Thursday, February 21, 2013
Monday, February 18, 2013
Venture Forum
Out of the nine presentations, EngineKites was the most intriguing to me. Their presentation did an excellent job of covering a number of key points involved with beginning a startup. Their journey is well represented by their slideshow in that it defines how their idea became a real business opportunity. The team's research process gave them an in depth outlook of the kite-boarding industry that they were trying to become involved with. By exploring many different channels in which to market their idea they were able to find the correct niche of the industry which they would most profit from. I really enjoyed the video they showed in the presentation which made me want to try it out!
Another presentation which caught my eye was Micasa. There idea was a good one from the start but in the end they realized that their target audience was backwards. They first focused their attention with the landlords but in the end were mainly servicing the tenants. Their presentation shows the transformation of the customer segments and the lessons they learned along the way which I thought was a good thing to show to their potential customers. They also presented their value propositions as target goals which they believed they could be #1 in each of them above their competitors, very driven approach.
Finally I enjoyed the GameSpeed presentation. Although very short I liked their product. Targeting young athletes enables these kids to develop their skills at a younger age if they wanted to pursue a career in professional sports or if they just want to be health conscience. I thought interacting with 4,000 customers was an impressive feat considering the other presentations did not come close to this number. They also did a great job presenting a step by step analysis of their business model using important statistical data, especially connecting with their target market in order to find what feasible approach to take.
Lessons Learned
Out of the nine presentations, EngineKites was the most intriguing to me. Their presentation did an excellent job of covering a number of key points involved with beginning a startup. Their journey is well represented by their slideshow in that it defines how their idea became a real business opportunity. The team's research process gave them an in depth outlook of the kite-boarding industry that they were trying to become involved with. By exploring many different channels in which to market their idea they were able to find the correct niche of the industry which they would most profit from. I really enjoyed the video they showed in the presentation which made me want to try it out!
Another presentation which caught my eye was Micasa. There idea was a good one from the start but in the end they realized that their target audience was backwards. They first focused their attention with the landlords but in the end were mainly servicing the tenants. Their presentation shows the transformation of the customer segments and the lessons they learned along the way which I thought was a good thing to show to their potential customers. They also presented their value propositions as target goals which they believed they could be #1 in each of them above their competitors, very driven approach.
Finally I enjoyed the GameSpeed presentation. Although very short I liked their product. Targeting young athletes enables these kids to develop their skills at a younger age if they wanted to pursue a career in professional sports or if they just want to be health conscience. I thought interacting with 4,000 customers was an impressive feat considering the other presentations did not come close to this number. They also did a great job presenting a step by step analysis of their business model using important statistical data, especially connecting with their target market in order to find what feasible approach to take.
Lessons Learned
- Showing the progression of the business model can be an effective tool and it shows how much change can occur when trying to find an appropriate model.
- Clearly defining and presenting an example of your customer allows some to relate their own characteristics.
- It is OK to be wrong in early stages of development as long as you can formulate better solutions to fix these failures for the future. Most ideas don't work out perfectly.
- Presenting tests and results, even if they don not work out in your favor, is a great way to let your potential customers know that you have explored a number of options before reaching your final conclusion.
- DO NOT put a slide like the 16th slide of the Micasa presentation!!! This slide was absurdly confusing and just looks unprofessional.
- Research is the most important tool used by all of these presentations. None of these teams would have been able to make their conclusions without the research they conducted. Researching enabled these teams to more properly define their consumer base, value propositions and what channels to utilize for their startups.
Monday, February 11, 2013
Inside Intel Inside
Youngme Moon
The Intel brand has established itself as a distinguishable name in the computing market. Their focus was to make Intel's brand recognizable as being safe (reliable) and a leader of technology. Through the use of different marketing experiments and campaigns, Intel was successful in creating an umbrella brand that would span across many generations of products. In 2002, Pamela Pollace was faced with a dilemma regarding the Intel brand. As Intel's V.P. and director of worldwide marketing operations, Pamela was researching the potential expansion of Intel's brand into the mobile computing market segment. Her main focus was to continue to protect, preserve and build the brand equity. There were many risks involved with delving into the mobile market but also had the opportunity for Intel to continue to produce quality products with its brand label.
Key Issues with Suggested Solutions
Extending the "Intel Inside" brand. Intel has been the market leader in microprocessors but has yet to expand into different product categories. Pamela Pollace stressed the fact that "Intel Inside" success has been accredited to the technology to back it up. Intel's products match their brand assurance as the best in the biz. Exploring new product categories that Intel's technology teams haven't been associating with becomes a risky endeavor. Proper research of these new markets and potential new product technology will better assist the extension of the Intel Brand.
Possible dilution of Intel's brand. Intel's presence in the PC market is insurmountable. Will expansion to other markets really damage its brand equity in the PC market? It is a possibility because any new products that Intel uses its name with has the potential risk to damage if these products have defects or fail in the eyes of consumers. Intel must ensure that their brand for the PC market not be affected by expansion into these new market segments.
Best marketing strategy to use for potential expansion. Intel's expansion into new markets must be met with caution. So far, Intel is known for it's high quality and reliability so their new product extension has to make sure these attributes are being held up. As stated in the case, Intel was looking to partner with Microsoft to make advancements in the mobile computing market that they can create a standard template in which to work with. Familiarizing Intel's technology teams with the new cell phone technology from the start will allow them to feel positive about the products they are placing their name on.
Seller's Viewpoint
Intel currently only has a 1% market share of the mobile computing segment.We'll need to fight an uphill battle in order to make a name for ourselves in this market. Do we use, and risk damaging, the existing Intel Inside brand in an attempt to rally sales?
