Smu Proving Ideas 050809

Ideas: Concept to Reality
Turning Ideas into Products … That Make Money

Mike Holt
Tel: +65 8126 7748
US/Singapore: +1-949-480-9271
Skype ID: mikeholt93
www.get2volume.com | mholt@get2volume.com

© 2009 Get2Volume
Turning technology into cash

Topics

• Prototype Process Testing our strategies,
• Product Life Cycle ideas and products with
• Market Strategy the market via customer
• Product Planning feedback
• Execution Strategy
All of this is really just another
name for product marketing

2 © 2009 Get2Volume

Prototype Tools

Semiconductor:
FPGA

Simulation

Mock Ups

Buzz and Feedback

Rapid Prototyping

Roadmaps
Web Collaboration


Feedback Approaches

• WOMM
• Online Surveys
• Internet Analytics
• Seeding


WOMM (Word of Mouth Marketing)


Leadership and Organization

• “Feedback” and Early Failure Mindset
• Measureables and goals consistent with customer
product feedback process


Marketing Review


Factors Influencing Market Driven Strategies
Partners

Demographic Technology
and Economic Environment
Marketing
Environment
Planning
Market
System
Information
System Product
Solution

Suppliers Placement Price Public
Access Value

Marketing Promotion
Information
Control
Marketing
System
Political and Organization
Socio-
Legal and Implementation
Cultural
Environment System
Environment
Competitors


Positioning

Corporate image and product
positioning are different
Predictive Modeling
Product positioning facilitates : •Marketing that learns
– Defining of the product •Accept consumer preference
– Determining the best price
•Consumer privacy, let them
– Finding the best place to sell
– Determine the best way to opt‐in
promote and communicate to
customers

Market Segmentation is critical
to proper product positioning
Internet
Paradigm


Product

• Branding Personalization
• Styling •Listen to consumers
•Give consumers
• Functionality
choice
• Quality •Make it all relevant
• Packaging
• Support Participation
• Warranty •Create an environment
• Service •Build communities
•Reward participation
Internet
Paradigm


Price

• Pricing strategy
• Retail Pricing
• Wholesale pricing and
Discounts
• Cash Pricing
• Seasonal Pricing
• Channel Pricing Intro Growth Maturity Decline EOL

Cost Based Pricing

Product Cost Price Value Customer

Value Based Pricing

Customer Value Price Cost Product


Place

• Distribution channels
• Market coverage Participation
• Geographic coverage • Create an
• Logistics and supply chain environment
• Warehousing and Inventory • Build communities
Management • Reward participation
• Order Processing

Internet
Paradigm


Promotion

• Promotional strategy Peer to Peer
• Advertising •Marketing messages are social
• Sales Channels promotions •Messages are more valuable and
trusted
• PR and Marketing Budgets
•Make things easier to share

Internet
Paradigm


Protoytping (Customer Feedback) should occur
through the product lifecycle

• How do you test new ideas?
• How do you define product requirements?
• How do you seek and respond to customer feedback during
development?
• How do you verify that the product is right after development?


Product Lifecycle

Prelaunch: Product Production
• Market strategy Development Validation EOL
• Product Concept Definition Release
• Product Justification
• Resource Commitment

• Test via feedback throughout the product lifecycle
• Prototype allows customers to provide specific,
actionable feedback
• Conjoint analysis allows the marketeer to understand
customer priorities and trade offs


Technical/Product Marketing Process

Market Strategy
1. Market Assessment
2. Needs Identification
3. Customer Care-Abouts Market Player
4. Market Segmentation Iteration
5. Value Proposition
Technical
Product Planning Marketing
Process is About
1. Product Roadmap/Definition Target Customers
2. Customer Validation Iteration Creating and
3. Product Justification Communicating
Value
Development and Introduction
1. Development “Teacher Customer”
2. Measurement Involvement
3. Promotion


Product Lifecycle: Prelaunch Prototyping


Prelauch: Prototyping Your Strategy, Business Model and Idea
– Roadmaps
– Market vision and focus feedback
– Justification: costs and Resources


Market Segmentation

Market Segmentation
• Identify key market attributes Attributes Market
Importance
Measureable

based on customer care abouts Price
Processor Speed
• Determine importance of Battery Life

attributes Size
Reliability
• Test segmentation Cost of
ownership

• What are the market
characteristics of each
segment?
• Which segments are attractive
to you?

Battery Life Battery Life


Defined Value Proposition
Needs Identification
What is the critical problem to be solved in
the market?
• Match Capabilities (Now or Why is this a Critical Problem?
Planned) to Identified Who will pay a premium price if this is
Market Need solve?

What is the underlying value creation
• How do you compare with proposition?

competitors, alternative
approaches?
• What complementary
approaches exist?
• How is this market
changing?


Market Assessment Tools and Approach

Proof of Demand
• TAM (Total Available
Market)
• Growth Rate


Technical Marketing Tools
Phase Question Answered Tool/Approaches
Is this a market I should be in? MAP (Market Assessment Process):
Market Assessment 1) Proof of Demand
2) Industry Dynamics
3) Value Proposition
4) Strategy
5) Financial Implications

Needs Identification What is the pain to be solved? Opportunity Shaping Sheet

Customer Care Abouts
What is most important to customers by Attribute Ranking Sheet
segment (as measured by what they are
willing to pay for)

How is the market segmented (based on Market Segmentation Matrix
Market Segmentation attribute ranking)?

