Identifying growth platforms

PROPRIETARY AND CONFIDENTIAL

Identifying growth platforms through a brand-driven innovation process

A case study on the Sci Fi channel

Michael Million [email protected]

University of Chicago Graduate School of Business Innovation Roundtable

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2 University of Chicago GSB Innovation Roundtable

Sci Fi Channel – Background

•  A 14 year-old, niche cable channel offering both syndicated and original shows

•  Parent company: GE / NBC Universal

•  Ranked #7 basic cable channel, after USA, TNT, TBS, FX, SPIKE, and LIFE

•  Revenues: $435 million (primarily from licensing and advertising fees)

•  Operating profits: 34%; Ratings growth: 8%

•  Fully distributed in 88M U.S. homes, with operations in Europe

•  SciFi.com ranked #1 Sci-fi website

•  Core audience: Older males, average age: 42

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Sci Fi Channel – Background

Strides to change perceptions were being made (more contemporary shows / branding)

Although there were stereotypes of the Sci-fi genre ….

Freaks, geeks, and pocket protectors

… Opportunities to become a “category killer” existed

Space, aliens, dark / apocalyptical, Star Trek

Sci-fi genre includes the top grossing movies

Others successfully grew beyond TV platform

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The Project

Business Strategy & Innovation •  Assess strategic business opportunities

•  Formulate business cases for extending the Sci Fi brand through various concepts

•  Identify new, innovative products and services the Sci Fi brand could offer

•  Help prepare for S1M discussions (strategic planning process)

Brand Strategy •  Understand the sci-fi / fantasy genre from the consumer perspective

•  Explore the potential extendibility of the Sci Fi brand beyond its core television platform

•  Refine the brand strategy to allow for significant business growth with a target audiences

Objective: Identify growth platforms by re-imagining the entire business and brand in ways that significantly increase opportunities for expansion

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Approach

Art

Science

External Internal

Size New Businesses

Redefine the Sci Fi Brand

Define Target Segments

New Media

Consumer Electronics

Travel & Leisure

Retail

Explore New Offers

Growth Platforms

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Process

•  Defining target consumers

•  Redefining the Sci Fi brand

•  Brainstorming offer concepts

•  Narrowing in on attractive businesses

•  Recommendations

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Sci Fi Segments

Involvement None High

Religion Realists

16%

Escapists

16%

•  41 •  Female •  $50K

•  Married / Kids •  Low College

•  Heavy TV •  Heavy Readers

•  Love Fantasy

•  40 - 50 •  Mothers •  Married

•  Southern •  Moderate TV

•  Light Internet •  Conservative

•  Love God & Family

•  31 •  Male/Female •  $45K

•  Single •  Ethnic. Diverse

•  Heavy TV •  Heavy Gamers

•  Love Thrills

Screamers

19%

•  27 •  Male •  <$40K

•  Single •  Ethnic. Diverse

•  Heavy TV •  Heavy Movies

•  Love Being Scared

TV Snobs

17%

•  40 •  Male/Female •  $45K

•  Married •  Caucasian

•  Light TV •  Readers

•  Love Learning

Young Marvels

16%

SciPhiles

16%

•  42 •  Male •  $55K

•  Married •  College

•  Light TV •  Heavy Internet

•  Love science

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Addressing shortfalls with the Sci Fi segments

•  Segmentation based primarily on TV watching behaviors – tomorrow's segments will have to be based on broader entertainment consumption

•  There was limited future potential with how targets were defined (we did not know enough about them outside of the TV / sci-fi categories)

•  High potential groups (children) were not included in the segmentation

Address the shortfall

•  We developed a hypothetical consumer framework more useful and actionable for future offer development

•  We validated and refined those hypothetical consumer groups with inputs from the qualitative research

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Tomorrow’s target will:

•  Look very different than today’s core viewing audience

•  Skew considerably younger

•  Move toward more of a gender balance, but might slightly skew male

•  Consume more forms of entertainment (including digital) vs. traditional TV

•  Have higher incomes and more sophisticated tastes

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Target Audiences

Adults Children

Young adults w/ no kids (18 – 30)

