Modern Marketing Strategy

07/28/2016 00:06:00 to watch
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Knowing who your customer is, what problem your product or service solves, and why it is important to your customer is an essential first step in developing a sound marketing strategy.

Suggested Readings

Founders School || Entrepreneurial Marketing || Modern Marketing Strategy || Impact Guide (PDF).

Moore, Geoffrey A. 2014. Crossing the Chasm; 3rd Edition: Marketing and Selling Disruptive Products to Mainstream Customers. HarperBusiness.

Moore, Marion and Richard Helstein. Positioning: The Essence of Marketing Strategy. Harvard Business Review Industry and Background Note, March 16, 2009.

Doug Stayman.  Blog Post.  “How to Write Market Positioning Statements”.  Cornell University Johnson Graduate School of Management.

Kauffman Founders School, The Lean Approach, all modules, Steve Blank.

Questions for You

What makes my product or service special?

What does our brand stand for?

Who are my target customers?

What problem am I solving?

Do I know who my competition is? Am I thinking too narrowly? Remember competitors include ‘status quo’ and adjacent industries (e.g. cars as competition to an airline).

What does my product do? Think in terms of customer benefits, not just product features.

Of the customers who would use our product, which customers would view our product as a nice to have? Which would see it as a must have?

What are the breakthrough capabilities of my product or service?

What’s the benefit to my customer?

Questions for Your Team

What makes our product or service special?

What does our brand stand for?

Who are our target customers?

Of the customers who would use our product, which customers would view our product as a nice to have? Which would see it as a must have?

What problem are we solving?

What does our product do?

What are the breakthrough capabilities of our product or service?

What’s the benefit to our customer?

Tools and Exercises

Does everyone on the team have the same answer to all the questions above? If the answer is yes, then codify the answers. If not, conduct a work session to inventory all the answers and develop a common view. Ensuring there is internal alignment is critical to presenting one unified voice to your customers.

Codify your answers by completing your positioning statement.

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