The document discusses new product launches and identifies key factors for success. It finds that most new products fail and launches often fall short of expectations. A study identified several proven methods to improve launch success, including developing products with an "outside-in" approach focused on customer problems rather than interest, ensuring accurate translation of marketing materials for sales teams, and utilizing tools to align marketing and sales. Companies that adopt these customer-centric approaches can achieve significantly higher sales and margins.
The document outlines a 4-step process for introducing a new product to market:
1) Identify a market that is dissatisfied or indifferent to disrupt perceived satisfaction. Drive awareness of limitations of current therapies and position the new product as an innovative solution.
2) Bring a uniquely innovative product to market that disrupts the existing market. Develop segmentation and gather feedback prior to establishing research and development.
3) Gain rapid availability and access to all qualified customer channels through effective distribution. Target customers and develop product champions.
4) Establish leadership presence with qualified customers to create product and resource value that establishes partnerships with healthcare providers and patients.
Brand Team 2016 sales/Marketing QuestionsDavid Delong
This document discusses concerns that pharmaceutical company colleagues may have such as hitting budget numbers, delivering sales growth that exceeds category growth, determining if new or existing business is driving current growth, and whether traditional key message delivery strategies are still effective. It suggests that improving the clinical and commercial relevance of sales conversations through a service called DrProfiling.com can help address these issues and improve the impact and performance of sales forces.
The saying is somewhat valid that you only
have “1 shot” at launching a new product but
that would stand the reasoning that 100% of
product launches are successful…and we all
know that’s NOT accurate. In this presentation
I will attempt to provide ways you can
revitalize your brand if indeed…your launch
wasn’t stellar.
This presentation discusses how to gather customer insight and use it to grow a customer database. It examines customer segmentation to identify opportunities. Customer insight is gained by understanding emotional and rational drivers that influence customer perceptions. The goal is to uncover hidden forces that shape customer attitudes, beliefs, motivations and behaviors. A survey found the top reasons customers buy are need, customer service, value and cost. Current satisfied customers, referrals and market leaders are top trusted sources in the buying process. Segmentation helps identify appropriate channels, focus branding, and target audiences. Creating a customer-focused culture and team is key to establishing customer loyalty through commitment, positive experiences, and addressing issues. Metrics should measure both company and employee performance on customer focus.
Entrepreneurial Selling is a new sales methodology aimed at helping sales people and entrepreneurs to identify and develop new business opportunities together with their customers. The methodology is based on a 10 year long research program on the future of sales.
“…The Sales Director is perhaps themost important role
in the company. Arguably no single management
person can generate the immediate and sustainable
profit impact that the Sales Director can.”
AndréHarrell
Selling for entrepreneurs. Why it's important to every startup and the steps to successfully close new business. Content provided by Pamela Peterson, Marketing & Management at University of Nebraska at Omaha.
Master's certificate in sales management day 2 (march 2016)1-degree INC
The document discusses a Master's program in sales management that focuses on turning corporate strategy into effective sales strategy and execution, including avoiding common errors in sales strategy like treating all customers the same and not adjusting sales processes for longer sales cycles. It provides frameworks and examples to help sales leaders implement strategic planning and reviews to drive successful sales outcomes.
The document outlines a 4-step process for introducing a new product to market:
1) Identify a market that is dissatisfied or indifferent to disrupt perceived satisfaction. Drive awareness of limitations of current therapies and position the new product as an innovative solution.
2) Bring a uniquely innovative product to market that disrupts the existing market. Develop segmentation and gather feedback prior to establishing research and development.
3) Gain rapid availability and access to all qualified customer channels through effective distribution. Target customers and develop product champions.
4) Establish leadership presence with qualified customers to create product and resource value that establishes partnerships with healthcare providers and patients.
Brand Team 2016 sales/Marketing QuestionsDavid Delong
This document discusses concerns that pharmaceutical company colleagues may have such as hitting budget numbers, delivering sales growth that exceeds category growth, determining if new or existing business is driving current growth, and whether traditional key message delivery strategies are still effective. It suggests that improving the clinical and commercial relevance of sales conversations through a service called DrProfiling.com can help address these issues and improve the impact and performance of sales forces.
