IT 01203

Technopreneurshipyuszren@gmail.com

Marketing..

Marketing is what you do when your product is no good…..

-anonymous- The internet

WHY BUSINESSES FAIL?

• Lack of objective evaluation- many entrepreneurs lack objectivity

• No real insight into the market- Lack of information about the demand potential - Present and future size of the market- Knowledge of product life cycle- Timing

• Inadequate understanding of technical requirements- thorough in studying a new product- technical difficulties – costly problems

• Poor financial understanding- entrepreneurs are sometime ignorant of costs- victims of inadequate research and planning

WHY BUSINESSES FAIL?

• Lack of venture uniqueness- a new venture should be unique- product differentiation is needed to separate product from competitor’s

• Faulty product performanceHasty shortcuts in product development

• Ineffective marketing and sales effortsInadequate promotional efforts

• Inadequate awareness of competitive pressure

• Possible reactions of competitors-price cuts

MARKET LED MARKETING PROCESS AND THE ROLE OF RESEARCH

MARKETING PLANNING PROCESS

SituationAnalysis

MarketingProgram

Development

Implementingand Managing

MarketingStrategy

DesigningMarketingStrategy

TM 2-5

MARKETING STRATEGY DEVELOPMENT

Productstrategy

Distributionstrategy

Promotionstrategy

Pricestrategy

Target Market

Positioning strategy

UNDERSTANDING MARKETS

Mapping the Product-Market

Market Structure Analysis

Market Forecasts

Future Vision About the Market

DEFINING AND ANALYZING MARKETS

Define Product-MarketBoundaries and Structures

Describe and Analyze End-User

Analyze Industry and Value Added System

Evaluate Key Competitors

Forecast Market Size and Growth Trends

Identifying and Describing Buyers

HowBuyers

MakeChoices

BuildingCustomerProfiles

EnvironmentalInfluences

DESCRIBINGAND

ANALYZINGEND-USERS

ANALYZING COMPETITION

Define the competitive arena for the generic, specific, and variant product markets

Identify and describe key competitors

Evaluate key competitors

Anticipate actions by competitors

Identify potential competitors

MARKETING IN ACTION

INNOVATON AT KINKO’S

A copy machine operator at Kinko’s , a major chain of outlet providing copying and document services, noticed that customer demand for copying dropped off in December. People were too pre-occupied with Christmas presents. So he came up with a creative idea. Why not allow customers to use Kinko’s colour copying and binding facilities to create their own customised calendars using their personal photos for each of the months? He prototyped the idea in the store and it proved popular- people could create personalised gifts of calendars featuring favourite family photos. The operator phoned the founder and CEO of Kinko’s, Paul Orfalea, and explained the idea. Orfalea was so excited by it that he rushed out as a service in all outlets. It was very successful and a new product- custom calendars – and a new revenue stream were created.

Strategies for Obtaining Information

Strategyalternatives

Use standardizedresearch services

Collect existing information

Conduct research study

Internal Data

Published information

Subscription

Single purchase

Exploratory

Full-scale

Types of Marketing Information

Marketing research studiesStandardized information servicesManagement information systemsDatabase systemsDecision support systemsCustomer relationship management (CRM) systemsCompetitor intelligence systems

To do List

16

Sales Marketing Prospecting Sales calls Follow-up Quotation Proposals Tactical Revenue Generation

Research Forecasting Competitive analysis Cost and Profit Analysis Strategic Planning Advertising & Promotion Produce excellent collaterals Order processing Distribution Technical & Services

Marketing Fundamentals

What to do?

• Show that you have a clear cut strategy in place.• Show how to position your product to go to

market and why customers will prefer you over the competition.

STEP # 1:PRIMARY MARKET RESEARCH

• Collect the information your self– Talk to suppliers– Talk to dealers– Talk to competitors– Talk to potential customers– Talk to complimentary services/products• Use questionnaires and surveys

– Talk to bankers, lawyers and accountants– Use the Internet

STEP # 2

Based on your market research undertaken, and the strategies developed:• Identify primary market

• Who are your primary customers

• Integrate Channel Partners

• Strategize with channel and customers

• Estimate initial sales achievable

• Work out longer term variables and success factors

• Identify critical success factors

FORMAT (9-10 PAGES)

• Target customer • Compelling reason to buy • Whole product • Partners and allies • Distribution • Pricing • Competition • Positioning • Next Target customer

DUE in 2 weeks

• 19th March 2010 by 5pm

The only way to know how customers see your business is to

look at it through their eyes.

Task 2

• CEO send me a blank email with a subject :

SALES-[Company Name]

Eg your company name is lembah nikmatYour email should beSALES-Lembah Nikmat