Marketing and Entrepreneurship 101
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1. The document discusses entrepreneurship and the importance of creating "remarkable" products that stand out and capture people's attention. It notes that average products no longer work for gaining customers. 2. A key idea is the "Purple Cow Theory" which says that a new product or idea must be so surprising and original that it spreads through word of mouth. It must stop people in their tracks and make them take notice. 3. The document uses examples like a man obsessed with his dog and a woman obsessed with mochi to show that everyone has the potential to be innovative in some niche area, and that is where opportunities lie for new products.
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Denis is a dynamic and results-driven Chief Information Officer (CIO) with a distinguished career spanning information systems analysis and technical project management. With a proven track record of spearheading the design and delivery of cutting-edge Information Management solutions, he has consistently elevated business operations, streamlined reporting functions, and maximized process efficiency.
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Date: May 29, 2024
Tags: Information Security, ISO/IEC 27001, ISO/IEC 42001, Artificial Intelligence, GDPR
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Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
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Marketing and Entrepreneurship 101
- 1. Entrepreneurship 101 ”Purple Cow Theory”
- 3. Toothpaste is a $2.4 billion market, and if our toothpaste could capture just 1% of that . . . I’m out. When Entrepreneurs Fail
- 5. So check it out, I’ve got this problem that no product on the market solves. When Entrepreneurs Succeed
- 7. All the ideas I’m about to share come from this guy. Seth Godin
- 9. Golden Rule: Remarkable products win
- 10. “Remarkable”
- 11. In the 1970s: Make average products for average people. Spend millions of dollars to interrupt people. They’ll buy my product.
- 13. Toothpaste is a $2.4 billion market, and if our toothpaste could capture just 1% of that . . . Worked in the 1970s
- 15. In the 1970s, it worked! Make average products for average people.
- 16. In 2020s: Everyone in the middle is an expert at ignoring you :(
- 24. =
- 25. =
- 34. One last thing . . .
- 35. One last thing . . . Almost everyone you know is an innovator sometimes. So are you.
- 36. Meet Mr. Normal. Average height, average family, average car, average clothes, . . . Off-the-charts obsessed with his dog. And his sister. She’s normal in every way. Normal car, normal music preferences . . . Except she’s obsessed with mochi. She’s tried every flavor from every brand, she makes her own, she even blogs about her mochi passion.
- 37. To Mr. Normal, BARK BOX is a purple cow. He wants to tell everyone about it. His sister is sick of hearing about it. Guess what she wants to talk about.
- 38. Summary: 1. Whatever you’re building, target weird, niche customers who might pay attention to something new and different. 2. Your new product must be so surprising and so original that people spread the word. (aka a purple cow)
- 39. Summary: 1. Whatever you’re building, target weird, niche customers who might pay attention to something new and different. 2. Your new product must be so surprising and so original that people spread the word (aka a purple cow)
- 40. Based on the book Purple Cow by Seth Godin