The saying is somewhat valid that you only
have “1 shot” at launching a new product but
that would stand the reasoning that 100% of
product launches are successful…and we all
know that’s NOT accurate. In this presentation
I will attempt to provide ways you can
revitalize your brand if indeed…your launch
wasn’t stellar.
This presentation discusses how to gather customer insight and use it to grow a customer database. It examines customer segmentation to identify opportunities. Customer insight is gained by understanding emotional and rational drivers that influence customer perceptions. The goal is to uncover hidden forces that shape customer attitudes, beliefs, motivations and behaviors. A survey found the top reasons customers buy are need, customer service, value and cost. Current satisfied customers, referrals and market leaders are top trusted sources in the buying process. Segmentation helps identify appropriate channels, focus branding, and target audiences. Creating a customer-focused culture and team is key to establishing customer loyalty through commitment, positive experiences, and addressing issues. Metrics should measure both company and employee performance on customer focus.
Entrepreneurial Selling is a new sales methodology aimed at helping sales people and entrepreneurs to identify and develop new business opportunities together with their customers. The methodology is based on a 10 year long research program on the future of sales.
“…The Sales Director is perhaps themost important role
in the company. Arguably no single management
person can generate the immediate and sustainable
profit impact that the Sales Director can.”
AndréHarrell
Selling for entrepreneurs. Why it's important to every startup and the steps to successfully close new business. Content provided by Pamela Peterson, Marketing & Management at University of Nebraska at Omaha.
Master's certificate in sales management day 2 (march 2016)1-degree INC
The document discusses a Master's program in sales management that focuses on turning corporate strategy into effective sales strategy and execution, including avoiding common errors in sales strategy like treating all customers the same and not adjusting sales processes for longer sales cycles. It provides frameworks and examples to help sales leaders implement strategic planning and reviews to drive successful sales outcomes.
The document discusses the evolution of retail programs and outlines key steps for success, including developing a strategy, auditing existing programs, focusing on communication, visual merchandising, and retailers' needs. It emphasizes the importance of discovery, development, execution, evaluation, and management to deliver a retail program that increases sales and engages consumers by telling the brand story effectively. Success relies on collaboration, consensus-building, and sticking to the agreed-upon strategy throughout the process.
1) The article discusses which types of products companies should consider introducing first in foreign markets - "cash cow" products that already have an established reputation and higher profit margins, or "star" products that have strong growth potential but lower margins.
2) It recommends starting with "cash cow" products that are easier to market successfully in new countries where the company is unknown, due to their proven track record and greater profitability.
3) Introducing "question mark" or "star" products that are less established carries higher risks of unsuccessful market entry and wasting resources if sales expectations are not met in the new market.
This document provides an overview of sales challenges and best practices for B2B startups. It discusses topics like developing a value proposition, analyzing customer needs, sales planning, and sales controlling. The document contains an agenda, descriptions of typical sales challenges for startups, frameworks for sales planning and assessing customer potential, examples of sales KPIs and tools, and contact information for a sales consulting firm.
This document discusses the importance of sales strategy and how to effectively implement a sales strategy through a sales scorecard. It provides examples of how AstraZeneca successfully implemented a sales strategy and scorecard that helped achieve breakthrough performance. A key point is that a sales strategy needs to be translated into specific, measurable objectives and tied to performance management in order to properly align the sales force and ensure the strategy is executed. A sales scorecard system linked to objectives across customer, financial, internal process, and learning/growth perspectives can help sales management implement and track performance against the overall sales strategy.
This document summarizes research into the relationship between sales and marketing teams in companies. The authors found that sales and marketing teams often feud due to economic and cultural differences. Economically, they compete over budgets and disagree over pricing, promotion spending, and product features. Culturally, they attract different personality types and have different priorities - marketers are analytical and future-focused while salespeople are relationship-builders focused on closing deals. However, companies can assess where their sales and marketing relationship stands and take steps to improve integration and collaboration, such as having marketers help qualify leads or jointly planning projects. When sales and marketing work together effectively it benefits the company's top and bottom lines.
