SlideShare une entreprise Scribd logo
1  sur  17
From Napkin to
             Revenue™
Transform You Ideas into Products Customers Want™

                                                Tom Evans
                                             Lûcrum Marketing
                                             @compellingmktr

   "From Napkin to Revenue" and "Transform Your Ideas into Products That Customers Want" are Trademarks of The Lûcrum Group, Inc.
                                                                                                        Copyright © 2012, Lûcrum Marketing, All Rights Reserved
High New Product Failure Rate

• Robert G Cooper: One out of four development projects
  succeeds commercially. (i.e., 75% failure rate)
• Jack Gordon: In the world we live in, somewhere between
  80 percent and 95 percent of new product introductions
  fail.




                                          Copyright © 2012, Lûcrum Marketing, All Rights Reserved
Why Do So Many Products Fail?


1. Idea to Product




                                Copyright © 2012, Lûcrum Marketing, All Rights Reserved
Why Do So Many Products Fail?


2. Not many people want to buy the solution.
3. Solution is not profitable.
4. Unable to communicate a clear reason to purchase the
   solution.




                                          Copyright © 2012, Lûcrum Marketing, All Rights Reserved
Keys to Successful Products

• Compelling Market Opportunity
   – Big painful issues
   – That many in your target market
   – Are willing to pay to solve
• Compelling Solution                           Discovery
   – Differentiated Value Proposition               +
   – Profitable business model
   – Time to market
                                                Validation
• Compelling Market Strategy
   – Motivates target market
   – To solve problem with your solution
                                           Copyright © 2012, Lûcrum Marketing, All Rights Reserved
Model for Discovery


                                                                           Four Key Steps of Discovery
                                                               Validate         Validate      Validate              Validate
                                                              Hypothesis       Opportunity    Solution              Market

                                          Market Problem
                       Four Key Pillars
                        of Discovery




                                             Product

                                             Business
                                              Model

                                          Market Strategy


                                                                               Valid Market   Ready to
                  Validation                                Valid Hypothesis
                                                                               Opportunity     Launch
                                                                                                                Market Growth




Product-to-Market is a trademark of Lûcrum Marketing                                               Copyright © 2012, Lûcrum Marketing, All Rights Reserved
Four Key Pillars of Discovery


• Market Problem – if you’re not solving a problem, there is
  no need for a product!
• Product – How do you solve the market problem in a
  valuable and differentiated manner?
• Business Model – How do you deliver the benefit and
  profitably capture the value?
• Market Strategy – Who is going to buy it and why?



                                             Copyright © 2012, Lûcrum Marketing, All Rights Reserved
Market Problem


• Need or want that is unsatisfied
• Something someone wants to do and can’t
• Something someone wants to do better
• Compelling Market Problems
   – Big problem, many have, urgent to solve, willing to pay
• Our challenge
   – Defining the solution before we understand market
     problem to be solved

                                             Copyright © 2012, Lûcrum Marketing, All Rights Reserved
Areas of Needs & Wants




            Source: http://www.teach-nology.com/tutorials/teaching/whatareneeds.html




                                                                                       Copyright © 2012, Lûcrum Marketing, All Rights Reserved
Henry Ford’s Quote


        “If I had asked people what they wanted,
           they would have said faster horses.”




                                          Copyright © 2012, Lûcrum Marketing, All Rights Reserved
What Do They Need (To Do)?



“People don't want to buy a
quarter-inch drill. They
want a quarter-inch hole!”
–Theodore Levitt




                              Copyright © 2012, Lûcrum Marketing, All Rights Reserved
Product


• “Anything that can be offered to someone to satisfy a need
  or want” (Kotler – Marketing Management)
• Delivers a benefit to buyer/user
• Can be goods or services




                                            Copyright © 2012, Lûcrum Marketing, All Rights Reserved
Business Model


• How will the company make a profit by selling the product?
   – How solution will be delivered
   – Cost to deliver solution
   – How customers will be acquired
   – Cost to acquire customers
   – Who is going to pay and how much

           Often is inextricably linked to product
  Can be a point of differentiation or competitive advantage
                                             Copyright © 2012, Lûcrum Marketing, All Rights Reserved
Business Model Examples




