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1、E102:MarketingFundamentalsJanuary22,2003EntrepreneurialFellowshipProgram:RoderickDickIndustrialRelationsCenter:ChrisHalliwellFundamentalMarketingQuestions2WhenEvaluatingaNewBusiness1.Haveyoufoundarealmarket,solvinganimportantandhighpriorityproblemforcustomerswillingtoinvestinsolvingtheprob
2、lem?2.Areyoudifferentiatedfromdirect/nearlydirectcompetitorsinawaythatjustifiesthehassleoflookingatanewvendorand/orthecostofswitchingtoanewtechnology/product?3.Howbigwillyourbusinessbein5years?Whatwillyouselltohowmanycustomersofwhattype,andwhatwillthesecustomerspayforyoureachofyouroffering
3、s?4.Whataretherequiredservices,resourcesandthirdpartyrelationshipsnecessarytoattract,sellto,andsupportthesecustomers?3HowtoSpeedDateaMarketDoInitialGenerateGenerateMarketHypothesesPlanDetailsAnalysis&Test(10DraftTheThroughUsing??MarketingVisionariesDialogWithwww&plusenduserPlanTargetCallst
4、osurveyPartners&2or3option)CustomersExperts1month2-3months1-2weeksCOMPLETETHEMARKETINGPLAN?4“That’sCool!”vs.“GottaHaveIt!”•5Consumersvs.Channels6Competitorvs.Partner7FYI:MarketingPlanOutline•ExecutiveSummary•MarketAnalysis–Trends:problemstobesolvedandhowthingsgetdonetoday,alternativetechno
5、logies,marketstructureandinfluencers,segments,drivers/barriersforchangeandgrowth–Positioning:targetmarket/customer“map”,technologyvalue,differentiators,solutionrequirements/businessmodelopportunities•CompetitiveAnalysis–Advantages/disadvantages:wholeproductSWOTanalysisandstrategytobeatdire
6、ctcompetitors,priceandbusinessmodelassumptions–TAM/SOM:Totalavailable,3-yrgrowthrates,andshareofmarketanalysisindollarsandunits8PlanOutline,continued…•ProductStrategy–Coreproductdescription:Functions/featuresandmetricsrequiredtosupportendusevaluepoints,senseofproductlineextensionoptions–An
7、cillaryproductcontent:Relatedhardware/software,interfaces,tools,othercontentrequiredbybusinesspartnersandkeycustomers–Selectionoftargetpartnersanddefinitionofsupportrequirements•SalesStrategy–Purchaseprocess:economicbuyer,influencers,customer’sevaluation,desig