Agile marketing is an optimised approach to people, processes and tools in marketing planning and execution, in response to changing customer behaviour and market trends. It provides a way to add, remove and/or modify marketing targets, strategies and tactics on an ongoing basis. Agile marketing centres on a change in business mind-set from the traditional marketing structure to a more flexible (agile) structure that has been so successful in the information technology industry. It champions data-driven marketing decision making, with an emphasis on value creation from a customer’s perspective. Every member of the agile marketing team must embrace the core values of the agile methodology in order to facilitate this shift in mind-set and support the successful completion of the team’s activities and the achievement of the team’s objectives
The document outlines a case study of how Sea Ray, a boat manufacturer, sought to enter the high-end yacht market of 50-70 foot boats. It conducted in-depth research to understand the target customers, including ethnographic interviews of owners. It found customers valued responsiveness, quality, and a personalized experience. The company used this customer insights to diagnose pain points in the ownership journey and develop a brand experience strategy to address these. This included envisioning new interactions to turn research into reality.
Marketing Your Station is a PDF of materials from a one-day workshop for personnel from local radio and TV stations.The same presentation is available with embedded links through my website, BrainSnacksCafe.com.
Slide presentation of major aptitudes of product managers who are good at, and enjoy, their careers -- in other words, product managers who are ENERGIZED!
The document provides guidance on building an effective enterprise sales strategy and team. It recommends establishing a genuine sales leader, executing well-defined processes, using concise messaging focused on buyer needs, identifying opportunities, and measuring success through analytics. Prospect-focused selling is emphasized over reputation-based selling, involving understanding buyer goals and solving problems through solutions rather than presentations. Key elements of the sales process include identifying needs, establishing value, providing proof, and managing competition.
Is Your Product Launch Doomed
10 ways to identity an impending product launch disaster.
The process of introducing a product to market is a serious undertaking. Unfortunately for many companies it’s merely an afterthought; a set of deliverables created from a checklist at the end of product development. There are ten easily identifiable signs that can help forecast if a product launch may be in trouble. Signs you can address and fix before the launch becomes a disaster.
Designing Successful International Go-To-Market StrategiesHans Bech
This white paper describes some of the challenges associated with international market penetration for software companies with long value chains. Further, it gives two real life examples of how companies have overcome these challenges using very different approaches.
Company XYZ changed from a channel-based approach to internationalization through acquisitions. Company ABC chose an international joint venture strategy to compensate for lack of staff and funds.
1. The document discusses various communication methods used for business-to-business (B2B) marketing and sales, with an emphasis on the importance of personal selling.
2. It notes that while other methods such as advertising, catalogs, and trade shows have roles to play, personal selling is still the primary vehicle for selling complex, expensive business products and services.
3. The document also discusses best practices for integrating different communication methods into effective, multi-channel marketing programs, and how to measure the impact of various promotional activities.
This document outlines workshops on creating customer value presented by André Harrell. The workshops cover various topics to teach sales professionals how to understand customers and identify value elements. Workshop 1 discusses perceptions of the sales profession. Workshop 2 focuses on gaining deep knowledge of customers' businesses and markets. Workshop 3 teaches how to identify value elements that differentiate from competition. Workshop 4 shows how to quantify and monetize value through storytelling, assumptions, and math. Workshop 5 explains how to determine what to sell by considering company and customer needs and objectives. The goal of the workshops is to help salespeople learn customer-centric selling skills to create value.
Digital Marketing Strategy IntroductionSkot Waldron
This presentation gives a high-level intro to how we build marketing strategies. It covers goals, buyer personas, content strategies, analytics, reporting, etc.
If you have your own business, small or big, and are wondering how to build your growth plan along with your brand and marketing strategy, then you can find clear, guided steps in this presentation. You can see the steps for both strategy and execution.
Not sure whether you even need a brand and marketing plan? What benefits you can get out of investing in it? Read this presentation to find your answers!
Https _pragmatic-marketing-469ad240.s3.amazonaws.com_pdf_srpm_pm0113Blake Parton
Pragmatic Marketing provides training to technology companies to help them adopt a market-driven focus and build products that customers want to buy. They believe the role of product management is crucial to ensure a company understands customer needs and builds the right products. Many companies confuse marketing with promotional activities like branding or sales, but Pragmatic Marketing uses the classical definition of marketing as understanding customer needs deeply in order to build products that sell themselves. They aim to help companies be driven by market needs rather than their own capabilities.
