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For startups

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This is just a sum of the knowledge i have learned for a couple of years. i hope you guys all find this useful. Please do give any thoughts, feedback or comments. Thank you.

For startups

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For startups
Startup is (usually) a newly established business that values creative problem solving, open
communication and a flat hierarchy. In a corporate culture, core values are typically informed
by the identity of the company, including its mission statement, products and customer
service.
1
2
3
4
5
6
For startups
1
Creating a startup, or managing any business, is all about problem solving. Entrepreneurs who are great problem solvers in
any business are the ones that are best prepared to solve their customers’ needs effectively. In fact, every business is
about providing solutions to customer problems – no problems, no business. Problems are an everyday part of every
business and personal environment. Businesses don't grow just to grow. They don't last just to last. They thrive when the
world needs them. When they are committed to solving a problem that matters, then there is reason for them to
continue your work, to grow, to thrive.
1
Ways that you can start with . . .

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For startups

  • 2. Startup is (usually) a newly established business that values creative problem solving, open communication and a flat hierarchy. In a corporate culture, core values are typically informed by the identity of the company, including its mission statement, products and customer service.
  • 5. 1 Creating a startup, or managing any business, is all about problem solving. Entrepreneurs who are great problem solvers in any business are the ones that are best prepared to solve their customers’ needs effectively. In fact, every business is about providing solutions to customer problems – no problems, no business. Problems are an everyday part of every business and personal environment. Businesses don't grow just to grow. They don't last just to last. They thrive when the world needs them. When they are committed to solving a problem that matters, then there is reason for them to continue your work, to grow, to thrive.
  • 6. 1 Ways that you can start with . . .
  • 10. Which way do you choose to start with? What problem that your business can solve?
  • 11. 2 After you understand the problems, you should take it down deeper, take a look at the specific issue and what cause them. By doing this, you need to examine and identify who owns that kind of problems. By narrowing it, you might understand the problem deeper, know the consumer better, then giving the best advantages for your business. Plus, the message will be strong, compelling and clear. Having a clear vision of your expected customer base will increase your business' chances of success
  • 12. 2 What you need to do is SEGMENTING & TARGETING based on . . .
  • 13. You can divide your market by this following demographical aspect, each aspect would affect your marketing efforts. you could understand the culture of your consumer or simply choose the best spot to place your marketing activity depict you the power of their budget also their behavior and social habits giving you clear understanding on how they make decisions based on their buying power giving you clear understanding on their behavior, thinking process and psychological traits giving you deep understanding on how will they react, rules, beliefs and behavior this might give you an insight on how this specific age group behaves, and their social habits
  • 14. giving you clear understanding on their lifestyle who might affect their decision making process. giving you clear understanding on their interest and hobbies that may affect their decision making process giving you clear understanding on how they would feel, act and think
  • 15. giving you clear understanding on what consumer status that you will targeted. New consumer? One- timer consumer? Or Loyal consumer?. giving you clear understanding on what consumer seeking as their benefit? Economical, emotional, quality or service benefit? giving you clear understanding of how is your consumer consumption habits
  • 16. Who is your target market? What is their behavior? Lifestyle? Culture? What are they after? What are they beliefs? What are their expectations?
  • 17. 3 In a market place cluttered with lots of products and brands offering similar benefits, a good positioning makes a brand or product stand out from the rest. Positioning helps establish your product's or service's identity within the eyes of the consumer that differ you from your competitors. It is about how do you want to be seen by your consumer?
  • 19. “ Apple doesn’t just think about what people need now. They think about what people will need later and other industries help Apple to meet that need ” – Mary V. Davids
  • 23. How do you want to be seen by your target market?
  • 24. 4 A marketing effort that showcases the differences between products. Differentiation looks to make a product more attractive by contrasting its unique qualities with other competing The objective of differentiation is to strengthen your positioning through distinct product or brand attributes. Differentiation is the implementation of positioning in tangible form.
  • 25. 4 5 types of differentiation by Philip Kotler. . . Product Service People Channel Image
  • 26. Only one button No CPU
  • 27. Only one button No CPUTo strengthen their positioning to be a brand that think beyond and differently create innovations, they develop series of products that integrated as their differentiation which make their consumer life easier
