From Napkin to             Revenue™Transform You Ideas into Products Customers Want™                                      ...
High New Product Failure Rate• Robert G Cooper: One out of four development projects  succeeds commercially. (i.e., 75% fa...
Why Do So Many Products Fail?1. Idea to Product                                Copyright © 2012, Lûcrum Marketing, All Rig...
Why Do So Many Products Fail?2. Not many people want to buy the solution.3. Solution is not profitable.4. Unable to commun...
Keys to Successful Products• Compelling Market Opportunity   – Big painful issues   – That many in your target market   – ...
Model for Discovery                                                                           Four Key Steps of Discovery ...
Four Key Pillars of Discovery• Market Problem – if you’re not solving a problem, there is  no need for a product!• Product...
Market Problem• Need or want that is unsatisfied• Something someone wants to do and can’t• Something someone wants to do b...
Areas of Needs & Wants            Source: http://www.teach-nology.com/tutorials/teaching/whatareneeds.html                ...
Henry Ford’s Quote        “If I had asked people what they wanted,           they would have said faster horses.”         ...
What Do They Need (To Do)?“People dont want to buy aquarter-inch drill. Theywant a quarter-inch hole!”–Theodore Levitt    ...
Product• “Anything that can be offered to someone to satisfy a need  or want” (Kotler – Marketing Management)• Delivers a ...
Business Model• How will the company make a profit by selling the product?   – How solution will be delivered   – Cost to ...
Business Model Examples                          Copyright © 2012, Lûcrum Marketing, All Rights Reserved
Market Strategy• Who will buy and why  – Target market  – Buyers & user profiles  – Problems to solve  – Positioning in th...
Model for Discovery                                                           Four Key Steps of Discovery                 ...
Thank You!                      Tom Evans                   Lûcrum Marketing             tevans@lucrum-marketing.com      ...
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From Napkin to Revenue - Introduction

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The From Napkin to Revenue Workshop is a 6 hour workshop that teaches a market-driven discovery and validation process that will enable companies to create products and services that customers want to buy. In this workshop, the participants will learn a step-by-step process that enables them to:
Discover and validate market needs that customers are willing to pay to solve;
Discover and validate product concepts that customers will buy;
Discover the right market strategy & tactics that helps you get your first customers (the ultimate in validation).

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From Napkin to Revenue - Introduction

  1. 1. From Napkin to Revenue™Transform You Ideas into Products Customers Want™ Tom Evans Lûcrum Marketing @compellingmktr "From Napkin to Revenue" and "Transform Your Ideas into Products That Customers Want" are Trademarks of The Lûcrum Group, Inc. Copyright © 2012, Lûcrum Marketing, All Rights Reserved
  2. 2. High New Product Failure Rate• Robert G Cooper: One out of four development projects succeeds commercially. (i.e., 75% failure rate)• Jack Gordon: In the world we live in, somewhere between 80 percent and 95 percent of new product introductions fail. Copyright © 2012, Lûcrum Marketing, All Rights Reserved
  3. 3. Why Do So Many Products Fail?1. Idea to Product Copyright © 2012, Lûcrum Marketing, All Rights Reserved
  4. 4. Why Do So Many Products Fail?2. Not many people want to buy the solution.3. Solution is not profitable.4. Unable to communicate a clear reason to purchase the solution. Copyright © 2012, Lûcrum Marketing, All Rights Reserved
  5. 5. Keys to Successful Products• Compelling Market Opportunity – Big painful issues – That many in your target market – Are willing to pay to solve• Compelling Solution Discovery – Differentiated Value Proposition + – Profitable business model – Time to market Validation• Compelling Market Strategy – Motivates target market – To solve problem with your solution Copyright © 2012, Lûcrum Marketing, All Rights Reserved
  6. 6. Model for Discovery Four Key Steps of Discovery Validate Validate Validate Validate Hypothesis Opportunity Solution Market Market Problem Four Key Pillars of Discovery Product Business Model Market Strategy Valid Market Ready to Validation Valid Hypothesis Opportunity Launch Market GrowthProduct-to-Market is a trademark of Lûcrum Marketing Copyright © 2012, Lûcrum Marketing, All Rights Reserved
  7. 7. Four Key Pillars of Discovery• Market Problem – if you’re not solving a problem, there is no need for a product!• Product – How do you solve the market problem in a valuable and differentiated manner?• Business Model – How do you deliver the benefit and profitably capture the value?• Market Strategy – Who is going to buy it and why? Copyright © 2012, Lûcrum Marketing, All Rights Reserved
  8. 8. Market Problem• Need or want that is unsatisfied• Something someone wants to do and can’t• Something someone wants to do better• Compelling Market Problems – Big problem, many have, urgent to solve, willing to pay• Our challenge – Defining the solution before we understand market problem to be solved Copyright © 2012, Lûcrum Marketing, All Rights Reserved
  9. 9. Areas of Needs & Wants Source: http://www.teach-nology.com/tutorials/teaching/whatareneeds.html Copyright © 2012, Lûcrum Marketing, All Rights Reserved
  10. 10. Henry Ford’s Quote “If I had asked people what they wanted, they would have said faster horses.” Copyright © 2012, Lûcrum Marketing, All Rights Reserved
  11. 11. What Do They Need (To Do)?“People dont want to buy aquarter-inch drill. Theywant a quarter-inch hole!”–Theodore Levitt Copyright © 2012, Lûcrum Marketing, All Rights Reserved
  12. 12. Product• “Anything that can be offered to someone to satisfy a need or want” (Kotler – Marketing Management)• Delivers a benefit to buyer/user• Can be goods or services Copyright © 2012, Lûcrum Marketing, All Rights Reserved
  13. 13. Business Model• How will the company make a profit by selling the product? – How solution will be delivered – Cost to deliver solution – How customers will be acquired – Cost to acquire customers – Who is going to pay and how much Often is inextricably linked to product Can be a point of differentiation or competitive advantage Copyright © 2012, Lûcrum Marketing, All Rights Reserved
  14. 14. Business Model Examples Copyright © 2012, Lûcrum Marketing, All Rights Reserved
  15. 15. Market Strategy• Who will buy and why – Target market – Buyers & user profiles – Problems to solve – Positioning in the market – Competitive advantages – Key messages to communicate Copyright © 2012, Lûcrum Marketing, All Rights Reserved
  16. 16. Model for Discovery Four Key Steps of Discovery Validate Validate Validate Validate Hypothesis Opportunity Solution Market Market Problem Four Key Pillars Of Discovery Product Business Model Market Strategy Valid Market Ready to Validation Valid Hypothesis Opportunity Launch Market Growth Copyright © 2012, Lûcrum Marketing, All Rights Reserved
  17. 17. Thank You! Tom Evans Lûcrum Marketing tevans@lucrum-marketing.com +1.512.961.5267 @compellingmktr Copyright © 2012, Lûcrum Marketing, All Rights Reserved

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