Week 3. Week 1 World Class Business and Communications M. en I. Alejandro Flores World Class...
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Transcript of Week 3. Week 1 World Class Business and Communications M. en I. Alejandro Flores World Class...
Week 3
Week 1
World Class Business and Communications
M. en I. Alejandro Flores
World Class Business and Communications
MsC Gretchen Grebe
Instituto Mar de Cortés
Bren School of Environmental Science and Management .
Week 4: Session 1
Review Customer Discovery HomeworkWhat is a Market?Market Trends and Opportunities
Week 1
World Class Business and Communications
M. en I. Alejandro Flores
World Class Business and Communications
MsC Gretchen Grebe
Instituto Mar de Cortés
Bren School of Environmental Science and Management .
How should we go about finding our customer problem?
What do we already know?
What else do we need to find out?
Week 1
World Class Business and Communications
M. en I. Alejandro Flores
World Class Business and Communications
MsC Gretchen Grebe
Instituto Mar de Cortés
Bren School of Environmental Science and Management .
What is a Market?
Source: Alejandro Flores 2012
Week 1
World Class Business and Communications
M. en I. Alejandro Flores
World Class Business and Communications
MsC Gretchen Grebe
Instituto Mar de Cortés
Bren School of Environmental Science and Management .
A market is a social structure for exchange of rights, which enables people, firms and products to be
evaluated and priced.
Source: http://en.wikipedia.org/wiki/Market via Alejandro Flores 2012
Markets are formed from two MAIN elements (but not the only ones):
DEMAND SUPPLY
Week 1
World Class Business and Communications
M. en I. Alejandro Flores
World Class Business and Communications
MsC Gretchen Grebe
Instituto Mar de Cortés
Bren School of Environmental Science and Management .
Entrepreneurs in the Market
Innovator: First to develop or patent an idea
Product Pioneer :First to have a working model
First Mover : First to sell the product (47% failure rate)
Fast Follower Entered early but not first (8% failure rate)
Week 1
World Class Business and Communications
M. en I. Alejandro Flores
World Class Business and Communications
MsC Gretchen Grebe
Instituto Mar de Cortés
Bren School of Environmental Science and Management .
Adoption Curve… (Lilly Pad Riddle)
Week 1
World Class Business and Communications
M. en I. Alejandro Flores
World Class Business and Communications
MsC Gretchen Grebe
Instituto Mar de Cortés
Bren School of Environmental Science and Management .
Week 1
World Class Business and Communications
M. en I. Alejandro Flores
World Class Business and Communications
MsC Gretchen Grebe
Instituto Mar de Cortés
Bren School of Environmental Science and Management .
How might we find out information regarding the state of the market?
Week 1
World Class Business and Communications
M. en I. Alejandro Flores
World Class Business and Communications
MsC Gretchen Grebe
Instituto Mar de Cortés
Bren School of Environmental Science and Management .
Existing Market Resegmented Market
Cheaper or Niche
New Market
Four Types of Markets
Existing Market – Faster/Better = High End
Resegmented Market – Niche = marketing/branding driven
Resegmented Market- Cheaper = Low End
New Market – Cheaper/good enough can create a new class of product or customer. Innovative/never existed before
Week 1
World Class Business and Communications
M. en I. Alejandro Flores
World Class Business and Communications
MsC Gretchen Grebe
Instituto Mar de Cortés
Bren School of Environmental Science and Management .
In order to better satisfy customers, a company may group them into distinct segments with common needs, behaviors, or other attributes
An organization must make a conscious decision about which segments to serve and which segments to ignore
Week 1
World Class Business and Communications
M. en I. Alejandro Flores
World Class Business and Communications
MsC Gretchen Grebe
Instituto Mar de Cortés
Bren School of Environmental Science and Management .
Week 1
World Class Business and Communications
M. en I. Alejandro Flores
World Class Business and Communications
MsC Gretchen Grebe
Instituto Mar de Cortés
Bren School of Environmental Science and Management .
What unmet needs will the venture address?
In creating customer value, will the venture emphasize differentiation or cost savings?
What will be the key features of the venture’s product?
Will customers require complements and ancillary services from third parties? If so, who will provide them, and under what terms?
Week 1
World Class Business and Communications
M. en I. Alejandro Flores
World Class Business and Communications
MsC Gretchen Grebe
Instituto Mar de Cortés
Bren School of Environmental Science and Management .
Total Available Market
Served Available Market
Target Market
Week 1
World Class Business and Communications
M. en I. Alejandro Flores
World Class Business and Communications
MsC Gretchen Grebe
Instituto Mar de Cortés
Bren School of Environmental Science and Management .
Week 4 Session 2
Review Market Types and TAM, SAM, and TMDetermine TAM and SAM for Tourism/Tourism
in Mexico or La PazHow might we calculate our TM? How will we
resegment?Intro into Ecosystem Maps
Week 1
World Class Business and Communications
M. en I. Alejandro Flores
World Class Business and Communications
MsC Gretchen Grebe
Instituto Mar de Cortés
Bren School of Environmental Science and Management .
Let’s Review :
Week 1
World Class Business and Communications
M. en I. Alejandro Flores
World Class Business and Communications
MsC Gretchen Grebe
Instituto Mar de Cortés
Bren School of Environmental Science and Management .
Using Ecosystem Maps
Week 1
World Class Business and Communications
M. en I. Alejandro Flores
World Class Business and Communications
MsC Gretchen Grebe
Instituto Mar de Cortés
Bren School of Environmental Science and Management .
Ecosystem Maps Help to Show…
1)Who are the entities involved
For each member of the ecosystem, what benefit do they gain and what are they willing to trade in exchange
3) How do they all interact?
Week 1
World Class Business and Communications
M. en I. Alejandro Flores
World Class Business and Communications
MsC Gretchen Grebe
Instituto Mar de Cortés
Bren School of Environmental Science and Management .
Week 1
World Class Business and Communications
M. en I. Alejandro Flores
World Class Business and Communications
MsC Gretchen Grebe
Instituto Mar de Cortés
Bren School of Environmental Science and Management .
Assignment:
Make an ecosystem map for tourism (or your hypothesized business/service) in La Paz.
Be sure to include the critical money, resource, and information transfers between each actor in the ecosystem.
