Hogeschool van AmsterdamInstituut voor Interactieve Media

PROPEDEUSE ONDERNEMEN

College 217 April 2007

Peter BuisLori de Paauw

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Today’s agenda

developing a plan researching the market developing the marketing approach

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Outline – Grid

Who is it for? Argument – Persuasive

» Need to convince » Need to motivate

Plan – collection of plans» Marketing plan» Financial plan» Personnel (human resources) plan» Production plan» etc

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Developing a plan

internal analysis» strengths» weaknesses

external analysis» market» competitors» customers / consumers

plan based on information / conclusions from internal and external analysis

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Your plan(s) must be based on logical conclusions from

your research!!

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Doing market research

External analysis of:» Market» Competitors» Customers

Purpose» understand potential of business idea» identify target group(s) / segmentation» ties into financial projection

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Getting the market facts, data, information Why …

» To understand the market potential and trends

What …. some examples» current sales of an industry / products» number of potential businesses / customers

» frequency of usage Where …. some sources

» OECD (national and european level)» CBS – StatLine (NL)» MKB – industry / sector level» Trade associations» Consumer associations» Google

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What if your idea / market is new?

Be creative, lateral thinking» Use data from similar industries» Use data from substitutes» Use data on products being replaced

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Getting information about competitors Why ….

» To understand how to differentiate your own product and position your product / idea / business in the market

What …. » share of wallet» market %, volume, sales, customers» positioning of products (price levels, quality)

Where …» Corporate web sites» Annual reports» Customers» Retailers

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Getting information on your customers

Why ….» To know exactly who your customer is » To create profiles and segment your target groups» To understand how your customer will use the product» To know how often your product will be used» To know where your customer will purchase the product» To understand the DMU and the buying process

Where …» Often not available in reports» You have to ask potential customers

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Assumptions

You may need to make assumptions

Explain how and why you are making the assumptions you make

Justify and support them!!

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Example

Technology – time sensor chip Product – allows consumer to see

when something is expired

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Finding information Sources for market data

» Trade associations -- $ on expired medication» Trends in aging and medication sales» Behaviourial reports of taking medication

Competitors» Substitutes – what do people do now» other manufacturers who could produce product

why don’t they? Customers

» Pick a target group – one that is easy to start» profile of buyer / user, their needs» buying unit

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Marketing Plan

The 4 P’s» Product» Place» Price» Promotion

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Products

More detail about product, prototype Features

» quality» design» packaging

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Place

How / where product will be bought Distribution

» indirect / direct» extensive / selective

Partners Depends on product and customer

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Price

Approach» competitive, cost-plus, value-based

Strategy» Penetration» Skimming

Type» bundled, captured, segmented

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Promotion

Not in grid but can be included Usually not much budget over for

promotion How will you create awareness

» especially for direct distribution strategies via internet

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Example – Marketing mix Product

» Quality, ease of use» packaging like band-aids

Distribution » extensive, indirect and direct» multi-channel

Price» penetration, value-based

Promotion» trade discounts, trials

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Remember

Always explain why you have made your choices / decisions

Give a justification, based on logical conclusions from your research

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Werkcolleges

Friday

» Elevator pitches

» everyone needs to be there

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Entrepreneurship and innovation

Large, established firms have difficulty innovating because of inertia.

» Moore’s ‘Zones of Inertia’

Market opportunities are open to small firms

» Have less to lose

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For next week:

Read chapters 6, 7 and 8

Tot vrijdag