Market Information training<br />8.3.2011 at Innopoli, Espoo<br />Juhani Polkko | San Francisco Oy<br />
Objectives<br />Define market and industry<br />Understand positioning and differentiation<br />Know about basics of Blue ...
Instructor background<br />8 years in consumer electronics/games<br />2004-2006 in Silicon Valley<br />2006-2007 U.S. star...
Participant introductions (1 min)<br />What does your company do?<br />In what industry you operate in?<br />Who are your ...
Define market and industry<br />What market should we be in? How does it fit different industries?<br />
Market segments<br />?<br />Competitors<br />?<br />Barriers<br />?<br />?<br />Customers<br />?<br />Partners<br />?<br /...
Market or Marketplace<br />Market = potential customers (prospects)<br />Whose problems does your innovation solve?<br />S...
Industry boundaries<br />Our market<br />What industry you believe you are in?<br />What industry you should be in?<br />
Understand positioning and differentiation<br />What’s our place in the value chain? How do we differentiate from competit...
STP model<br />
Value chain example<br />User Value<br />Money<br /><ul><li>Should I focus on one part or several (vertical integration)?
Where are my competitors? Should I be in the same place?
Who is the driver in the value chain (demand creator)?
Select Push or Pull sales strategy?</li></li></ul><li>How prioritize market segments<br />Source: Chasm Institute / Embras...
Positioning = Perceived Value<br />
Simple positioning matrix<br />Facebook<br />Horizontal<br />Closed network<br />Open network<br />Windows Live Messenger<...
Differentiation variables<br />Source: Marketing Management: Kotler, Philip<br />
Know about basics of Blue Ocean Strategy<br />How to make competition irrelevant?<br />
Making competition irrelevant<br />Source: Adapted from Blue Ocean Strategy, page 18<br />
Value Innovation<br />Lower Costs<br />Value Innovation!<br />Higher Value<br />Source: Blue Ocean Strategy, page 16<br />
The Four Actions Framework<br />Eliminate factors that are no longer relevant.<br />Reduce features and simplify offering<...
Examples of Blue Ocean strategies<br />
Why most still choose Red Ocean<br />Red Ocean is proven market.<br />Marketing/sales can be hard in Blue Ocean.<br />Blue...
Learn about methods for market validation<br />Process to learn about market demand and customer aspirations<br />
1. Create the positioning pitch<br />Source: Embrase Business Consulting<br />
2. Find the pain<br />Find 3-5 decision makers within your target segment<br />Agree on short interviews (ask for opinion,...
3. Test assumptions/hypotheses<br />Market/customer problem<br />Positioning<br />Value proposition<br />Differentiation<b...
4. Analyze the results<br />Were the questions open-ended enough to create a dialog?<br />Is this the right target market ...
Discussion points<br />What about consumer products/services?<br />When should I buy external research services?<br />How ...
See 10 free tools for market intelligence<br />I can’t afford to buy research reports – what can I do myself?<br />
Tool #1: Google Advanced<br />Results filtering<br />http://www.google.com/search?hl=en&q=spinno&aq=f&aqi=p-p2g8&aql=&oq=<...
Tool #2: Google Reader & RSS<br />RSS subscriptions <br />http://www.google.com/reader/<br />
Tool #3: Google Alerts<br />Automatic keyword alerts by email or RSS<br />http://www.google.com/alerts<br />
Tool #4: Efficient email<br />Email filtering and data mining<br />https://mail.google.com/<br />
Tool #5: Google Trends<br />Keyword comparison and trends<br />http://www.google.com/trends<br />
Tool #6: Ad Preview Tool<br />Find AdWords ads in other countries<br />https://adwords.google.com/select/AdTargetingPrevie...
Tool #7: Keyword Spy<br />Find out which keyword competitors use<br />http://www.keywordspy.com<br />
Tool #8: Vertical search<br />Not everything can be found with Google<br />Example (SEC): http://www.sec.gov/edgar/searche...
Tool #9: ChangeDetection.com<br />Get alerts for any website changes<br />http://www.changedetection.com<br />
Tool #10: Google Apps (bonus)<br />Free email and collaboration suite<br />http://www.google.com/apps/intl/en/group/index....
Create market monitoring plan & process<br />How do we do continuous market intelligence efficiently?<br />
Pitfalls and warnings<br />Monitoring can easily steal a lot of time<br />Set up rules how much employees can use work tim...
Simple implementation plan (1/2)<br />Decide on the resources and tools<br />Preferably only founders should follow the ma...
Simple implementation plan (2/2)<br />5.   Create a schedule for monitoring (max. once/day)<br />Preferably outside office...
REMEMBER!<br />The amount of information is unlimited.<br />98% of information cannot be found online.<br />Most valuable ...
