Marketing Technology Products

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Marketing Technology Products

• Amanda Heyworth, Playford Capital
• 3 October 2001

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Once upon a time .

• Brainstorm lots of ideas
• what are we good at?
• what are customers seeking?
• where are the gaps in competitors offerings?
• If resources are limited, choose one business
  opportunity
• focus on one product targeted at a particular
  industry
• choose by following the three golden rules

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Golden Rule 1 Target market
For whom does your product solve a major problem?

• specific target market
• big market opportunity
• market readiness
• clear route to market

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Wicked words Everyone will want one
Eternal PunishmentHang out in fetid swamps
kiss every frog you meet. None turn into a
prince.
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Magic words Ive involved end customers in
product design made some early sales
Reward Only wallow in swamps for a few months
and kiss a few dozen frogs
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Golden Rule 2
How will you make money?

• good margins
• short sales cycles
• scaleable business
• low burn rate

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Wicked words I cant say what people will pay or
how much it will cost to make
Eternal PunishmentPooh has devastating
nightmares about the heffalumps woozles which
continually raid his honeypot
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Magic words My early sales show what customers
will pay and what the product costs to build
Reward The honeypot is filled just in time to
make more product everyone has sticky grins
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Golden Rule 3 Competitive advantage
Why will you win?

• defensible IP or market position
• superior skills technology

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Wicked words We have no competition
Eternal PunishmentCinderella goes to the ball
but nobody talks to her. She goes home alone.
The pumpkin is made into soup.
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Magic words Weve tied up the best distribution
routes with our unique product
Reward The prince calls Cinderella and asks for
a date
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For a fairytale ending

• Brainstorm lots of ideas
• Choose one by following the three golden
  questions
• For whom does your product solve a big problem?
• How will you make money?
• Why will you win?
• Make it happen
• focus commitment are essential
• be prepared to adapt your strategy

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GOOD LUCK