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Global Innovation Management Business Model and Presentation. Workout. Describe A novel e-Marketing business opportunity, A potential customer set This can sometimes the most difficult challenge; it is determined before determining the product

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slide1

Global Innovation Management

Business Model and Presentation

workout
Workout
  • Describe
    • A novel e-Marketing business opportunity,
    • A potential customer set
      • This can sometimes the most difficult challenge; it is determined before determining the product
    • A product or service that can be sold by the firm
    • The associated business model
        • (you will generally choose from one of the seven e-Marketing business model(s) described in my white paper on the IDS313.info site)
    • Track the value flows in the business model
  • Define a business model:
    • That produces revenue by satisfying customer demand
      • i.e., that meets the ‘Framing’ challenge
    • That can be argued to have high expected ROI
          • (where expected revenues significantly exceed expected costs)
      • i.e., that meets the ‘Venture Capital’ challenge
three challenges

Three Challenges

Framing

Venture Capital

Communication

the framing challenge
The Framing Challenge
  • What Is the Real Business Problem?
    • Accurately define your customers and what motives them
  • Properly framing a problem in terms of
      • the reality of the situation and
      • the objectives of the organization
    • is an important step in the decision-making process.
    • Mental frames act to channel our thinking and are important tools to help navigate complex decisions
the venture capital challenge
The Venture Capital Challenge
  • What is your business worth, and why?
  • Your new venture competes in two markets:
      • Product
      • Financial
  • How will you tie this to your business model
    • tying narrative to numbers
  • What are the activities, operations and products?
  • What are the significant environmental influences?
    • major competitive forces outside management control
  • How does value flow through your business model?
  • What is the Net Present Value of future activities
the communication challenge
The Communication Challenge
  • Provide a ‘lead in’ which will ‘hook’ your listener (the elevator pitch)
  • Provide a brief ‘sales pitch’ presenting the major components of your innovation and business
  • Consider what parts you most want to emphasize about the business model
  • Describe your business in one paragraph (equivalent to the 25 second pitch)
    • Numbers
    • Behavioral model and capabilities required
    • Strategy model
    • Investment Risk
    • A summary financial analysis to show risk and ROI for the project
  • Answer your investors question:
    • Why should I give you My money?"
design of site is part of the communication challenge
Design of Siteis Part of the Communication Challenge
  • In your presentation, you should walk through your website’s structure, and show how the activities below are implemented in that website
  • You should explain your marketing, AdWordsand keyword search strategy for getting customers to visit your website’s ‘Landing Page’
  • Explain how you manage customers after they arrive at your ‘Landing Page’
activity 1 identify your customer
Activity #1:Identify your Customer
  • Commercialization is about creating a customer
  • ‘Quiz’ to identify your customer:
      • Who?
        • … is with customers while hey use the product & How much influence do they have
        • If we could arrange it, who would we want the customer to be with …
      • What?
        • … Do our customers experience when the use the product
        • … needs provoked our offering
      • What else? … might customers have on their minds
      • When? … do our customers use this ..
      • Where? … are our customers when they use this
      • How? … do customers learn to use the product ..
activity 2 select a product or service
Activity #2:Select a Product or Service
  • Select a Product or Service that you are interested in marketing via Internet business models
    • This is mainly about determining your Core Capabilities
      • Capabilities =Assets + Competences
  • Money is important
    • Innovation  Utility  Commercial value
  • Talk about your opportunity register (OR)
    • Your repository of alternative ideas that can be pulled up at any time If a particular idea isn’t working
identify the 3 most important features
Identify the 3 most important features
  • Specify the particular customer choices you are offering in your product or service (no more than three) as
    • Identify the discriminators and energizers
      • What differentiates your product from competitors’ in the customer’s minds?
      • List the three features that are important to the target customer, and rank them from most to least important.
activity 3 make a profitable e marketing business
Activity #3:Make a Profitable e-Marketing Business
  • Define how you will measure the usefulness or attractiveness of each of these features to the target customer.
      • This performance metric should be a numerical measure
  • Draw a value map describing your companies proposed business model, and
    • provide some indication of the costs and revenues that will flow into and out of the business.
  • Define your product’s top competitor in each of these 3 features
      • Are these companies profitable?
      • How big (approximately) is their business?
      • Why is your product better?
  • Think: Low-costor Differentiated Products?
activity 4 define your internet marketing channels
Activity #4:Define your (Internet) Marketing Channels
  • Consumption Chain Analysis
    • Works from the premise that
      • opportunities for differentiating your product from others
        • lurk at every step and decision that your customers take
        • From the time they first become aware of their need for your product or service
        • To the time thy finally dispose of the remnants of the used up product
      • Product differentiation is the secret to high revenue
consumption chains will help you determine how to lead customers through your internet channel
Consumption Chains will Help you Determine How to Lead Customers Through your Internet Channel
customer relationship management crm
Customer Relationship Management (CRM)
