Entrepreneurship

Market and Marke*ng

Mushtak Al-Atabi

Outline

What is Marke*ng
CDIO for the Market
Life Cycle of a a Product (or a Service)
Crossing the Chasm
Market Evolu*on
Entry to Market
Marke*ng Novel Products and Services
Disrup*ve Innova*on
Marke*ng Commodi*esd Products and Services
Marke*ng in a Mature Market

What is Marke5ng?
Knowing the market and customers
requirements, needs and desires
Conceiving for the market
Designing for the market
Implemen*ng (manufacturing etc..) for the
market
Opera*ng (deliver, service, communicate) for
the market

CDIO for the Market

Economically Viable
Can form part of a sustainable business model
Technologically Feasible
Technology is available or expected to be

Desirable
People want and socially relevant

Sustainable
Environmentally sustainable

Viable

Feasible

Desirable

Sustainable

Balance does not mean that all the 4 components should be considered equally. This will
depend on the project.

Life Cycle of a Product (or a Service)

A new product (or a service) starts
its journey with only few people
willing to try it.
It is a Novelty
OSen it is expensive and has a
poor performance
If more customers see the
poten*al, a product may become
a common place in the market
If the trend con*nues the product
will behave as a Commodity

Novelty Products & Services

Crossing the Chasm
by Georey Moore

4%

16%

50%

20%

Novel Products & Services Lifecycle

10%

Performance/Price

Market Evolu5on

arket
M

e
h
t

f
o

d
n
E

High

Novel
Product
Disrup5ve innova5on
Clayton Christensen

Time

Commodi5sa5on

Entry to Market

Novel product (new Value Proposi*on)

Disrup*ve Innova*on
Marke*ng commodi*sed products
Marke*ng a product in a mature market

Marke5ng Novel Products & Services

Novel, New, Revolu*onary

Vision is necessary
Risk is high
Focus on Innovators
Empower Innovators to inuence the Early
Adopters

Novel Products Examples

Telegraph
Telephones
Mobile Phones
iPhone

Disrup5ve Innova5on
Performance/Price

Iden*fy a matured
market
Address the needs
of customers that
are not addressed
by the major players
Address needs and
desires of exis*ng
customers that may
not be currently
addressed

Market
e
h
t

f
o

d
n
E

h
Hig

Disrup5ve innova5on

Time

Disrup5ve Innova5on Examples

Budget Airlines
Skype
MOOC?

Marke5ng Commodi5sed Products

The best strategy is to try to dieren*ate the
products and services crea*ng a de-
commodi*sa*on eect
For*fy the salt with iodine
Bundle something with it

Marke5ng in a Mature Market

Decide on which end of the market do you
wish to serve. High end, middle range, mass
market.
Dieren*ate, based on customers needs and
desires
Environmentally friendly product or service
Organic

Focus on customer service