                          Copyright © 2012, Lûcrum Marketing, All Rights Reserved
Market Strategy


• Who will buy and why
  – Target market
  – Buyers & user profiles
  – Problems to solve
  – Positioning in the market
  – Competitive advantages
  – Key messages to communicate



                                  Copyright © 2012, Lûcrum Marketing, All Rights Reserved
Model for Discovery


                                                           Four Key Steps of Discovery
                                               Validate         Validate      Validate              Validate
                                              Hypothesis       Opportunity    Solution              Market

                          Market Problem
       Four Key Pillars
         Of Discovery




                             Product

                             Business
                              Model

                          Market Strategy


                                                               Valid Market   Ready to
     Validation                             Valid Hypothesis
                                                               Opportunity     Launch
                                                                                                Market Growth




                                                                                   Copyright © 2012, Lûcrum Marketing, All Rights Reserved
Thank You!



                      Tom Evans
                   Lûcrum Marketing
             tevans@lucrum-marketing.com
                   +1.512.961.5267
                   @compellingmktr



                                      Copyright © 2012, Lûcrum Marketing, All Rights Reserved

Contenu connexe

Plus de CompellingPM

Define a Powerful Go-to-Market Strategy That Sets Your Product Apart
Define a Powerful Go-to-Market Strategy That Sets Your Product ApartDefine a Powerful Go-to-Market Strategy That Sets Your Product Apart
Define a Powerful Go-to-Market Strategy That Sets Your Product ApartCompellingPM
 
How to Develop a Deep Understanding of Your Target Markets: The Starting Poi...
How to Develop a Deep Understanding of Your Target Markets:  The Starting Poi...How to Develop a Deep Understanding of Your Target Markets:  The Starting Poi...
How to Develop a Deep Understanding of Your Target Markets: The Starting Poi...CompellingPM
 
The Strategic Role of Product Management & Product Marketing in Driving Produ...
The Strategic Role of Product Management & Product Marketing in Driving Produ...The Strategic Role of Product Management & Product Marketing in Driving Produ...
The Strategic Role of Product Management & Product Marketing in Driving Produ...CompellingPM
 
You Messaging Sucks, Now Let's Go Fix It! PCA14
You Messaging Sucks, Now Let's Go Fix It!   PCA14You Messaging Sucks, Now Let's Go Fix It!   PCA14
You Messaging Sucks, Now Let's Go Fix It! PCA14CompellingPM
 
Transforming Guadalajara Tech Companies for Global Export Success
Transforming Guadalajara Tech Companies for Global Export SuccessTransforming Guadalajara Tech Companies for Global Export Success
Transforming Guadalajara Tech Companies for Global Export SuccessCompellingPM
 
Good Product Manager, Bad Product Manager - Product Camp Austin 13
Good Product Manager, Bad Product Manager - Product Camp Austin 13Good Product Manager, Bad Product Manager - Product Camp Austin 13
Good Product Manager, Bad Product Manager - Product Camp Austin 13CompellingPM
 
How to Achieve Business Success at WCIT 2014: Ten Keys to Creating and Marke...
How to Achieve Business Success at WCIT 2014:  Ten Keys to Creating and Marke...How to Achieve Business Success at WCIT 2014:  Ten Keys to Creating and Marke...
How to Achieve Business Success at WCIT 2014: Ten Keys to Creating and Marke...CompellingPM
 
Driving the Marketing and Sales Funnel to Close Deals: What Product Marketers...
Driving the Marketing and Sales Funnel to Close Deals: What Product Marketers...Driving the Marketing and Sales Funnel to Close Deals: What Product Marketers...
Driving the Marketing and Sales Funnel to Close Deals: What Product Marketers...CompellingPM
 
All of the Responsibility, But No Authority: Get Over It and Lead
All of the Responsibility, But No Authority:  Get Over It and LeadAll of the Responsibility, But No Authority:  Get Over It and Lead
All of the Responsibility, But No Authority: Get Over It and LeadCompellingPM
 
