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Slides for the SVPM Camp 2012 session.
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Deciding What Not to Do
Data Driven approach to GO/NO GO decision process
Basic Premises
The quality of a decision is always better, more credible, when it is substantiated by data/evidence.
Unstructured Customer Feedback is a valuable source of honest, critical information to support a Go/No Go decision.
Clearly defined methodology insures high integrity of decision making process, and by the extension, its results.
“Deciding what not to do is as important as deciding what to do. That is true for the companies, and it’s true for products.” – Steve Jobs
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Product Marketing 101(a)
…the aim of marketing is to make selling superfluous. The aim of
marketing is to know and understand the customer so well
that the product or service fits him and sells itself.” Peter Drucker
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Product Marketing 101 (b)
Before if you were making a product, the right business strategy was to put 70% of your attention, energy, and dollars into shouting about a product, and 30% into making a great product. So you could win with a mediocre product, if you were a good enough marketer. That is getting harder to do. The balance of power is shifting toward consumers and away from companies...the individual is empowered... The right way to respond to this if you are a company is to put the vast majority of your energy, attention and dollars into building a great product or service and put a smaller amount into shouting about it, marketing it. If I build a great product or service, my customers will tell each other.“
Jeff Besos, Founder & CEO of Amazon
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“Brilliant Ideas”
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Is Market Research a waste of time?
• "It's really hard to design products by focus groups. A lot of times, people don't know what they want until you show it to them."
Steve Jobs
• "If I asked my customers what they want, they simply would have said a faster horse."
Henry Ford
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What’s wrong with a survey?
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Essence of a “Product”
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Products are “hired” by customers
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Focus and Simplicity
• "That's been one of my mantras -- focus and simplicity. Simple
can be harder than complex: You have to work hard to get your thinking clean to make it simple. But it's worth it in the end because once you get there, you can move mountains."
Steve Jobs
• "Pointing is a metaphor we all know. We've done a lot of studies and tests on that, and it's much faster to do all kinds of functions, such as cutting and pasting, with a mouse, so it's not only easier to use but more efficient. “
Steve Jobs
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Look for meaning behind the words
“Apple does not use Market Research”
"Apple does not use buy Market Research"
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Opportunity is missed
by most people
because it is
dressed in overalls
and looks like work.
Thomas Edison
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Listening is hard, hearing is harder
Target Market Boundaries
“Job” = “Taking notes during brainstorming sessions that does not distract the flow of the session”
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Sourcing the Feedback
Unsolicited, public Customer Feedback
Walled Gardens Voice of Customer
Implicit Voice of Customer
CRM echoes Voice of Customer
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Extracting Intelligence
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Discover Opportunities
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Validate accuracy
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Deep Dive
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The moment of Judgement
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Case Study-life before iPod
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N=34,657
Navigation?
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Music quality?
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music quality
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creative-zen-mp3-player iriver-mp3-jukebox philips-mp3-player
rio-carbon mp3-player sony-walkman-mp3-player Importance
“Advertising can help you sell good products, but only your customers can help
you build a great Brand!”
Gregory Yankelovich
greg@amplifiedanalytics
@piplzchoice
415.742.2580
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