Families w/ children 4 – 12

Tweens (8 - 12 )

Young Kids (4 – 8)

All large groups with significant purchasing power and/or influence ~  35M (people) ~  $750B (total spend)

~  35M (HH) ~  $1,650B (HH

expenditures)

~  15M (people) ~  $85B (total spend)

~  20M (people) ~  $105B (total spend on

kids)

§ Significant purchasing power

§ Extremely tech savvy

§ Hungry for exploration, self expression, sharing of information and new experiences

§ Many interested in sci-fi related genres

§  Increasingly influenced by children

§  Increasingly difficult to target as interests within family fragment

§ Significant influence on parents / family

§ Establishes a pipeline for future offers

§ Less likely to have limiting associations of “sci-fi”

§  Increasing buying power

§ Extremely tech savvy

§ Media-centric – they spend 6.5 hours/day online and/or watching TV

§ Offers developed could be leveraged into young adults

§ Has an affinity for the unknown / sci-fi

§ Tech savvy

§ Heavy TV watchers

§ Heavy readers

§  Impressionable

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An iterative process to redefine the brand and determine the best concepts to consider

•  Development of multiple offer ideas from different sources

•  From: TV-centric

•  To: a broader definition to direct future concept development

•  Combining multiple ideas into bigger , broader, more digestible concepts

•  Packaging ideas to generate excitement and elicit internal feedback

•  Overall Appeal

•  Differentiation

•  Brand Extendibility

Idea Generation Brand Redefinition

Concept Development

Evaluation & Prioritization

Diverge Converge

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Process






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Idea Generation

Participants Internal •  Sci Fi •  NBC Universal •  Prophet •  Agencies

partners

Creative Consumers

Pulled from panels consisting of creative thinkers

Genre Enthusiasts

Self identified enthusiasts of the Sci-fi genres

Methodology •  Management Interviews

•  Channel Retreat - over 50 internal participants

•  Full group discussions and break-outs

•  3 - 4 sessions

•  Each group to focus on distinct topics to provide breadth of ideas

•  Warm-up – getting participants in the right frame of mind (“all things sci-fi”)

•  Multiple techniques used

•  Several short-burst discussions

Facilitators •  Professional facilitator specializing in creative thinking, innovation, and new product development

•  Trained to strike appropriate balance between “blue sky” ideation, and idea generation that is more pragmatic

Hundreds of Ideas

& Brand Insights

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Brand Definition & Concept Development

Brand Themes and Filters / Criteria 1.  Be entertaining and fun 2.  Be thought-provoking

3.  Be mysterious / a little quirky 4.  Be significant

Hundreds of Ideas & Brand Insights

Business Concepts

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Brand Theme: “Transform”

Transform

From - To

Moment-in-time

Another Realm

Role Playing

New Experiences

Escape

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“Transform” Business Concepts

University of Chicago, GSB Innovation Roundtable Slide 16

•  Brand a large plot of land, or self contained property

•  Stage fantasies for 6-8 people who share similar fantasies

•  Transport consumers to a different time, place, under an assumed role

•  Sell take-home products, subscriptions to an online community

Fantasy Destinations

•  A room within houses that enables transformation to a different time or place

•  “Dynamic media wall”

•  Additional accessories (e.g., music, objects, furniture) to enhance the transformation

•  Revenues from user fees and media fees

Changing Room Interactive Role Play

•  Sci Fi MMORP, based on new sci-fi themes and existing programs

•  Participants subscribe to game and purchase characters and tools to advance to higher levels

•  Tie-into actual Sci Fi TV content, with winners determining the fate of characters, outcomes

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Brand Theme: “Explore”

Explore

The Journey

Uncover

Unknown

Discovery

Soul Search

Mysterious

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“Explore” Business Concepts

•  A kiosk that uses virtual reality technology to provide users with an exploration of the unknown

•  Themes to include “time travel” to numerous different combinations of location and time (e.g., space, the human mind, etc.)