How to balance performance marketing and brand marketing as you scale, with a specific emphasis on DTC / D2C strategies. Presented at FUTR Europe Summit 2021.
Start Right -Finish Well Product Launch Processjerianasmith
A successful launch requires several elements coming together all at once.Forward Vision has developed a tried-and-true set of best practices to launch a product. Our aim is to provide the companies we work with the tools and a process that give them a competitive edge.
The document outlines the key concepts and components of strategic market management. It discusses business strategy, sustainable competitive advantage, strategic business units, and the different concepts in strategic marketing management. The production concept, product concept, selling concept, marketing concept, and holistic marketing concept are explained. Finally, the components of strategic market management are listed as analyzing the current situation, assessing opportunities, identifying target markets, setting goals, developing strategies, creating an implementation timeline, and establishing a marketing budget.
The document discusses the evolution of retail programs and outlines key steps for success, including developing a strategy, auditing existing programs, focusing on communication, visual merchandising, and retailers' needs. It emphasizes the importance of discovery, development, execution, evaluation, and management to deliver a retail program that increases sales and engages consumers by telling the brand story effectively. Success relies on collaboration, consensus-building, and sticking to the agreed-upon strategy throughout the process.
1) The article discusses which types of products companies should consider introducing first in foreign markets - "cash cow" products that already have an established reputation and higher profit margins, or "star" products that have strong growth potential but lower margins.
2) It recommends starting with "cash cow" products that are easier to market successfully in new countries where the company is unknown, due to their proven track record and greater profitability.
3) Introducing "question mark" or "star" products that are less established carries higher risks of unsuccessful market entry and wasting resources if sales expectations are not met in the new market.
This document provides an overview of sales challenges and best practices for B2B startups. It discusses topics like developing a value proposition, analyzing customer needs, sales planning, and sales controlling. The document contains an agenda, descriptions of typical sales challenges for startups, frameworks for sales planning and assessing customer potential, examples of sales KPIs and tools, and contact information for a sales consulting firm.
This document discusses the importance of sales strategy and how to effectively implement a sales strategy through a sales scorecard. It provides examples of how AstraZeneca successfully implemented a sales strategy and scorecard that helped achieve breakthrough performance. A key point is that a sales strategy needs to be translated into specific, measurable objectives and tied to performance management in order to properly align the sales force and ensure the strategy is executed. A sales scorecard system linked to objectives across customer, financial, internal process, and learning/growth perspectives can help sales management implement and track performance against the overall sales strategy.
This document summarizes research into the relationship between sales and marketing teams in companies. The authors found that sales and marketing teams often feud due to economic and cultural differences. Economically, they compete over budgets and disagree over pricing, promotion spending, and product features. Culturally, they attract different personality types and have different priorities - marketers are analytical and future-focused while salespeople are relationship-builders focused on closing deals. However, companies can assess where their sales and marketing relationship stands and take steps to improve integration and collaboration, such as having marketers help qualify leads or jointly planning projects. When sales and marketing work together effectively it benefits the company's top and bottom lines.
Agile marketing is an optimised approach to people, processes and tools in marketing planning and execution, in response to changing customer behaviour and market trends. It provides a way to add, remove and/or modify marketing targets, strategies and tactics on an ongoing basis. Agile marketing centres on a change in business mind-set from the traditional marketing structure to a more flexible (agile) structure that has been so successful in the information technology industry. It champions data-driven marketing decision making, with an emphasis on value creation from a customer’s perspective. Every member of the agile marketing team must embrace the core values of the agile methodology in order to facilitate this shift in mind-set and support the successful completion of the team’s activities and the achievement of the team’s objectives
The document outlines a case study of how Sea Ray, a boat manufacturer, sought to enter the high-end yacht market of 50-70 foot boats. It conducted in-depth research to understand the target customers, including ethnographic interviews of owners. It found customers valued responsiveness, quality, and a personalized experience. The company used this customer insights to diagnose pain points in the ownership journey and develop a brand experience strategy to address these. This included envisioning new interactions to turn research into reality.
