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Marketing

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Customer & market segmentation
Ø      Segmentation is the basis for marketing, distribution/sales and product plans, as well as of forecasts.
Ø      Segmentation can be based on different things:
o       Product / feature based
o       Customer attribute based
o       Christensen: “Job to be done”
Ø      This work is intuitive, unstructured and not quantified at first, but should become increasingly disciplined and scientific as the company develops
Product
Ø      The product should be viewed as a solution to the problem or need that is the basis of the opportunity.
Ø      It is essential to understand the nature of the complete solution – all the elements that will make the product functional and useful for the customer. There must be a well thought out model of how the customer will get the complete solution, and this view must be tested.
Ø      Ideally, get the product in the hands of the customer as soon as possible; then develop features in an iterative way.
Value proposition
Ø      The value of a product or solution is what the customer is willing to pay.
Ø      Value, together with competition, is the basis of price.
Ø      The “value proposition” is an articulation of that value. Ideally, it is quantified. And it must be clear and compelling.
Marketing programs
Ø      Marketing programs comprise many different things – what you choose should be driven by strategic objectives.
Ø      The contribution of programs should be tested and measured to the extent possible.
Ø      Market research – further deepens and refines customer understanding or analysis of competitors.
Ø      Marketing collateral, ads, etc. require creative & production.
Ø      Events & shows
Ø      Key influencers: speakers, consultants, press …


Distribution plan
Ø      Choose the distribution strategy based on
o       What makes most sense from the customers standpoint
o       The economics – ultimate cost of selling – is it affordable?
o       The approach that makes most sense from the long term perspective of the company (e.g., does it make sense to invest in a direct sales force to serve a particular market?)


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