With the pace of innovation today, ideas have become cheaper than ever. Everybody has them. Your big idea in a crowded market is worth nothing... until you figure out how to competitively differentiate your product and connect with a market that cares.
MaRS Advisor Peter Evans discusses marketing. This session will first focus on the unique marketing challenges faced by early stage technology companies. It will also provides proven and practical principles for visioning new products, breaking into a market and building a sustainable business venture.
In this session you learn:
* Why marketing effectiveness often matters as much today as pure product innovation
* How to identify key market trends and better connect with the real needs of potential customers
* How to use “value innovation” methods to competitively design a product as faster, cheaper and better
* Pragmatic ways to position your product and quickly build market acceptance
* How effective marketing must connect to focused business development and sales channel efforts
Whether you're just starting out or fine tuning your marketing strategy, this session describes how marketing plays a key role in your venture.
Contemporary Economic Issues Facing the Filipino Entrepreneur (1).pptx
Ideas to income: An introduction to Marketing (Part 1)
1. Ideas to Income
An Introduction to Marketing (Lecture 1)
MaRS Entrepreneurship 101
January 13, 2010
Peter Evans
Advisor, MaRS Venture Group
pevans@marsdd.com
HP Garage, Silicon Valley
14. The Innovator’s Paradox
Not all technologies can spark the creation of a business
Technology Product Company Business
Source: Neoset Ventures
15. The Market is Not your Customer
People or organizations with needs and budgets are…
Market Problem Buyer Budget
Source: Neoset Ventures
16. Connecting Ideas to Income
Aligning Capability with Opportunity
Capability
Technology Product Company Business
1
Opportunity 2
Value 3
Proposition Distribution 4
Strategy Financial
Model
Market Problem Buyer Budget
Opportunity Source: Neoset Ventures
19. Maslow’s Hierarchy of Needs
morality,
creativity,
spontaneity,
problem solving,
lack of prejudice,
Self-Actualization acceptance of facts
self-esteem, confidence,
achievement, respect of others,
Esteem respect by others
friendship, family, sexual intimacy
Love/Belonging
security of body, of employment, of resources, of morality,
of the family, of health, of property
Safety
breathing, food, water, sex, sleep, homeostasis, excretion
Physiological
40. Total economic value
created by VCs.
Total amount of
money raised
by VCs.
SOURCE: NVCA / Thompson Reuters Exit Poll
SOURCE: NVCA / Thompson Reuters VC Fundraising Q3
55. Innovation: Thinking Strategically
10 ways to break from the herd
Finance Process. Offering Delivery
Business Networking Enabling Core Product Product Service Channel Brand Customer
model process process performance system experience
Core competence planning: A lot of the competition at the center
Offering &
process
Innovation planning: Many big breakthroughs found at the edges
Business Customer
model experience
Source: Doblin Analysis (Division of Monitor Group)
56. Innovation Payoff
A herd of companies clustered in the centre
Finance Process. Offering Delivery
Business Networking Enabling Core Product Product Service Channel Brand Customer
model process process performance system experience
Hi Volume of innovation efforts
Last 10 years
Lo
Source: Doblin Analysis (Division of Monitor Group)
57. Innovation Payoff
Value Creation opportunities are found at the edges
Finance Process. Offering Delivery
Business Networking Enabling Core Product Product Service Channel Brand Customer
model process process performance system experience
Relative Value Created
last 10 years
Hi Less than 2% of projects produce
More than 90% of value…
There is a fundamental shift in value
creation as a result of innovation at the
edges
Lo
Source: Doblin Analysis (Division of Monitor Group)