DISCUSS about challenges and solutions<br />What challenges have others faced and how to overcome them?<br />
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  • Markkinajatoimiala
  • The simultaneous pursuit of Differentiation or Low Cost
  • Market information training for spinno 2011 03

    1. 1. Market Information training<br />8.3.2011 at Innopoli, Espoo<br />Juhani Polkko | San Francisco Oy<br />
    2. 2. Objectives<br />Define market and industry<br />Understand positioning and differentiation<br />Know about basics of Blue Ocean Strategy<br />Learn about methods for market validation<br />See 10 free tools for market intelligence<br />Create market monitoring plan & process<br />Discuss about challenges and solutions<br />
    3. 3. Instructor background<br />8 years in consumer electronics/games<br />2004-2006 in Silicon Valley<br />2006-2007 U.S. startup<br />2008-2009 Nokia Interactive<br />2009-2011 Offerium<br />2009- Freespee AB<br />MBA (intl. finance) Aalto/HSE EE<br />
    4. 4. Participant introductions (1 min)<br />What does your company do?<br />In what industry you operate in?<br />Who are your customers at the moment? <br />Are they in Finland or international?<br />Do you have a product/service in the market?<br />What kind of market research have you done?<br />
    5. 5. Define market and industry<br />What market should we be in? How does it fit different industries?<br />
    6. 6. Market segments<br />?<br />Competitors<br />?<br />Barriers<br />?<br />?<br />Customers<br />?<br />Partners<br />?<br />Industry sectors<br />Prospects<br />The ultimate solution for a well-defined, painful problem<br />Best entertainment in the market, following the latest consumer trends<br />Team<br />Business Model<br />Technology<br />Finance<br />
    7. 7. Market or Marketplace<br />Market = potential customers (prospects)<br />Whose problems does your innovation solve?<br />Segment your market into different types of customers (by common characteristics)<br />Makes sales and marketing easier<br />e.g. in B2B: company size, industry sector, maturity<br />e.g. in B2C: consumer behavior, demographics<br />Define in which industries your market belong to<br />
    8. 8. Industry boundaries<br />Our market<br />What industry you believe you are in?<br />What industry you should be in?<br />
    9. 9. Understand positioning and differentiation<br />What’s our place in the value chain? How do we differentiate from competitors?<br />
    10. 10. STP model<br />
    11. 11. Value chain example<br />User Value<br />Money<br /><ul><li>Should I focus on one part or several (vertical integration)?
    12. 12. Where are my competitors? Should I be in the same place?
    13. 13. Who is the driver in the value chain (demand creator)?
    14. 14. Select Push or Pull sales strategy?</li></li></ul><li>How prioritize market segments<br />Source: Chasm Institute / Embrase<br />
    15. 15. Positioning = Perceived Value<br />
    16. 16. Simple positioning matrix<br />Facebook<br />Horizontal<br />Closed network<br />Open network<br />Windows Live Messenger<br />YouTube<br />Habbo Hotel<br />Yammer<br />Vertical<br />Flickr<br />
    17. 17. Differentiation variables<br />Source: Marketing Management: Kotler, Philip<br />
    18. 18. Know about basics of Blue Ocean Strategy<br />How to make competition irrelevant?<br />
    19. 19.
    20. 20.