How to Create Products That Don't Suck BSC- Sept 23 2013
How to Create Products That Don't Suck BSC- Sept 23 2013How to Create Products That Don't Suck BSC- Sept 23 2013
How to Create Products That Don't Suck BSC- Sept 23 2013CompellingPM
 
What is a Go-to-Market Strategy & How to Create One
What is a Go-to-Market Strategy & How to Create OneWhat is a Go-to-Market Strategy & How to Create One
What is a Go-to-Market Strategy & How to Create OneCompellingPM
 
Going From Messaging Nightmare to Messaging Delight, How to Create a Powerful...
Going From Messaging Nightmare to Messaging Delight, How to Create a Powerful...Going From Messaging Nightmare to Messaging Delight, How to Create a Powerful...
Going From Messaging Nightmare to Messaging Delight, How to Create a Powerful...CompellingPM
 
People Fund Innovation Week 2013 - How to Create Products that Customers Re...
People Fund  Innovation Week 2013 -  How to Create Products that Customers Re...People Fund  Innovation Week 2013 -  How to Create Products that Customers Re...
People Fund Innovation Week 2013 - How to Create Products that Customers Re...CompellingPM
 
How to create products that don't suck RISE 2013
How to create products that don't suck   RISE 2013How to create products that don't suck   RISE 2013
How to create products that don't suck RISE 2013CompellingPM
 
Cómo crear productos que no sean una porqueria feb 28 2013
Cómo crear productos que no sean una porqueria   feb 28 2013Cómo crear productos que no sean una porqueria   feb 28 2013
Cómo crear productos que no sean una porqueria feb 28 2013CompellingPM
 
Put a Little Love in Your Product - Discover How Great Products Evoke Emotion...
Put a Little Love in Your Product - Discover How Great Products Evoke Emotion...Put a Little Love in Your Product - Discover How Great Products Evoke Emotion...
Put a Little Love in Your Product - Discover How Great Products Evoke Emotion...CompellingPM
 
Product Management & The Holy Grail (PCA9)
Product Management & The Holy Grail (PCA9)Product Management & The Holy Grail (PCA9)
Product Management & The Holy Grail (PCA9)CompellingPM
 
Going Beyond Innovation: How Companies Must Use "Market-Driven" Principles to...
Going Beyond Innovation: How Companies Must Use "Market-Driven" Principles to...Going Beyond Innovation: How Companies Must Use "Market-Driven" Principles to...
Going Beyond Innovation: How Companies Must Use "Market-Driven" Principles to...CompellingPM
 
How to make products that don't suck ProductCamp DFW 2012
How to make products that don't suck ProductCamp DFW 2012How to make products that don't suck ProductCamp DFW 2012
How to make products that don't suck ProductCamp DFW 2012CompellingPM
 
How to make products that don't suck product camp st louis - apr 21 2012
How to make products that don't suck   product camp st louis - apr 21 2012How to make products that don't suck   product camp st louis - apr 21 2012
How to make products that don't suck product camp st louis - apr 21 2012CompellingPM
 

Plus de CompellingPM (20)

Define a Powerful Go-to-Market Strategy That Sets Your Product Apart
Define a Powerful Go-to-Market Strategy That Sets Your Product ApartDefine a Powerful Go-to-Market Strategy That Sets Your Product Apart
Define a Powerful Go-to-Market Strategy That Sets Your Product Apart
 
How to Develop a Deep Understanding of Your Target Markets: The Starting Poi...
How to Develop a Deep Understanding of Your Target Markets:  The Starting Poi...How to Develop a Deep Understanding of Your Target Markets:  The Starting Poi...
How to Develop a Deep Understanding of Your Target Markets: The Starting Poi...
 
The Strategic Role of Product Management & Product Marketing in Driving Produ...
The Strategic Role of Product Management & Product Marketing in Driving Produ...The Strategic Role of Product Management & Product Marketing in Driving Produ...
The Strategic Role of Product Management & Product Marketing in Driving Produ...
 
