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36 hours of lectures on
Product management in 25 Minutes
Most new products and services
will fail …

 – they fail is because:

    • we get lost in the thick of thin things
    • we build products and services no one cares about

 – worse yet, product successes are getting smaller

    • too much incrementalism
    • formula driven marketing vs. inspired marketing




                           Product Marketing              2
                            Bryan Cassady
Building successful ideas and
successful brands is hard work

• A study by Nielsen 862 packaged goods
  promotions. 50% no impact, less than 1 in 10,
  plus 10%

  – 90% of new products fail
  – Few companies have proven their advertising works




                       Product Marketing                3
                        Bryan Cassady
My personal view on marketing

• I think there are 3 types of marketers
   – Risk takers (they like the macho bit)
   – Risk reducers (they like getting house odds), but scare to act
   – Risk reducers ready to act…


• A good marketer will build a strategy that increases odds of
  success from
   – 10%
   – to 20%                   A great marketer will
   – to 50%
                              also do lots of stuff that fails



                            Product Marketing                         4
                             Bryan Cassady
“Let‟s make
sure we follow
the books…
A typical Marketing MBA

                          5
An interesting book…
   Counterintuitive Marketing
Studying brands in 48 categories




                                   6
Airlines                Gas Stations                 Mid-priced American Cars
Athletic Shoes          Haircare Products            Mid-priced Foreign Cars
Auto Insurance          Headache Remedies            Motor Oils
Banks                   Health & Fitness Clubs       Newspapers
Beers                   Home Entertainment Equip.    Office Supply Stores
Bookstores              Hotels                       Personal Computers
Bottled water           Household Cleansers          Pet Supply Stores
Catalog clothing        Internet Search Engines      Political Parties
Cigarettes              Internet Service Providers   Potato Chips
Colas                   Jewelry                      Rental Cars
Cold Cereals            Laundry Detergents           Soaps
Cookies                 Liquor                       Spaghetti Sauces
Cosmetics               Long-Distance Telephone      Toothpastes
Credit Cards            Luxury American Cars         TV Networks
Department Stores       Luxury Foreign Cars          Weight Loss Programs
Fast Food Restaurants   Major Household Appliances   Wireless or Cellular Tel.

                                                                          7
Out of 48 product categories,
  Brand Equity scores are:

    • Decreasing in   39
    • Stable in   5
    • Improving in only    4
                                8
M.B.A. stands for

“Murderer of Brand
     Assets”
In a connected world, little incremental steps
        are the slow death of a brand
                                                 9
“Learn not to
be careful.”
   —Photographer Diane Arbus to her students (Careful = “The
sidelines,” per Harriet Rubin in The Princessa)




                                                               10
Target ROI for a VC company
 Investment   Investment   Return      ROI    Cum_invest Cum_Return   Cum ROI
      1           100       2000     2000%       100        2000       2000%
      2           100        150      150%       200        2150       1075%
      3           100        100      100%       300        2250        750%
      4           100        100      100%       400        2350        588%
      5           100         50       50%       500        2400        480%
      6           100         50       50%       600        2450        408%
      7           100         25       25%       700        2475        354%
      8           100         25       25%       800        2500        313%
      9           100         10       10%       900        2510        279%
     10           100         10       10%      1000        2520        252%
     11           100          5        5%      1100        2525        230%
     12           100          4        4%      1200        2529        211%
     13           100          3        3%      1300        2532        195%
     14           100          2        2%      1400        2534        181%
     15           100          1        1%      1500        2535        169%
     16           100          1        1%      1600        2536        159%
     17           100          1        1%      1700        2537        149%
     18           100          0        0%      1800        2537        141%
     19           100          0        0%      1900        2537        134%
     20           100          0        0%      2000        2537        127%
   Totals           2000      2537     127%



 Throw out 4 losers and your ROI increases                            159%
 Throw out the winner and your ROI falls to                           -72%      11
“Let‟s make a
dent in the
universe.”
Steve Jobs
Apple Computer
                 12
Class Summary




Thoughts to leave with

                         13
Meaningful differentiation




    Is there something that
       makes you special
      Normal = nothing !
                              14
3 Laws of meaningful
differentiation
• Law # 1: An overt benefit
  – 1 maybe, 2 things better than anyone

• Law # 2: Real reason to believe
  – Credible, honest, memorable

• Law # 3: DRAMATIC difference
  – Not itsy bitsy differences, but something that sticks in
    people’s brains

  Example:          Student applications
                    and the 10,000 pound cookie


                         Product Marketing                     15
                          Bryan Cassady
Dramatic Difference is a the best predictor of success


  Dr. Robert Cooper
  Factors of Successful New Products

  #1 Unique Benefit
          (Dramatic Difference)                          218

  #2 Fit with Company                                    142
       (Resources, skills, abilities)

  #3 Large &/or Growing Market                           100

  McMaster University
  Hamilton, Ontario, Canada




                                                         16
Clarity in communication




  Your advertising needs to
   be as good as your best
          salesman            17
Every day

     YOU
        are
    bombarded
by up to 4,000 ads




                     18
Quick test...What is it?




                           19
Clarity




Confusion is not a good strategy for
success.
                                       20
Golden Rule of Clarity
   Let a customer say NO
   because what you offer
   doesn’t apply to them.

