1 / 67

Class 4

Class 4. Revised Presentations. Office Hour: 金 11:00-12:30 VBL ２階 電話 285-8675. Revised Class Schedule as of 12/15. ① 10/06( 金 ) 14:30-16:00 Venture Business & Entrepreneurial Management/Business Idea Assignment

konala
Download Presentation

Class 4

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Class 4 Revised Presentations AVB II 2006 Jay A. Smith

  2. Office Hour: 金 11:00-12:30 VBL ２階 電話 285-8675 Revised Class Schedule as of 12/15 ① 10/06(金) 14:30-16:00 Venture Business & Entrepreneurial Management/Business Idea Assignment ②③10/27(金) 14:30-17:40 Initial Student Business Idea Presentation/Key Venture Business Concepts ④⑤ 11/17(金) 14:30-17:40 Revised Business Idea Presentation/Venture Business Marketing ④⑤ 12/15(金) 14:30-17:40 Revised Business Idea Presentation/Venture Business Marketing ⑥⑦ 12/22(金) 14:30-17:40 Marketing Assignment Presentations/Topics in Venture Finance ⑧⑨1/12(金) 14:30-17:40 More Finance & Accounting/Business Plans & Assignment ⑩⑪1/19(金) 14:30-17:40Business Plan Seminar/Business Plan Workshop ⑫⑬ 1/26(金) 14:30-17:40 Business Plan Workshop/Special Topics In Venture Business ⑭⑮ 2/2(金) 14:30-17:40Final Student Business Plan Presentations jay@eng.kagoshima-u.ac.jp www.venturesmith.us AVB II 2006 Jay A. Smith

  3. Business Idea Re-Presentation • Company/Brand • Business Mission: • Product/Service • Customer target: • Channel/Collaborators: • Suppliers: • Competition: • Key Know-How: • Business Model: First Prototype & Demonstration AVB II 2006 Jay A. Smith

  4. What will your business do? • Mission/Purpose of your business (8 words or less) • Is it special? Is it unique? • Is it important (to you)? AVB II 2006 Jay A. Smith

  5. Meeting A Market Need • Who has a real need for the thing I propose to sell? • How many of those potential customers are there? • How much, if anything, are they spending to address that need today? • Does my product meet that need in a way that either saves or makes them substantial amounts of money? AVB II 2006 Jay A. Smith

  6. How will you make money? • Business model (8 words or less) • Is it a proven way to make money? AVB II 2006 Jay A. Smith

  7. 10 Characteristics for Success • Provides value/solves problem • Large Market Opportunity • Growth • Repeat sales/recurring revenue • Brand Strength • Special know-how • Sustainable & Defensible • Creates many supporters • Unique, Something Different • Interesting & fun __________ ________ ___________ COMPANY/TEAM NAME • __________ ________ ___________ • __________ ________ ___________ • __________ ________ ___________ • __________ ________ ___________ • __________ ________ ___________ • __________ ________ ___________ • __________ ________ ___________ • __________ ________ ___________ • __________ ________ ___________ • __________ ________ ___________ AVB II 2006 Jay A. Smith

  8. Class 5 Advanced Sales & Marketing for Venture Business AVB II 2006 Jay A. Smith

  9. Today’s Drucker (1907-2005) The purpose of a business is to create and keep a customer. AVB II 2006 Jay A. Smith

  10. QUESTION 1: Who is your customer (or target customer)? How many potential customers are there (market)? What are their characteristics? Age, sex, wealth, education, hobbies, work, is it one person? What are their goals, desires, needs, wants? How do they buy? What do they think about? Where do they get information? Who influences them? What is important to decide (price, features) When do they buy (seasonal products, bonus season) When do they pay? What marketsegments (groups of similar customers) Broad market = U.S. Market, Software Market Narrow market segment = left-handed golfers Customers “the Big C” AVB II 2006 Jay A. Smith

  11. Jaguar In Pink Takako Tanaka O Wealthy, Single, Women O O O O Wealthy, Single, Men O O O O O O O O O O O O O Market Segmentation & Positioning Classy Fun Car American Car Car Safe Car Single Women Car Buyers / Drivers Single Men Younger Families Older Families Older Drivers AVB II 2006 Jay A. Smith

  12. 4Ps – Marketing Mix of Tools • Product (what do we sell) • Place (where do we sell it) • Price (how much we sell it for) • Promotion (how do we tell it) AVB II 2006 Jay A. Smith