•  Kiosks could be freestanding or reside in a mall

•  An overnight train ride that stages an exploration of themes relating to sci fi

•  The staff, always in character, interact with passengers to facilitates exploration

•  Periodic stops along the journey brings the exploration to life

•  Children and adult versions

Fantasy Train Virtual Reality Pods

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Brand Theme: “Create”

Create

Self-express

Enabled Play

Personal

Connect

Community

Experiment

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“Create” Business Concepts

•  Sci Fi stages themed social events; includes creating party entertainment kits

•  Event planning that taps into social trend of kid-designed, creative entertainment

•  Themes to include space travel, extreme adventure, special effects, alien abduction, etc.

•  Web-based, user-generated story creation contest, using tools from Sci Fi including video clips, characters, sample scripts

•  Consumers form virtual teams and create a “finished product”

•  The winning team has story produced by Sci Fi into multiple media forms

Networked Story-building Staged Events

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Qualitative research to gain insights on the Sci Fi brand and business concepts

•  8 Total Groups (2 hour sessions)

•  3 U.S. Cities

•  3 types of participant make-ups, 8 participants each •  Trend-setting young adults w/ no kids (4 groups)

•  Progressive adults with kids 4 – 8 (2 groups)

•  Social Tweens 11 - 13 (2 groups)

•  Key Topic Areas

•  Attitudes, perceptions and behaviors relative to entertainment and sci-fi genres

•  Reactions to business ideas (favorable or not, why, improvement modifications)

•  Perceptions of Sci Fi brand (equity / extendibility relative to business ideas)

•  Reactions to brand positioning platforms / identities

•  Refinement of ideas (to increase their value, differentiation, and credibility to Sci Fi)

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Evaluation: Appeal and differentiation were based on three things

+

•  Fantasy Destinations “If Sci Fi did an amusement park”

•  Immersion Pods “It would have to be close to home video games now – high definition”

+

•  Fantasy Destinations “You can role play..you can create…it’s a fun family thing”

•  Mind Bar

•  Role Play Game

•  Creativity Game

+

•  Changing Room

“I can put anything I want on it - even Johnny Depp”

•  Role Play Game

•  Fantasy Destinations

-

•  Virtual Reality Gear “Earlier versions were crappy”

•  HH of the Future “A little out of reach; too futuristic”

- •  Immersion Pods “So isolating…it’d be more fun if there were others to interact with”

-

•  HH of the Future “It loses the appeal of home – there is no comfort, no warmth”

Believability Interactivity Customizable

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Evaluation: Credibility came primarily from digital gaming and experiences

Digital Games Home Products Entertainment/Experiences

Networked Story Building

(UGC)

Creativity Game

(Education)

Mind Bar (Restaurant)

Fantasy Experiences

(Leisure/Travel) Changeable

Living Spaces

(Furnishings)

Immersion Pods

(Virtual Reality)

Interactive Role Play Game (MMORPG)

Household of Tomorrow

(Appliances/Design)

Bou-tech (Retail)

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Based on the insights, we refined what the brand should stand for in the future

Fueling the Imagination

From To

For those with curious minds and a love for entertainment, Sci Fi is the lifestyle brand that allows consumers to escape to new

realms through continuous transformative experiences

Transformative Escapes

Optimistic

Mind-blowing Immersive Wonderfully Eccentric

The Sci Fi Experience The Sci Fi Personality

Human

Stimulating

High-Quality

Risk-taking

Smart

Relatable

Inviting

TV-Centric Experiential (at home, on-the-go, destinations)