You Messaging Sucks, Now Let's Go Fix It! PCA14
You Messaging Sucks, Now Let's Go Fix It!   PCA14You Messaging Sucks, Now Let's Go Fix It!   PCA14
You Messaging Sucks, Now Let's Go Fix It! PCA14
 
Transforming Guadalajara Tech Companies for Global Export Success
Transforming Guadalajara Tech Companies for Global Export SuccessTransforming Guadalajara Tech Companies for Global Export Success
Transforming Guadalajara Tech Companies for Global Export Success
 
Good Product Manager, Bad Product Manager - Product Camp Austin 13
Good Product Manager, Bad Product Manager - Product Camp Austin 13Good Product Manager, Bad Product Manager - Product Camp Austin 13
Good Product Manager, Bad Product Manager - Product Camp Austin 13
 
How to Achieve Business Success at WCIT 2014: Ten Keys to Creating and Marke...
How to Achieve Business Success at WCIT 2014:  Ten Keys to Creating and Marke...How to Achieve Business Success at WCIT 2014:  Ten Keys to Creating and Marke...
How to Achieve Business Success at WCIT 2014: Ten Keys to Creating and Marke...
 
Driving the Marketing and Sales Funnel to Close Deals: What Product Marketers...
Driving the Marketing and Sales Funnel to Close Deals: What Product Marketers...Driving the Marketing and Sales Funnel to Close Deals: What Product Marketers...
Driving the Marketing and Sales Funnel to Close Deals: What Product Marketers...
 
All of the Responsibility, But No Authority: Get Over It and Lead
All of the Responsibility, But No Authority:  Get Over It and LeadAll of the Responsibility, But No Authority:  Get Over It and Lead
All of the Responsibility, But No Authority: Get Over It and Lead
 
How to Create Products That Don't Suck BSC- Sept 23 2013
How to Create Products That Don't Suck BSC- Sept 23 2013How to Create Products That Don't Suck BSC- Sept 23 2013
How to Create Products That Don't Suck BSC- Sept 23 2013
 
What is a Go-to-Market Strategy & How to Create One
What is a Go-to-Market Strategy & How to Create OneWhat is a Go-to-Market Strategy & How to Create One
What is a Go-to-Market Strategy & How to Create One
 
Going From Messaging Nightmare to Messaging Delight, How to Create a Powerful...
Going From Messaging Nightmare to Messaging Delight, How to Create a Powerful...Going From Messaging Nightmare to Messaging Delight, How to Create a Powerful...
Going From Messaging Nightmare to Messaging Delight, How to Create a Powerful...
 
People Fund Innovation Week 2013 - How to Create Products that Customers Re...
People Fund  Innovation Week 2013 -  How to Create Products that Customers Re...People Fund  Innovation Week 2013 -  How to Create Products that Customers Re...
People Fund Innovation Week 2013 - How to Create Products that Customers Re...
 
How to create products that don't suck RISE 2013
How to create products that don't suck   RISE 2013How to create products that don't suck   RISE 2013
How to create products that don't suck RISE 2013
 
Cómo crear productos que no sean una porqueria feb 28 2013
Cómo crear productos que no sean una porqueria   feb 28 2013Cómo crear productos que no sean una porqueria   feb 28 2013
Cómo crear productos que no sean una porqueria feb 28 2013
 
Put a Little Love in Your Product - Discover How Great Products Evoke Emotion...
Put a Little Love in Your Product - Discover How Great Products Evoke Emotion...Put a Little Love in Your Product - Discover How Great Products Evoke Emotion...
Put a Little Love in Your Product - Discover How Great Products Evoke Emotion...
 
Product Management & The Holy Grail (PCA9)
Product Management & The Holy Grail (PCA9)Product Management & The Holy Grail (PCA9)
Product Management & The Holy Grail (PCA9)
 
Going Beyond Innovation: How Companies Must Use "Market-Driven" Principles to...
Going Beyond Innovation: How Companies Must Use "Market-Driven" Principles to...Going Beyond Innovation: How Companies Must Use "Market-Driven" Principles to...
Going Beyond Innovation: How Companies Must Use "Market-Driven" Principles to...
 