    21. 21. Making competition irrelevant<br />Source: Adapted from Blue Ocean Strategy, page 18<br />
    22. 22. Value Innovation<br />Lower Costs<br />Value Innovation!<br />Higher Value<br />Source: Blue Ocean Strategy, page 16<br />
    23. 23. The Four Actions Framework<br />Eliminate factors that are no longer relevant.<br />Reduce features and simplify offering<br />Create factors the competition does not offer<br />Raise the demand by discovering the value sources<br />Source: Blue Ocean Strategy, page 29<br />
    24. 24. Examples of Blue Ocean strategies<br />
    25. 25. Why most still choose Red Ocean<br />Red Ocean is proven market.<br />Marketing/sales can be hard in Blue Ocean.<br />Blue Ocean often requires more capital.<br />Differentiation is usually relatively simple.<br />Red Ocean strategy is easier to plan and predict.<br />Competition is never perfect.<br />No strategy is black or white.<br />
    26. 26. Learn about methods for market validation<br />Process to learn about market demand and customer aspirations<br />
    27. 27. 1. Create the positioning pitch<br />Source: Embrase Business Consulting<br />
    28. 28. 2. Find the pain<br />Find 3-5 decision makers within your target segment<br />Agree on short interviews (ask for opinion, do not sell)<br />Interviews should be done by company founders<br />If possible; Only exception is language issues<br />Make sure the person understands product/market<br />Most important questions<br />“What keeps you up at night?”<br />Test your positioning pitch<br />Plans for investing in the space (short or long term)<br />Operational contacts within the organization<br />Source: Infrasystems (adapted)<br />
    29. 29. 3. Test assumptions/hypotheses<br />Market/customer problem<br />Positioning<br />Value proposition<br />Differentiation<br />Target market segment<br />Core product features<br />Distribution<br />Pricing<br />
    30. 30. 4. Analyze the results<br />Were the questions open-ended enough to create a dialog?<br />Is this the right target market segment?<br />Did we ask the right questions?<br />Were the answers aligned?<br />How did the answers compare to our assumptions?<br />Do we need to make changes to our product strategy?<br />Continue until confident you are on right track.<br />If results are negative, try adjusting the pitch or change segment.<br />Source: Infrasystems (adapted)<br />
    31. 31. Discussion points<br />What about consumer products/services?<br />When should I buy external research services?<br />How to deal with foreign markets?<br />Should I sell first or develop first?<br />Who should talk to the customers/prospects?<br />How much is enough validation?<br />
    32. 32. See 10 free tools for market intelligence<br />I can’t afford to buy research reports – what can I do myself?<br />
    33. 33. Tool #1: Google Advanced<br />Results filtering<br />http://www.google.com/search?hl=en&q=spinno&aq=f&aqi=p-p2g8&aql=&oq=<br />
    34. 34. Tool #2: Google Reader & RSS<br />RSS subscriptions <br />http://www.google.com/reader/<br />
    35. 35. Tool #3: Google Alerts<br />Automatic keyword alerts by email or RSS<br />http://www.google.com/alerts<br />
    36. 36. Tool #4: Efficient email<br />Email filtering and data mining<br />https://mail.google.com/<br />
    37. 37. Tool #5: Google Trends<br />Keyword comparison and trends<br />http://www.google.com/trends<br />
    38. 38. Tool #6: Ad Preview Tool<br />Find AdWords ads in other countries<br />https://adwords.google.com/select/AdTargetingPreviewTool<br />
    39. 39. Tool #7: Keyword Spy<br />Find out which keyword competitors use<br />http://www.keywordspy.com<br />
    40. 40. Tool #8: Vertical search<br />Not everything can be found with Google<br />Example (SEC): http://www.sec.gov/edgar/searchedgar/companysearch.html<br />Others listed at www.spinno.fi (companies, trademarks, patents, etc)<br />
    41. 41. Tool #9: ChangeDetection.com<br />Get alerts for any website changes<br />http://www.changedetection.com<br />
    42. 42. Tool #10: Google Apps (bonus)<br />Free email and collaboration suite<br />http://www.google.com/apps/intl/en/group/index.html<br />
    43. 43. Create market monitoring plan & process<br />How do we do continuous market intelligence efficiently?<br />
    44. 44. Pitfalls and warnings<br />Monitoring can easily steal a lot of time<br />Set up rules how much employees can use work time<br />More important to decide what not to follow<br />Always decide what you want to get from the process<br />Usually the only good reason for market intelligence is to create foresight and make shift changes<br />Don’t worry too much about the competitors.<br />
    45. 45. Simple implementation plan (1/2)<br />Decide on the resources and tools<br />Preferably only founders should follow the market<br />Select keywords<br />Influencers, competitors, prospects, industry terms<br />Select followed channels<br />RSS feeds, newsletters, websites<br />Setup tools and stick with it<br />Make a decision how often you change them<br />
    46. 46. Simple implementation plan (2/2)<br />5. Create a schedule for monitoring (max. once/day)<br />Preferably outside office hours<br />Save new resources but add them to the used tools for example once a week<br />If you have open marketing strategy, actively engage in online discussions or appoint a person to do so<br />Analyze and discuss findings once a month and decide on action plans for marketing/sales/develop.<br />
    47. 47. REMEMBER!<br />The amount of information is unlimited.<br />98% of information cannot be found online.<br />Most valuable source is your personal network.<br />
    48. 48. DISCUSS about challenges and solutions<br />What challenges have others faced and how to overcome them?<br />
    49. 49.
    50. 50. Top lessons learned<br />Find the customer pain.<br />Simplify your pitch.<br />Reiterate fast enough.<br />Prepare for long sales cycles.<br />Focus on yourself, not others.<br />
    51. 51. Contact info<br />San Francisco Oy<br />Fredrikinkatu 61, 6th Floor<br />FI-00100 Helsinki<br />Juhani Polkko, CEO<br />+358 40 543 0825 / Skype: jpolkko<br />juhani@sanfrancisco.fi<br />www.twitter.com/juhani<br />www.linkedin.com/in/juhani<br />

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