Marketing Your Station is a PDF of materials from a one-day workshop for personnel from local radio and TV stations.The same presentation is available with embedded links through my website, BrainSnacksCafe.com.
Slide presentation of major aptitudes of product managers who are good at, and enjoy, their careers -- in other words, product managers who are ENERGIZED!
The document provides guidance on building an effective enterprise sales strategy and team. It recommends establishing a genuine sales leader, executing well-defined processes, using concise messaging focused on buyer needs, identifying opportunities, and measuring success through analytics. Prospect-focused selling is emphasized over reputation-based selling, involving understanding buyer goals and solving problems through solutions rather than presentations. Key elements of the sales process include identifying needs, establishing value, providing proof, and managing competition.
Is Your Product Launch Doomed
10 ways to identity an impending product launch disaster.
The process of introducing a product to market is a serious undertaking. Unfortunately for many companies it’s merely an afterthought; a set of deliverables created from a checklist at the end of product development. There are ten easily identifiable signs that can help forecast if a product launch may be in trouble. Signs you can address and fix before the launch becomes a disaster.
Designing Successful International Go-To-Market StrategiesHans Bech
This white paper describes some of the challenges associated with international market penetration for software companies with long value chains. Further, it gives two real life examples of how companies have overcome these challenges using very different approaches.
Company XYZ changed from a channel-based approach to internationalization through acquisitions. Company ABC chose an international joint venture strategy to compensate for lack of staff and funds.
1. The document discusses various communication methods used for business-to-business (B2B) marketing and sales, with an emphasis on the importance of personal selling.
2. It notes that while other methods such as advertising, catalogs, and trade shows have roles to play, personal selling is still the primary vehicle for selling complex, expensive business products and services.
3. The document also discusses best practices for integrating different communication methods into effective, multi-channel marketing programs, and how to measure the impact of various promotional activities.
This document outlines workshops on creating customer value presented by André Harrell. The workshops cover various topics to teach sales professionals how to understand customers and identify value elements. Workshop 1 discusses perceptions of the sales profession. Workshop 2 focuses on gaining deep knowledge of customers' businesses and markets. Workshop 3 teaches how to identify value elements that differentiate from competition. Workshop 4 shows how to quantify and monetize value through storytelling, assumptions, and math. Workshop 5 explains how to determine what to sell by considering company and customer needs and objectives. The goal of the workshops is to help salespeople learn customer-centric selling skills to create value.
Digital Marketing Strategy IntroductionSkot Waldron
This presentation gives a high-level intro to how we build marketing strategies. It covers goals, buyer personas, content strategies, analytics, reporting, etc.
If you have your own business, small or big, and are wondering how to build your growth plan along with your brand and marketing strategy, then you can find clear, guided steps in this presentation. You can see the steps for both strategy and execution.
Not sure whether you even need a brand and marketing plan? What benefits you can get out of investing in it? Read this presentation to find your answers!
Https _pragmatic-marketing-469ad240.s3.amazonaws.com_pdf_srpm_pm0113Blake Parton
Pragmatic Marketing provides training to technology companies to help them adopt a market-driven focus and build products that customers want to buy. They believe the role of product management is crucial to ensure a company understands customer needs and builds the right products. Many companies confuse marketing with promotional activities like branding or sales, but Pragmatic Marketing uses the classical definition of marketing as understanding customer needs deeply in order to build products that sell themselves. They aim to help companies be driven by market needs rather than their own capabilities.
How to balance performance marketing and brand marketing as you scale, with a specific emphasis on DTC / D2C strategies. Presented at FUTR Europe Summit 2021.
Start Right -Finish Well Product Launch Processjerianasmith
A successful launch requires several elements coming together all at once.Forward Vision has developed a tried-and-true set of best practices to launch a product. Our aim is to provide the companies we work with the tools and a process that give them a competitive edge.
The document outlines the key concepts and components of strategic market management. It discusses business strategy, sustainable competitive advantage, strategic business units, and the different concepts in strategic marketing management. The production concept, product concept, selling concept, marketing concept, and holistic marketing concept are explained. Finally, the components of strategic market management are listed as analyzing the current situation, assessing opportunities, identifying target markets, setting goals, developing strategies, creating an implementation timeline, and establishing a marketing budget.
