INTRODUCTION TO TECHNOLOGY MARKETING

Entrepreneurship 101 - Jon E Worren

MENU

• Definitions

• Introductory Marketing

• Resources & Next Lectures

• The Objective: To Define Key Marketing Concepts

Definition: Marketing is an organizational function and a set of

processes for creating, communicating, and delivering value

to customers and for managing customer relationships in ways that

benefit the organization and its stakeholders.

Source: AMA

MARKETING

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5th P: People

PRODUCT MANAGEMENT

Definition: Ensuring over time that a product or service profitably meets the needs of customers by continually monitoring and modifying the elements of the marketing mix, including:

‣ the product and its features

‣ the communications strategy

‣ distribution channels and

‣ price

Source: Product Development and Management Association (PDMA)

LET’S SEE HOW THAT WORKS..

YOUR IDEA

• The name of your business/product idea?

• What kind of problem do you solve? Is this an important problem? Is there a big potential market?

• How is your competition solving this problem for their customers today?

• Why are you qualified to solve this problem better than your competitors? Is your uniqueness sustainable over time?

A REAL BREAKTHROUGH.....

WHAT NOW?

Idea Value Proposition

Validate

A value proposition is a statement of the unique benefits delivered by your offering to the target

customer.

PICK YOUR TARGET CUSTOMER

Wantedfor business

CUSTOMERS DIFFER

Technology Adoption Life Cycle

CUSTOMER PROBLEM

• C.Christensen: Job-to-be-done

• What problem are you solving for your customer?

• Is the customer aware of the problem or is it a latent problem?

• Market Analysis: Customer Needs

WHOLE PRODUCT

• The product the customer requires in order to get the expected benefits

• Differs based on market maturity

• Should drive your partner strategy

• Key guideline: MVP - Minimum Viable Product

Value Proposition

Target Customer

Customer Problem

Product/ Solution

COMPETITION• Presence of choice is competition:

‣ Economic: Spend the money on other things

‣ Compete for domain leadership

‣ Reference: Spend the money with competitor

‣ Compete through differentiation

‣ Inertia: Choose not to spend (biggest)

‣ Compete through FUD (or simply wait….)

DIFFERENTIATION

OK, WE HAVE ANALYZED AND LISTENED, TWEAKED

AND REFINED OUR IDEA......

THAT’S A VALUE PROPOSITION................

Osterwalder, Alexander, Business Model Generation, 2009

SCALING THE BUSINESS

MORE MARKETINGUpcoming lectures + Free Resources

• Entrepreneur’s Toolkit: A collection of articles, videos, workbooks and templates to help you grow your business.

• www.marsdd.com/entrepreneurs-toolkit.html

• Relevant Workbooks:

1.Marketing Strategy: The Analytical Foundation

2.Marketing Strategy: Critical Value Factors

3.Marketing Strategy: Strategic Marketing Approach

4.Marcom for Start-Ups (coming soon)

5.Steps in Creating Revenue Forecasts (coming soon)

VALUE PROPOSITION

• Speaker: Joe Wilson, Education Advisor at MaRS

• Date: December 8, 2011

• Define key parts of a crisp value proposition

‣ Target Customer

‣ Customer Problem

MARKET ANALYSIS

• Speaker: Dr Usha Srinivasan, Director of Market Intelligence, MaRS

• January 12, 2011

‣ The role and purpose of research and analysis in start-ups

‣ Market Research techniques for start-ups

‣ Market Analysis frameworks for start-ups

MARKETING COMMUNICATION

• Speaker: TBA

• February 23, 2011

‣ What is Marcom?

‣ Introducing marcom tools relevant to tech start-ups on a tight budget

‣ Developing thought leadership

SALES

• Speaker: Krista Jones, Practice Lead ICE, MaRS Advisory Services

• March 9, 2011

‣ Challenges facing start-ups in technology sales

‣ Principles of Selling Value

‣ Measure and Manage Technology Sales Processes

DISTRIBUTION

• Speaker: Mark Zimmerman

• March 16, 2011

‣ Criteria for choosing and managing distribution channels

‣ Pros and Cons of various types of channel options

‣ Channel integration for start-ups

GO-TO MARKET STRATEGY

• Speaker: Jon Dogertom

• March 23, 2011

‣ How to prepare to enter the marketplace

‣ Barriers to scaling and selling your product

‣ Taking a customer-centred approach to market entry

GTM Example for Peter’s lecture

THANK YOU!