The document provides information about a market research and validation workshop for startups with new products. It discusses the purpose of conducting market research and validation for startups to develop and test their business model. The workshop will cover conducting secondary and primary market research in 7 steps across 2 stages to gather information about the company, product concept, business model, industry context, competitors, collaborators, and customers to validate the business model.
The document discusses customer discovery, which involves testing hypotheses about customers, problems, and solutions. It describes the four phases of customer discovery: authoring hypotheses, testing the problem hypothesis, testing the product hypothesis, and iterating or exiting. The goal is to stop selling and start listening to customers to test whether there is a problem and whether the product concept solves it before significant resources are invested.
This document provides an overview of the customer development process in four phases: 1) Author Hypothesis, 2) Test and Qualify Problem Hypothesis, 3) Test Product Hypothesis, and 4) Verify, Iterate and Expand. It discusses stopping selling and starting listening to customers to test hypotheses about the problem and product concept. Each phase involves activities like presenting problems to customers, gathering feedback, and verifying assumptions. The goal is to get outside the building, test ideas with customers, and iterate based on reality checks until deciding whether to iterate further or exit.
The document discusses customer development for high-tech enterprises. It covers customer discovery, which involves testing hypotheses about customers, problems, products, pricing and distribution. The key steps in customer discovery are authoring initial hypotheses, then testing the "problem" and "product" hypotheses by interacting with customers. The goal is to learn from customers to iteratively validate or invalidate the hypotheses through multiple cycles of testing and feedback. Critical hypotheses to formulate and test include those around products, customers/problems, distribution/pricing, demand creation, market type and competition.
The iNSIST project developed a data transfer application to export health data from state databases to a website. The project manager had over 12 years of experience and led several large projects. Key constraints included not being able to change the source or destination systems. Risks included having only part-time resources and technical challenges integrating different database types. Through a structured process and knowledgeable team, the project was successfully completed.
Describes how the different parts of the Marketing roles and functions serve a company and names what leaders must expect from each part of the whole. Talk originally done for a High-Tech Seminar course at Santa Clara Uinversity MBA program.
Cómo crear productos que no sean una porqueria feb 28 2013CompellingPM
Slides from the Software Guru Virtual Conference - presented on Feb 28, 2013. Most start-up companies begin with what they think is a brilliant idea and they immediately jump to building the product, and most of these products are crap. Even established companies sit around conference rooms dreaming of the next great product and end up wondering why their products also crap.
Creating innovative products that result in market breakthrough requires a process of multiple iterations of discovery that drive you deeper into understanding the market problems and how to solve them with a differentiated solution. Breakthrough products are based upon solving a significant Market Problem with a Product and Business Model that create a competitive advantage and a Market Strategy that motivates buyers to purchases your product.
In this session, you will learn this iterative discovery process that leads to breakthrough products and how to apply it to your own products (in startups as well as big enterprises).
The document discusses customer discovery, which involves testing hypotheses about customers, problems, and solutions. It describes the four phases of customer discovery: authoring hypotheses, testing the problem hypothesis, testing the product hypothesis, and iterating or exiting. The goal is to stop selling and start listening to customers to test whether there is a problem and whether the product concept solves it before significant resources are invested.
This document provides an overview of the customer development process in four phases: 1) Author Hypothesis, 2) Test and Qualify Problem Hypothesis, 3) Test Product Hypothesis, and 4) Verify, Iterate and Expand. It discusses stopping selling and starting listening to customers to test hypotheses about the problem and product concept. Each phase involves activities like presenting problems to customers, gathering feedback, and verifying assumptions. The goal is to get outside the building, test ideas with customers, and iterate based on reality checks until deciding whether to iterate further or exit.
The document discusses customer development for high-tech enterprises. It covers customer discovery, which involves testing hypotheses about customers, problems, products, pricing and distribution. The key steps in customer discovery are authoring initial hypotheses, then testing the "problem" and "product" hypotheses by interacting with customers. The goal is to learn from customers to iteratively validate or invalidate the hypotheses through multiple cycles of testing and feedback. Critical hypotheses to formulate and test include those around products, customers/problems, distribution/pricing, demand creation, market type and competition.
The iNSIST project developed a data transfer application to export health data from state databases to a website. The project manager had over 12 years of experience and led several large projects. Key constraints included not being able to change the source or destination systems. Risks included having only part-time resources and technical challenges integrating different database types. Through a structured process and knowledgeable team, the project was successfully completed.
Describes how the different parts of the Marketing roles and functions serve a company and names what leaders must expect from each part of the whole. Talk originally done for a High-Tech Seminar course at Santa Clara Uinversity MBA program.
Cómo crear productos que no sean una porqueria feb 28 2013CompellingPM
Slides from the Software Guru Virtual Conference - presented on Feb 28, 2013. Most start-up companies begin with what they think is a brilliant idea and they immediately jump to building the product, and most of these products are crap. Even established companies sit around conference rooms dreaming of the next great product and end up wondering why their products also crap.
Creating innovative products that result in market breakthrough requires a process of multiple iterations of discovery that drive you deeper into understanding the market problems and how to solve them with a differentiated solution. Breakthrough products are based upon solving a significant Market Problem with a Product and Business Model that create a competitive advantage and a Market Strategy that motivates buyers to purchases your product.
In this session, you will learn this iterative discovery process that leads to breakthrough products and how to apply it to your own products (in startups as well as big enterprises).
This captures 20 proven techniques to change the competitive equation, and some ways to think about how to apply that to your business situation. It's real-world examples provides a 1-stop shop for ways to think about your competitive play.
Anthem helps brands create compelling experiences through strategic design that builds businesses. They analyze categories, consumers and competitors to develop brand strategies informed by insights. Anthem then articulates the brand positioning and develops visual and verbal identities. They offer full design services from strategy to identity design, system design, and deployment including production and premedia. The goal is transformative brand ideas executed precisely to capture competitive advantages.
This document provides an overview of marketing concepts for bankers. It defines marketing as the process of planning and executing ideas, goods, and services to create exchanges that satisfy goals. Marketing management involves choosing target markets and growing customer value. The marketing mix consists of the 4 Ps - product, price, place, and promotion. Additional concepts covered include the scope of products and services that can be marketed, the 4Cs customer framework, and differences between sales and marketing. The document emphasizes understanding customer needs and creating value as core to a customer-centric approach.
Marketing involves planning and executing ideas, products and services to create value for customers. It includes conception, pricing, promotion and distribution to satisfy individual and organizational goals. Marketing management is the process of choosing target markets and creating, delivering and communicating superior customer value. The core concepts of marketing are understanding customer needs, wants, demands and desires and delivering products and services that provide utility, value and satisfaction.
1. Research can help diagnose issues and opportunities in the market through exploratory studies. This involves understanding consumer needs and behaviors.
2. Research is also important in the innovation management process. Developmental research informs the creation of new product concepts, while evaluative research tests concepts with consumers.
3. Once a product is launched, further evaluative research can measure its performance against competitors and objectives, informing corrective actions if needed.
Product Marketing: A Critical Role in the Marketing Value ChainTodd Ebert
How to align technical product management with product marketing and integrated marketing for maximum effectiveness. A framework from my 20+ years in B2B marketing at leading technology companies.
The document provides an overview of marketing concepts for bankers. It defines marketing as the process of planning and executing activities to create exchanges that satisfy individual and organizational goals. It discusses the marketing mix of product, price, place, and promotion. It also explains concepts such as the 4 Ps and 4 Cs frameworks, and differences between sales and marketing. The document emphasizes that understanding customer needs is key and outlines the marketing process from developing a business mission to implementation and evaluation.
Learn the fundamental of innovation concepts and foundation for value creation.
Learn Concurrent, reverse, value engineering concept and tools to facilitate successful innovation.
Best Practice Guide - Marketing Strategy - Competition Analysis By Wayne ChenWayne Chen
The document provides guidance on conducting a competition analysis as part of developing a marketing strategy. It outlines key objectives such as understanding the competitive landscape and developing a SWOT (strengths, weaknesses, opportunities, threats) analysis. The document then discusses in detail how to identify a company's strengths, weaknesses, opportunities, threats and compares these to competitors. It also describes different types of competitors a company may face such as direct, indirect, replacement or potential competitors. The overall aim is to help companies develop a plan to outperform competitors.
The document discusses operational excellence consulting and provides insights for better decision making. It discusses strategy management, project management, portfolio management, and detailed operations. Key aspects covered include selecting projects based on business cases, launching projects to achieve a desired future state, and leveraging strategic competitive advantages like patents.
This document discusses maximizing brand value through branding strategies and execution. It covers brand value, what makes a strong brand, and the process of maximizing brand value, which includes conducting a brand audit, developing a brand strategy, and executing the strategy through branding elements and management over time. The goal is to understand the current brand, identify strengths and weaknesses, and develop an optimal strategy and plan to strengthen the brand and grow its value.