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Process






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Category Distillation

1.  Aerospace & Defense 2.  Agriculture 3.  Auto. & Transport

4.  Banking 5.  Beverages

6.  Business Services 7.  Charitable Orgs.

8.  Chemicals 9.  Computer Hardware 10. Computer Services

11. Computer Software 12. Construction

13. Consumer Products 14. Consumer Services

15. Cultural Institutions 16. Education

17. Electronics 18. Energy & Utilities 19. Envt. Svcs, & Equip.

20. Financial Services

21. Food

22. Foundations

23. Government

24. Health Care

25. Industrial Mfct.

26. Insurance

27. Leisure

28. Media

29. Membership Orgs.

30. Metals & Mining

31. Pharmaceuticals

32. Real Estate

33. Retail

34. Security Pdcts & Svcs.

35. Telecom. Equipment

36. Telecom. Services

37. Transportation Svcs.

Started with 37 SIC codes

Media Consumer Products Leisure

Ended with 3 Categories

B2C

Entertainment or Educational

Lifestyle Oriented

Sci Fi Screens

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Related Industries – Opportunity Landscape

•  Conventions

Accessories •  Mobile •  merchandise

Gaming Hardware •  Consoles, devices, PCs

• Gaming gear

Home Appliances •  Sci Fi inspired smart appliances

Ready to Assemble •  Changeable Living Spaces

HH of tomorrow

Architectural Lighting

•  Illuminated wallpaper

Lighting units •  Line of floor,

desk & wall lights

Technology enabled apparel & jewelry •  Multi-function

wearable device •  Bou-tech

Multiple IPTV channels

Service Provider

Content Extensions •  ringtones &

Ring backs •  Wallpaper •  Text Alerts

Hotels & Resorts •  Fantasy

Destinations

Amusement Parks /

•  Fantasy Destinations

•  Arcades / FECs

Gaming Software •  Video Games, Online Games,

Mobile Games, Computer games •  Interactive Role Play Game • Creativity Game

Home Storage, Org. Products, &

accessories

Audio Video Equipment •  Media Wall •  Immersion pods

Internet / Digital Music Distribution

& Downloads

Cable TV Broadcast

TV Production & Distribution

Motion Picture Production & Distribution

(long format)

Travel Services

• Staged events

Leisure

Music Media Consumer Products (non-retailing)

Commemorative Products

Television Film & Video

Book Publishing

Periodicals • Online story-

building

Trading Cards & Comic Books

Digital Content

Distribution Online

story-building

Publishing

Consumer Electronics

Toys & Games

House wares

Home Furniture

Lighting

Appliances

Apparel & Jewelry

Lodging

Entertainment

Specialty Eateries • Mind Bar

Restaurant & Cafes

Training Services (support)

Mobile

8

7 6

5

4

3

2

1

3 Categories

18 Industries, 8 high priority

36 sub-industries, 13 high priority (darker backgrounds)

Concept bundles from bottom-up exploration

#

Abcd

Opportunity Landscape

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Industries were profiled across key dimensions

Entertainment - Theme Park (Experience/Ride)

Restaurant (Themed Full Service )

Lodging (Mid-Level Hotel)

Entertainment – Conventions

Entertainment – Arcades / FECs

Economics §  $11.3B market §  3% CAGR §  20-30% op. margin §  Avg. $67 for one day ticket /

$115 for multi-park

§  $510 (total), $174B (themed restaurants)

§  6-7% CAGR §  10-20% op. margin §  Avg. HH spend / year: $2,434

§  $121B (total), $42M (mid-level)

§  5% CAGR §  35-35% op. margin §  Avg. spend for leisure: $85 -

90 / night

§  $10.8B market §  5% CAGR §  Low op. margins

§  $1.4B market §  (2-3%) CAGR §  10% avg.op. mgns. §  Wide range of op.

margins fr. 0 – 17%)

Market Outlook & Trends

§  Mature, saturated market w/ low growth and limited revenue opportunity

§  High OPEX required, as an operator

§  Industry in transition Revenue drivers: §  Admission fees (55% of

revenue), then food, games, and merchandise

Trends §  Increasingly sophisticated (and

costly) rides – more immersive, interactive

•  Mature, saturated market w/ low growth and limited revenue opportunity

•  Difficult business to sustain growth (23% restaurants fail by year one, 60% by year three)