  • Determine the main steps in consumption
  • Each step on the consumption chain has an attribute map
  • You should only list the 3 or 4 most important steps
  • These will determine whether the potential customer proceeds to the next step (good)
    • Or leaves the consumption process (not good)
activity 5 describe the business model and entrance strategy
Activity #5:Describe the Business Model and Entrance Strategy
  • Start with a compelling story
    • Part of selling your strategy / investment
    • Tying Narrative to Financial Numbers
      • Strategy becomes less philosophy
      • More performance and outcome
    • What activities, operations and products are within the ‘scope’ of the valuation analysis? (Bubbles: depends on audience)
    • What are the significant environmental influences? (Boxes: major competitive forces outside management control)
    • How does value flow through the relevant scope of the analysis? (Arrows: value metric)
market entrance strategy
Market Entrance Strategy
  • What are the major competitive forces molding managerial strategy which add to, or take away from ‘Value’?
  • What ‘levers’ (strategy drivers) can management pull to influence value added?
  • What is the functional relationship between value and the strategy drivers? (Define the ‘Strategy Model’)
  • What are the major technologies relevant to managerial strategy which add to, or take away from ‘Value’?
activity 6 getting customers to your landing page
Activity #6:Getting Customers to your Landing Page
  • Keywords, keywords, keywords
    • Which will you buy?
    • What are the trends?
    • How much will it cost?
    • How much traffic?
    • How much revenue
      • Will that traffic generate?
keyword tool https adwords google com select keywordtoolexternal
Keyword Toolhttps://adwords.google.com/select/KeywordToolExternal
  • Use the Keyword Tool to find 3 keywords-phrases that are better than those you selected
  • How much did monthly search volume increase
  • Will you have to pay more for these new keywords?
keyword trends http www google com trends
Keyword Trendshttp://www.google.com/trends
  • Will your 3 old keywords-phrases be more or less popular one year from now
  • Will your 3 new keywords-phrases be more or less popular one year from now
identify your keyword goals
Identify your Keyword Goals
  • Get more clicks
      • Focus on keywords and placements. Increase your ad exposure by adding keywords and site placements to your ad groups. 
  • Increase clickthrough rate (CTR).“
      • Focus on ad quality
  • Attract more clicks by refining your ads,
      • Eliminate extra impressions by choosing highly targeted keywords and placements and using negative keywords
  • Improve return on investment (ROI)."
      • First, focus on your ads and your keywords and placements to attract the right audience
      • Then focus on your website.
      • Be sure your landing page and site are set up to let users find what your ad offers 
attaining goals
Attaining Goals
  • Organize your campaigns by topic
      • Create separate campaigns for each of your product lines, resources, or brands.
      • This helps you monitor your advertising more easily
  • Target the right languages and locations
      • For each campaign, target ads by languages and locations
  • Create highly specific ad groups.
      • As with your campaigns, each ad group should center on a single product or service
      • Build a list of keywords or placements, then separate them into related ad groups
  • Create ads that pertain directly to that list.
      • For example, if you sell mp3 players, and you've organized your campaigns by brand, create multiple ad groups based on the models of each brand. 
conversions
Conversions
  • Conversion = Money Generating Web Action
  • Point users to the right landing page.
      • When users click on your ad, they should arrive at a landing page clearly displaying the information or product offered
  • Keep the user experience in mind.
      • Place important information and images on the top left, where the eye naturally goes first.
      • Help people get what they want in three clicks or fewer.
      • Create a simple process for users to complete transactions
activity 7 website usability
Activity #7: Website Usability
  • What will you do once you get a potential customer to your ‘Landing Page’?
  • Walk through your website:
    • Show how it implements the Consumption Chain
    • Show how you lead customers from one page to another
    • How many steps are there from
    • Landing Page to
    • Conversion (collecting payment)?
website usability attention management
Website UsabilityAttention Management
  • Identify where customers attention is focused
  • What is your goal?
  • Think in terms of Conversions!
required
Required
  • The project will comprise the following:
    • Work in groups of three to four
    • 25 second ‘elevator pitch’
    • 10 minutes to walk through
      • the activities that will define your e-business model
      • Use the whiteboard to emphasize points, draw graphs, etc.
      • Feel free to present on PPT from your laptops.
required meet the challenges
Required: Meet the Challenges
  • Framing
    • What Is the Real Business Problem?
        • the reality of the situation and
        • the objectives of the organization
  • Venture Capital
    • Your new venture competes in two markets: (1) Product; (2) Financial
    • What are its activities, environmental influences, operations and products?
    • How does value flow through your business model? What is the NPV of future activities
  • Communication
    • Provide a ‘lead in’ which will ‘hook’ your listener (the elevator pitch)
    • Provide a brief ‘sales pitch’ presenting the major components of your innovation and business
    • Consider what parts you most want to emphasize about the business model
    • Answer your investors question:
      • Why should I give you My money?"
required how does your e business site meet these challenges
Required: How does your e-Business Site Meet these Challenges?
  • In your presentation, you should walk through your website’s structure, and show how the activities below are implemented in that website
  • You should explain your AdWords and keyword search strategy for getting customers to visit your website’s ‘Landing Page’
  • You should explain the operation of your “conversion cone – consumption chain” in generating “Conversions”