But NEVER let a customer say
         NO because
    they don’t understand
     what you’re offering.  21
First Law of Marketing Physics
source: 2002 Eureka! Institute

                            • Overt Benefit
              • You TRIPLE the effectiveness of
            • your marketing efforts by OVERTLY
           • communicating your customer benefit



      Overt Benefit Level                 Probability of Success

             Low Overt Benefit                     13%


         Medium Overt Benefit                             26%

           High Overt Benefit Product Marketing                    38%   22
                                   Bryan Cassady
Reason To Believe Story




3 Chefs - 3 Years -
World Cooking Competition Medalists




                                      23
Everything Sells




Are you offering, value,
 innovation or service
(you need to choose ! )    24
Everything you do with a brand is selling…




                                        25
1 + 1 + 1 + 1 = Beauty

1 + 1 + 1 + 0 = Failure


                      26
Good Marketing is about [part 1]
 What…


 Dramatic differences
 Clarity in communication
 Everything Selling




                                   27
Be Real




Candor Counts !

                  28
Why Candor counts…

• People want authentic brands
• They don’t trust advertising
  – 93% of consumers do not have confidence in the
    advertising messages of major corporations. (Yankelovic)

• Hated brands can win ! (polarization is good !)
  – Build a brand consumer hate, and there is a good chance
    you’ll build your bank account




                        Product Marketing                 29
                         Bryan Cassady
If you lie, consumers will punish
you. (Dell Hell = 366,000 hits !)




                                    30
Be connected




  Good advertising = nice
Good word of mouth = Great !


                               31
The Law of 250

• Every person knows at least 250 other people.
• Each of your contacts knows at least 250 people.
  So that’s 62,500 at your 2nd level.
• Each of your 2nd level contacts knows 250
  people - and that’s over 15,000,000




                     Product Marketing          32
                      Bryan Cassady
Corollary to Law of 250

• It is typically not your first level contact that
  eventually hires you - in fact, you’ll probably
  find that the hiring contact may be 2, 3 or 4
  levels deep.

• Some sociologists have found that
  “acquaintances are more likely than family
  members to give individuals direct information
  and to recommend them for opportunities.”
  (Mark Granovetter, “The Strength of Weak Ties”



                                 Product Marketing    33
                                  Bryan Cassady
These are the contacts likely
                                          Key to most success

          You


  4 Layers of Separation

Level 1         Level 2          Level 3               Level 4
                Contact          Contact               Contact
Contact




Your Friend      Alice’s Uncle         Bill’s Friend         Carol’s Boss
  Alice               Bill                 Carol                David     34
Gain exposure to the envelope of
serendipity: go to parties




                                   35
Don’t be fooled by the
       experts !




   Develop gut feelings
   Talk to non-experts
                          36
Wisdom of crowds in action


                        • Who Wants to Be a
                          Millionaire?


                        15 questions = $ 1 million
                        Phone a friend vs Audience

                        61% vs 91% accuracy




              Product Marketing                      37
               Bryan Cassady
An example

• What makes new products successful
  – A better product
  – Market potential
  – Market synergy




  All the things covered in the article, winners and losers…




                         Product Marketing                     38
                          Bryan Cassady
Yes




                                                            Yes



                                                     Source: New products what
                                                     separates winners from losers
                                                     Cooper & Kleinschmidt




2 out of 10 real differences, the rest statistically significant
                                                                         39
Personal opinion:

All the success criteria identified in the
winners/losers article are relevant. But what
makes a product a success is

An exceptionally high score on 1 criteria or
more likely…

A good score on a range of criteria




                                                40
Have fun




 If you enjoy what you do… you’re
         likely to do it well

If you believe you’ll do it even better
                                          41
• Increase the quality of life
• Right a wrong
• Prevent the end of something good



                                      42
Expand your horizons




 Good marketing is about business
          and people.