Defined Value What segment do I add the most value to? Self and Competitive Capability Assessment
Proposition What must I do to be differentiated? SWOT Analysis

Product Definition What products will win? Product Roadmap
Cost/feature rankings

Customer Validation Who will buy?
Customer tracking and feedback sheets
Product Justification Does this development meet my business Cost model
objectives Break even analysis
Forecast
Metrics
Development How do I deliver? Development plan

Promotion How do I communicate value? MARCOM/PR Communications Plan


Needs Identification

• Identify Critical Problems Needs Identification
What is the critical problem to be solved in
• Test with the market: the market?

– Is this a real problem? Why is this a Critical Problem?

– If this problem were solved, Who will pay a premium price if this is
solve?
what is the impact?
What is the underlying value creation
proposition?


Product Marketing Review and Exercise


Product Lifecycle: Product Definition Prototyping


Product Definition: Prototyping Your Product Plans
– Customer product definition reviews
– Trade offs via conjoint analysis
– Cost analysis: testing pricing+feature trade offs with customers
– Teacher Customer as “Prototype Partner”


Product Definition

• Identify ranked list of
potential customers
– Strategic customers?
– “Teacher Customer”?

• Sponsored development
proposals


Customer Care Abouts

• Methods:
– Talk with representative customers
– Surveys
– “Word of Mouth Marketing”
– Test marketing programs
• Ensure measureable
• Ensure that there is a trade off
that is tested
– For example, everyone wants low
Focus on Benefits not
price. What will you give up for
low price? Features


Product Lifecycle: Product Models Prototype


Development: Prototyping Your Product
– Prototype feedback strategy: what questions need answered
– Simulation and design reviews
– Specification modeling: alignment with customer specifications


Product Lifecycle: Product Prototype


Validation: Prototyping Your Customer Product
– Co testing with customers and actual product


Product Lifecycle: Customer Use Feedback


Production Release: Making the Product Real to End Customer
– Phased release process
– Defined feedback
– Defined product success factors, metrics
– Customer quality review process


Product Release

• Phased Product release process

• Managed feedback to test production worthiness


Thank you

To download marketing tools: www.askthesgentreprenuer.com

Contact Us at:
Mike Holt
Tel: +65 8126 7748
US/Singapore: +1-949-480-9271
Skype ID: mikeholt93
www.get2volume.com | mholt@get2volume.com


About Us

About Get2Volume
Now more than ever, success in Asia determines global success.
Technology companies – even the smallest – are global companies that
must address complex problems with markets, suppliers, customers,
partners and employees in the US as well as in Asia. With over 20 years
experience in Asia and the US, we understand the people, the business and
political environments, and markets that shape technology companies.
This experience allows us to solve business problems in a way that goes
well beyond generating ideas – it focuses on improving results by providing
an executive team on the ground where you need results. We combine
executive management experience in technology, software, semiconductor,
secure payment, and information security companies with success;
assisting established companies and leading startups from concept
through rapid growth and profitability.

Asia-US Bridge Company Stage Sectors
• Semiconductor
• Singapore/SEA • Start Up
• Internet
• California • Growth
• Consumer Electronics
• Regional MNC Focus
• Security
• Biometrics


Appendix


Product Planning Process
1. Idea Generation
– SWOT analysis (OPPORTUNITY ANALYSIS), Market and consumer
trends, company's R&D department, competitors, focus groups,
employees, salespeople, corporate spies, trade shows,
2. Idea Screening
 Will the customer in the target market benefit from the product?
 What is the size and growth forecasts of the market segment/target
market?
 What is the current or expected competitive pressure for the product idea?
Product and  What are the industry sales and market trends the product idea is based
Roadmap 
on?
Is it technically feasible to manufacture the product?
Definition  Will the product be profitable when manufactured and delivered to the
customer at the target price?
3. Concept Development and Testing
o Develop the marketing and engineering details
 Who is the target market and who is the decision maker in the
purchasing process?
 What product features must the product incorporate?
 What benefits will the product provide?
 How will consumers react to the product?
 How will the product be produced most cost effectively?
 Prove feasibility through virtual computer aided rendering, and rapid
prototyping
 What will it cost to produce it?


Product Planning Process - cont

1. Business Analysis
o Estimate likely selling price based upon competition and customer
feedback
Justification and o Estimate sales volume based upon size of market
o Estimate profitability and breakeven point
Customer Validation 2. Beta Testing and Market Testing
o Produce a physical prototype or mock-up
o Test the product (and its packaging) in typical usage situations
o Conduct focus group customer interviews or introduce at trade show
o Make adjustments where necessary
o Produce an initial run of the product and sell it in a test market area to
determine customer acceptance
3. Technical Implementation
o New program initiation
o Resource estimation
o Requirement publication
o Engineering operations planning
Development o Department scheduling
and Introduction o
o
Supplier collaboration
Logistics plan
o Resource plan publication
o Program review and monitoring
o Contingencies - what-if planning
4. Commercialization


Smu Proving Ideas 050809

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