Turn Devices into Products

Transcription

1 Turn Devices into Products ESE111: Atoms, Bits and Information; Introduction to Electrical and Systems Engineering Jeffrey

2 Identify three critical marketing concepts Describe the value proposition canvas Use innovation and group decision-making techniques Select your product concept Describe your product

3 Identify three critical marketing concepts Describe the value proposition canvas Use innovation and group decision-making techniques Select your product concept Describe your product

4 1 A market segment is a group of customers sharing common desires, needs, and buying patterns. William Davidow, Marketing High Technology

5 2 A product is the totality of what a customer buys. William Davidow, Marketing High Technology

6 2 Devices What we invent Design a zigbee networked pedometer that is capable of sharing data with another user of a networked pedometer as well as a host PC. Complete Products What customers buy Value, benefits, experience $

7 3 When it comes to hi-tech ventures, one equation rules p = m v Product must serve a need better than others and be broadly applicable Marketing must drive the product into the market quickly Source: Mike Zisman, Golftripgenius.com

8 Identify three critical marketing concepts Describe the value proposition canvas Use innovation and group decision-making techniques Select your product concept Describe your product

9 Good products offer something of value to someone who values it The Value Proposition Canvas Gain Creators Gains Products & Services Customer Job(s) Pain Relievers Pains Adapted from the Value Proposition Canvas,

10 Assess all of the possible customers and segments to explore value perception List all possible customer segments Remember, a segment shares common desires, needs, and buying patterns Develop personas and/or use cases to help define segment (and tee-up value propositions) Establish the role of the customer End user Decision maker Influencer Payor Beneficiary

11 To understand your customer, you must learn the jobs they are trying to accomplish Functional Help the customer complete a task, solve a problem [Basic needs Satisfy basic needs for communications, tools, other] Social Help the customer look good or gain status/power Emotional Focus on aesthetics or feeling good, being secure Gains Pains Customer Job(s)

12 Seek measurable ways to describe the benefits for your customer Before, during, and after the job Gains: Positive emotions, revenues and desires that would surprise and delight your customer Pains: Negative emotions, undesired costs, risks and situations you help your customer avoid or reduce Gains Pains Customer Job(s)

13 For each customer segment (and roles), explore the measurable benefits you deliver Customers realize benefits Developers create stuff Entrepreneurs create value for customers, capture value for companies March 8 13

14 Deliver the complete product that performs the job(s) that customers require Products & Services Gain Creators Pain Relievers Identify which of the three [four] job types you address Functional [Basic needs] Social Emotional Determine whether products and services are tangible, digital/virtual, intangible, or financial Rank the level of importance each product/service is to the customer

15 Outline the value your products and services deliver to the customer(s) Products & Services Gain Creators Pain Relievers Outline the value your products and services deliver to the customer(s) Pain relievers reduce or eliminate costs, risks, negative emotions or situations Gain creators create or enhance customer benefits, revenue/profit, utility, or positive emotions

16 Good products offer something of value to someone who values it The Value Proposition Canvas Products & Services Gain Creators reduce or eliminate costs, risks, negative emotions or situations Pain Relievers creators create or enhance customer benefits, revenue/profit, utility, or positive emotions Gains Positive emotions, revenues and desires that would surprise and delight your customer Pains Negative emotions, undesired costs, risks and situations you help your customer avoid or reduce Customer Job(s) Functional Help the customer complete a task, solve a problem Social Help the customer look good or gain status/power Emotional Focus on aesthetics or feeling good, being secure Basic needs Satisfy basic needs for communications, tools, other Adapted from the Value Proposition Canvas,

17 Identify three critical marketing concepts Describe the value proposition canvas Use innovation and group decisionmaking techniques Select your product concept Describe your product

18 Dynamics of Group Decision-Making Tools New Topic Brainstorming Multivoting Decision Point Familiar Opinions Refinements Diverse Perspectives Consolidated Thinking

19 Breakout Exercise: Choosing from among concepts Count off by 4 s

20 Build our candidate product list 1. INDIVIDUAL: Review your list of 40 topics and choose 20 to share, including 5 no one else has. 2. GROUP: Go in turn, ask each person for an idea. Take one from your list of 20 or one you just thought of. You can also pass at any time. NO CRITICISM or discussion. 3. GROUP: Write each idea on a flipchart. 4. Keep writing ideas on flipchart until you run out.

21 Multivote to select short list 1. Number or letter each item on list 2. Each team member vote for n top topic choices, where n=(1/2 number of ideas + 1) 3. Tally votes and eliminate items with <3 votes 4. Repeats Steps 2 & 3 until you have 5 choices 5. Get back with your project partner ( paired )

22 Identify three critical marketing concepts Describe the value proposition canvas Use innovation and group decision-making techniques Select your product concept Describe your product

23 Select your project product 1. Review and share your individual list of 5 choices 2. Discuss and select one from your combined list of 10, or select one that you both like better

24 Identify three critical marketing concepts Describe the value proposition canvas Use innovation and group decision-making techniques Select your product concept Describe your product

25 Describe your project product 1. Review the Value Proposition Canvas 2. Describe your customer 3. Describe the job(s) (s)he has to do 4. Describe the gains and pains associated with the job(s) 5. Discuss and describe your product s gain creators and pain relievers

26 Good products offer something of value to someone who values it The Value Proposition Canvas Products & Services Gain Creators creators create or enhance customer benefits, revenue/profit, utility, or positive emotions Pain Relievers reduce or eliminate costs, risks, negative emotions or situations Gains Positive emotions, revenues and desires that would surprise and delight your customer Pains Negative emotions, undesired costs, risks and situations you help your customer avoid or reduce Customer Job(s) Functional Help the customer complete a task, solve a problem [Basic needs Satisfy basic needs for communications, tools, other] Social Help the customer look good or gain status/power Emotional Focus on aesthetics or feeling good, being secure Adapted from the Value Proposition Canvas,

27 Now What? Incorporate today s work (and your follow-up discussion) into your final project poster presentations Target customer persona Key marketing messages focused on your value proposition Jobs Products/Services Pains Pain Relievers Gains Gain Creators

28 Turn Devices into Products ESE111: Atoms, Bits and Information; Introduction to Electrical and Systems Engineering Jeffrey