 Understanding business is easy…
understanding people takes lifetime   43
Make it your job to learn

• What you should be learning…
   – Organizational behavior
   – Psychology
   – Design

• Collect stuff
   – Cool advertising
   – Great product ideas
   – Beautiful design




                           Product Marketing   44
                            Bryan Cassady
A few good books

Fun                                  Academic
• Re-imagine                         • Judgment Under Uncertainty:
• The Cluetrain Manifesto              Heuristics and Biases
• All marketers are liars            • The Difference: How the
• Paradigms                            Power of Diversity Creates
• Funky business                       Better Groups, Firms,
• Influence: The Psychology of         Schools, and Societies
  Persuasion
• A Mind of Its Own: How Your        Not fun, but worth reading
  Brain Distorts and Deceives        • The Pyramid Principle

Quasi-Academic
• The Black Swan or Fooled by
  Randomness
• Linked

                           Product Marketing                      45
                            Bryan Cassady
But remember…

Your education is what you
remember long after what you have
been taught is forgotten…

Make it yours, make it fun …




                                    46
Good Marketing is about [part 2]
 What…                    How…

                          Be Real
 Dramatic differences     Be connected
 Clarity in communication Don’t be fooled
 Everything Selling       Have fun
                          Learn




                                            47
Share of customer




Never think you own your
customer… you earn them
        every day
                           48
A traditional view of the market




              Product Marketing    49
               Bryan Cassady
The reality




                           "Our buyers"
              Product Marketing           50
               Bryan Cassady
A continuum of loyalty


    Not Aware




                                    Sole Buyer


                Product Marketing                51
                 Bryan Cassady
A brand’s most valuable customers
give most of their business to
competitive brands




                                    52
11 Representative FMCG Brands


 Not Aware
                    31% to
                    the brand

             69% to
              the competition




                                Sole Buyer


                                             53
Keep a dialogue open




 Remember to talk with your
customers on a regular basis..
 What they want is important
                                 54
Using advanced marketing
techniques for lunch...

                       • RFM
                                 – This is what you ordered
                                   last time
                                 – And this is how much you
                                   ate...
                       • Analysis techniques
                                 – Based on your weight,
                                   height, social background


                       • You expect them to ask,
                         why don't you ?




             Product Marketing                             55
              Bryan Cassady
Good Marketing [the full picture]
 What…                    How…

                          Be Real
 Dramatic differences     Be connected
 Clarity in communication Don’t be fooled
 Everything Selling       Have fun
                          Learn
 Measures

 Share of customer
 Ongoing dialogue: what do they say
                                            56
“Life [and your career] is not a
journey to the grave with the
intention of arriving safely in a
pretty and well-preserved body—
but rather a skid in broadside,
thoroughly used up, totally worn
out, and loudly proclaiming,
„Wow, what a ride!‟ ” —anon.



                                    57
A simple 3 step program for brands and people

  1. What you are                     2. What are you
  Good at                             Made to do




Magic                          3. What will people
                               pay for

                                                     58

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Founder institute 36 hours of courses in 25 minutes

