MARKETINGMASHUP2015

‘Everything that you need to fool your competitors this year.’

Do I have your attention?

OF COURSE I DO!

BECAUSE I AM NOT USING SLIDES LIKE……

THESE!

As goes the saying..

Create such slides as you, yourself would like to view.

For this, you can pay heed to the advice offered by Garr

Reynolds and Jesse Desjardins

APART FROM AN INTRESTINGLY MADE SLIDES, YOU NEED SOMETHING MORE…

A GOOD PRESENTATION.IT LARGELY DEPENDS ON HOW YOU SPEAK !

So, How to speak so that people want to

listen?

There are 7 Deadly Sins of Speaking

GossipingDogmatism

JudgingNegativity

Excuses

Exaggeration

Complaining

HONESTYAUTHENTICITYINTEGRITYLOVE

BE CLEAR AND STRAIGHT

BE YOURSELF

BE YOUR WORLD

WISH THEM WELL

Artistic slides and good presentations are, but not as important as the content of your slides

People Respect new ideas, for which, you need to think Out of the box

IT NEEDS PRACTICE TO GUIDE OURSELVES OUT OF

THE BOXAND BACK INSIDE TO WHERE WE LIVE

Today, WE FORM A NETWORK OF INFORMATION TODAY WHEREIN EVERYBODY HAS ACCESS TO THE SAME INFORMATION

It’s the usage of this information that is detrimental to our success.

Reality is out there for us to perceive in our own unique way.

LONG THINKING IS SOMETHING THAT TAKES US FAR

WE NEED TO FOCUS ON COMBINING ALL THE IDEASTHERE IS NO SINGLE ANSWER BUT MANY ALTERNATIVES WHILE THINKING OUT OF THE BOX

Marketers face multiple challenges in new product

development.

A constant stream of innovative products needs to be maintained in order to survive in the market.

The Innovation Imperative

Companies that fail to develop new products leave their existing offerings vulnerable

New Product Success

Cooper and Kleinschmidt have found that the number one factor determining the success of a new product is a Unique, superior product.

New Product failure

Reasons of new product failure are..

1. IGNORED OR MISINTERPRETED MARKET RESEARCH

2. OVERESTIMATES OF MARKET SIZE3. HIGH DEVELOPMENT COSTS

4. POOR DESIGN OR INEFFECTUAL PERFORMANCE

5. INCORRECT ADVERTISING, POSITIONING OR PRICE6. INSUFFICIENT DISTRIBUTION SUPPORT

7. COMPETITORS WHO FIGHT BACK HARD8. SHORTAGE OF IMPORTANT IDEAS IN CERTAIN AREAS

9. FRAGMENTED MARKETS10. SOCIAL, ECONOMIC AND GOVERNMENTAL CONSTRAINTS

11. SHORTER REQUIRED DEVELOPMENT TIME12. POOR LAUNCH TIMING

According to Seth Godin “ It’s not ok to fail, its imperative to fail “

Failure has to be considered as an inevitable part of discovery.

The next requirement that arises is to

oversee the Organizational structures and

processes for new product development.

For new product development, companies focus on

Customer driven engineering

Internal change and innovations

Some more efficient practices adopted by companies nowadays are:

Cross functional teams&

Stage gate systems.

The objective is to make the innovation process visible to all, clarify

the project leader the team’s responsibility at each stage.

Interacting with others, interacting with employees and studying competitors are chief factors in the New Product development

process.

But, no product can be successful unless the customer chooses it

Therefore we also need to focus on theFACTORS AFFECTING THE RATE OF DIFFUSION AND CONSUMER

ADOPTION OF NEWLY LAUNCHED PRODUCTS AND SERVICES

The various stages are

1. Awareness

2. Interest

3. Evaluation

4. Trial

5. adoption

The consumer base can be divided into many sections

The sections are…

Number of adopters

Time

The Whole Production Process can be divided into

stages

Managers must be fluent in solving problems by the case method

Consider the launch of Aquatred tires by Goodyear

Goodyear is planning to launch a new product namely ‘Aquatred’ tires.

Aquatred tires were meant to provide better driving traction under wet conditions.

Aquatred tires would be positioned as replacement tires for passenger cars. Various factors affecting the launch success needed to be taken care of.

Rigorous surveys and number crunching led to the following solutions..

A. Studies had shown that customers of Aquatred customers were more likely to replace all four tires and thus higher profits for the company. These

profits will be higher if the tires are sold via retail outlets as compared to wholesalers through whom the company earns a lower margin.

B. The high volume sales estimated for Aquatred tires would support new dealerships through the initial crucial survival phase. Additionally, customers hunting for the Aquatred would stumble across these new stores and thus an

increase in the outlet-loyal customers for the store.

C. This new stream of customers can be cultivated into ones loyal to the brand or at least earn some extra

bucks off them via service charges etc.

D. Availability of Aquatred tires solely and independent dealerships would rip off customers from wholesale and high volume supermarkets that were relatively difficult for the company to control and dictate. It would also help tackle the problem of low price and discount retails

from such chains that were known to irreparably spoil the market.

In the end, every new product has to pass the test of ‘break-even analysis’ to finally enter the market

successfully.

Some very innovative and successful companies thriving in the Indian market are

Some interesting quotes summing up points you may have missed are -

CREDITS• http://www.rgbstock.com• http://www.gratisography.com• http://pixabay.com• http://www.fontsquirrel.com• http://www.dafont.com• http://www.awwwards.com• Google images

Created by Sonal Choudhary , IIT BHU , during an internship by Prof.

Sameer Mathur , IIM Lucknow.www.IIMInternship.com