hogeschool van amsterdam instituut voor interactieve media propedeuse ondernemen college 2 17 april...
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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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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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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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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