On Entrepreneurial Marketing MGT 709 New Venture Creation Agenda Adams Guest Speaker Icebreaker Keurig.
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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
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
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
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:
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?