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HS285: Marketing Management Class Two May 30, 2013. Beth Goldstein. Today’s Class. Lucky By Design SMART Goals Henry Heinz Case Concept pitches and selection of teams . Lucky By Design: Chapters 1 – 11 . Joanna Alberti – Philosophies. Lucky By Design: Chapters 1 – 11 .

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Presentation Transcript
slide1

HS285: Marketing Management

Class Two

May 30, 2013

Beth Goldstein

today s class
Today’s Class
  • Lucky By Design
  • SMART Goals
  • Henry Heinz Case
  • Concept pitches and selection of teams
lucky by design chapters 1 11
Lucky By Design: Chapters 1 – 11
  • Joanna Alberti – Philosophies
lucky by design chapters 1 111
Lucky By Design: Chapters 1 – 11
  • Rob Olney, ETM Manufacturing
lucky by design chapters 1 112
Lucky By Design: Chapters 1 – 11
  • Dr. Joseph Jabre, TeleEMG
s m a r t goals
S.M.A.R.T. Goals
  • Doubling in size every 2-3 years is NOT a SMARTGoal
  • Specific
  • Measurable
  • Actionable
  • Realistic
  • Time-Based
s m a r t goal
S.M.A.R.T. Goal

x

  • Increase revenue 50% next year
s m a r t
S.M.A.R.T.

Increase profit 20% from a specific customer group by the end of June 2013 by launching a new service thatmarket research proved my customers need and will pay for.

worksheet 2 1
Worksheet 2.1
  • SMART Goal
    • What’s Your Single Most Important Goal?
heinz pickle pin from world expo can you sell it
Heinz Pickle Pin from World Expo Can you sell it?

To raise awareness for his stand at the Chicago World Fair, Heinz promised a souvenir to visitors: the "pickle pin". It's been called "one of the most famous giveaways in merchandising history.”

heinz case setting the stage
Heinz Case – Setting the Stage
  • Let’s review Supply Side Changes in the late 1800’s
    • Productivity
    • Manufacturing/Technology
    • Communication & Transportation improvements
    • Mass production of food/distribution
    • Banking & credit availability
heinz case setting the stage1
Heinz Case – Setting the Stage
  • Demand Side Changes
    • Rising incomes
    • Rapid urbanization
    • Population growth
    • Change in labor force
    • New consumption possibilities
heinz case
Heinz Case
  • What are the risks and obstacles involved in trying to create a market for processed food?

He started off with pickled horseradish, sold in clear glass bottles to market its high quality & purity to customers.

heinz case1
Heinz Case
  • What factors were critical to achieve for Henry Heinz to succeed in creating a market for his products?
heinz case2
Heinz Case
  • Where did Heinz get the information he needed to develop his business strategy?
heinz case3
Heinz Case
  • How would you assess Heinz’s strengths as an entrepreneur/businessman
strengths
Strengths
  • Commercial imagination
  • Tons of energy
  • Sales talents
  • Strategic insights
  • Empathy for consumer concerns
  • Commitment to build an enduring empire
weaknesses
Weaknesses
  • Lacked financial acumen
  • Inability to identify managerial talent
  • Control freak
  • Deal-making skills were inadequate
heinz case4
Heinz Case
  • Why did he fail in 1875?
  • How did his bankruptcy influence his future business dealings?
heinz case5
Heinz Case
  • What role did branding play in Heinz’s strategy?
  • What role will it play with your companies?
heinz case6
Heinz Case
  • What other modern brands would you compare to Heinz?
you re the consultant
You’re the Consultant
  • What advice would you have given Heinz to strengthen his ability to grow his company?
heinz
Heinz
  • What did they need to understand about their customers needs to change the design?
  • What do you think of their research technique?
  • How might this technique apply to your business?
get it right
Get It RIGHT!
  • How do we decide if we like the person delivering a message?
  • Body language
  • Tone of voice
  • Actual words

55%

38%

7%

The mystery of text and email communication “OOPs” revealed!

Source: John Daly, U of Texas

who s paying attention
Who’s Paying Attention

Adults-Typical Attention Span

  • 15 to 30 seconds

What did I just say???

ready for pitches
Ready for Pitches?
  • The Association of Cleantech Incubators of New England (ACTION) is New England’s leading network of cleantech incubators sharing the common goals of
    • Accelerating the growth and success of early-stage companies,
    • Strengthening the regional cleantech cluster,
    • Creating more green jobs in New England. 
  • Challenge: Create a membership program designed to allow members easy access to meeting space, programs and service offerings called ACTIONPass
slide32

YOUR Business Concept Pitches

  • We offer_____________________________(unique competitive advantage)
  • to ___________________________________(target customer)
  • To meet or satisfy the __________________ ______________________________(customers’ need that your organization fulfills)
  • Wedo this by providing ______________________________(product/service description)
next class assignment june 4
Next Class Assignment: June 4
  • Book: Lucky By Design: Chapters 12 – 14
  • Review Social Media Critique Assignment
  • Case: American Well: The Doctor Will E-See You Now
  • Worksheets Due (ONE per team):
    • 4.1: Identifying the Right Opportunities
    • 12.1: Testing Your Customer Knowledge
special guest speaker
Special Guest Speaker
  • Michael Hunter, Undersecretary for Business Development, Commonwealth of Massachusetts
    • Heller alum
  • Be prepared with questions!