Business model marketing course 5

advanced course business model

marketing

Session 6

business model

strategy

Now that you created a new business model...

What does it mean for the marketing strategy?

so what is a marketing strategy?

Blue ocean strategy (a company strategy)

Red  ocean   Blue  ocean  Exis%ng  markets   New  markets  

Current  customer  segments   New  customer  segments  

Heavy  compe%%on   No  compe%%on  (for  now)  

Very  li>le  to  no  space  on  the  market   Infinite  market  space  

Exis%ng  market  rules   Developing  new  market  rules  

No  real  innova%ons   Value  innova%ons  

Killing  compe%%on:  the  blood  that  flows   Infinite  open  space:  The  blue  depths  of  the  ocean  

Blue ocean strategy

-creating completely new industries (blue oceans)

-by fundamental differentation -creating value innovation (creating new benefits+services, reducing costs by remong less valuable features+services)

-use of the ‘four actions framework’

Four actions framework 1.  Which of the factors that the

industry takes for granted should be eliminated?

2.  Which factors should be reduced well below the industry standard?

3.  Which factors should be raised well above the industry standard?

4.  Which factors should be created that the industry never offered?

testing Business models

Is the new business model ready to stand up against it’s

environment?

theoretic models to use

Business model environment

-market forces -industry forces -key trends -macro-economic forces

Market forces

-market issues -market segments -needs and demands -switching costs -revenue attractiveness

Industry forces (porter)

-competitors -new entrants -substitute products -suppliers and others -stakeholders

Key trends (destep)

-technology trends -regulatory trends -societal and cultural trends -socioeconomic trends

Macro economic forces

-global market conditions -capital markets -commodities and resources -economic infrastructure

Business model evaluation

-Business Model Assessment -SWOT-analyse

business model

presentation

presentation.. -how are you going to tell a convincing story?

presentation.. -visualizing with drawings -visualize with post-it’s -telling a visual story (p. 158/159) -prototyping: sketch, BM-canvas, excel calculations, market research? (p. 165)

storytelling.. -introducing new ideas -overwinning resistance by telling a clear story -good stories clarify the BM-canvas -good stories involve listeners -good stories are told to others

of video.. Link

use your business model canvas!