  13. Experience: “Rebel Lifestyle!”“What we sell is the ability for a 43-year-old accountant to dress in black leather, ride through small towns and have people be afraid of him.”Harley-Davidson executive, in Results-Based Leadership HARLEY-DAVIDSON AVB II 2006 Jay A. Smith

  14. Product • What is our product and/or service • Physical/tangible – alarm, software, newspaper, coffee • Intangible – security, insurance, information, experience • Why do people buy it • What does it do? • How is it used? • Does it need something else? • One-time or consumable? • Positioning and Differentiation • Who are my target customers? • What is my brand image/strength • How different is it (perceived) from other products? • Packaging (box, label, information, customer experience) AVB II 2006 Jay A. Smith

  15. Channel • How your product/service gets to customer • Direct – company’s own network • Sales Force, Mail, Telemarketing, Vending, Some Internet/Catalog, Company Store • Indirect – via one or more other companies • Sales Agents, VAR (value added resellers), Stores (department, convenience, supermarkets, Some Internet/Catalog (e.g. Askul) AVB II 2006 Jay A. Smith

  16. Place:Choosing & Supporting the Channel • How many potential customers are there? • Can I easily identify customer? • How many products can I sell one customer? • How important is direct customer access? • How expensive is my product? • Can I afford direct selling? • Can I provide sufficient incentive to salespeople? • How powerful, or valuable are the resellers? • Are there many resellers that compete? • Are multiple channels appropriate Airplanes Coffee Home Insurance AVB II 2006 Jay A. Smith

  17. Price Issues • What does it cost to produce? • Cars, Soda, Computers • Pharmaceuticals, Software • How much value does it have to customer? • Does price fit with my positioning? “PRICING IS MANAGEMENT” - Kazuo Inamori AVB II 2006 Jay A. Smith

  18. Price x Units=Sales Margin x Units = Gross Profit Margin Price & Margin Price to customer Price to Channel Cost AVB II 2006 Jay A. Smith

  19. Class 6 • Student Business Ideas • Current (The Body Shop) • New Ideas, HTPD • Marketing Article (Irion Furniture) • Marketing Mix • Positioning • Sales Cycle, Marketing & Promotion • Assignment & Movie AVB II 2006 Jay A. Smith

  20. Today’s Drucker Business Only Has Two Functions: Marketing & Innovation Peter Drucker ビジネスの機能は、 マーケティングと革新の２つだけである。 This goes double for venture business AVB II 2006 Jay A. Smith

  21. Industry Life-Cycle Stages E G MD AVB II 2006 Jay A. Smith

  22. Product Development Cycle Months AVB II 2006 Jay A. Smith

  23. Product Development Steps • Research (Market, Customer & Technology) • Concept Development • Design • Prototyping • Testing • Pilot operations • Full Production • Ongoing Feedback and Enhancements AVB II 2006 Jay A. Smith

  24. Irion Furniture Marketing Mix Issues • Product (what do we sell) • Place (where do we sell it) • Price (how much we sell it for) • Promotion (how do we tell it) AVB II 2006 Jay A. Smith

  25. Pricing and Product Differentiation High Ferrari Style Toyota Daihatsu Ford Low Low High Relative Price 1.0 = \ 2,000,000 AVB II 2006 Jay A. Smith

  26. Pricing and Product Differentiation High “Differentiation” Relative Value Low Chance of Success Low Low High Relative Price AVB II 2006 Jay A. Smith

  27. Promotion How we communicate about our company and our products to our customers and to the world to advance our business AVB II 2006 Jay A. Smith

  28. Traditional Advertising • Pull (TV, radio, newspaper) • Can’t readily identify individual customers • Push (direct mail, direct sales) • Is each customer readily identifiable? AVB II 2006 Jay A. Smith

  29. Promotion - Advertising AVB II 2006 Jay A. Smith

  30. Internet Can Be Push or Pull AVB II 2006 Jay A. Smith

  31. Internet Can Be Push or Pull AVB II 2006 Jay A. Smith

  32. Internet Can Be Push or Pull AVB II 2006 Jay A. Smith

  33. Media Choice & Market Segmentation Promotion Media Direct Mail Taro Tanaka Fitness Magazine Targeted Poster Overweight, Athletic, Beer-Drinking Men, Who care about their figure Overweight, Athletic, Beer-Drinking Men Football Broadcast Overweight Athletic Men Train Poster Overweight Men Night TV Men People TV AVB II 2006 Jay A. Smith

