Entrepreneurial Marketing & Go To Market Strategies

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Presentation transcript:

Entrepreneurial Marketing & Go To Market Strategies Lecture in Innovation and Entrepreneurship

Step 1 Opportunity Recognition & Market Analysis: -Identify a market need -Examine competitive dynamics -Determine size and growth potential of market Step 2 Marketing as a strategy to create demand: -Develop a unique VP -Develop Marketing Objectives -Build Go-To-Market strategies i.e; Pricing, Promotion, Distribution etc

Some Definitions: Total Available Market (TAM) Served Available Market (SAM) Target Market (TM)

Customer Market Segmentation, then provide them full solution How to Cross the Chasm?

Ways to Segment a Market B2B -Industry Type -Number of Employees -Geography -Order size B2C -Gender -Income -Age -Brand Loyalty Ways to Segment a Market

Positioning/Value Proposition Single most important concept when you are thinking about your marketing strategies?

Positioning Template Guy Kawasaki’s Horizontal axis: For [TARGET CUSTOMER] who [STATEMENT OF THE NEED/OPPORTUNITY] the [PRODUCT CATEGORY] is a [STATEMENT OF BENEFIT] Guy Kawasaki’s Vertical axis: Unlike [PRIMARY COMPETITIVE ALTERNATIVE] our product [STATEMENT OF PRIMARY DIFFERENTIATION] Positioning Template

Which comes first? Positioning or Demand Creation ??? Which comes first? Positioning or Demand Creation

Positioning comes before Demand Creation because, you don’t know through what mechanism or through what channels to direct your advertising in your marketing Answer:

9 Building Blocks

Positioning Should Drive Go-To-Market Strategies - Promotion and Communication (including branding) - Pricing and Business Model (including viral marketing) - Sales and Distribution (including affiliate marketing) Positioning Should Drive Go-To-Market Strategies