Revenue drivers •  Traffic, revenue per table, high

margin items (i.e., dessert, liquor)

Trends §  Migration from price to

experience (“eater-tainment”) §  Less expansion, more

remodeling / re-invention

§  Mature market w/ low growth §  Higher rev. generation

opportunity §  High OPEX required, as an

operator Revenue drivers: §  Occupancy and room rates,

other services (food, spa) Trends §  From function to experience §  Many competitors reinventing

offers with design, ingredient brands (Heavenly, Bliss)

§  Slowly growing market with low op. margins

§  Coordination intensive

Revenue drivers: §  Qty. of shows /

fees, growth in segment

Trends §  Increased role of

conventions as promotional tools

§  Small, declining market w/ stagnant prices

§  Severe competition from substitutes (in-home & mobile video games)

Revenue drivers: §  Games, admission fees,

repeat attend. Trends §  Decreased availability of

new games §  Neg. public image

Competition §  Top five operators account for most indust. revenues)

Critical Success Factors: §  Location (near large tourist

destinations) §  Continuous innovation §  Ability to bundle services §  Access to capital §  Brand reputation Major players: §  Disney: 48%, $5.4B §  Universal: 10%, $1.1B §  Six Flags 10%, $1.1B §  Anheuser-Busch 10%, $1.1B

§  Highly fragmented, regional, multiple entrants and exits

Critical Success Factors: §  Differentiated offering §  Location §  Access to capital §  Op. & HR management §  Recognized brand Major players: §  McDonalds: 1.4%, $7B §  YUM!: 1.2%, $5.9B §  Darden: 1.2, $5.7B §  Wendy’s: 0.5%, $2.4B §  Landrys 0.3%, 1.2B

§  Somewhat fragmented Critical Success: §  Advantage comes §  Differentiated offering §  Location §  Access to capital §  Op. management §  Strong brand portfolio §  Loyalty programs Major players (%- rooms): §  Cendant: 9.9%, $3,.3B §  Marriott: 8.7%, $11.5B §  Hilton: 8.1%, $4.4B §  Starwood: $5.9B

§  Highly fragm., few large operators assoc. w/ major centers

§  Low entry barrier §  Accounts for 1/3 of

hotel revs. Critical Success: §  Strong planning /

coordination §  Alliances §  Word of mouth Major players: §  The Freeman Co.:

9.3%, 1B

§  Fragmented: largest eight account for <30% of revs.

§  High fixed cost and capital expenditures

Critical Success: §  Location §  New games §  Control on op. exp. Major players: §  D&B: 25%, $0.4B §  Chuck E. Ch.: $0.7B §  Game Works: 4%, $60M

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Each industry was scored to determine attractiveness

Entertainment / Other Restaurants Lodging (Hotels)

Amusement Parks Conventions Arcades / FECs Financial Objectives (revenue & profit potential)

§ Moderate size ($11.3B) § Slow growth (3%) § Healthy op. margins (15%) § High fixed costs

§ Moderate size ($10.8B) § Slow growth (5%) § Low op. margins

§ Small market ($1.4B) § Declining (-2-3%) § High failure rate § High fixed costs

§ Large market ($510B) § Slow growth (6-7%) § High failure rate (60%) § Limited rev. potential

§ Large market ($121B) § Slow growth (5%) § High op. margins § High OPEX

Business Strategy (alignment w/ strategy)

§ Limited potential to broaden viewer ship but high potential to monetize brand § Will diversify business well § Very synergistic w/ other offers and Universal

§ Limited potential to broaden viewer ship or monetize brand, but relatively easy to enter § Not as diverse as others, more for mktg. than rev.

