new product marketing: great ideas don’t earn money...you need to make good ideas happen!

58
Bryan Cassady Guest Professor, [email protected] KU Leuven Master Class: New Product Marketing 9/11 Execution Great ideas don’t earn money You need to make good ideas happen…

Upload: bryan-cassady

Post on 15-Jul-2015

181 views

Category:

Marketing


2 download

TRANSCRIPT

Bryan Cassady Guest Professor, [email protected]

KU Leuven Master Class: New Product Marketing9/11 Execution

Great ideas don’t earn money

You need to make good ideas happen…

Bryan Cassady Guest Professor, [email protected]

About this courseIt is a sad fact that most new businesses, products and service fail. Some estimate the failure rate is as high as 90%. This course is about why products fail and what you can do to increase your odds of success.

This lecture is a part of series of 12 lectures. In my classes I use a lot of videos. If you’d like to see the presentations with videos, go to: http://www.fast-bridge.net/resources/new-product-marketing/

I hope in the pages that follow you will find new ideas and inspiration… If you’d like to download the whole class go to: http://www.slideshare.net/bryancassady2/2009-course-new-product-management-by-bryan-cassady

If you have ideas on ways to improve this course or would like help with your new products, I’d love to here from you…

Bryan Cassady [email protected] +32-475-860-757

Bryan Cassady Guest Professor, [email protected]

Bryan Cassady Guest Professor, [email protected]

Bryan Cassady Guest Professor, [email protected]

Bryan Cassady Guest Professor, [email protected]

Bryan Cassady Guest Professor, [email protected]

Bryan Cassady Guest Professor, [email protected]

Bryan Cassady Guest Professor, [email protected]

Bryan Cassady Guest Professor, [email protected]

Bryan Cassady Guest Professor, [email protected]

Bryan Cassady Guest Professor, [email protected]

Bryan Cassady Guest Professor, [email protected]

Bryan Cassady Guest Professor, [email protected]

Bryan Cassady Guest Professor, [email protected]

Bryan Cassady Guest Professor, [email protected]

Bryan Cassady Guest Professor, [email protected]

1 Distinguish your product from competition in a consumer-relevant way

2 Capitalize on key corporate competencies / brand strengths

3 Develop and market to people’s needs and habits

4 Market to long-term trends, not fads

5 Don’t ignore consumer research… but don’t be paralyzed by it

6 Make sure your timing is right

7 Be a marketing leader, not a distant follower

8 Offer a real value to consumers

9 Determine the product’s short- and long-term sales potential

10 Gain legitimacy and momentum for the brand

11 Give the trade as good a deal as the consumer

12 Clearly define, understand, and talk to your target

13Develop and communicate a distinctive and appealing brand character … and stick to it

14 Spend competitively and efficiently, behind a relevant proposition

15 Make sure the consumer is satisfied… and stays that way

Bryan Cassady Guest Professor, [email protected]

Bryan Cassady Guest Professor, [email protected]

Bryan Cassady Guest Professor, [email protected]

Bryan Cassady Guest Professor, [email protected]

Bryan Cassady Guest Professor, [email protected]

Bryan Cassady Guest Professor, [email protected]

Bryan Cassady Guest Professor, [email protected]

Linking strategy to business metrics and action plans

Bryan Cassady Guest Professor, [email protected]

Bryan Cassady Guest Professor, [email protected]

Initiatives & Programs

PERFORMANCE

STRATEGY

BALANCED SCORECARD

BUDGET

Bryan Cassady Guest Professor, [email protected]

Bryan Cassady Guest Professor, [email protected]

Quality of Management Rank

Bryan Cassady Guest Professor, [email protected]

Bryan Cassady Guest Professor, [email protected]

Bryan Cassady Guest Professor, [email protected]

Bryan Cassady Guest Professor, [email protected]

Knowledge, Skills, Systems, and Tools

Bryan Cassady Guest Professor, [email protected]

Bryan Cassady Guest Professor, [email protected]

Bryan Cassady Guest Professor, [email protected]

Bryan Cassady Guest Professor, [email protected]

Obje

ctiv

e

Measu

res

Targ

ets

Initia

tives

Obje

ctiv

e

Measu

res

Targ

ets

Initia

tives

Obje

ctiv

e

Measu

res

Targ

ets

Initia

tives

Obje

ctiv

e

Measu

res

Targ

ets

Initia

tives

Source: A Management Guide for the deployment of strategic metrics, Ratheon

Bryan Cassady Guest Professor, [email protected]

What will drive operating efficiency?”

More customers on fewer planes

How will we do that?

Attract targeted customer segments who value price and on time arrivals

What must the internal focus be?

Fast turnaround

Will our people do that?

Educate and compensate ground crew regarding how they contribute to the firm’s success

Employee stockholder program

Financial

Customer

Internal

Learning

Illustrative Example: Southwest Airlines

Bryan Cassady Guest Professor, [email protected]

Fast ground turnaround

On Ground Time On-Time

Departure

30 Minutes 90%

Cycle time optimization

Financial

Customer

Internal

Learning

Dare2compare Example

Bryan Cassady Guest Professor, [email protected]

Bryan Cassady Guest Professor, [email protected]

Bryan Cassady Guest Professor, [email protected]

Financial

Consumer & Customer

Internal

Learning

Step 3: Split the business in parts

Bryan Cassady Guest Professor, [email protected]

30 million in 3 years

Profits Customer base Growth Rates

1.1 profits 40% Growth

vs. year 2

Build consumer & customer base

Heavy spending to jump start growth

Financial

Consumer & Customer

Internal

Learning

Bryan Cassady Guest Professor, [email protected]

A brand consumers trust

First stop for loan info

Approval ratings MGM activity Image vs. key

competition

98% trust 20% reco. to a

friend 75% customers

trained

Consumerchampionsurvey

How much could you save ?

Cust. Training/systemintegration

Financial

Consumer & Customer

Internal

Learning

Bryan Cassady Guest Professor, [email protected]

Understand value for consumers &customers

Customer &consumerratings

95% say they under-stand me

Research on customer/consumerneeds

Industry roundtables

Financial

Consumer & Customer

Internal

Learning

Bryan Cassady Guest Professor, [email protected]

A focus on new consumer insight

Review participation

Level of consumer/customer interaction

100 clientcontacts per day

Monthly analysis

Feedback links on the site

Insight manager

Financial

Consumer & Customer

Internal

Learning

Step 4: Does it make sense ?Could you explain it to someone else

Is it action driven

If not, start again

Step 5: Bring the high level objectives, targets and initiatives to an

operational level

This is beyond the scope of our exercise

Bryan Cassady Guest Professor, [email protected]

Bryan Cassady Guest Professor, [email protected]

Bryan Cassady Guest Professor, [email protected]

Bryan Cassady Guest Professor, [email protected]

Bryan Cassady Guest Professor, [email protected]

Bryan Cassady Guest Professor, [email protected]