The document discusses marketing solutions provided by launch120 for portfolio companies and startups. It outlines existing problems companies may have with limited marketing resources and experience. The target audience is identified as technology and healthcare companies that have undergone mergers or acquisitions or have raised over $250,000 in seed funding. Solutions proposed include conducting internal audits, developing marketing plans and strategies, providing messaging and copy writing services, and assisting with public relations, marketing communication plans, and strategic alliances. The document emphasizes assessing the fit between a company's resources and competencies and its marketing strategy.
Is Agile getting in your way, got you confused? Requirements vs. User Stories, Product Managers vs. Product Owners, MRDs vs Backlogs, Epics, Goals, Themes, all a mystery to you? How does Product Management's role change and how do we continue to be the "President of the product" as development moves to Agile or Scrum? Why are Product Managers so confused?
- The document discusses a win-loss analysis tool and methodology used to gain insights from past wins and losses to improve strategies and competitive positioning.
- It presents an example analysis of a company called "Plumbersoft" to identify key reasons for wins and losses. Areas of weakness included product breadth and vendor viability while strengths were customer engagement and proof of concept simulations.
- The analysis suggests ways Plumbersoft could strengthen areas of weakness like improving references and addressing concerns about product breadth to increase win rates.
This document provides an overview of marketing concepts and frameworks for bankers. It defines marketing as the process of planning exchanges to satisfy individual and organizational goals. Marketing management involves choosing target markets and creating, delivering, and communicating superior customer value. The marketing mix of product, price, place, and promotion are explained as the key elements to manage. Customer value, needs, and the marketing triangle of customers, company, and competition are core concepts. The document outlines the strategic planning process and components of a marketing plan to guide activities.
This document discusses how only a small percentage of companies achieve fast growth, breaking through barriers to the next stage of development. It identifies that ambitious growth targets, product and service innovation, strong international outlook, and partnerships are characteristics of fast growing companies. The primary condition for breakthrough is excellence in attitude, market insights, and managing the growth process through clear goals and an iterative feedback loop. Growth must be carefully managed through four steps, with a focus on execution to deliver results and outperform competitors. Different growth stages require focusing on different aspects such as validating the business concept, building management capabilities, or expanding production and sales.
This document provides guidance on writing a winning business plan. It emphasizes that the plan should clearly explain how the business will satisfy a market need or "pain" in a way that is superior to competitors. The plan should have a succinct executive summary that acts as a standalone mini-plan. It also stresses the importance of realistic financial projections and a business model that exploits the company's strengths. Overall, the document provides an outline and best practices for writing a plan that will attract investors by differentiating the business and demonstrating its prospects for success.
Product launches ppt @ bec doms mba bagalkot 2009Babasab Patil
The document discusses planning for successful company and product launches, noting that careful positioning strategy and evidence are important. It provides an overview of factors like identifying target customer segments and objectives, developing marketing materials and programs, and creating a launch timeline and checkpoints. The goal is to present a cohesive plan that establishes credibility and generates momentum for a new product or company.
Structuring for success - Developing a dynamic structure for your marketing t...B2B Marketing
With marketing evolving rapidly in response to adoption of emerging digital communication techniques and changing buyer behaviour, it's imperative that the skill set of the marketing function evolves too, to reflect this and to enable the brand to compete effectively in the digital age.
Furthermore, marketing must be able to concisely communicate and report on the value of what they are delivering for the organisation, to all departments and particularly to the board. Fresh from delivering Deloitte's Olympics sponsorship, brand and marketing director Annabel Pritchard will focus on how to build a marketing function that's fit for purpose and structured around delivering clear and measurable business benefits. This session will cover:
•Structuring the team - ensuring a dynamic mix of specialisms across the marketing function
•Managing and nurturing the marketing team - encouraging learning and skills development
•Raising the profile of marketing - reporting value to the Board and championing the value of marketing across the business.
“How to build and market a new product category” by Niklas Jansen, co-founder...TheFamily
Blinkist distills the key insights of 2 000+ bestselling nonfiction books into powerful 15-minute reads or listens for your mobile device.
One of the most exciting things you can do as an entrepreneur is create an entirely new product category. Some of the world’s most successful companies owe their success to the fact that they did not focus on incremental innovation but succeeded in creating, building, and converting people to a brand new market space ✈️
Creating a new category is incredibly hard. So the question is: how can you do it and make it stick? ✅
In this talk, Niklas provides actionable tips to help you:
- Build a team culture that focuses on learning
- Spot market opportunities and anticipate market changes
- Validate your ideas
- Convince users to adapt to this category and be catalysts for change
This captures 20 proven techniques to change the competitive equation, and some ways to think about how to apply that to your business situation. It's real-world examples provides a 1-stop shop for ways to think about your competitive play.
Anthem helps brands create compelling experiences through strategic design that builds businesses. They analyze categories, consumers and competitors to develop brand strategies informed by insights. Anthem then articulates the brand positioning and develops visual and verbal identities. They offer full design services from strategy to identity design, system design, and deployment including production and premedia. The goal is transformative brand ideas executed precisely to capture competitive advantages.
This document provides an overview of marketing concepts for bankers. It defines marketing as the process of planning and executing ideas, goods, and services to create exchanges that satisfy goals. Marketing management involves choosing target markets and growing customer value. The marketing mix consists of the 4 Ps - product, price, place, and promotion. Additional concepts covered include the scope of products and services that can be marketed, the 4Cs customer framework, and differences between sales and marketing. The document emphasizes understanding customer needs and creating value as core to a customer-centric approach.
Marketing involves planning and executing ideas, products and services to create value for customers. It includes conception, pricing, promotion and distribution to satisfy individual and organizational goals. Marketing management is the process of choosing target markets and creating, delivering and communicating superior customer value. The core concepts of marketing are understanding customer needs, wants, demands and desires and delivering products and services that provide utility, value and satisfaction.
1. Research can help diagnose issues and opportunities in the market through exploratory studies. This involves understanding consumer needs and behaviors.
2. Research is also important in the innovation management process. Developmental research informs the creation of new product concepts, while evaluative research tests concepts with consumers.
3. Once a product is launched, further evaluative research can measure its performance against competitors and objectives, informing corrective actions if needed.
Product Marketing: A Critical Role in the Marketing Value ChainTodd Ebert
How to align technical product management with product marketing and integrated marketing for maximum effectiveness. A framework from my 20+ years in B2B marketing at leading technology companies.
The document provides an overview of marketing concepts for bankers. It defines marketing as the process of planning and executing activities to create exchanges that satisfy individual and organizational goals. It discusses the marketing mix of product, price, place, and promotion. It also explains concepts such as the 4 Ps and 4 Cs frameworks, and differences between sales and marketing. The document emphasizes that understanding customer needs is key and outlines the marketing process from developing a business mission to implementation and evaluation.
Learn the fundamental of innovation concepts and foundation for value creation.
Learn Concurrent, reverse, value engineering concept and tools to facilitate successful innovation.
Best Practice Guide - Marketing Strategy - Competition Analysis By Wayne ChenWayne Chen
The document provides guidance on conducting a competition analysis as part of developing a marketing strategy. It outlines key objectives such as understanding the competitive landscape and developing a SWOT (strengths, weaknesses, opportunities, threats) analysis. The document then discusses in detail how to identify a company's strengths, weaknesses, opportunities, threats and compares these to competitors. It also describes different types of competitors a company may face such as direct, indirect, replacement or potential competitors. The overall aim is to help companies develop a plan to outperform competitors.
The document discusses operational excellence consulting and provides insights for better decision making. It discusses strategy management, project management, portfolio management, and detailed operations. Key aspects covered include selecting projects based on business cases, launching projects to achieve a desired future state, and leveraging strategic competitive advantages like patents.
This document discusses maximizing brand value through branding strategies and execution. It covers brand value, what makes a strong brand, and the process of maximizing brand value, which includes conducting a brand audit, developing a brand strategy, and executing the strategy through branding elements and management over time. The goal is to understand the current brand, identify strengths and weaknesses, and develop an optimal strategy and plan to strengthen the brand and grow its value.
The document discusses marketing solutions provided by launch120 for portfolio companies and startups. It outlines existing problems companies may have with limited marketing resources and experience. The target audience is identified as technology and healthcare companies that have undergone mergers or acquisitions or have raised over $250,000 in seed funding. Solutions proposed include conducting internal audits, developing marketing plans and strategies, providing messaging and copy writing services, and assisting with public relations, marketing communication plans, and strategic alliances. The document emphasizes assessing the fit between a company's resources and competencies and its marketing strategy.