§ Limited potential to broaden viewer ship or monetize brand § Could diversify bus. & increase exposure, only if large scale

§ Limited potential to broaden viewer ship § High potential to monetize brand § Will diversify business § Somewhat synergistic

§ Limited potential to broaden viewer ship § High potential to monetize brand § Will diversify business § Somewhat synergistic

Brand Strategy (reinforces future aspirations)

§ Very good oppty. to be “transformative” / immersive / fun / unique § Good oppty. to change limiting perceptions of Sci Fi § Natural fit wit the brand

§ Limited potential to be “transformative” / immersive § Risk of perpetuating current brand image § Won’t help change percpetions

§ If executed well, can be “transformative” / differentiating § Neg. perceptions of industry could reflect poorly on brand

§ If well executed, can be “transformative” / diff. § Oppty. to change limiting perceptions of Sci Fi § Food elements could diminish “escape”

§ If well executed, can be “transformative” / diff/ § Oppty. to change limiting perceptions of Sci Fi § Current perceptions might limit trial

Target Segments (fit with target segments)

§ Very good fit with target’s preferences & behaviors (avg. age: 25 – 44, esp. families) § Captive audience (avg. stay is 5.3 nights) § Increasing interest by adults (1/2 of those visiting Disney World) , rejuvenile phenom.

§ Good fit with target (families, tweens), but limited exposure to mass audience § Conventions for sc-fi related content is growing in popularity

§ Trends moving away from entertainment ctrs. and more toward themed restaurants (eater-tainment) and in-home / mobile games § Possible oppty. with tweens, but untested

§ Very good fit with target’s preferences & behaviors § Increasing spend and traffic of families § Increas. popularity of themed eater-tainment restaurants w/ families

§ Good fit with consumer trends (blend of uses – lifestyle oriented) § Those who choose a destination based on a TV / Movie more likely to be younger, higher income, college educated, w/ children

Overall Attractiveness

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We then developed financial models for each industry

Aggressive Scenario

INCOME STATEMENT Revenues

Cost of Goods Sold

Gross Profit Gross Margin

Operating Payroll

Operating Profit Operating Margin

CASH FLOW PROJECTIONS Operat. Cash Flow

Capital Expenditures Net Cash Flow OPEARTING DATA FIXED ASSET DATA

Total Investment

Moderate Scenario


Cost of Goods Sold


Operating Payroll



Capital Expenditures Net Cash Flow OPEARTING DATA FIXED ASSET DATA

Total Investment

1 Established appropriate line item details for a 5-year pro forma

Conservative Scenario Year 1 Year 2 Year 3 Year …


Cost of Goods Sold


Operating Payroll



Capital Expenditures Net Cash Flow OPERATING DATA FIXED ASSET DATA

Total Investment

2 Determined scenarios to model conservative to aggressive projections

3 Made educated assumptions for key financial inputs based on secondary industry data from analogous companies and offers

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Process






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Six platforms to grow the business

Non-Media Related ($15MM: License: $12MM, Memberships: $3MM)

Online gamin ($5MM) Mobile ($5MM)

Programming for Youth Market ($15MM Ads)

Home – Sci Fi Surround ($20MM)

Low-hanging Fruit – Extensions ($30MM) Media Related ($15MM: $6MM License, $9MM Content)

Custom Devices ($20MM license) Media / Gaming Content ($10MM)

Mobile – Sci Fi Jolt ($30MM)

International Extensions ($40MM)

Low-hanging Fruit ($30MM)

Gaming – Sci Fi Blast ($85MM)

Video Games ($10MM

Licensing)

Online Games ($60MM) (Content: $50MM; Ads: $10MM)

Destination Games ($15MM

Licensing)

Household Products ($10MM Licensing) Multi-media Home Theater ($10MM Licensing)

Children Adults

1

6

3

2

5

4

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The expected revenue growth from these opportunities is $220 MM over the next 5 years

Sci Fi Channel (20XX)

Low-hanging Fruit

Gaming (Sci Fi Blast)

Home (Sci Fi Surround)

Total 20XX $0

$500

$750

$436MM

$720 MM

$ M

illio

n in

Rev

enue

s

Mobile (Sci Fi Jolt)

