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LAMP Marketing Class

LAMP Marketing Class. Carlton C. O’Neal Principal Aspiration Marketing. Who Invented Marketing? When Did It Happen? Why Did It Happen?. Section I. Marketing Overview— T he 4 P’s (30 Minutes; 1:00-1:30). Product -Being Market Driven Price -Maximizing Revenues, Profits

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LAMP Marketing Class

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  1. LAMP Marketing Class Carlton C. O’Neal Principal Aspiration Marketing

  2. Who Invented Marketing? When Did It Happen?Why Did It Happen?

  3. Section I. Marketing Overview—The 4 P’s (30 Minutes; 1:00-1:30) Product-Being Market Driven Price-Maximizing Revenues, Profits Promotion-Getting the Word Out Place-Leveraging Other Companies

  4. The Marketing Mix

  5. 1. Product—Being Market Driven • Marketing Doctrine (Tenets of Product) • Benefits, Features, Functions (Pen Example) • Address Market Discontinuity--Unserved or Underserved Market (Technological Innovation?) • Competitor Analysis • Detail Products of Existing Market Participants • Identify Alternatives Including ‘Do Nothing’ • Market Segmentation • Map Customers with Common Requirements • Marketing Mix for Each Segment • Product Roadmap with Minimum Feature Set

  6. 1. Product—Being Market DrivenWhere does each Logo go?; Map your own Co Market Driven Customer Driven Technology Driven

  7. 2. Price—Maximizing Revs, Profits • Marketing Doctrine (Tenets of Price) • Strategy, Structure, Price • Competitor Analysis, Positioning • Price Elasticity of Demand • Market vs Cost Based Pricing • Competing on Price • Channels vs Direct • Discounting, 1st/2nd Degree Price Discrimination • Morning Coffee Example

  8. 2. Price—Maximizing Revs, Profits Where does each Logo go?; Map your own Co Max Revs, Profits Revenues Profits

  9. 3. Promotion—Getting the Word Out • Marketing Doctrine (Tenets of Promotion) • Branding/Packaging • Advertising • Public/Media Relations • Tradeshows/Conferences • Giveaways • Loyalty Programs • Competitor Benchmarking, Industry Norms • Follow?

  10. 3. Promotion—Getting the Word Out Where does each Logo go?; Map your own Co Best Strategies, Execution

  11. 4. Place—Leveraging Other Companies • Marketing Doctrine (Tenets of Place) • OEMs • Distributors (Credit, Inventory) • VARs (Value Added Services, Combined Products, Systems Integration) • Retailers • Competitor Benchmarking, Industry Norms • Follow?

  12. 4. Place—Leveraging Other CompaniesWhere does each Logo go?; Map your own Co OEMs/Distributors Direct Retailers

  13. Overview—Summary, Conclusions Product-Being Market Driven Price-Maximizing Revenues, Profits Promotion-Getting the Word Out Place-Leveraging Other Companies

  14. Section II. Right Product, Right Place, Right Time (60 Minutes; 1:30-2:30) • Introduction • Discussion of HBS Case: Crafting Winning Strategies in a Mature Market: The U.S. Wine Industry in 2001 • Current State of the Market • Competitors • Customers/Segments • Distribution Channels • Best Strategy/Marketing Mix to Enter It (or Not!) • Product, Price, Promotion, Place

  15. Section II. Wine Industry Part A Describe the Current Industry. How Attractive is It? Should a Company Enter? With What Strategy? What Should Current Companies do in this Market?

  16. Section II. Market Map-Fill In

  17. Section II. Should We Enter Mkt? Describe the Current Industry. How Attractive is It? Should a Company Enter? With What Strategy? What Should Current Companies do in this Market?

  18. Section II. Alternative Strategies-Fill In

  19. Section II. Incumbent Strategy Describe the Current Industry. How Attractive is It? Should a Company Enter? With What Strategy? What Should Current Companies do in this Market?

  20. Section II. Final Questions • What would be your positioningvs competition? • Can you simultaneously de-position them? • How would you grow sales (demand for sales)? • If you start at the high end as a niche player? • What if you are a large incumbent? • How would you reconstruct the industry? • Breaking the tension between features/cost?

  21. Break 2:30-2:40

  22. Section III. Positioning: Competitive Analysis and Differentiation(60 Mins; 2:40-3:40) • Introduction • Discussion of HBS Case: Crafting Winning Strategies in a Mature Market: The U.S. Wine Industry in 2001 • Current Elements of Industry Competition • Casella’s Reconstruction of the Industry • Apply the Four Actions Framework (ERRC) • Competitive Response • Applying the Concepts to Technology Companies

  23. Section III. Wine Industry-Part B • What are the Current Elements of Industry Competition? • Product, Price, Promotion, Place • How Long has the Industry Competed on These?

  24. Section III. Questions • How can Casella Reconstruct the Industry to Unlock Noncustomers? • How can they Implement their Marketing Strategy? • What can they Eliminate? • What canthey Reduce? • What can they Raise? • What can they Create?

  25. Section III. Implementing the 4Ps

  26. Section III. Applying to Technology Cos • How Might These ConceptsApply to (your) Technology Companies? • Market/Industry Analysis • Current Elements of Competition • Differentiation-Price Tension • Reconstructing the Industry • Eliminate, Reduce, Raise, Create

  27. Break 3:40-3:50

  28. Section IV. Friend and Enemies: Choosing the Right Partner (60 Mins; 3:50-4:50) • Introduction • Discussion of Partnership Strategies in HBS Case: TiVo 2007: DVRs and Beyond • What was the company’s original partnership strategy? • What is the CEO’s vision for the future? • What Partners are necessary to be successful? • What are the potential issues/conflicts? • Summary and Conclusions

  29. Section IV. TIVO Partnership Strategy • What was TIVO’s original partnership strategy? • How/why did it evolve? • What should it be in the future? • Do you support Rogers’ vision? • What partners are required? • Whatever strategy you pick, show how it helps the Partner’s strategic vision • Also consider any market conflicts that might be created (for you or your partner)

  30. Section IV. Partnership Timeline-Fill In

  31. Section IV. Industry Ecosystem-Fill In

  32. Section IV. Partnership Matrix-Fill In

  33. Optional Break 4:50-5:00

  34. Section V. Sales and Business Development(20 Mins; 5:00-5:20) Interactive Sales Game with Role Playing Discussion of Negotiation and Who Closed the Deal! Summary and Conclusions

  35. Section V. Interactive Sales Game Acme Inc. makes/sells 2 million Electronic Meter Readers annually for about $250 each. Within each meter there is a wireless PCB that Acme currently buys from Basic Wireless Inc. Chip Supply, a billion dollar company, would like to begin selling to Acme immediately. Each of you is either the Purchasing Manager for Acme or the Sales Manager for Chip (based on your individual profile cards). You have 5 minutes to strike a deal! BE CREATIVE! USE GOOD BUS JUDGMENT!

  36. Section VI. Review and Conclusions(10 Mins; 5:20-5:30) SUMMARY AND CONCLUSIONS DISCUSSION

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