Invention to Venture Marketing and Selling Your Stuff © 2005 NCIIA and Grayhead Associates All Rights Reserved

Invention to Venture

Marketing and Selling Your Stuff

© 2005 NCIIA and Grayhead Associates All Rights Reserved


Start with a strategic approach

Defining the organization’s business, mission, and goals

Identifying and framing organizational opportunities

Formulating product-market strategies

Budgeting marketing, financial and production resources

Developing reformulation and recovery strategies


Some hard work on opportunity analysis

Industry analysis/trends

Competitive analysis

Company analysis

Details on how strengths/core competencies will be applied

to achieve the mission and goals identified

Customer analysisOverview - Who are the customers, needs to be satisfied


Goals CEO T/O S/W

Strategy Alternatives

ChoiceProcedures

Evaluation control

planning

decidingexecuting

Marketing Strategic is a dynamic process

vision

Product Price

Distribution Communications

Marketing Strategy Mix

Personal selling

Advertising

Sales promotion

Public relations

New media/internet

Market penetration

Market development

Product development

Diversification

SWOT analysis


Products

Existing New

Exi

stin

g Market

Penetration Product

Development

Mar

kets

New

Market Development

Diversification


5 interrelated questions about selling your stuff

• What are you selling?

• Who are you selling it to?

• Why will they buy it from you?

• How will you sell it to them?

• When will you sell it to them?


What are you selling?

• Knowledge/expertise • Technology• Product • Service• System • Solution• Entertainment, celebrities, events, etc


Who are you selling to?

• Organizations

• Individual consumers/users

• Channels

• Some or all of the above

(The supply chain)


Who are you selling to?

• Positioning – Low cost supplier (Wal-Mart)– High priced spread/luxury (Rolls

Royce)– Technology/performance,

quality,value (Bose)



Selling to organizations (B to B)segmented by

• Industry• Size• Function• Level and/or type of individual(s)

making or influencing the purchasing decision

• A combination of these


Selling to individual consumers (B to C) segmented by

• Geography• Income• Age• Interests• Gender• Nationality/ethnicity• A combination of these


Why will they buy from you?

• Value proposition• Benefits • Features• Competition

(overcoming FUD)


FUDFear

UncertaintyDoubt


How will you sell it to them?Tactics

• Price– Cost-based – Value-based– Competitor-based

• Channels– Direct (your own sales force)– Indirect

– Selecting and managing channels


How will you sell it to them?Tactics

• Communications- Personal Selling- Advertising- Sales promotion- Public relations- New media/internet


When will you sell it to them?

• Event driven• Customer’s budget cycle• Open to buy


Summary

Starting with goals and a vision marketing is a process that needs to deliver a critical mass of business

• What are you selling?• Who are you selling it to?• Why will they buy it from you?• How will you sell it to them?• When will you sell it to them?

Documents

Invention to Venture Marketing and Selling Your Stuff © 2005 NCIIA and Grayhead Associates All Rights Reserved