How to make products that don't suck ProductCamp DFW 2012
How to make products that don't suck ProductCamp DFW 2012How to make products that don't suck ProductCamp DFW 2012
How to make products that don't suck ProductCamp DFW 2012
 
How to make products that don't suck product camp st louis - apr 21 2012
How to make products that don't suck   product camp st louis - apr 21 2012How to make products that don't suck   product camp st louis - apr 21 2012
How to make products that don't suck product camp st louis - apr 21 2012
 

Dernier

Live-Streaming in the Music Industry Webinar
Live-Streaming in the Music Industry WebinarLive-Streaming in the Music Industry Webinar
Live-Streaming in the Music Industry WebinarNathanielSchmuck
 
Plano de marketing- inglês em formato ppt
Plano de marketing- inglês  em formato pptPlano de marketing- inglês  em formato ppt
Plano de marketing- inglês em formato pptElizangelaSoaresdaCo
 
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...AustraliaChapterIIBA
 
Building Your Personal Brand on LinkedIn - Expert Planet- 2024
 Building Your Personal Brand on LinkedIn - Expert Planet-  2024 Building Your Personal Brand on LinkedIn - Expert Planet-  2024
Building Your Personal Brand on LinkedIn - Expert Planet- 2024Stephan Koning
 
NewBase 25 March 2024 Energy News issue - 1710 by Khaled Al Awadi_compress...
NewBase  25 March  2024  Energy News issue - 1710 by Khaled Al Awadi_compress...NewBase  25 March  2024  Energy News issue - 1710 by Khaled Al Awadi_compress...
NewBase 25 March 2024 Energy News issue - 1710 by Khaled Al Awadi_compress...Khaled Al Awadi
 
Team B Mind Map for Organizational Chg..
Team B Mind Map for Organizational Chg..Team B Mind Map for Organizational Chg..
Team B Mind Map for Organizational Chg..dlewis191
 
Data skills for Agile Teams- Killing story points
Data skills for Agile Teams- Killing story pointsData skills for Agile Teams- Killing story points
Data skills for Agile Teams- Killing story pointsyasinnathani
 
Developing Coaching Skills: Mine, Yours, Ours
Developing Coaching Skills: Mine, Yours, OursDeveloping Coaching Skills: Mine, Yours, Ours
Developing Coaching Skills: Mine, Yours, OursKaiNexus
 
Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access
 
Michael Vidyakin: Introduction to PMO (UA)
Michael Vidyakin: Introduction to PMO (UA)Michael Vidyakin: Introduction to PMO (UA)
Michael Vidyakin: Introduction to PMO (UA)Lviv Startup Club
 
Intellectual Property Licensing Examples
Intellectual Property Licensing ExamplesIntellectual Property Licensing Examples
Intellectual Property Licensing Examplesamberjiles31
 
MC Heights construction company in Jhang
MC Heights construction company in JhangMC Heights construction company in Jhang
MC Heights construction company in Jhangmcgroupjeya
 
Lecture_6.pptx English speaking easyb to
Lecture_6.pptx English speaking easyb toLecture_6.pptx English speaking easyb to
Lecture_6.pptx English speaking easyb toumarfarooquejamali32
 
Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access
 
Chapter_Five_The_Rural_Development_Policies_and_Strategy_of_Ethiopia.pptx
Chapter_Five_The_Rural_Development_Policies_and_Strategy_of_Ethiopia.pptxChapter_Five_The_Rural_Development_Policies_and_Strategy_of_Ethiopia.pptx
Chapter_Five_The_Rural_Development_Policies_and_Strategy_of_Ethiopia.pptxesiyasmengesha
 
Upgrade Your Banking Experience with Advanced Core Banking Applications
Upgrade Your Banking Experience with Advanced Core Banking ApplicationsUpgrade Your Banking Experience with Advanced Core Banking Applications
Upgrade Your Banking Experience with Advanced Core Banking ApplicationsIntellect Design Arena Ltd
 
NASA CoCEI Scaling Strategy - November 2023
NASA CoCEI Scaling Strategy - November 2023NASA CoCEI Scaling Strategy - November 2023
NASA CoCEI Scaling Strategy - November 2023Steve Rader
 
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003believeminhh
 
Project Brief & Information Architecture Report
Project Brief & Information Architecture ReportProject Brief & Information Architecture Report
Project Brief & Information Architecture Reportamberjiles31
 
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...IMARC Group
 

Dernier (20)

Live-Streaming in the Music Industry Webinar
Live-Streaming in the Music Industry WebinarLive-Streaming in the Music Industry Webinar
Live-Streaming in the Music Industry Webinar
 
Plano de marketing- inglês em formato ppt
Plano de marketing- inglês  em formato pptPlano de marketing- inglês  em formato ppt
Plano de marketing- inglês em formato ppt
 
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...
 