  • 1. 36 hours of lectures on Product management in 25 Minutes
  • 2. Most new products and services will fail … – they fail is because: • we get lost in the thick of thin things • we build products and services no one cares about – worse yet, product successes are getting smaller • too much incrementalism • formula driven marketing vs. inspired marketing Product Marketing 2 Bryan Cassady
  • 3. Building successful ideas and successful brands is hard work • A study by Nielsen 862 packaged goods promotions. 50% no impact, less than 1 in 10, plus 10% – 90% of new products fail – Few companies have proven their advertising works Product Marketing 3 Bryan Cassady
  • 4. My personal view on marketing • I think there are 3 types of marketers – Risk takers (they like the macho bit) – Risk reducers (they like getting house odds), but scare to act – Risk reducers ready to act… • A good marketer will build a strategy that increases odds of success from – 10% – to 20% A great marketer will – to 50% also do lots of stuff that fails Product Marketing 4 Bryan Cassady
  • 5. “Let‟s make sure we follow the books… A typical Marketing MBA 5
  • 6. An interesting book… Counterintuitive Marketing Studying brands in 48 categories 6
  • 7. Airlines Gas Stations Mid-priced American Cars Athletic Shoes Haircare Products Mid-priced Foreign Cars Auto Insurance Headache Remedies Motor Oils Banks Health & Fitness Clubs Newspapers Beers Home Entertainment Equip. Office Supply Stores Bookstores Hotels Personal Computers Bottled water Household Cleansers Pet Supply Stores Catalog clothing Internet Search Engines Political Parties Cigarettes Internet Service Providers Potato Chips Colas Jewelry Rental Cars Cold Cereals Laundry Detergents Soaps Cookies Liquor Spaghetti Sauces Cosmetics Long-Distance Telephone Toothpastes Credit Cards Luxury American Cars TV Networks Department Stores Luxury Foreign Cars Weight Loss Programs Fast Food Restaurants Major Household Appliances Wireless or Cellular Tel. 7
  • 8. Out of 48 product categories, Brand Equity scores are: • Decreasing in 39 • Stable in 5 • Improving in only 4 8
  • 9. M.B.A. stands for “Murderer of Brand Assets” In a connected world, little incremental steps are the slow death of a brand 9
  • 10. “Learn not to be careful.” —Photographer Diane Arbus to her students (Careful = “The sidelines,” per Harriet Rubin in The Princessa) 10
  • 11. Target ROI for a VC company Investment Investment Return ROI Cum_invest Cum_Return Cum ROI 1 100 2000 2000% 100 2000 2000% 2 100 150 150% 200 2150 1075% 3 100 100 100% 300 2250 750% 4 100 100 100% 400 2350 588% 5 100 50 50% 500 2400 480% 6 100 50 50% 600 2450 408% 7 100 25 25% 700 2475 354% 8 100 25 25% 800 2500 313% 9 100 10 10% 900 2510 279% 10 100 10 10% 1000 2520 252% 11 100 5 5% 1100 2525 230% 12 100 4 4% 1200 2529 211% 13 100 3 3% 1300 2532 195% 14 100 2 2% 1400 2534 181% 15 100 1 1% 1500 2535 169% 16 100 1 1% 1600 2536 159% 17 100 1 1% 1700 2537 149% 18 100 0 0% 1800 2537 141% 19 100 0 0% 1900 2537 134% 20 100 0 0% 2000 2537 127% Totals 2000 2537 127% Throw out 4 losers and your ROI increases 159% Throw out the winner and your ROI falls to -72% 11
  • 12. “Let‟s make a dent in the universe.” Steve Jobs Apple Computer 12
  • 13. Class Summary Thoughts to leave with 13
  • 14. Meaningful differentiation Is there something that makes you special Normal = nothing ! 14
  • 15. 3 Laws of meaningful differentiation • Law # 1: An overt benefit – 1 maybe, 2 things better than anyone • Law # 2: Real reason to believe – Credible, honest, memorable • Law # 3: DRAMATIC difference – Not itsy bitsy differences, but something that sticks in people’s brains Example: Student applications and the 10,000 pound cookie Product Marketing 15 Bryan Cassady
  • 16. Dramatic Difference is a the best predictor of success Dr. Robert Cooper Factors of Successful New Products #1 Unique Benefit (Dramatic Difference) 218 #2 Fit with Company 142 (Resources, skills, abilities) #3 Large &/or Growing Market 100 McMaster University Hamilton, Ontario, Canada 16
  • 17. Clarity in communication Your advertising needs to be as good as your best salesman 17
  • 18. Every day YOU are bombarded by up to 4,000 ads 18
  • 20. Clarity Confusion is not a good strategy for success. 20
  • 21. Golden Rule of Clarity Let a customer say NO because what you offer doesn’t apply to them. But NEVER let a customer say NO because they don’t understand what you’re offering. 21
  • 22. First Law of Marketing Physics source: 2002 Eureka! Institute • Overt Benefit • You TRIPLE the effectiveness of • your marketing efforts by OVERTLY • communicating your customer benefit Overt Benefit Level Probability of Success Low Overt Benefit 13% Medium Overt Benefit 26% High Overt Benefit Product Marketing 38% 22 Bryan Cassady
  • 23. Reason To Believe Story 3 Chefs - 3 Years - World Cooking Competition Medalists 23
  • 24. Everything Sells Are you offering, value, innovation or service (you need to choose ! ) 24
  • 25. Everything you do with a brand is selling… 25
  • 26. 1 + 1 + 1 + 1 = Beauty 1 + 1 + 1 + 0 = Failure 26
  • 27. Good Marketing is about [part 1] What… Dramatic differences Clarity in communication Everything Selling 27