  • 29. What differentiate you from other that you do to prove your positioning?
  • 30. 5 Any efforts, both tangible and intangible--that when come in contact with the consumers--enable them to identify and differentiate your product from other products. It includes symbol, logo, design, but not limited only to visual things. The objective of branding is to strengthen the differentiation offering and the positioning that have been set.
  • 31. Mind identity is your brand essence. What does your brand stand for? Then translate it to a unique experience that communicates your essence as your behavior identity. Finally, create visual identities that communicate the same essence.
  • 32. Coca-Cola positions itself as a refreshing and thirst- quenching soft drink that brings joy in your everyday life. Coca-Cola has a differentiation in its image. It has built an image of fun and happy life when you drink it
  • 33. Coca Cola’s Mind Identity (brand essence)
  • 34. They created a unique experience as their behavior identity, by establishing a vending machine called happiness machine. It gave the buyer surprises to give joy in their life; to let them feel the happiness. -- Behavior Identity --
  • 35. Coca-cola also communicates the essence of joy and happiness through their visual identities. For example, through their packaging.
  • 36. What is your brand essence? How will you translate your brand essence to behavior and visual identity?
  • 37. 6 a combination of elements that can be controlled by a company to influence consumers to purchase its products. It is a tool that you can use to guide you in putting the right product, in the right place, with the right price, and with the right way. So to make it all right, all the factors should be aligned with your target market, your positioning, differentiation and your branding efforts.
  • 39. Product is something that you want to sell. Product is the heart of whole marketing mix. If the product is not attractive to the customers, no amount of sales promotion, appropriate channel selection or price reduction will help to achieve the marketing target. Because product play as the customer solution of a particular problem. But great product will be less powerful without supports from the other Ps (Price, Place and Promotion) PRODUCT
  • 40. Price is the valuation of the product mentioned by the seller on the product. Or in other words, how much money a consumer should spend to have your product. Market price of a product needs to be reviewed and adjusted periodically. The price charged should be high enough to give adequate profit to the company but low enough to motivate consumers to purchase product. Price plays role as the consumer cost. PRODUCT PRICE
  • 41. Place is a channel (offline or online or both) where you deliver the product to the consumer. You have to select a place which is convenient, economical, suitable, and align with the brand to distribute your product. Place itself plays role as the consumer convenient PRODUCT PLACE PRICE
  • 42. Promotion is the persuasive communication about the product offered . The trickiest part about promotion is making sure that the money that you spend is in form of an investment, not a cost. You should understand that a promotion investment could have two possible purpose, it is between image building (to make your brand more attractive in the eye of your target market) or to spur sales (creating the first transaction by your target market, thus creating a possible second transaction). Promotion plays role as the consumer communication. PRODUCT PROMOTION PLACE PRICE
  • 43. Her name is Olin. She wanted to create a t-shirt start up. . . So she determined her target market, which is. . . Then she created a start up called. . . With the 4Ps as follow. . . Positioning: T-shirt that goes beyond looking good with creative artwork that manifest the human life Differentiation: High Quality Fashion & Quirky Artworks Branding: Western, young image & quirky, high quality fashion
  • 44. Monstore’s positioning, differentiation, branding and its target market preferences are well-translated into their product.
  • 45. Rp. 199.000 – Rp 499.000 Monstore’s “price” is also aligned with its positioning and branding, because it communicates that Monstore is a high quality fashion. On the other side, the price is still affordable among its target market
  • 46. Heymonstore.com The Goods Dept Monstore Embrio Monstore’s “place” is also aligned with its positioning, branding, differentiation, and its target market. Its distribution channels / touch points, both online and offline, are designed as quirky as possible and are very attractive to young segment.
  • 47. The main purpose is to strengthen brand image. Because sponsorship-type promotion will strengthen the association between the brand and the event. So that Monstore image will be effected by DWP image which is young and wild. But that is actually good because it is align with Monstore’s brand essence.
  • 48. The main purpose is to drive sales. As the cost of obtaining Monstore’s t-shirts is decreasing, this price-cutting effort will encourage people to buy more. Also, fast.
  • 49. As you can see, the product, price, place, and promotion of Monstore match its target market behavior and lifestyle, differentiation, branding and positioning. That is why Monstore is awarded as one of the local brands that has strong startup concept, as well as a top clothing brand in Indonesia among youth segment.
  • 50. Do your product, price, place and promotion in line with your target market behavior and lifestyle? Do your product, price, place and promotion in line with your positioning, differentiation, and branding?
  • 51. “If you are not embarrassed by the first version of your product, you’ve launched too late.” –Reid Hoffman, LinkedIn Co-Founder and Venture Capitalist