Is Agile getting in your way, got you confused? Requirements vs. User Stories, Product Managers vs. Product Owners, MRDs vs Backlogs, Epics, Goals, Themes, all a mystery to you? How does Product Management's role change and how do we continue to be the "President of the product" as development moves to Agile or Scrum? Why are Product Managers so confused?
- The document discusses a win-loss analysis tool and methodology used to gain insights from past wins and losses to improve strategies and competitive positioning.
- It presents an example analysis of a company called "Plumbersoft" to identify key reasons for wins and losses. Areas of weakness included product breadth and vendor viability while strengths were customer engagement and proof of concept simulations.
- The analysis suggests ways Plumbersoft could strengthen areas of weakness like improving references and addressing concerns about product breadth to increase win rates.
This document provides an overview of marketing concepts and frameworks for bankers. It defines marketing as the process of planning exchanges to satisfy individual and organizational goals. Marketing management involves choosing target markets and creating, delivering, and communicating superior customer value. The marketing mix of product, price, place, and promotion are explained as the key elements to manage. Customer value, needs, and the marketing triangle of customers, company, and competition are core concepts. The document outlines the strategic planning process and components of a marketing plan to guide activities.
This document discusses how only a small percentage of companies achieve fast growth, breaking through barriers to the next stage of development. It identifies that ambitious growth targets, product and service innovation, strong international outlook, and partnerships are characteristics of fast growing companies. The primary condition for breakthrough is excellence in attitude, market insights, and managing the growth process through clear goals and an iterative feedback loop. Growth must be carefully managed through four steps, with a focus on execution to deliver results and outperform competitors. Different growth stages require focusing on different aspects such as validating the business concept, building management capabilities, or expanding production and sales.
This document provides guidance on writing a winning business plan. It emphasizes that the plan should clearly explain how the business will satisfy a market need or "pain" in a way that is superior to competitors. The plan should have a succinct executive summary that acts as a standalone mini-plan. It also stresses the importance of realistic financial projections and a business model that exploits the company's strengths. Overall, the document provides an outline and best practices for writing a plan that will attract investors by differentiating the business and demonstrating its prospects for success.
Product launches ppt @ bec doms mba bagalkot 2009Babasab Patil
The document discusses planning for successful company and product launches, noting that careful positioning strategy and evidence are important. It provides an overview of factors like identifying target customer segments and objectives, developing marketing materials and programs, and creating a launch timeline and checkpoints. The goal is to present a cohesive plan that establishes credibility and generates momentum for a new product or company.
Structuring for success - Developing a dynamic structure for your marketing t...B2B Marketing
With marketing evolving rapidly in response to adoption of emerging digital communication techniques and changing buyer behaviour, it's imperative that the skill set of the marketing function evolves too, to reflect this and to enable the brand to compete effectively in the digital age.
Furthermore, marketing must be able to concisely communicate and report on the value of what they are delivering for the organisation, to all departments and particularly to the board. Fresh from delivering Deloitte's Olympics sponsorship, brand and marketing director Annabel Pritchard will focus on how to build a marketing function that's fit for purpose and structured around delivering clear and measurable business benefits. This session will cover:
•Structuring the team - ensuring a dynamic mix of specialisms across the marketing function
•Managing and nurturing the marketing team - encouraging learning and skills development
•Raising the profile of marketing - reporting value to the Board and championing the value of marketing across the business.
“How to build and market a new product category” by Niklas Jansen, co-founder...TheFamily
Blinkist distills the key insights of 2 000+ bestselling nonfiction books into powerful 15-minute reads or listens for your mobile device.
One of the most exciting things you can do as an entrepreneur is create an entirely new product category. Some of the world’s most successful companies owe their success to the fact that they did not focus on incremental innovation but succeeded in creating, building, and converting people to a brand new market space ✈️
Creating a new category is incredibly hard. So the question is: how can you do it and make it stick? ✅
In this talk, Niklas provides actionable tips to help you:
- Build a team culture that focuses on learning
- Spot market opportunities and anticipate market changes
- Validate your ideas
- Convince users to adapt to this category and be catalysts for change
In order to craft your value proposition, you need to make certain assumptions about your target market. It is important to validate these assumptions through market research techniques and analysis.
In this lecture, market research experts introduce the principles of market research and analysis, including analytical frameworks such as the PEST analysis and Porter’s Five Forces.
The document is a letter written in 2070 describing a dystopian future where water has become extremely scarce. The author, who is 50 but looks 85 due to health problems from dehydration, recalls how plentiful water used to be. Now, people are only allowed half a glass of water per day and the landscape has turned to desert. Life is difficult and unhealthy without sufficient access to water.
This document defines market segmentation and discusses its purpose and types. Market segmentation involves dividing a market into subgroups of individuals or organizations that have similar needs, characteristics, or behaviors. The key purposes of segmentation are to increase marketing efficiency, maximize resources, select the most profitable segments, and find markets with limited competition. There are several ways to segment a market, including by geographic, demographic, psychographic, and behavioral factors. The document also outlines the segmentation process and levels of segmentation from mass to niche marketing.
This document discusses various concepts related to corporate social responsibility towards competition, including unfair competition, antitrust laws, cartels, intellectual property rights, and determining a just price. It provides examples of unfair trade practices like price fixing between competitors and abusing market dominance. The document also discusses anti-trust laws and how they prohibit practices like price fixing, abuses of market power, and agreements between competitors to restrict output.
Laptop industry analysis porter pestel By Saurabh MalooSaurabh Maloo
The document discusses launching a new laptop brand called Alacrity in India. It analyzes the laptop industry and market in India. Key points include:
- Alacrity laptops will be launched by SPMDS Technologies to diversify into the laptop segment.
- The Indian laptop market size is around 4.3 million units annually worth 150 billion INR.
- Porter's Five Forces analysis finds moderate threats from substitutes and suppliers, but strong bargaining power from large corporate buyers.
- Opportunities exist due to growing laptop needs, strong IT sector, and large Indian market, but threats include competition and price pressures.
Case study on Physical devices used in Computer forensics.Vishal Tandel
This document provides information on various physical devices used in computer forensics, including forensic workstations (FRED, FRED DX, FREDDIE), imaging bays (UltraBay 3d), forensic laptops (FREDL), and forensic networks (FREDC). It describes the components, specifications, and pricing of these systems, which are designed for acquiring, examining, and storing digital evidence in a forensically sound manner. Forensic write blockers are also briefly mentioned.
Cluster analysis for market segmentationVishal Tandel
Cluster analysis is a technique used to segment markets by grouping consumers into clusters based on their characteristics. It aims to maximize similarity within clusters and dissimilarity between clusters. Marketers can use cluster analysis to discover distinct groups of customers and develop targeted marketing programs for each group. Common variables used to segment markets include demographics, psychographics, geographics, product benefits, and behavior.
The document discusses new product development, defining it as the process of bringing a new product to market. It outlines the key stages in new product development, including idea generation, concept development and testing, business analysis, beta testing, technical implementation, commercialization, and pricing. The goal is to develop an understanding of customer needs and market opportunities before significant resources are invested in a new product.
The document discusses the new product development process. It begins by listing 5 categories of new products and 10 considerations for evaluating new product ideas. It then discusses that innovation and new products are important for winning in the marketplace. The remainder of the document outlines the 7 stages of new product development: 1) idea generation, 2) screening, 3) concept development and testing, 4) prototype development, 5) market testing, 6) commercialization, and 7) business analysis. Key aspects of each stage are described.
The document summarizes a workshop on idea management and evaluating business opportunities. It discusses:
1) The entrepreneurial process including opportunity discovery, evaluation, assembling resources, and exploiting opportunities.
2) Criteria for evaluating opportunities such as unique value proposition, revenue model, industry analysis, risks, and team capabilities.
3) Tools for industry and idea evaluation including market research, competitor analysis, and SWOT analysis. Examples are provided to demonstrate how to apply these evaluation frameworks.
Stefano Mizio innovits workshop on business model Stefano Mizio
This document summarizes a workshop on business models held on February 2nd, 2012 by Stefano Mizio. The workshop discussed how business plans differ from business models, and that startups focus on searching for a repeatable business model through iteration rather than planning. It was noted that business models can be described using nine building blocks including customer segments, value propositions, channels, customer relationships, revenue streams, key resources, key activities, key partnerships, and cost structure. The workshop emphasized testing business model hypotheses through customer interaction.
The document discusses the new product development process. It involves 7 key steps: 1) idea generation, 2) idea screening, 3) concept development and testing, 4) marketing strategy development, 5) business analysis, 6) product development, and 7) test marketing. The goal is to create new products that offer benefits to customers and satisfy market needs. Various techniques are used to evaluate ideas and concepts at each step to select the most viable new product options.