  • 29. Why Candor counts… • People want authentic brands • They don’t trust advertising – 93% of consumers do not have confidence in the advertising messages of major corporations. (Yankelovic) • Hated brands can win ! (polarization is good !) – Build a brand consumer hate, and there is a good chance you’ll build your bank account Product Marketing 29 Bryan Cassady
  • 30. If you lie, consumers will punish you. (Dell Hell = 366,000 hits !) 30
  • 31. Be connected Good advertising = nice Good word of mouth = Great ! 31
  • 32. The Law of 250 • Every person knows at least 250 other people. • Each of your contacts knows at least 250 people. So that’s 62,500 at your 2nd level. • Each of your 2nd level contacts knows 250 people - and that’s over 15,000,000 Product Marketing 32 Bryan Cassady
  • 33. Corollary to Law of 250 • It is typically not your first level contact that eventually hires you - in fact, you’ll probably find that the hiring contact may be 2, 3 or 4 levels deep. • Some sociologists have found that “acquaintances are more likely than family members to give individuals direct information and to recommend them for opportunities.” (Mark Granovetter, “The Strength of Weak Ties” Product Marketing 33 Bryan Cassady
  • 34. These are the contacts likely Key to most success You 4 Layers of Separation Level 1 Level 2 Level 3 Level 4 Contact Contact Contact Contact Your Friend Alice’s Uncle Bill’s Friend Carol’s Boss Alice Bill Carol David 34
  • 35. Gain exposure to the envelope of serendipity: go to parties 35
  • 36. Don’t be fooled by the experts ! Develop gut feelings Talk to non-experts 36
  • 37. Wisdom of crowds in action • Who Wants to Be a Millionaire? 15 questions = $ 1 million Phone a friend vs Audience 61% vs 91% accuracy Product Marketing 37 Bryan Cassady
  • 38. An example • What makes new products successful – A better product – Market potential – Market synergy All the things covered in the article, winners and losers… Product Marketing 38 Bryan Cassady
  • 39. Yes Yes Source: New products what separates winners from losers Cooper & Kleinschmidt 2 out of 10 real differences, the rest statistically significant 39
  • 40. Personal opinion: All the success criteria identified in the winners/losers article are relevant. But what makes a product a success is An exceptionally high score on 1 criteria or more likely… A good score on a range of criteria 40
  • 41. Have fun If you enjoy what you do… you’re likely to do it well If you believe you’ll do it even better 41
  • 42. • Increase the quality of life • Right a wrong • Prevent the end of something good 42
  • 43. Expand your horizons Good marketing is about business and people. Understanding business is easy… understanding people takes lifetime 43
  • 44. Make it your job to learn • What you should be learning… – Organizational behavior – Psychology – Design • Collect stuff – Cool advertising – Great product ideas – Beautiful design Product Marketing 44 Bryan Cassady
  • 45. A few good books Fun Academic • Re-imagine • Judgment Under Uncertainty: • The Cluetrain Manifesto Heuristics and Biases • All marketers are liars • The Difference: How the • Paradigms Power of Diversity Creates • Funky business Better Groups, Firms, • Influence: The Psychology of Schools, and Societies Persuasion • A Mind of Its Own: How Your Not fun, but worth reading Brain Distorts and Deceives • The Pyramid Principle Quasi-Academic • The Black Swan or Fooled by Randomness • Linked Product Marketing 45 Bryan Cassady
  • 46. But remember… Your education is what you remember long after what you have been taught is forgotten… Make it yours, make it fun … 46
  • 47. Good Marketing is about [part 2] What… How… Be Real Dramatic differences Be connected Clarity in communication Don’t be fooled Everything Selling Have fun Learn 47
  • 48. Share of customer Never think you own your customer… you earn them every day 48
  • 49. A traditional view of the market Product Marketing 49 Bryan Cassady
  • 50. The reality "Our buyers" Product Marketing 50 Bryan Cassady
  • 51. A continuum of loyalty Not Aware Sole Buyer Product Marketing 51 Bryan Cassady
  • 52. A brand’s most valuable customers give most of their business to competitive brands 52
  • 53. 11 Representative FMCG Brands Not Aware 31% to the brand 69% to the competition Sole Buyer 53
  • 54. Keep a dialogue open Remember to talk with your customers on a regular basis.. What they want is important 54
  • 55. Using advanced marketing techniques for lunch... • RFM – This is what you ordered last time – And this is how much you ate... • Analysis techniques – Based on your weight, height, social background • You expect them to ask, why don't you ? Product Marketing 55 Bryan Cassady
  • 56. Good Marketing [the full picture] What… How… Be Real Dramatic differences Be connected Clarity in communication Don’t be fooled Everything Selling Have fun Learn Measures Share of customer Ongoing dialogue: what do they say 56
  • 57. “Life [and your career] is not a journey to the grave with the intention of arriving safely in a pretty and well-preserved body— but rather a skid in broadside, thoroughly used up, totally worn out, and loudly proclaiming, „Wow, what a ride!‟ ” —anon. 57
  • 58. A simple 3 step program for brands and people 1. What you are 2. What are you Good at Made to do Magic 3. What will people pay for 58