Customers & Market Frieda Brioschi / Emma Tracanella [email protected] / [email protected] IED, 8 Nov 2016 Lesson 4/2016
Customers & Market
Frieda Brioschi / Emma Tracanella [email protected] / [email protected]
IED, 8 Nov 2016Lesson 4/2016
4. Customers & Market
Course program
1. Start-ups
2. Business Model & Canvas
3. Value Proposition Design
4. Customers & Market
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4. Customers & Market
Recap
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4. Customers & Market
Greetings from Dubai!
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4. Customers & Market
The Business Model CanvasDuring last lesson we discussed what is a business model and how fulfill a business model canvas, looking into each part:
• Value proposition
• Customer segments
• Channels
• Customer relationship
• Revenue streams
• Key resources
• Key partner
• Key activities
• Cost structure
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4. Customers & Market7 https://www.flickr.com/photos/osterwalder/7888051104/
4. Customers & Market
Value proposition templates
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4. Customers & Market
Messaging & Positioning
9 https://www.template.net/design-templates/psd/value-proposition-template/
4. Customers & Market
Essential levels
10 https://www.template.net/design-templates/psd/value-proposition-template/
4. Customers & Market
Target market
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4. Customers & Market
Target market
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• Who are your customers? Who will buy your product?
• People purchase products or services for three basic reasons:
• To satisfy basic needs.
• To solve problems.
• To make themselves feel good.
http://sbinfocanada.about.com/cs/marketing/a/targetmarket.htm
4. Customers & Market
Definition
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1. Look at your current customer base
2. Check out your competition
3. Analyze your product/service
4. Choose specific demographics to target
5. Consider the psychographics of your target
6. Evaluate your decision
http://www.successdesigns.net/articles/entry/how-to-define-your-target-market/
4. Customers & Market
Segmentation by demographics
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• Age: children, teens, young, middle, elderly • Location • Gender: male, female • Education: high school, college, university
• Income: low, medium, high • Marital status: single, married, divorced • Ethnic and/or religious background • Occupation • Family life cycle: newly married, married for 10 – 20 years, with or
without children.
http://sbinfocanada.about.com/cs/marketing/a/targetmarket_2.htm
4. Customers & Market
Segmentation by psychographics
15 http://sbinfocanada.about.com/cs/marketing/a/targetmarket_2.htm
• Personality
• Values
• Lifestyle: conservative, exciting, trendy, economical
• Social class: lower, middle, upper
• Opinion: easily led or opinionated
• Activities and interests: sports, physical fitness, shopping, books
• Attitudes and beliefs: environmentalist, security conscious.
• Behaviour
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Here’s the problem with target markets: They’re too big.
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Narrowing your target market
"Companies that try to be all things to all customers are sure to fail.”
• The Dangers of Being Unfocused
• Become an Expert in one Area (Starbucks!)
• Do the Market Research
• Tweak your Marketing
http://www.inc.com/guides/201104/how-to-narrow-your-target-market.html
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Matter of balancing
http://www.educationbusinessblog.com/2007/07/target_market_selection_1.html?p=42
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ReassessLook at Your Product or Service with a Fresh Light
• There are enough potential customers within your target audience?
• Will your target market benefit from your product or service?
• Will this target market see a true need for it?
• Can your target market afford your product or service? how frequently?
• Can you reach your market with your message?
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Kinds B2B B2C
http://plantostart.com/how-to-define-target-market-product/
4. Customers & Market21
B2B
Your business model is to make a product or service and charge other companies for using it.
The advantage of this model is that companies have money and they are willing to spend it on a product/service, which improves their daily operations, helps them sell more or communicate better.
Google, Cisco, MySQL and others are using this model.
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B2C
Your business model is to make a product or service and charge consumers for using it. Even though most people think this is a very profitable model, most often companies need to have at least hundreds of thousands of users in order to earn enough money to maintain and expand the business.
This model is being used by Starbucks, McDonald’s, Amazon and others.
4. Customers & Market23 https://petovera.com/b2b-v-b2c-content-marketing-which-is-the-best-approach-for-your-audience/
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H2H?
http://www.hellosoutherly.com/what-does-h2h-instead-of-b2b-b2c-mean-for-business-storytelling/
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B2B Vs B2C e-commerce
http://blogs.bazara2z.com/b2b-e-commerce-not-b2c/
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Case study: Creography
http://www.thismarketerslife.it/digital/cronache-campagna-crowdfunding-great-meetings-notebook-creography/