Building Your Personal Brand on LinkedIn - Expert Planet- 2024
 Building Your Personal Brand on LinkedIn - Expert Planet-  2024 Building Your Personal Brand on LinkedIn - Expert Planet-  2024
Building Your Personal Brand on LinkedIn - Expert Planet- 2024
 
NewBase 25 March 2024 Energy News issue - 1710 by Khaled Al Awadi_compress...
NewBase  25 March  2024  Energy News issue - 1710 by Khaled Al Awadi_compress...NewBase  25 March  2024  Energy News issue - 1710 by Khaled Al Awadi_compress...
NewBase 25 March 2024 Energy News issue - 1710 by Khaled Al Awadi_compress...
 
Team B Mind Map for Organizational Chg..
Team B Mind Map for Organizational Chg..Team B Mind Map for Organizational Chg..
Team B Mind Map for Organizational Chg..
 
Data skills for Agile Teams- Killing story points
Data skills for Agile Teams- Killing story pointsData skills for Agile Teams- Killing story points
Data skills for Agile Teams- Killing story points
 
Developing Coaching Skills: Mine, Yours, Ours
Developing Coaching Skills: Mine, Yours, OursDeveloping Coaching Skills: Mine, Yours, Ours
Developing Coaching Skills: Mine, Yours, Ours
 
Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024
 
Michael Vidyakin: Introduction to PMO (UA)
Michael Vidyakin: Introduction to PMO (UA)Michael Vidyakin: Introduction to PMO (UA)
Michael Vidyakin: Introduction to PMO (UA)
 
Intellectual Property Licensing Examples
Intellectual Property Licensing ExamplesIntellectual Property Licensing Examples
Intellectual Property Licensing Examples
 
MC Heights construction company in Jhang
MC Heights construction company in JhangMC Heights construction company in Jhang
MC Heights construction company in Jhang
 
Lecture_6.pptx English speaking easyb to
Lecture_6.pptx English speaking easyb toLecture_6.pptx English speaking easyb to
Lecture_6.pptx English speaking easyb to
 
Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024
 
Chapter_Five_The_Rural_Development_Policies_and_Strategy_of_Ethiopia.pptx
Chapter_Five_The_Rural_Development_Policies_and_Strategy_of_Ethiopia.pptxChapter_Five_The_Rural_Development_Policies_and_Strategy_of_Ethiopia.pptx
Chapter_Five_The_Rural_Development_Policies_and_Strategy_of_Ethiopia.pptx
 
Upgrade Your Banking Experience with Advanced Core Banking Applications
Upgrade Your Banking Experience with Advanced Core Banking ApplicationsUpgrade Your Banking Experience with Advanced Core Banking Applications
Upgrade Your Banking Experience with Advanced Core Banking Applications
 
NASA CoCEI Scaling Strategy - November 2023
NASA CoCEI Scaling Strategy - November 2023NASA CoCEI Scaling Strategy - November 2023
NASA CoCEI Scaling Strategy - November 2023
 
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
 
Project Brief & Information Architecture Report
Project Brief & Information Architecture ReportProject Brief & Information Architecture Report
Project Brief & Information Architecture Report
 
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
Boat Trailers Market PPT: Growth, Outlook, Demand, Keyplayer Analysis and Opp...
 