From a concept to viable business — How do we know if we are building the rig...Marko Taipale
This document discusses building the right product by focusing on problem/solution fit, business model/market fit, hypothesis/experiment fit, and user needs/service fit. It emphasizes the importance of validating your concepts by talking to customers and measuring results rather than assuming you know requirements. The key steps outlined are drawing a business model canvas, stating hypotheses to test, and getting customer feedback through discovery and validation. Pivoting based on learnings is important rather than prematurely scaling execution without verifying the business model. Overall the message is to interface business, design and engineering to create successful businesses by making the business the driver.
Creating innovative products involves understanding customer needs and developing products that meet those needs better than competitors. There is a 12-step new product development process that includes idea generation, screening, testing, market research, development, and launch. Understanding customers and the market is critical for success. Tools like buyer utility maps, pricing corridors, and business models can help reduce risk and increase innovation by ensuring products deliver value and are profitable. Applying strategies like Six Sigma can also improve the development process.
This document provides guidance on developing a market entry strategy. It discusses key considerations such as understanding customer needs, differentiating your product or service, identifying target industry segments, and building competitive advantages. The document emphasizes planning all aspects of market entry including analyzing the market and competition, setting objectives, outlining assumptions, and defining growth strategies over time. The goal is to help organizations plan their path from their current state to their desired future state when entering new markets.
New product development (NPD) describes bringing a new product to market and involves overcoming challenges like defining specifications, managing resources, and coordinating groups. The NPD process includes stages like idea generation, screening, concept development and testing, marketing strategy development, business analysis, product development, test marketing, and commercialization. Implementing a structured NPD process helps businesses focus investment on promising projects and shorten the time from idea to revenue.
Disruptive Innovation
Overcoming the market with more than just lower pricing
Iyad Mourtada
New-Product Development
Reasons for new product failure include overestimating market size, poor design, incorrect positioning, wrong timing, pricing too high, ineffective promotion, management influence, high development costs, and competition. The new development process involves idea generation, idea screening, concept development and testing, and marketing strategy development. Types of test markets are standard, controlled, and simulated. Product life-cycle strategies must understand the current business model and look for signals to reinvent the model when needed.
A presentation of the search for Product-Market Fit with the principles, practices and processes that lead to it, from the Lean-Startup and Design Thinking perspective
Product innovation presentation by architArchit Sharma
This document discusses product innovation and the new product development process. It defines product innovation as the creation and introduction of new or improved goods and services. It describes different types of new products and outlines the typical steps in the new product development process, including idea generation, concept development and testing, marketing strategy development, business analysis, product development, test marketing, and commercialization. Key aspects of marketing strategy, packaging, positioning, common product failures, and approaches to commercialization are also summarized.
This document discusses various topics related to marketing industrial products, including:
- Product positioning involves measuring customer perceptions of a product's attributes relative to competitors. Repositioning may involve emphasizing important attributes or better communicating advantages.
- New technologies often face a "chasm" between early adopters and mainstream customers. Crossing the chasm requires winning niche customers with 100% solutions to prove the technology for pragmatists.
- The "bowling alley strategy" aims to leverage success in one niche to spread adoption to surrounding segments, while the "main street strategy" pushes for rapid distribution to drive the product mainstream before it becomes a commodity.
1) Testing a business concept through prototypes, controlled launches, and focus groups allows entrepreneurs to evaluate customer needs and adjust their product before a full market launch.
2) It is important to test how well a product's benefits align with customer needs and identify any risks to address before commercializing.
3) Concept testing should challenge the defined opportunity and product features to determine if the original idea truly matches market demand.
10 steps to product market fit - Ash MauryaStartupfest
Once you launch your MVP, the feedback starts rolling in. While listening to your customers is key, you have to know how. In this session, Ash Maurya will explain why simply listening to customer feedback or relying on metrics is NOT enough. He’ll outline a 10 step process for iterating your product to market fit.
This document provides an overview of key concepts for developing marketing and sales strategies for technology startups. It discusses defining an attractive target market and developing a marketing plan that identifies specific activities to generate sales leads and build brand awareness. It also covers understanding the sales process, from initial prospecting to closing deals. The importance of defining each stage of the sales process and aligning marketing tools to support the process is emphasized.
This document discusses strategies for small businesses, including imitating existing successful business models with minor innovations. It describes conducting industry and competitor analyses to understand markets. Businesses should select a strategy of differentiation, low cost, or focus on a niche. Finally, the document outlines frameworks for analyzing competitive advantage, including value chain analysis, Porter's five forces, and VRIO analysis to leverage resources for sustained advantage.
Is there a market for my new product nf programme 2012 mirc athlone
1. New Frontiers Programme
MIRC, Athlone 3rd July 2012.
Is There A Market For My New
Product?
MARKET RESEARCH & VALIDATION WORKSHOPS
Greg Byrne
2. The Venture's Journey | Business Growth Stages
PUSH PHASE PULL PHASE
1. Venture Market 6. Brand Position
Analysis 7. Key Account Management
2. Pitch 8. New Product Development
3. Personal Selling
4. Promotion
5. PR
3. Is There A Market For My New Product?
Purpose of Market Research & Validation for a Start Up
1)develop the ‘business model’ for how the new company and new
product creates, delivers and captures value and then
2) test that business model in the market place to proof its operability
and profitability.
4. Is There A Market For My New Product?
Purpose of Market Research & Validation for a Start Up
Business Model – Information, Insight, Data to be sourced, analysed and
tested...
1. The New Product
•The ‘good bits’, the ‘bad bits’ and ‘improve its’ in qualitative research
•The ‘interest’, ‘believability’ and ‘purchase intention’ in quantitative research
2. The Buyer
•Who are they? Profile them.
•Where are they?
•What job do they want to get done?
•How many of them are there?
5. Is There A Market For My New Product?
Purpose of Market Research & Validation for a Start Up
Business Model – Information, Insight, Data to be sourced, analysed and
tested...
3. The Value Proposition
•For (define the target audience and industry) who have (define the big
problem) we have (solution description-what we offer) that delivers (this
big advantageous benefit –over and above competitor solutions)
•Here is our track record/credentials (why you should believe us)
4. The Channels
•How do buyers want to be reached (made aware) and interacted with
(information, advice, service and sales)?
5. Customer Relationship
•What relationship are you establishing with each segment – personal,
automated, acquisitive, retentive, etc?
6. Is There A Market For My New Product?
Purpose of Market Research & Validation for a Start Up
Business Model – Information, Insight, Data to be sourced, analysed and
tested...
6. Revenue Streams
•What are buyers really willing to pay?
•Transactional? Recurring?
7. Key Resources
•What competencies, assets and resources underpin your Business Model?
8. Key Activities
•What key activities do you need to perform well?
•Which ones are crucial?
7. Is There A Market For My New Product?
Purpose of Market Research & Validation for a Start Up
Business Model – Information, Insight, Data to be sourced, analysed and
tested...
9. Key Partners
•Who do you need to rely on to operate your business model?
•Who can leverage it?
10. Cost Structure
•What is the resulting cost structure of your business model?
•What key elements drive your cost structure?
8. Is There A Market For My New Product?
Market Research & Validation
in 7 Steps and
2 Stages
9. Is There A Market For My New Product?
S
Stage 1 Secondary Market Research. Steps 1-5
Company Context
Product Concept
Business Model
Competitor Collaborator
Customer
10. Is There A Market For My New Product?
S
Stage 1 Secondary Market Research. Steps 1-5
Company Context
Key Company Industry , Markets,
Resources, Products
Assets, Product Concept Drivers
Competencies Business Model Challenges
Projections
Competitor Collaborator
Customer
Who are they? The supply chain
Their products partners
Strengths Who are they?
Weaknesses Buying objectives
Buying criteria, process
11. Is There A Market For My New Product?
S
Stage 2 Primary Market Research Steps 6 & 7
Company Context
Type of company Target Market(s)
Key competencies
Brand Proposition, Brand values
Product Concept Product Categories
Revenues
Organisation Structure Business Model Channels
Cost Drivers
Competitor Collaborator
Customer
Key Partners
Differentiated offering
Target Audience(s)
Relationship requirements
WTP
12. Is There A Market For My New Product?
Step 1: define your Business competencies and your New Product
& Business Model (concept)
COMPANY
1. Business and Competencies
2. Product Concept &
3. Business Model (version 1)
.
13. Is There A Market For My New Product?
Step 1: define your Business competencies and your New Product
& Business Model (concept)
1.Business and Competencies
COMPANY
1. Draw your flower, depicting the core competence, the product applications and
markets for those applications. Rank the markets/applications , specifying 1,2
and 3.
Pages 10 and 11 of Guide
14. Is There A Market For My New Product?
DRAW YOUR ‘FLOWER’ POWER
Write your ‘product’ down on the first petal…then forget
What is it that you/team have or do really well…skill…
- Write it down in the centre of your flower
- Fill the other petals with other applications that could be made with your core
- Now rank the petals according to these factors:
- importance of competency to application market
- growth rate of application market
- competitive intensity and competitors
- resource requirement
- Prioritise the petals
- List the top 10 buyers in each priority application market.
