Marketing for Tech Start-Ups – Getting the fundamentals right - Entrepreneurship 101
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Transcript of Marketing for Tech Start-Ups – Getting the fundamentals right - Entrepreneurship 101
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Marke&ng for Tech Startups
Ge5ng the Fundamentals Right Entrepreneurship 101
Jon E Worren October 26, 2011
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Defini9on
Marke9ng is an organiza9onal func9on and a set of processes
for crea9ng, communica9ng, and delivering value to customers
and for managing customer rela9onships in ways that benefit
the organiza9on and its stakeholders. Source: AMA
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Marke9ng Mix
Product
Price
Promo9on
Place
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Your idea or vision
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Glacier & Mountain: Taken!
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Putrified Shark Meat • Putrified shark meat • Hákarl, fermented shark, usually
buried for months to allow certain unhealthful substances to leak out, then air-‐dried.
• It is usually served in bite-‐size cubes and washed down with ice-‐cold brennivín.
• It is divided into two types, glerhákarl (glass shark), the part closest to the hide which is chewy and semi-‐opaque, and skyrhákarl (skyr shark), soW and tender inner parts. Both can have a preCy strong taste.
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The Winner……Air!
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FROM IDEA TO VALUE PROPOSITION Joking aside…..
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Value Proposi9on Statement • The value proposition statement may consist of
several components:
- What you are offering
- The specific value associated with your offering
- For whom you are creating value
- What makes your product special or unique
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Requires a number of decisions
• What should the product or applica9on look like?
• Who should buy it? • What problem is it solving for them – what value does it generate for the buyer?
• How do they buy? • Why would they pick us over the compe99on?
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So, we have a few things to inves9gate…
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Ques9on Your Assump9ons
• Customers and their problem • Product concept • Distribu9on • Pricing • Demand crea9on • Market Type • Compe99on
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Customer Development Model
Customer Discovery
Customer Valida9on
Customer Crea9on
Company Building
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Customer Discovery
State your hypothesis
Test problem hypothesis
Test product concept
Verify
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Value Proposi9on Statement The value proposi&on statement consists of several parts:
-‐ What you are offering
-‐ The specific value associated with your offering
-‐ For whom you are crea9ng value
-‐ What makes your product special or unique
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Product vs Customer Dev
• Implements vision • Feedback from Customer Development team
Product Development
• Ques9ons assump9ons • Decides on customers, problems and features
• Offer feedback to PD
Customer Development
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Customer Valida9on
Prepare to sell
Sell to visionaries
Determine Posi9oning
Verify Valida9on
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GET STARTED! What are you wai9ng for?
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Entrepreneur’s Toolkit • A collec9on of ar9cles, videos, workbooks and templates to
help you grow your business.
• marsdd.com/toolkit
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Other E101 Marke9ng Lectures
• November 16: Business Model
• December 7: Value proposi9on
• January 11: Market Analysis
• February 22: Marke9ng Communica9on
• March 7: Go-‐To Market Strategy
• March 14: Sales
• March 21: Distribu9on
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Summary
• Marke9ng has a holis9c mandate
• Marke9ng ac9vi9es must be part of start-‐up from the beginning
• Ques9on your assump9ons
• Blank’s Customer Discovery and Customer Valida9on processes offer credible avenues towards a well founded value proposi9on and a sustainable business model
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Thank You! Jon E Worren [email protected]
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Photo credits
• simiezzz
• CoCreatr
• jonny2love
• Rosie Simca