Invention to Venture Marketing and Selling Your Stuff © 2005 NCIIA and Grayhead Associates All Rights Reserved.

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Presentation transcript:

Invention to Venture Marketing and Selling Your Stuff © 2005 NCIIA and Grayhead Associates All Rights Reserved

Invention to Venture Start with a strategic approach Defining the organization’s business, mission, and goals Identifying and framing organizational opportunities Formulating product-market strategies Budgeting marketing, financial and production resources Developing reformulation and recovery strategies

Invention to Venture Some hard work on opportunity analysis Industry analysis/trends Competitive analysis Company analysis Details on how strengths/core competencies will be applied to achieve the mission and goals identified Customer analysis Overview - Who are the customers, needs to be satisfied

Invention to Venture Personal selling Advertising Sales promotion Public relations New media/internet Market penetration Market development Product development Diversification SWOT analysis

Invention to Venture

5 interrelated questions about selling your stuff What are you selling? Who are you selling it to? Why will they buy it from you? How will you sell it to them? When will you sell it to them?

Invention to Venture What are you selling? Knowledge/expertise Technology Product Service System Solution Entertainment, celebrities, events, etc

Invention to Venture Who are you selling to? Organizations Individual consumers/users Channels Some or all of the above (The supply chain)

Invention to Venture Who are you selling to? Positioning –Low cost supplier (Wal-Mart) –High priced spread/luxury (Rolls Royce) –Technology/performance, quality,value (Bose)

Invention to Venture

Selling to organizations (B to B) segmented by Industry Size Function Level and/or type of individual(s) making or influencing the purchasing decision A combination of these

Invention to Venture Selling to individual consumers (B to C) segmented by Geography Income Age Interests Gender Nationality/ethnicity A combination of these

Invention to Venture Why will they buy from you? Value proposition Benefits Features Competition (overcoming FUD)

Invention to Venture FUD Fear Uncertainty Doubt

Invention to Venture How will you sell it to them? Tactics Price –Cost-based –Value-based –Competitor-based Channels –Direct (your own sales force) –Indirect –Selecting and managing channels

Invention to Venture How will you sell it to them? Tactics Communications - Personal Selling - Advertising - Sales promotion - Public relations - New media/internet

Invention to Venture When will you sell it to them? Event driven Customer’s budget cycle Open to buy

Invention to Venture Summary Starting with goals and a vision marketing is a process that needs to deliver a critical mass of business What are you selling? Who are you selling it to? Why will they buy it from you? How will you sell it to them? When will you sell it to them?