HS285: Marketing Management Class Two May 30, 2013 Beth Goldstein
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HS285: Marketing ManagementClass Two
May 30, 2013
Beth Goldstein
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• Lucky By Design • SMART Goals• Henry Heinz Case• Concept pitches and
selection of teams
Today’s Class
Click to edit Master title styleLucky By Design: Chapters 1 – 11
Joanna Alberti – Philosophies
Click to edit Master title styleLucky By Design: Chapters 1 – 11
Rob Olney, ETM Manufacturing
Click to edit Master title styleLucky By Design: Chapters 1 – 11
Dr. Joseph Jabre, TeleEMG
Success Rate (PDMA Research)
Clarity Increases Your Chance For Success!
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Specific
Measurable
Actionable
Realistic
Time-Based
S.M.A.R.T. Goals
Doubling in size every 2-3 years is NOT a SMART Goal
Click to edit Master title styleS.M.A.R.T. Goal
Increase revenue 50% next yearx
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Increase profit 20% from a specific customer group by the end of June 2013 by launching a new service that market research proved my customers need and will pay for.
S.M.A.R.T.
Click to edit Master title styleWorksheet 2.1
SMART GoalWhat’s Your Single Most Important Goal?
Click to edit Master title styleHeinz Pickle Pin from World Expo Can you sell it?
To raise awareness for his stand at the Chicago World Fair, Heinz promised a souvenir to visitors: the "pickle pin". It's been called "one of the most famous giveaways in merchandising history.”
Click to edit Master title styleHeinz Case – Setting the Stage
Let’s review Supply Side Changes in the late 1800’s
ProductivityManufacturing/TechnologyCommunication & Transportation improvementsMass production of food/distributionBanking & credit availability
Click to edit Master title styleHeinz Case – Setting the Stage
Demand Side Changes• Rising incomes • Rapid urbanization • Population growth • Change in labor force • New consumption
possibilities
Click to edit Master title styleHeinz Case
What are the risks and obstacles involved in trying to create a market for processed food?
He started off with pickled horseradish, sold in clear glass bottles to market its high quality & purity to customers.
Click to edit Master title styleHeinz Case
What factors were critical to achieve for Henry Heinz to succeed in creating a market for his products?
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Where did Heinz get the information he needed to develop his business strategy?
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How would you assess Heinz’s strengths as an entrepreneur/businessman
Click to edit Master title styleStrengths
• Commercial imagination• Tons of energy• Sales talents• Strategic insights• Empathy for consumer concerns• Commitment to build an enduring empire
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• Lacked financial acumen • Inability to identify managerial talent• Control freak• Deal-making skills were inadequate
Click to edit Master title styleHeinz Case
Why did he fail in 1875?How did his bankruptcy influence his future business dealings?
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What role did branding play in Heinz’s strategy?What role will it play with your companies?
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What other modern brands would you compare to Heinz?
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What advice would you have given Heinz to strengthen his ability to grow his company?
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Click to edit Master title styleHeinz
What did they need to understand about their customers needs to change the design?
What do you think of their research technique?
How might this technique apply to your business?
Click to edit Master title styleOld Ketchup Packet…
Click to edit Master title style1.1 Million Likes
Click to edit Master title styleEvery Pitch Is An Opportunity
Click to edit Master title styleGet It RIGHT!
How do we decide if we like the person delivering a message?
Source: John Daly, U of Texas
55%38% 7%
•Body language •Tone of voice •Actual words The mystery of text
and email communication
“OOPs” revealed!
Click to edit Master title styleWho’s Paying Attention
Adults-Typical Attention Span
15 to 30 seconds
What did I just say???
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The Association of Cleantech Incubators of New England (ACTION) is New England’s leading network of cleantech incubators sharing the common goals of
Accelerating the growth and success of early-stage companies,
Strengthening the regional cleantech cluster,
Creating more green jobs in New England.
Challenge: Create a membership program designed to allow members easy access to meeting space, programs and service offerings called ACTIONPass
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We offer_____________________________ (unique competitive advantage) to ___________________________________ (target customer) To meet or satisfy the __________________ ______________________________ (customers’ need that your organization fulfills)We do this by providing ______________________________ (product/service description)
YOUR Business Concept Pitches
Click to edit Master title styleNext Class Assignment: June 4
Book: Lucky By Design: Chapters 12 – 14
Review Social Media Critique Assignment
Case: American Well: The Doctor Will E-See You Now
Worksheets Due (ONE per team):4.1: Identifying the Right Opportunities
12.1: Testing Your Customer Knowledge
Click to edit Master title styleSpecial Guest Speaker
Michael Hunter, Undersecretary for Business Development, Commonwealth of Massachusetts
Heller alum
Be prepared with questions!
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