Transcript Dream team

DREAM TEAM
Start-up Entrepreneurship Project
PRIMARY AIM OF THE PROJECT
• Gain an understanding of the basic issues that have to be addressed when
starting your own online business.
THE TASK
• Develop a proposal to create an online start-up company (report)
• Develop a proposal strategy for launching an online start-up
business/company that offers a product and/or service to consumers.
• The launch needs to be international (the web knows few boundaries).
• It does not need to be just one product/service, it may be a multiple product
line.
• You have a lot of freedom in picking your business – seize on your opportunity to
pick wisely, have mercy on your fellow students and instructors and make it
interesting, exciting.
• Design a presentation outlining an overview of the strategy you would
employ (team presentation)
LOGISTICS
• Students in Stam’s class and NOT in Troy’s class: those of you whose primary
task is to develop the internet strategy of your start-up company. We’ll call
you the CIOs (Chief Information Officers).
• Students in Troy’s class and NOT in Stam’s class: those of you who are
primarily in charge of the marketing strategy of your start-up company. We’ll
call you the CMOs (Chief Marketing Officers).
• Students in both Stam and Troy’s class: those of you who are primarily
responsible for the affective communication between the CIOs and CMOs.
We’ll call you the CCOs (Chief Communications Officers).
STARTING THE PROJECT
• The project will incorporate all of the stages a regular company would
review when going through the process of setting up.
GUIDING QUESTIONS
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What/Who is the company?
What do they offer?
What is your unique selling point (USP)?
Who are your target market?
How will your target market perceive your product?
What is your marketing strategy?
What is your communication strategy?
How will you structure your website?
How are you going to deliver your product?
How will you sustain a competitive advantage?
LETS GET STARTED!
THINK ABOUT TRENDS
TREND VERSUS FAD
• Trend: Direction of consumer behaviour with
long-term momentum and durability which
has relevance across product and industry
boundaries and to the mainstream market
• Fad: Direction of consumer behaviour over a
short period of time with relevance in
specific product categories for a niche
market – increased levels of popularity over
a short period of time
HOW TO CHOOSE A COMPANY
• Needs
–Food (is a must)
• Wants (based on our experience)
–Pizza
• Demands (based on our willingness and desire to purchase)
–We can, or cannot afford to purchase the pizza
• Desire
–Pizza in 5star hotel/specific brand
TREND VERSUS FAD
WHAT ABOUT A MEGATREND?
TRANSFORMATION THROUGH
TECHNOLOGY
INCOME SEGMENTATION
• Income polariseation
• Shifting attitudes towards luxury products
INCREASED AWARENESS
• Environmental
• Social
CHANGING LIFESTYLES
• Age complexity
• Gender complexity
• Lifestyle complexity
TRAVEL AND HOLIDAYS
• Connectivity
• Comfort
• Sensory
ONLINE SHOPPING
HEALTH AND WELLNESS
•Holistic wellbeing
–Organic/Natural/wholesome
•Allergen/intolerance
–Self-diagnosis
–Fad/diet linkages
•Lifestyle/non-communicable disease
–Functional foods
CONVENIENCE
•New eating occasions
–Time stressed
–Product availability
–Snacking habits
–Readymade homemade
•Technological advances
–Packaging
–Anywhere/anytime
CHOOSING YOUR COMPANY
• Which megatrends do they tap in to?
To digitalise or not to digitalise,
that is no longer the question.
Remember the Market Trends?
• How have these impacted upon the development of
digital marketing?
• How have the affected our daily lives?
Think relationship marketing
Werthers 1
Werthers 2
Integrated Marketing Communication Strategies
allow us to take relationship marketing to the next
level
GAP ANALYSIS
WHERE DO YOU FIT OR WHAT CAN
YOU CHANGE
Large gaps existed between
consumer perception and
scientific reality
Small gaps existed between
consumer perception and
scientific reality
General agreement existed
between consumer
perception and scientific
reality
CREATING/INVENTING A MARKET
CATEGORY
New Category/Re-invented category
• Is this necessary?
Customer Needs
Sales/Stats
CONSUMERS’ VIEWS ON THE DAIRY MARKET
Three market segments within the dairy category
• Commodity
Commodity-type Products
• Functional
• Indulgent
Products that clearly fit into a specific market segment allow for clear positioning
strategies that will maximise consumer acceptance
DETERMINING A PR STRATEGY
The Strategy
Large • Dairy fats are
generally bad
Gaps
Small
Gaps
• Dairy has too
much fat
• Dairy affects
allergies
• Dairy is good for
bone health
Agreement
• Dairy has natural
benefits
Long term PR Campaign
Education of
a category
Differentiated message s
around the positive and
negatives of dairy
General
marketing and
NPD
(removal of fat but
maintaining taste and
texture)
Emphasis on product
Education at
communication and
product level
product positioning
So what does this mean for the three market segments?
STRATEGIES FOR THE MARKET
SEGMENTS
Commodity Dairy
Functional Dairy
Indulgent Dairy
• “natural”
• “natural”
• “natural”
• NPD focused on fat
reduction
• NPD focused on
removal of negative
ingredients (fat) and/or
addition of positive
ingredients (probiotics,
metabolic health, bone
health)
• NPD focused on
tastiness of the
product
• Price-competitive
• convenience
• Indulgence in
moderation
DAIRY PRODUCT EXAMPLES:
YOGURTS
Commodity Dairy
Functional Dairy
Indulgent Dairy
KNOW YOUR CONSUMER
THE CONSUMER ACQUISITION
PROCESS
BACK TO YOUR QUESTIONS
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What/Who is the company?
What do they offer?
What is your unique selling point (USP)?
Who are your target market?
How will your target market perceive your product?
What is your marketing strategy?
What is your communication strategy?
How will you structure your website?
How are you going to deliver your product?
How will you sustain a competitive advantage?