FLOWER EXERCISE TEMPLATE PAGE 30
15. Is There A Market For My New Product?
Step 1: define your Business competencies and your New Product
& Business Model (concept)
2. Product Concept (version 1)
Title/name - XXXXXXXXXX
Who? – The Target Buyer; who will buy, influence?
Why? - Motivation for purchase/use. Why will it be bought and used?
When and where? - Usage Occasion. Time and location; relative to other events?
Buyer Insight- What is the penetrating buyer understanding driving the idea? (The
“Aha!”)
What is it?- Idea description, Proposition, Benefit. What it is, what it does, and how does
it improve the life of the buyer?
RTB- Reason to believe the benefit
Packaging Format- Format, size, material, function, (e.g. opening, drinking, dispensing,
resealing, reusing, stacking, disposing, etc)
Other Notes .................................................
Pages 12- 13 of Guide
16. Is There A Market For My New Product?
WHY BUSINESSES BUY
•Provide their own goods or services more cost effectively
•Save money
•Cement relationships
•Position themselves strategically
•Improve public relations
•Solve problems
More rational, logical
17. Is There A Market For My New Product?
Why Consumers buy
•Meet biological needs
•Increase security
•Gain status or recognition – to belong
•Live out fantasies
•Reduce anxiety or other strong emotions
•Save time or money
•Solve problems
can be irrational, more emotional
18. Is There A Market For My New Product?
Step 1: define your Business competencies and your New Product
& Business Model (concept)
3. Business Model
description of how your venture ‘creates, delivers and captures value’:
• The customers / segments you will serve
• The value proposition you offer them
• The channels through which you will reach and interact with them
• The relationships you will establish with them
• The revenue stream(s) of what customers are willing to pay , once off / recurring
• The key resources and assets that underpin your venture and business
• The key activities that are crucial to operate
• The key partners / collaborators you need to rely on
• The cost structure and key elements that drive costs
19. Is There A Market For My New Product?
Step 2: draw up the ‘product category map’ for the market that
you are going to enter
CONTEXT
4. Source Information from the available industry reports, magazines,
websites, form 10ks, IPO Documents, competitor websites...
5. Draw the ‘product category map’
6. Identify PEST trends that could / will impact
COLLABORATOR
7. Who else is needed to make, distribute, fund, approve, install, sell,
service products in the market?
20. Is There A Market For My New Product?
Step 2: draw up the ‘product category map’ for the market that
you are going to enter
CONTEXT
4. Gather Information from the available industry reports, magazines,
websites, form 10ks, IPO Documents, competitor websites...
Secondary Market Research is where you start a start up!
Secondary research means using published information such as industry profiles, trade journals,
newspapers, magazines, census data, and demographic profiles and talking to people who
know about the industry, markets and products you are considering.
This type of information is available in public libraries, industry associations, chambers of
commerce, from vendors who sell to your industry, and from government agencies .
21. Is There A Market For My New Product?
Step 2: draw up the ‘product category map’ for the market that
you are going to enter
4. Gather Information from the available industry reports, magazines,
websites, form 10ks, IPO Documents, competitor websites...
Available, current known facts about your industry, market, products, providers and customers:
eg
• What is the total size of your market?
• Current demand in target market.
• Trends in target market—growth trends, trends in consumer preferences, and trends in product
development.
• Provider profiles
• Product features, positionings
• Customer profiles and buying behaviours
• Business models
22. Is There A Market For My New Product?
Step 2: draw up the ‘product category map’ for the market that
you are going to enter
4. Gather Information from the available industry reports, magazines,
websites, form 10ks, IPO Documents, competitor websites...
SOURCES OF SECONDARY MARKET RESEARCH - INDUSTRY /TRENDS ANALYSIS
• Listed Companies ‘form 10K & 10Qs’ from their websites
• http://www.magportal.com/c/bus/ind/ (search engine for magazine articles)
• Marketresearch.com (Aggregated multi-sourced industry and markets analysis)
• Researchandmarkets.com (world’s largest market research resource)
• Mintel.com (consumer, media and market research)
• Keynote.co.uk (business and market intelligence)
• BizJournals.com (industry specific trends)
• Companiesandmarkets.com (400,000 market reports, company reports and company
financials)
• Aberdeenreport.com (benchmark industry and process reports)
• Strategy-business.com (industry and issue research and analysis)
APPENDIX 3 Page 32
23. Is There A Market For My New Product?
Step 2: draw up the ‘product category map’ for the market that
you are going to enter
4. Gather Information from the available industry reports, magazines,
websites, form 10ks, IPO Documents, competitor websites...
SOURCES OF SECONDARY MARKET RESEARCH
MARKET RESEARCH DATABASES
• Analysys –Billing & Customer Care, Service & Delivery Platform Strategies, CSP Operator
Strategies, Telecoms Software Strategies. http://www.analysysmason.com/
• BCC Research www.bccresearch.com Multisector with emphasis on materials, food,
enviro, electronics, pharma, etc
• Business Insights www.globalbusinessinsights.com. Reports covering the healthcare,
food, technology and energy sectors.
• Datamonitor www.datamonitor.com . Multisector, in-depth market research news and
reports covering pharmaceuticals, energy, financial services, etc.
24. Is There A Market For My New Product?
Step 2: draw up the ‘product category map’ for the market that
you are going to enter
4. Gather Information from the available industry reports, magazines,
websites, form 10ks, IPO Documents, competitor websites...
SOURCES OF SECONDARY MARKET RESEARCH
COMPANY DATABASES
• Kompass www.kompass.com Global database of companies by sector, including
manufacturers, distributors and services
• FoodLine Web source of information for the food and drinks industry. They include
Market, Science and News journals, books & patents.
• MEED Projects www.meedprojects.com Project pipeline information covering the Middle
East
• OneSource http://www.onesource.com/ US company directory and financials. Also
Freedonia market profiles for US on a number of sectors.
• Emerging Medical Technologies Database http://lifescienceintelligence.com/emt.php
Database only.
• BioPharm Insight http://www.biopharminsight.com/ includes the entire drug discovery
and development pipeline, approved drugs, licensing deals, pharmaceutical
sales/projections, medical devices, management contacts and more.
25. Is There A Market For My New Product?
Step 2: draw up the ‘product category map’ for the market that
you are going to enter
4. Gather Information from the available industry reports, magazines,
websites, form 10ks, IPO Documents, competitor websites...
SOURCES OF SECONDARY MARKET RESEARCH
KEY NEWSLETTERS
• Clinica (World Medical Technology News) http://www.clinica.co.uk/home/
• Scrip (World Pharmaceutical News) http://www.scripnews.com/home/
• MedTech Insight www.medtechinsight.com (access to mag articles only, not
reports)
• AnimalPharm http://www.animalpharmnews.com/
• Informa (2 newsletters Media + Comm)
• MEED www.meed.com (Middle East business intelligence)
26. Is There A Market For My New Product?
Step 2: draw up the ‘product category map’ for the market that
you are going to enter
4. Gather Information from the available industry reports, magazines,
websites, form 10ks, IPO Documents, competitor websites...
SOURCES OF SECONDARY MARKET RESEARCH
GOOGLE
KEYWORD SEARCHES
GOOGLE ALERTS
Pages 16 -17 of the Guide
27. Is There A Market For My New Product?
Step 2: draw up the ‘product category map’ for the market that
you are going to enter
4. Gather Information from the available industry reports, magazines,
websites, form 10ks, IPO Documents, competitor websites...
EXAMPLE Wound care product
GOOGLE SEARCHING ‘Wound Care’
The Explosive Growth of the Wound Care Market
We spoke with Nerac Analyst, Ron Sills, about the explosive growth we are seeing in the wound care
market, the factors driving the growth, the latest products as well as how the medical and
healthcare industries are attempting to reduce the costs associated with wound care.
“Industry leaders like 3M, Johnson & Johnson, Convatec, Coloplast, Closure Medical, Smith &
Nephew continue to develop innovative solutions for wound care as evidenced by their patent
portfolios and product approvals”
28. Is There A Market For My New Product?
Step 2: draw up the ‘product category map’ for the market that
you are going to enter
4. Gather Information from the available industry reports, magazines,
websites, form 10ks, IPO Documents, competitor websites...
FORM 10K INSIGHTS
Wound Care
...physicians and nurses are critical to the adoption and use of advanced medical systems, a major
element of the sales force's responsibility is to educate and train these medical practitioners in
the application of our products, including the specific knowledge necessary for optimal clinical
outcomes and reducing the cost of patient care.