From Napkin to Revenue - Introduction

  • 1. From Napkin to Revenue™ Transform You Ideas into Products Customers Want™ Tom Evans Lûcrum Marketing @compellingmktr "From Napkin to Revenue" and "Transform Your Ideas into Products That Customers Want" are Trademarks of The Lûcrum Group, Inc. Copyright © 2012, Lûcrum Marketing, All Rights Reserved
  • 2. High New Product Failure Rate • Robert G Cooper: One out of four development projects succeeds commercially. (i.e., 75% failure rate) • Jack Gordon: In the world we live in, somewhere between 80 percent and 95 percent of new product introductions fail. Copyright © 2012, Lûcrum Marketing, All Rights Reserved
  • 3. Why Do So Many Products Fail? 1. Idea to Product Copyright © 2012, Lûcrum Marketing, All Rights Reserved
  • 4. Why Do So Many Products Fail? 2. Not many people want to buy the solution. 3. Solution is not profitable. 4. Unable to communicate a clear reason to purchase the solution. Copyright © 2012, Lûcrum Marketing, All Rights Reserved
  • 5. Keys to Successful Products • Compelling Market Opportunity – Big painful issues – That many in your target market – Are willing to pay to solve • Compelling Solution Discovery – Differentiated Value Proposition + – Profitable business model – Time to market Validation • Compelling Market Strategy – Motivates target market – To solve problem with your solution Copyright © 2012, Lûcrum Marketing, All Rights Reserved
  • 6. Model for Discovery Four Key Steps of Discovery Validate Validate Validate Validate Hypothesis Opportunity Solution Market Market Problem Four Key Pillars of Discovery Product Business Model Market Strategy Valid Market Ready to Validation Valid Hypothesis Opportunity Launch Market Growth Product-to-Market is a trademark of Lûcrum Marketing Copyright © 2012, Lûcrum Marketing, All Rights Reserved
  • 7. Four Key Pillars of Discovery • Market Problem – if you’re not solving a problem, there is no need for a product! • Product – How do you solve the market problem in a valuable and differentiated manner? • Business Model – How do you deliver the benefit and profitably capture the value? • Market Strategy – Who is going to buy it and why? Copyright © 2012, Lûcrum Marketing, All Rights Reserved
  • 8. Market Problem • Need or want that is unsatisfied • Something someone wants to do and can’t • Something someone wants to do better • Compelling Market Problems – Big problem, many have, urgent to solve, willing to pay • Our challenge – Defining the solution before we understand market problem to be solved Copyright © 2012, Lûcrum Marketing, All Rights Reserved
  • 9. Areas of Needs & Wants Source: http://www.teach-nology.com/tutorials/teaching/whatareneeds.html Copyright © 2012, Lûcrum Marketing, All Rights Reserved
  • 10. Henry Ford’s Quote “If I had asked people what they wanted, they would have said faster horses.” Copyright © 2012, Lûcrum Marketing, All Rights Reserved
  • 11. What Do They Need (To Do)? “People don't want to buy a quarter-inch drill. They want a quarter-inch hole!” –Theodore Levitt Copyright © 2012, Lûcrum Marketing, All Rights Reserved
  • 12. Product • “Anything that can be offered to someone to satisfy a need or want” (Kotler – Marketing Management) • Delivers a benefit to buyer/user • Can be goods or services Copyright © 2012, Lûcrum Marketing, All Rights Reserved
  • 13. Business Model • How will the company make a profit by selling the product? – How solution will be delivered – Cost to deliver solution – How customers will be acquired – Cost to acquire customers – Who is going to pay and how much Often is inextricably linked to product Can be a point of differentiation or competitive advantage Copyright © 2012, Lûcrum Marketing, All Rights Reserved
  • 14. Business Model Examples Copyright © 2012, Lûcrum Marketing, All Rights Reserved
  • 15. Market Strategy • Who will buy and why – Target market – Buyers & user profiles – Problems to solve – Positioning in the market – Competitive advantages – Key messages to communicate Copyright © 2012, Lûcrum Marketing, All Rights Reserved
  • 16. Model for Discovery Four Key Steps of Discovery Validate Validate Validate Validate Hypothesis Opportunity Solution Market Market Problem Four Key Pillars Of Discovery Product Business Model Market Strategy Valid Market Ready to Validation Valid Hypothesis Opportunity Launch Market Growth Copyright © 2012, Lûcrum Marketing, All Rights Reserved
  • 17. Thank You! Tom Evans Lûcrum Marketing tevans@lucrum-marketing.com +1.512.961.5267 @compellingmktr Copyright © 2012, Lûcrum Marketing, All Rights Reserved