guest Professor, Bryan@fast-bridge.com Product Marketing Bryan Cassady 07/08
  • 59. Bryan Cassady Guest Professor, Bryan@fast-bridge.com Product Marketing Bryan Cassady 07/08 "Our buyers"
  • 60. Bryan Cassady Guest Professor, Bryan@fast-bridge.com Not Aware Sole Buyer
  • 62. 11 Representative FMCG Brands 69% to the competition the brand 31% to Not Aware Sole Buyer
  • 64. Bryan Cassady Guest Professor, Bryan@fast-bridge.com Product Marketing Bryan Cassady 07/08
  • 65. Dramatic differences Clarity in communication Everything Selling What… How… Be Real Be connected Don’t be fooled Have fun Learn Measures Share of customer Ongoing dialogue: what do they say
  • 67. Thomas L. Friedman New York Times Columnist Author “The World is Flat” When I was growing up, my parents told me, "Finish your dinner. People in China and India are starving." Today I tell my daughters, "Finish your homework. People in India and China are starving for your job."
  • 70. Bryan Cassady Guest Professor, Bryan@fast-bridge.com