Slides David Shoenberger recently used in his discussion w/ mentees of The Product Mentor.
The Product Mentor is a program designed to pair Product Mentors and Mentees from around the World, across all industries, from start-up to enterprise, guided by the fundamental goals…Better Decisions. Better Products. Better Product People.
Throughout the program, each mentor leads a conversation in an area of their expertise that is live streamed and available to both mentee and the broader product community.
The Junior Consulting Group and Pico Lantini: Masterplan Innovation powered b...Pico Lantini
The document outlines Steve Blank's Customer Development process which provides an alternative model to product development for startups. It consists of 4 steps: Customer Discovery to test business model assumptions, Customer Validation to build a repeatable sales process, Customer Creation to generate customer demand, and Company Building to scale the business. The model is presented as a circular process that focuses on learning through customer interactions rather than considering mistakes as failures.
The document discusses the importance of assessing the viability of a business model before making large investments. It describes the speaker's experience with his previous startup Closely, which was unable to find a viable go-to-market channel despite testing direct sales, agency partners, and large solution providers. The speaker advocates doing a thorough evaluation of the addressable market, competition, and industry structure to understand risks before pursuing investment. The presentation provides tips for optimizing messaging and sales processes through continuous testing and iteration.
Successful Marketing Starts with a StrategyKatie Spence
Once we’ve crafted a strategy for messaging to customers, Spry Ideas puts the nuts-and-bolts tactics in place that assure ROI on content dollars. Quite often we find companies have no clear objectives for their content and no way of measuring the ROI on content or social media spends. They just write more, tweet more, and hope for the best. Our well-executed content marketing strategies have clear goals and measurable returns. We also offer marketing automation solutions to provide enhanced efficiencies and expanded analytics for clients. You should know that your content is reaching buyers and impacting their buying journeys and we can show you how.
Welcome to the dynamic world of product marketing! Whether you're a seasoned marketing professional or just stepping into the captivating realm of marketing, understanding the nuances of product marketing is essential. In this article, we're going to take a deep dive into the heart of product marketing and explore what it entails.
Successful Marketing Starts With A StrategySpryIdeas
Of course, as any savvy marketer knows, in today’s world, nurturing or drip marketing can be a powerful tool to grow your business, which involves sending or “dripping” messages to customers or prospects over time. In other words, marketing ain’t what it used to be. In fact, some experts say marketing is evolving faster than universities can develop new courses to teach the next generation of marketers – they are essentially learning on the job. (http://bit.ly/2ghsK8H)
Marketing Involvement in New product development Nomanzakir127
The document discusses marketing's role in various stages of new product development. It finds that marketing is:
Very likely involved in product development strategy, test marketing programs, developing ads/promotions for launch, and somewhat likely involved in running the project team and monitoring success. The earliest stage marketing is involved is idea generation through gathering customer input and market research.
What makes a new business venture successful? This paper outlines the key questions every entrepreneur should ask and have answers for before they launch a new venture.
The document outlines 4 key challenges that sales leaders face: inconsistency in the sales process, lack of pipeline to hit quotas, low rep productivity, and lack of visibility. It provides strategies and investments to address each challenge, such as driving consistent messaging and actions through the sales process using software, defining responsibilities around pipeline generation and consistency, consolidating tools to reduce fatigue, automating tasks to increase capacity, and tracking key metrics like pipeline coverage and close rates for visibility. Implementing these approaches through a sales success platform can help transform a team into a high-performing revenue generating machine.
Sales-Leaders-Guide-to-Building-a-Revenue-Generating-MachineTaylor Miller
This document discusses four key challenges that sales leaders face: 1) inconsistency in the sales process, 2) lack of pipeline to hit quotas, 3) lack of rep productivity, and 4) lack of visibility. For the challenge of inconsistency, the document recommends driving consistent messaging and actions through the sales process using software. For the pipeline challenge, it recommends defining responsibilities for pipeline generation and consistency in pipeline generation strategies.