International Sci Fi Channel Incremental

(20XX-20XX)

$64MM

$250

$30MM $40MM

Video & Destination ($25MM)

Online ($60MM

) HH

Products ($10MM)

Multi-media home

theater ($10MM)

Devices ($20MM)

Content ($10MM)

Youth market programming

$15MM

§ DVDs § New Broadband Channel § Digi-sodes § Print Publishing § Mobile extensions § Toys & games § Accessories § Consumer electronics § Logo-wear apparel § Conventions § Clubs

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Developments driven by our recommendations

Gaming •  Compiled list of 40 potential acquisition/partnership

target based on following criteria: 1.  Specializes in games that appeal to SCI FI audience

2.  Develops games across platforms

3.  Is of a manageable size allowing for rapid acquisition

4.  Has track record of releasing successful games

5.  Has operations in close proximity, with similar culture

6.  Has publishing experience/capabilities

Low-hanging Fruit Extensions •  New Broadband channels:

•  Exploring creation of “Sci Fi classics” broadband channel utilizing public domain genre programming

•  SCI FI Anime – early stage exploring acquiring or partnering with existing library companies

•  Print Publishing: •  Structuring deal with Hollywood Entertainment (book

packager) for novelizations of SCI FI Pictures movies

•  SCI FI mobile storefront being developed through NBCU Digital team (content to include ringtones, wallpapers, games - launching X)

•  “Digi-sodes” – Establishing a MGM/Stargate deal for iTunes/Amazon

International Extensions •  Soon to launch in Scandinavia, Australia

•  Developing Asia, Latin America

•  Structuring a global brand management infrastructure

Programming for the Youth Market •  Kids

•  Exploring Joint Venture with BKN to create a Sci Fi branded Saturday morning on-air programming block and corresponding broadband portal - to include ad sales (on-air, online), DVD & licensing/merchandising

•  Youth/Young Adults •  Negotiating Joint Venture with Virgin Comics - initial

scope to co-develop/own 5 properties to be executed as comic books, then owned asset to develop TV, film merchandise efforts.

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In Conclusion

•  Brands are very important to consider when innovating - they can either be a source of inspiration or limiting factor of inflated ego

•  Brands are typically more or less credible in entering new businesses / offerings than companies think they are

•  Rarely do companies know exactly how far their brand can / should stretch as they innovate for white space opportunities

•  Flexibility around process is also important •  A iterative art / science and top-down / bottom-up approach can garner the best

results, but an overly structured approach could limit uncovering the best insights

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Michael Million Bio & Contact Information

Michael is a partner at FullSurge, a management consultancy focused on driving growth through brand, marketing and innovation strategies. He has over 20 years experience advising companies on customer, brand, and go-to-market strategies, as well as the communication and design systems driven by those strategies. Michael’s ability to solve a broad set of underlying business challenges comes from his extensive knowledge of insight methodologies, conceptual and strategic skills, and ability to clarify the complicated. Prior to FullSurge, he was a partner at VSA, where he built the agency’s strategy practice to address broader business issues of its clients. Prior to VSA, Michael held senior level positions at top tier brand consultancies including Prophet and Landor Associates. Throughout his career, Michael has successfully led large engagements for a wide variety of Fortune 500 clients including GE, IBM, DuPont, Boeing, CDW, Cargill, Textron, KeyCorp, Kohler, and United Airlines, as well as mid-sized companies such as the College of American Pathologists, Sea Ray Boats, the Syfy Channel, and the Blue Bird Bus Company. Michael has guest lectured on branding and strategy at the Kellogg Graduate School of Management at Northwestern University and Haas Business School at University of California, Berkeley. He has facilitated workshops for the American Management Association, was a panel member for high-ranking business schools, and has frequently spoken at Board Meetings for his clients. [email protected] 312-957-5801 312-498-1515 C

Identifying growth platforms

Business

Transcript of Identifying growth platforms