Transcript On Entrepreneurial Marketing MGT 709 New Venture Creation Agenda  Adams  Guest Speaker  Icebreaker  Keurig.

On
Entrepreneurial Marketing
MGT 709 New Venture Creation
Agenda
 Adams
 Guest Speaker
 Icebreaker
 Keurig
Adams On Marketing
 Advertising is remarkably ineffective for an
early stage company
 It’s expensive
 Very low return on investment
 Why?
What is good marketing?
 Early stage marketing cycle
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Customers->Market feedback
Market validation -> Product refinement
Products -> Publication relations
Buzz -> Customer acquisition
 Interrelationships
 Give sales the right messages and tools
 Connect R&D with customers
 Heighten market awareness of your
company’s products
Product definition
 Defining the product is your #1 market
priority
 Its remains so continuously for every product
release for the entire life of your company
 Face out to market. Face in to
development.
 Rely heavily on alpha and beta customers
Generate buzz
 Two main targets
 Public relations/press releases
 Analyst relationships
 Branding
 Logo, website, folders, business cards
 Professional, memorable, meaningful
 Presence at conferences/trade shows/web
 PR
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Press briefings/releases, analyst meetings
Power of a PR agency – existing relationships
DIY options PR Web Video
Analysts give guidance and validation, too!
Customer Acquisition
 Pass hot leads to sales
 Obtained from market validation efforts
 Other ways to locate hot prospects
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Direct-response mailing/Emails
Tele-prospecting – outsourcing possible
Trade shows
Websites
Google Adwords with SEO
Partnerships/Alliances
 Dynamically change message in response to
feedback
 Integrate – web, direct mail, calls - critical
Erika Fowler-Decatur
Founder – Ithaca Fine Chocolates/”Art Bar”
•Creator of the “Art Bar”, a Fair
Trade, organic chocolate bar that
features an art reproduction by a
regional artist
•Discusses challenges of running
a not-for-profit business, ethics
and social responsibility
•Graduate of Hamilton College
and SUNY Binghamton
•Interview
Icebreaker
 What are the essential ingredients to
Icebreaker’s success to date?
 What is Moon’s model of adoption for
American customers?
 Why has distribution succeeded in Europe
but failed in the US (to date)?
 What should Icebreaker do to “cross the
chasm” in the US?
Keurig
 How attractive is Keurig’s system to:
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Distributors
Coffee Roasters
Keurig
Office Managers
Office Employees?
 What actions should Keurig take to
penetrate the office coffee service market
(including dealing with suppliers)? How
should they price the machine? How fast
should they grow?