  34. Product Positioning Promotion AVB II 2006 Jay A. Smith

  35. Additional Promotion Activities • Public Relations • Press releases, journalists, media, community, government, other companies • Investor Relations • Investors, analysts, exchanges, regulators AVB II 2006 Jay A. Smith

  36. Sample Market Positions & Strategy AVB II 2006 Jay A. Smith

  37. Advertising • Coca-Cola spends __ on advertising? • Google spends ___ on advertising? • Starbucks spends __ on advertising? • (let’s look it up if we don’t know) % of Total Sales AVB II 2006 Jay A. Smith

  38. Yahoo AVB II 2006 Jay A. Smith

  39. Google Sales & Marketing AVB II 2006 Jay A. Smith

  40. Making your purple cow • Something Special • Something of Quality • Something People will Talk about AVB II 2006 Jay A. Smith

  41. Viral Marketing • Word of mouth(口コミ)(Google, iPod) • Purple cows (something remarkable) • More than just something extra • Remark – able (worth talking about) • Leads to viral “word of mouth” and free media • Network effect (Skype, email, wikipedia) 5 2 6 “The more the merrier” 1 3 7 4 8 AVB II 2006 Jay A. Smith

  42. 10 Characteristics for Success THE BODY SHOP • Provides value/solves problem • Large Market Opportunity • Growth • Repeat sales/recurring revenue • Brand Strength • Special know-how • Sustainable & Defensible • Creates many supporters • Unique, Something Different • Interesting & fun (Passion) THE BODY SHOP • __________ ________ ___________ • __________ ________ ___________ • __________ ________ ___________ • __________ ________ ___________ • __________ ________ ___________ • __________ ________ ___________ • __________ ________ ___________ • __________ ________ ___________ • __________ ________ ___________ • __________ ________ ___________ AVB II 2006 Jay A. Smith

  43. Industry/Market Life-Cycle SALES Awareness  Interest  Trial  Purchase  Repurchase Emerging Growing Maturing Declining TIME AVB II 2006 Jay A. Smith

  44. Sales Cycle Point = Promotion Goal • Awareness - This Exists! • Interest – If you use this you can… • Trial – This is a low risk way to try it • Purchase – Now that you’ve tried it, buy it • Repurchase – And continue to use it • Repeat customers key to business success Awareness  Interest  Trial  Purchase  Repurchase AVB II 2006 Jay A. Smith

  45. Today’s Other Drucker The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself. Peter Drucker AVB II 2006 Jay A. Smith

  46. Assignment – Customer & Market • Secondary Market research (how big is the opportunity) • Market size, Segment target size, Growth • Customer Profile and Market Positioning • What kinds of customers are you targeting • How are you positioning the product to these customers? • Initial target customer list/segment • Sales, promotion and channel strategy • Current channels, competition issues/strategy • How can we best and realistically reach the customer? • Creating awareness, interest, trial, purchase, repurchase • MARKETING MESSAGE – 1 Phrase AVB II 2006 Jay A. Smith

  47. Market Research Techniques • Secondary (already published) • Research reports, articles, white papers • Financial reports (annual report, 10k) • Industry association information • Primary (do it yourself) • Interviews, Focus groups • Questionnaires/Surveys AVB II 2006 Jay A. Smith

  48. Questionnaire Suggestions • Who are you asking? What do you need to find out? • Keep it simple and brief (<5 minutes) • Include instructions on the survey. • Begin with general questions and move towards more specific questions. • Keep each question brief. • Mix the form of the questions. • Closed-end questions: Multiple choice, ranking, • Open questions: word association, sentence completion… • Pre-test the questionnaire. • 3-10 people (for now) AVB II 2006 Jay A. Smith

  49. Sample Questionnaire Questions • How often do you [_____] ?_ • Which of the following products do you use? • A ___ how often? _____ • How satisfied are you with current solutions? • Very satisfied, somewhat, not at all… • What are the biggest problems with _____? • Where do you find information about… • __TV, __Friends, __Radio, ___Other _____ • Check all that apply • Rank the following in terms of importance… • Where do you typically purchase … • Do you shop on the internet? • Frequently ___ Sometimes ____ Never _____ AVB II 2006 Jay A. Smith

  50. Ads and the Buying Cycle AVB II 2006 Jay A. Smith

More Related