Lecture 7. Marketing basics Stepan Vladimirovich Khachin Head of Engineering Entrepreneurship Department Tomsk Polytechnic University

Definition and goal of marketing Marketing is a profitable satisfaction of needs Goal of marketing is to achieve level of knowledge and insight to the point where goods and services suggested by you are vital and sell themselves The result of marketing is camera-ready customer

When marketing is necessary? Commercial potential of innovation development / idea determination; Introduction of new product into the market (positioning, composition of marketing strategy); The search of a sales area; The search of a partners (technology transfer); Business plan set up for investment raising; Inefficiency of promotion methods, inconsistency between product characteristics and client’s expectations, dissatisfaction concerning quality of provided goods/services ; Monitoring of situation and new competitors («Keep our nose to the wind»); Development of a new products.

Product and problem on market. Consumers. Market size. The concept Product and problem on market. Consumers. Market size. Current solutions. Benchmarking study. Competitive advantages. Promotion strategies. Business modelling MI resume

Where to find information? The Internet: analytical review, theme-based web-sites, deliverables of market leaders, reviews of specialized consulting agencies Statistics data: data reports, results of surveys, monitoring data of government entities, non-borrowed and purchased data bases Consumers surveys: interview (questionnaire), focus group Consultations with experts in current area

Tips for information search Determine key words and synonyms (!There could be a difference between international and Russian classification) Don’t be lazy concerning using of MI demo versions of specialized marketing agencies (!Diagrams often contain links to original information resource on your topics) Thoroughly study information on competitor’s sites. Try methods of CI (competitor intelligence) Learn how to work with federal and territorial services of government statistic, federal, local government sites. There is a plenty of hidden information Negotiation with consumers is mandatory There are always experts, learn how to find them and get them talking

Product and problem on market. Consumers. Market size. Content Product and problem on market. Consumers. Market size. Current solutions. Benchmarking study. Competitive advantages. Promotion strategies. Business modelling MI resume

Product and problem on market Problem identification What is innovation? What consumers problems you suppose to solve with your product? As a matter of fact, it’s a research hypothesis Then – hypothesis test with qualitative data (how serious problem is in a scale of targeted geographical segment )

Two approaches to develop a new products From product – we developed something and we should find market From market – we highlight a need and know how develop and produce (pretty quick) product that allows to satisfy customer’s problem

Ways to create business ideas You work in current area, knew market and its needs From personal experience Negotiation with expert in special area Target search Business ideas exhibition and calls Brainstorming From abroad (Always keep in mind IP issues!)