...we employ approximately 200 specialists who consult with our customers regarding the often
demanding and complex paperwork required by Medicare and private insurance companies. In
fulfilling the paperwork requirements, these specialists enhance the overall productivity of our
sales force.
29. Is There A Market For My New Product?
Step 2: draw up the ‘product category map’ for the market that
you are going to enter
4. Gather Information from the available industry reports, magazines,
websites, form 10ks, IPO Documents, competitor websites...
Form 10K - Stratsys
Our sales organization is responsible for the sale of our products on a worldwide basis and for the
management and coordination of our growing network of authorized resellers. Our direct sales
force consists of salespersons who work throughout North America, Europe and in parts of the
Asia-Pacific region. Our application engineers provide professional services through pre-
sales support and assist existing customers so that they can take advantage of our latest
print materials and techniques to improve part quality and machine productivity. This
group also leverages our customer contacts to help identify new application opportunities
that utilize our proprietary processes and access to our parts printing service,
3DpropartsTM. As of December 31, 2010, our worldwide sales, application and service staff
consisted of 159 employees.
30. Is There A Market For My New Product?
Step 2: draw up the ‘product category map’ for the market that
you are going to enter
5. Draw the ‘product category map’
Product Market categories are created by needs, buying power, and products to satisfy needs.
For each customer need, there are typically several products available
NEED PRODUCT TYPE MARKETS BRANDS
Pages 14-15 of the Guide
31. ‘
Is There A Market For My New Product?
Step 2: draw up the ‘product category map’ for the market that
you are going to enter
Ocean
Oil, Gas &
Electricity
Biomass
Energy
Displacement
Geothermal
Wind
Viessman
Solar PV
Ritter
Solar Thermal
Day Light Thermal Thermo Photonics
Energy Co.
32. Is There A Market For My New Product?
Step 2: draw up the ‘product category map’ for the market that
you are going to enter
6. Identify PEST trends and changes that could / will impact
• Change in Technology
• Change in government regulations Demographic
• Change in the Economy s
• Change in your Industry
• Change in Social and culture life (style, mores)
Page 18
Mobilit Recession
y Online
33. Is There A Market For My New Product?
Step 2: draw up the ‘product category map’ for the market that
you are going to enter
SOURCES OF PEST INFORMATION
• Trendhunter.com
• Trendwatching.com
• Springwise.com (new ideas, products and businesses)
• JWTintelligence.com
Fundamental changes and trends = change = opportunity
34. Is There A Market For My New Product?
Step 2: draw up the ‘product category map’ for the market that
you are going to enter
Fundamental changes and trends = change = opportunity
– Mobile Money: The digital wallet became a reality for more
consumers in more markets,
• although we’ll see more tech advances in 2011 that will help drive this trend further
into the mainstream. In 2010, among other things, the practice of texting donations
became widespread after the Haiti earthquake, an updated PayPal app allowed users
to exchange money by bumping phones, and various new tools turned phones into
credit card terminals.
35. Is There A Market For My New Product?
Step 2: draw up the ‘product category map’ for the market that
you are going to enter
Fundamental changes and trends = change = opportunity
75,000 babies...
• That is the number of babies it’s expected will be born in Ireland this year. We have
the highest fertility rate in Europe, and the number of families with young children is
expected to grow continuously over the rest of the decade.
• Ireland’s 20-something population peaked in ‘07
• It is the 30-something population that is now causing the baby boom
• Families are fashionable again after a decade of youth-driven individualism
Focus on mums: they make most of the decisions about spending,
savings & borrowing -for their families as well as for themselves
36. Is There A Market For My New Product?
Step 2: draw up the ‘product category map’ for the market that
you are going to enter
Fundamental changes and trends = change = opportunity
1,230,000 getting older
• People over the age of fifty –all 1.2 million of them –make up over a quarter
of Ireland’s total population (and over a third of the adult population). Their
numbers will grow steadily over the next ten years, as will those of over 50s
throughout the world.
• There are approximately as many 50-somethings as teenagers in Ireland
• Over 50s tend to have the lowest levels of debt across the age groups
• Our cultural obsession with youth will increasingly give way to a new
appreciation for maturity
37. Is There A Market For My New Product?
Step 2: draw up the ‘product category map’ for the market that
you are going to enter
Fundamental changes and trends = change = opportunity
1,940,000 online lives....
• Never has a product or service been adopted by so many people in Ireland
so quickly. We’re talking Facebookof course. Nearly two thirds of internet
users –that’s over 4 in 10 adults –now uses Facebook. And the number is
still rising.
• Internet usage in Ireland has continued to rise steadily throughout the
recession –from just 4 in 10 adults in 2006 to nearly 8 in 10 today.
• Irish consumers are spending a growing share of their time and money
online.
• The wider cultural consequences are only emerging: expect new sources of
trust and authority to emerge post the recession.
38. Is There A Market For My New Product?
Step 2: draw up the ‘product category map’ for the market that
you are going to enter
Fundamental changes and trends = change = opportunity
80,000,000 euro
• That’s the approximate amount in euro Irish consumers are expected to
spend this year. They’ll probably save another €10 billion on top of that.
Consumers spent the same amount back in 2003-4. But they won’t spend it
on the same things this year. That’s the challenge if you want to get more
than your fair share of the cake.
• The consumer zeitgeist has been permanently changed by the recession –
recovery won’t mean a return to the way things were
• Consumers will remain focused on value –but that doesn’t mean a focus just
on price. New priorities –driven by new needs and circumstances –will
provide growth for some
39. Is There A Market For My New Product?
Step 2: draw up the ‘product category map’ for the market that
you are going to enter
COLLABORATOR
7. Who else is needed to make, distribute, fund, approve, install,
sell, service products in the market?
40. Is There A Market For My New Product?
Step 2: draw up the ‘product category map’ for the market that
you are going to enter
COLLABORATOR
7. Who else is needed to make, distribute, fund, approve, install, sell,
service products in the market?
THE TOTAL PRODUCT VALUE....
• The physical product itself
• The brand name
• Company reputation
• Pre-sale activities ( eg education, demonstration by salespeople)
• Post sale activities ( eg installation, technical support)
• Maintenance, repair, warranty
• Financing
• Convenience
• Availability
• References
• Reputation of retail outlet
• Re-seller, partners
41. Steps 1-2 Where are we now?
Business Model Concept
Market
Size
Trends
Growth Product
Products Concept Template
Brands
Competitors
Collaborators Core Competence
Flower Template
+ PEST Impact -- PEST Impact
42. Is There A Market For My New Product?
Step 3: for your ‘product type solution’ category, identify the
existing brand leaders and go to each ‘brand leaders’ website
and extract how they describe their ‘corporate positioning’ and
also their ‘product positioning’.
COMPETITORS
Focus on the top three.
43. Is There A Market For My New Product?
Step 3: for your ‘product type solution’ category, identify the
existing brand leaders and go to each ‘brand leaders’ website
and extract how they describe their ‘corporate positioning’ and
also their ‘product positioning’.
COMPETITORS
Example...for your ‘product type solution’ category, identify the existing brand
leaders
NEED PRODUCT TYPE SOLUTION BRANDS
Nutraceutical/ Health Brain- Memory Nawgan
Drinks NeuroSonIQ
Benevia
Guide Page 19
44. Is There A Market For My New Product?
Step 3: for your ‘product type solution’ category, identify the
existing brand leaders and go to each ‘brand leaders’ website
and extract how they describe their ‘corporate positioning’ and
also their ‘product positioning’.
COMPETITORS
8. Identify their corporate positioning and their product positioning
9. Check against the Business and Competencies you defined in Step 1.
Where do you fit? You can’t be, or offer the exact same!
Guide Page 19-20
45. Is There A Market For My New Product?
Step 3: for your ‘product type solution’ category, identify the existing
brand leaders and go to each ‘brand leaders’ website and extract how
they describe their ‘corporate positioning’ and also their ‘product
positioning’.
COMPETITORS
8. Identify their corporate positioning and their product positioning
Corporate Product Key Customer
Positioning Positioning Values
Nawgan - Cognitive Nawgan is an all-natural
brain fitness beverage
Beverages - Based developed by a
on Science. What neuropsychologist ,
to drink when you formulated to sharpen
want to think the mind. It's a non-
carbonated refresher for
the mind that features a
patent-pending blend of
ingredients combined
and formulated to
improve memory and
cognition.
Age +30.
46. Is There A Market For My New Product?
Step 3: for your ‘product type solution’ category, identify the
existing brand leaders and go to each ‘brand leaders’ website
and extract how they describe their ‘corporate positioning’ and
also their ‘product positioning’.
COMPETITORS
9. Check against the Business and Competencies defined in Step 1.
Where do you fit?
You can’t be, or offer the exact same!
47. Is There A Market For My New Product?
Step 4: for each ‘corporate and product positioning’ identified in a
competitor’s website, list out the ‘key customer values’
CUSTOMER
10. What are they offering in benefits to customers? What customer
benefits do they talk about?
