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advanced course business model
marketing
Session 6
business model
strategy
Now that you created a new business model...
What does it mean for the marketing strategy?
so what is a marketing strategy?
Blue ocean strategy (a company strategy)
Red ocean Blue ocean Exis%ng markets New markets
Current customer segments New customer segments
Heavy compe%%on No compe%%on (for now)
Very li>le to no space on the market Infinite market space
Exis%ng market rules Developing new market rules
No real innova%ons Value innova%ons
Killing compe%%on: the blood that flows Infinite open space: The blue depths of the ocean
Blue ocean strategy
-creating completely new industries (blue oceans)
-by fundamental differentation -creating value innovation (creating new benefits+services, reducing costs by remong less valuable features+services)
-use of the ‘four actions framework’
Four actions framework 1. Which of the factors that the
industry takes for granted should be eliminated?
2. Which factors should be reduced well below the industry standard?
3. Which factors should be raised well above the industry standard?
4. Which factors should be created that the industry never offered?
testing Business models
Is the new business model ready to stand up against it’s
environment?
theoretic models to use
Business model environment
-market forces -industry forces -key trends -macro-economic forces
Market forces
-market issues -market segments -needs and demands -switching costs -revenue attractiveness
Industry forces (porter)
-competitors -new entrants -substitute products -suppliers and others -stakeholders
Key trends (destep)
-technology trends -regulatory trends -societal and cultural trends -socioeconomic trends
Macro economic forces
-global market conditions -capital markets -commodities and resources -economic infrastructure
Business model evaluation
-Business Model Assessment -SWOT-analyse
business model
presentation
presentation.. -how are you going to tell a convincing story?
presentation.. -visualizing with drawings -visualize with post-it’s -telling a visual story (p. 158/159) -prototyping: sketch, BM-canvas, excel calculations, market research? (p. 165)
storytelling.. -introducing new ideas -overwinning resistance by telling a clear story -good stories clarify the BM-canvas -good stories involve listeners -good stories are told to others
of video.. Link
use your business model canvas!