The document provides a worksheet to help businesses define their brand and marketing strategy through a discovery process. It includes questions to help outline the company, goals, target audience, brand perception, competitive positioning, strengths/weaknesses/opportunities, and a communication strategy. Completing the worksheet will provide a framework to improve the business model and guide marketing requirements and initiatives.
1. The document discusses Exemplar Strategic Solutions, a company that helps other organizations succeed through strategic planning and implementation.
2. Exemplar believes strategic success comes from answering five questions: what, why, where, when and how. Exemplar then helps clients implement solutions to these questions.
3. Exemplar offers services including business strategy, marketing and branding, human resources, retail strategy, market research and more to help organizations strengthen their position in the market.
This document discusses product strategy and new product development. It begins by defining what a product is and outlines the five levels of product potential: core, basic, expected, augmented, and potential. It then discusses elements of an effective product strategy, including defining the target market, product, value proposition, pricing, and distribution. The document emphasizes determining customer needs and problems to solve. It also discusses product mix and analyzing a company's ability to exploit opportunities in its industry or market. The goal of product strategy is to focus a company and guide new product releases.
Product Managers have to be great salesmen. Orangescrum is trusted by product managers to plan their product roadmap, groom the backlogs, run feature sprints and ship quality products.
This document summarizes key issues facing sales and marketing based on a survey of over 2,600 companies. It finds that many companies lack a clearly defined consultative sales process or don't follow the process they have. As a result, salespeople struggle to balance their time effectively and often give up too easily on prospects. The document recommends developing a formal, step-by-step sales process tailored to the company's products and customers. It also stresses the importance of implementing the process, involving customers in its development, identifying best practices from top performers, and providing competency development and ongoing monitoring to ensure the process works as intended.
The document discusses marketing and marketing goals. It defines marketing as the process of promoting products or services to potential customers. It also discusses the importance of setting specific, measurable, and realistic marketing goals that support overall business goals. Common types of marketing goals include financial goals like sales targets or non-financial goals like expanding into new markets. The document also outlines the traditional 4Ps of marketing (Product, Price, Place, Promotion) as well as an extended 7Ps framework that includes additional elements important for service-based businesses.
The most fatal mistake to avoid as a startupDavid Jackson
The document discusses the most fatal mistake startups can make, which is scaling prematurely before achieving product-market fit. It defines product-market fit as having customers that love the product and a plausible monetization strategy. Startups are warned to focus on building a great product and validating their business plan, rather than growing headcount or marketing, until these metrics are met. Common reasons for premature scaling are a lack of clear product metrics and pressure from investors, which founders can avoid by appointing metric owners and regularly communicating progress.
1. Stories of new products rarely have happy endings. For every blockbuster,
hundreds of innovations with great potential flame out.
We say “hundreds” because the exact number of new product failures is difficult to pinpoint.
Depending on the source, data suggest that anywhere from 67% to 95% of new products fail. Even
when a new product is not an outright failure, its launch often falls short of expectations, and
significant infusions of human and financial capital are required to achieve acceptable performance.
This issue triggered a four-year study to identify proven methods of securing both the launch and
the long-term sales success of new products. The study examined the product launch efforts of
companies in industries as diverse as aerospace and pharmaceuticals. The findings:
• Products and services should be developed
with an “outside-in” approach:
-‐ Pre-launch customer intelligence should
be focused on an exploration of customer
problems, instead of the current practice
of determining customer interest
• The “handoff” between Marketing and Sales
should include:
-‐ Identified customer populations
segmented by needs, not attributes
-‐ Customer insights the sales force can use
to challenge the customerʼs status quo
-‐ Sales materials that are problem-focused,
not product-focused
-‐ Tools that enable the sales force to monetize
the economic value of the solution and define the costs of maintaining the status quo
-‐ Sales simulations that motivate the sales force to uncover customer problems, rather than
present technological features
When these methods are applied successfully, the results are impressive: Companies that adopt
these suggestions achieve sales gains of up to 130% of goal and margin gains of 20% over
existing product lines.
The Problem-Focused, Customer-Centric Launch
5 Steps to New Product Success by Paul Panzl and Joanne
Steiner with Jaime Danielson