11. Identify the top, recurring (amongst existing competitors) key
customer values
12. Check against the Product Concept (version 1) in Step 1.
Guide Page 21
48. Is There A Market For My New Product?
Step 4: for each ‘corporate and product positioning’ identified in a
competitor’s website, list out the ‘key customer values’
CUSTOMER
10. What are they offering in benefits to customers? What customer
benefits do they talk about?
Corporate Product Positioning Key Customer Values
Positioning
Nawgan - Cognitive Nawgan is an all-natural brain fitness
beverage developed by a
Brain Science,
Beverages - Based on neuropsychologist (that’s a brain Natural Support,
Science. What to drink when scientist to you and me), formulated No Artificial,
you want to think to sharpen the mind. It's a non-
carbonated refresher for the mind that No preservative,
features a patent-pending blend of Low Calorie,
ingredients combined and formulated
to improve memory and cognition. Doctor Developed
Age +30. Caff / Decaff
49. Is There A Market For My New Product?
Step 4: for each ‘corporate and product positioning’ identified in a
competitor’s website, list out the ‘key customer values’
11. Identify the top, recurring (amongst existing competitors) key
customer values
Corporate Product Positioning Key Customer Values
Positioning
Nawgan - Cognitive Nawgan is an all-natural brain fitness Brain Science, Natural Support,
beverage developed by a No Artificial, No preservative,
Beverages - Based on neuropsychologist (that’s a brain Low Calorie,
Science. What to drink when scientist to you and me), formulated Doctor Developed
you want to think to sharpen the mind. It's a non-
Caff / Decaff Organic
carbonated refresher for the mind that
features a patent-pending blend of Kosher Herbal
ingredients combined and formulated Antoxidant
to improve memory and cognition. Anti Ageing,
Age +30. Busy Life,
Convenient
50. Is There A Market For My New Product?
Step 4: for each ‘corporate and product positioning’ identified in a
competitor’s website, list out the ‘key customer values’
11. Identify the top, recurring (amongst existing competitors) key
customer values
Corporate Product Positioning Key Customer Values
Positioning
Leadership, Innovation, Operational reliability Gap
Quality, Long service life
Size/Scale, High efficiency
Heritage Reduced heat loss
and Environment. Heat utilization and
transfer Real World Performance
Straight forward Proof
installation
Elegant design
Low Maintenance
51. Is There A Market For My New Product?
Step 4: for each ‘corporate and product positioning’ identified in a
competitor’s website, list out the ‘key customer values’
CUSTOMER
12. Check against the Product Concept (version 1) in Step 1.
52. Is There A Market For My New Product?
Step 5: test the key customer values offered by your product and
company against those offered by your competitors
CUSTOMER
13. Are you offering value that is not being offered by competitors
or are you offering better values than they are?
This gives you a potential market differentiated positioning.
53. Market Research & Validation in Seven Steps
Step 5: Test the key customer values offered by your product and
company against those offered by your competitors and then write out
your market differentiated positioning statement
Brain Science, Who? - is your target customer ?
Natural Support,
No Artificial, Why?- will your product be bought and why will it be used?
No preservative,
Low Calorie, When & where?- would your product be used by the
buyer?
Doctor Developed
Caff / Decaff Buyer Insight- the essential insight you have into the
Organic buyers mind and need for your product?
Kosher
Herbal What is your new Product?- proposition, features,
advantages ,benefits
Antioxidant
Anti Ageing, Reason To Believe- your product will deliver those
Busy Life, advantages and benefits?
Convenient
54. Is There A Market For My New Product?
Step 5: test the key customer values offered by your product and
company against those offered by your competitors
13. Are you offering value that is not being offered by competitors
or are you offering better values than they are?
Write out your market differentiated positioning statement
POSITIONING STATEMENT
Define and describe:
1. Target Audience
2. Market Product Category
3. Unique, Relevant Valued Benefit
4. Proofs
55. Is There A Market For My New Product?
Step 5: test the key customer values offered by your product and
company against those offered by your competitors. Write out
your market differentiated positioning statement
13. Are you offering value that is not being offered by competitors or are
you offering better values than they are? This gives the potential
market differentiated positioning
1. TARGET AUDIENCE
Target Audience Example
• The end-user markets are residential householders and commercial buildings
occupiers.
• Intermediary markets are specifiers (architects, mechanical & electrical contractors,
air conditioning contractors, construction firms), renewable energy firms (solar
consultancies, integrators and installers), housing associations, utilities and
investors (ESCos)
56. Is There A Market For My New Product?
Step 5: test the key customer values offered by your product and
company against those offered by your competitors. Write out
your market differentiated positioning statement
13. Are you offering value that is not being offered by competitors or are
you offering better values than they are? This gives the potential
market differentiated positioning
1. TARGET AUDIENCE
CUSTOMER PROFILES
Describe your ideal customer or client by answering the questions below. The
questions take you from specific characteristics to a definition of a market or
market segment:
– How will they use your product or service?
– Why might they buy it?
– What will they pay for it?
– Are they men, women, or both?
– What is their age group?
– What is their approximate average income?
57. Is There A Market For My New Product?
Step 5: test the key customer values offered by your product and
company against those offered by your competitors. Write out
your market differentiated positioning statement
13. Are you offering value that is not being offered by competitors or are
you offering better values than they are? This gives the potential
market differentiated positioning
1. TARGET AUDIENCE
CUSTOMER PROFILES
– What is their employment type (blue-collar, white-collar, managerial, professional,
homemaker, etc.)?
– What is their lifestyle (personality, self-image , etc.)?
– Where are they located (local, statewide, national and international)?
– How many of them are there?
– How many do you expect to get as customers?
– What percentage of the market do you expect to get?
– What’s the growth trend of your target market?
– What are their buying habits?
58. Is There A Market For My New Product?
Step 5: test the key customer values offered by your product and
company against those offered by your competitors. Write out
your market differentiated positioning statement
13. Are you offering value that is not being offered by competitors or are
you offering better values than they are? This gives the potential
market differentiated positioning
1. TARGET AUDIENCE
CUSTOMER PROFILES
– What magazines do they read?
– What organizations do they belong to?
– What conventions or events do they attend?
– Is there a directory that lists them?
– Are there mailing lists of them available?
– What is the best way to reach them?
59. Is There A Market For My New Product?
Step 5: test the key customer values offered by your product and
company against those offered by your competitors. Write out
your market differentiated positioning statement
13. Are you offering value that is not being offered by competitors or are
you offering better values than they are? This gives the potential
market differentiated positioning
1. TARGET AUDIENCE
BUSINESS-BUYER PROFILES
Describe your ideal customer or client by answering the questions below. The
questions take you from specific characteristics to a definition of a market or
market segment:
– How will the firm benefit from buying your product or service?
– How much are the benefits worth to them – in savings, increased market share,
profile, etc.
– Who buys? Who influences? Who facilitates? Who decides? What buying
procedures are in place? What controls?
– What level of service do they expect?
60. Is There A Market For My New Product?
Step 5: test the key customer values offered by your product and
company against those offered by your competitors. Write out
your market differentiated positioning statement
13. Are you offering value that is not being offered by competitors or are
you offering better values than they are? This gives the potential
market differentiated positioning
1. TARGET AUDIENCE
BUSINESS-BUYER PROFILES
Describe your ideal customer or client by answering the questions below. The
questions take you from specific characteristics to a definition of a market or
market segment:
– How are they used to buying? Salesperson? Directly? Other?
– How is the transaction started, facilitated, completed?
– What industry norms govern the transaction? Discounts, payment terms, warranties,
types of contracts.
– Where are they located (local, national and international)?
61. Is There A Market For My New Product?
Step 5: test the key customer values offered by your product and
company against those offered by your competitors. Write out
your market differentiated positioning statement
13. Are you offering value that is not being offered by competitors or are
you offering better values than they are? This gives the potential
market differentiated positioning
1. TARGET AUDIENCE
BUSINESS-BUYER PROFILES
– What piece of the market are you aiming for?
– How many of target firms are there?
– How many do you expect to get as customers?
– What’s the growth trend of your target market?
– What are their buying habits?
– What organizations do they belong to?
62. Is There A Market For My New Product?
Step 5: test the key customer values offered by your product and
company against those offered by your competitors. Write out
your market differentiated positioning statement
13. Are you offering value that is not being offered by competitors or are
you offering better values than they are? This gives the potential
market differentiated positioning
1. TARGET AUDIENCE
BUSINESS-BUYER PROFILES
– What conventions or events do they attend?
– What places and sources , online and off line do they use to find out about products,
developments, innovations?
– Is there a directory that lists them?
– Are there mailing lists of them available?
– What is the best way to reach them?