Buyer's viewpoint
Intel is the no doubt the leader in desktop computing. Their processors have maintained themselves as the industry leader since their inception. Intel has yet to expand into the mobile computing segment but I would definitely be intrigued to see what products they place their brand name on. I'm sure it will be a success for Intel.
Youngme Moon
The Intel brand has established itself as a distinguishable name in the computing market. Their focus was to make Intel's brand recognizable as being safe (reliable) and a leader of technology. Through the use of different marketing experiments and campaigns, Intel was successful in creating an umbrella brand that would span across many generations of products. In 2002, Pamela Pollace was faced with a dilemma regarding the Intel brand. As Intel's V.P. and director of worldwide marketing operations, Pamela was researching the potential expansion of Intel's brand into the mobile computing market segment. Her main focus was to continue to protect, preserve and build the brand equity. There were many risks involved with delving into the mobile market but also had the opportunity for Intel to continue to produce quality products with its brand label.
Key Issues with Suggested Solutions
Extending the "Intel Inside" brand. Intel has been the market leader in microprocessors but has yet to expand into different product categories. Pamela Pollace stressed the fact that "Intel Inside" success has been accredited to the technology to back it up. Intel's products match their brand assurance as the best in the biz. Exploring new product categories that Intel's technology teams haven't been associating with becomes a risky endeavor. Proper research of these new markets and potential new product technology will better assist the extension of the Intel Brand.
Possible dilution of Intel's brand. Intel's presence in the PC market is insurmountable. Will expansion to other markets really damage its brand equity in the PC market? It is a possibility because any new products that Intel uses its name with has the potential risk to damage if these products have defects or fail in the eyes of consumers. Intel must ensure that their brand for the PC market not be affected by expansion into these new market segments.
Best marketing strategy to use for potential expansion. Intel's expansion into new markets must be met with caution. So far, Intel is known for it's high quality and reliability so their new product extension has to make sure these attributes are being held up. As stated in the case, Intel was looking to partner with Microsoft to make advancements in the mobile computing market that they can create a standard template in which to work with. Familiarizing Intel's technology teams with the new cell phone technology from the start will allow them to feel positive about the products they are placing their name on.
Seller's Viewpoint
Intel currently only has a 1% market share of the mobile computing segment.We'll need to fight an uphill battle in order to make a name for ourselves in this market. Do we use, and risk damaging, the existing Intel Inside brand in an attempt to rally sales?
Buyer's viewpoint
Intel is the no doubt the leader in desktop computing. Their processors have maintained themselves as the industry leader since their inception. Intel has yet to expand into the mobile computing segment but I would definitely be intrigued to see what products they place their brand name on. I'm sure it will be a success for Intel.
Monday, February 4, 2013
Siebel Systems: Anatomy of a Sale, Part 1
John Deighton
Das Narayandas
Siebel Systems was founded by Tom Siebel and since its inception has stressed the importance of customer satisfaction. Over time Siebel was able to develop a system of fundamental core values in which employees could use to better understand what Sibel Systems stood for. Emphasizing customer satisfaction, professionalism, professional courtesy and bias for action, Siebel Core Values allowed the company to achieve significant CRM (customer relationship management) market leadership by focusing on products driven solely by customer needs. This case presents a dilemma within Siebel Systems where Gregg Carman has trouble following Siebel Core Values to try and sell a CRM system to Quick and Reilly, a discount stockbroker. When first introduced to the VP of client services, Cathy Ridley, and the VP of marketing from Quick and Reilly in a trade show in New York, Carman's unsteadiness is revealed. Carman's lack of knowledge of Quick and Reilly and their reps makes this a difficult sell.
Key Issues with Suggested Solutions
Carman's Approach to Selling. Carman describe his approach to selling as "subtle and professional". His subtle attitude certainly reigned supreme as while engaging with Quick and Reilly. When he didn't catch the reply regarding how many users the system will need he just let it go, unacceptable. This is important information that could potentially affect the sale, a part of the methodology Carman said was essential. He also admits that he didn't know much about Quick and Reilly to begin with! This is another aspect of the methodologies of Siebel's targeted account selling process that Carman neglects.
Carman's repsonse to the Oracle question. When asked about Oracle Carman simply says, 'they are worth looking at' then moves on. Carman has a report from a respected industry analyst firm, Gartner Research, which highlights how Siebel Systems as the only vendor with both a complete CRM solution and the ability to execute large-scale projects. The report also shows Oracle to have incomplete point solutions and limited execution skills in the CRM space. Why not show this to the Quick and Reilly reps? I thought it was a smart move by Carman to keep the report from the reps because as he stated he would rather know the client better. Carman could have blown the sale if the reps felt showing them the report was unprofessional.
Carman's Viewpoint The case does not reveal the outcome with the interaction between Carman and the reps from Quick and Reilly. It does give you a sense of where Carman believes he is at with the sale. His focus on breaking down the customer-to-vendor atmosphere makes him feel that the business is now his to lose. His mentality switches to three prime objectives to making this sale a reality:
1.) Prove to them that Siebel had a superior product.
2.) Convince them that Siebel would collaborate with them to make the system work.
3.) Meet the right set of executives at Quick & Reilly.
Quick and Reilly's Viewpoint During the entire presentation Carman doesn't try to badger the reps with question after question. Once he understood that we didn't really know what systems were out there to meet our needs, he showed us a demo that really caught our eye. Even when asked about a competitor he advised us to check it out probably to gain a better idea of the different options of CRM solutions available. His overall presentation and professionalism to help us better comprehend what system our company needs was exceptional.
Subscribe to:
Posts (Atom)