63. Is There A Market For My New Product?
Step 5: test the key customer values offered by your product and
company against those offered by your competitors. Write out
your market differentiated positioning statement
13. Are you offering value that is not being offered by competitors or are
you offering better values than they are? This gives the potential
market differentiated positioning
2. WHAT IS THE PRODUCT CATEGORY
Product Category
Within the Oil/Gas/Electricity Energy Displacement Market, we are a
new product type solution – A Day Light Thermal Energy System
for heating & cooling and for generating electricity.
64. Is There A Market For My New Product?
Step 5: test the key customer values offered by your product and
company against those offered by your competitors. Write out
your market differentiated positioning statement
13. Are you offering value that is not being offered by competitors or are
you offering better values than they are? This gives the potential
market differentiated positioning
3. WHAT IS THE UNIQUE, RELEVANT VALUED BENEFIT
• Define what you provide/will provide
– As simply and concisely as possible, emphasizing function, not form
• Describe your customer and their big problem
– As precisely as possible, emphasizing why they care, -- ie., the type and
magnitude of the problem they have that you solve
• Define precisely the value you provide to your customer in terms of benefits they will
receive
– Quantifying your claim when possible, especially for businesses, and supporting
it with testimony
65. Is There A Market For My New Product?
CUSTOMER
VALUE PROPOSITION
• For (define the target audience and industry) who have (define
the big problem) we have (solution description-what we offer)
that delivers (this big advantageous benefit –over and above
competitor solutions)
• Here is our track record/credentials (why you should believe us)
66. Is There A Market For My New Product?
Step 5: test the key customer values offered by your product and
company against those offered by your competitors. Write out
your market differentiated positioning statement
13. Are you offering value that is not being offered by competitors or are
you offering better values than they are? This gives the potential
market differentiated positioning
4. PROOFS
Performance, quality & lifecycle accredited: by TUV Rhineland to EN12975:2006; by
Applied Research Laboratories in Australia/ New Zealand to AS/NZS 4234:2008 and
AS2712:2007 exacting standards, by SEAI (administered by Gastech UK) to the SEI
Harp Database and by SRCC to USA/Canada standards.
67. Is There A Market For My New Product?
Step 5: test the key customer values offered by your product and
company against those offered by your competitors. Write out
your market differentiated positioning statement
13. Are you offering value that is not being offered by competitors or are
you offering better values than they are? This gives the potential
market differentiated positioning
4. PROOFS
The first DTES in Europe to gain the new Global Mark of Energy Efficiency ‘ENERGY
STAR’ Accreditation- designating it as a top 25% most energy efficient solar hot water
system.
The only DTES in Europe, USA and China to hold both the AS/NZS 4234:2008 and the
ENERGY STAR Mark.
Under the TRNSYS performance measurement standard used by the US Government in
2011
- Our DTES is 95% more powerful than the best German CPC
vacuum collector. You need twice as many of their collectors.
68. Is There A Market For My New Product?
Steps 1-5 At this point you will have collected and developed
much of the information and insight on how your venture
‘creates, delivers and captures value’:
• The new product concept
• The customers / segments you will serve
• The value proposition you offer them
• The channels through which you will reach and interact with them
• The relationships you will establish with them
• The revenue stream(s) of what customers are willing to pay , once off /
recurring
• The key resources and assets that underpin your venture and business
• The key activities that are crucial to operate
• The key partners / collaborators you need to rely on
• The cost structure and key elements that drive costs
69. Is There A Market For My New Product?
Step 6: Draw up your Primary Market Research Strategy and
prepare the Research Materials
PRIMARY MARKET RESEARCH
1. Research Strategy
2. Areas & Questions to explore
3. Materials to be used
70. Is There A Market For My New Product?
Step 6: Draw up your Primary Market Research Strategy and
prepare the Research Materials
1. Research Strategy
Qualitative Market Research
Depth Interviews to clarify and define the agenda of investigation for focus groups
consisting of target audiences.
Focus Groups of 8-10 prospective customers, competitor customers and non-
customers.
Panel of Experts: six to ten ‘experts’ in roundtable interactive discussion or interviewed
individually about the future drivers and direction of your market and industry and
responding to your proposed new product and customer relationship concepts.
Quantitative market research
Omnibus Survey question(s) to size the ‘who’, ‘where’, ‘when’, ‘how many’ and , interest
and purchasing intentions with the results projected onto larger populations.
Market segmentation research study to size and define the key market segmentations
by description and response bases.
71. Is There A Market For My New Product?
Step 6: Draw up your Primary Market Research Strategy and
prepare the Research Materials
1. Research Strategy
To present the new ‘product concept and the ‘business model’ to target market samples,
with the objective(s) of understanding (qualitative data):
.....the current provider and product category,
.....it’s importance to buyers and sellers,
.....how and when interest/purchase is triggered,
.....the current provider brand familiarity and favourability perceptions and associations,
.....the current buying process/steps/channels,
.....past experiences in purchases and outcomes,
.....criteria used to select ,
.....the perceived significant product segmentations ,
.....the significant buyer market segmentations
72. Is There A Market For My New Product?
Step 6: Draw up your Primary Market Research Strategy and
prepare the Research Materials
1. Research Strategy
Ascertain the first impressions (qualitative)of the new product and corporate provider and
capture the ‘hot’ buy/sell features and benefits ( the good bits)
• Test the hypothesised ‘brand personalities’ ( name, logo, tag lines, screens)
• Invite improvement ideas ( the improve its)
• Make sure we know the negative perceptions ( the bad bits)
• Initial testing on pricing
• Get Market ‘verbatims’
73. Is There A Market For My New Product?
Step 6: Draw up your Primary Market Research Strategy and
prepare the Research Materials
1. Research Strategy
In addition to seeking qualitative information and data, the research strategy will aim to
quantify a number of key elements of the ‘business model’:
- Importance of the ‘problem’ in the market
- Levels of ‘interest’ in the solution offered
- Levels of ‘credibility’ perceived in the solution offered
- Willingness to pay a price
- Numbers in the interested market
- Demographic and geographic profile
74. Is There A Market For My New Product?
Step 6: Draw up your Primary Market Research Strategy and
prepare the Research Materials
2. Areas & Questions to be explored
75. Is There A Market For My New Product?
Step 6: Draw up your Primary Market Research Strategy and
prepare the Research Materials
2. Areas & Questions to be explored
CURRENT BRANDS IN THE MARKET CATEGORY
• Ask what provider brands are known?
• If you met this brand at a party – how would it introduce itself? What would it say about itself?
What would it wear?
• Show different product providers’ logos. What is your opinion of each of these companies?
• What are the first thoughts that come to mind when you see each one?
• What sorts of products do they sell?
• What products could they sell?
• What types of people buy from them?
• How would you group them?
• Who are the key competitors?
• Why?
• What are their key sales and service activities?
76. Is There A Market For My New Product?
Step 6: Draw up your Primary Market Research Strategy and
prepare the Research Materials
2. Areas & Questions to be explored
CURRENT MARKET PRODUCTS
• Probe ownership of product x type and other category products.
• Which product x types have you heard of?
• Probe full list to gauge understanding of products available.
• What product x’s do you own?
• What was the trigger to purchase?
• What others did you consider?
• What are your main reasons for having a product x?
• Are certain product x’s more suitable/better than others to meet your objectives?
• What were the main things you were looking for when you bought the product?
• Who did you buy it from?
• Why?
77. Is There A Market For My New Product?
Step 6: Draw up your Primary Market Research Strategy and
prepare the Research Materials
3. Materials to be used
78. Is There A Market For My New Product?
The Product Explained in the following Promise
paragraph sequence
Consumer Insight
should express the core idea simply and
succinctly with as few adjectives as possible
The Insight should be an expression of the need
derived from consumer understanding Proposition
a clear statement of the offer Image / Visual of the
should be clear and descriptive Reason to Believe New Product Concept
can be practical or emotional or a mixture of
both.
End Benefit
builds the idea and understanding of it.
79. Is There A Market For My New Product?
Step 7: Execute the Primary Market Research and Interrogate the
Results to Adjust / Refine your New Product Concept and the
Business Model.
80. Is There A Market For My New Product?
Flavoured bite-size pizza balls Evening in pub?
Recloseable
When you want something more than a packet Foil pack
of crisps, these bite-size pizza balls are the
satisfying snack you’re looking for.
Key differentiator
Tasty little balls of pizza dough - with fresh Same
herbs, chopped sun-dried tomatoes or even size as
cheese and onion – [that give you the taste Grab bag
of real pizza whenever you want.]
Key benefit
They are easy to eat and make a great snack
anytime.
No greasy fingers
Can we register?
Range
• Herby Pizza Bites Max 3cm
• Tomato Pizza Bites for kids
bite-size
• Cheese And Onion Pizza Bites