MODULE3PART1|

Int
roduc
tiont
oMa
rke
ting Cor
eMa
rke
tingConc
ept
s
 Ne
eds
,wa
nts
,andde
mands
MARKETI
NG101|
Def
ini
ngMa
rke
tingf
ort
he21s
tCe
ntur
y
 Ta
rge
tma
rke
ts,pos
it
ioni
ng,s
egme
nta
tion
 Of
fer
ingsa
ndbr
ands
 Va
luea
nds
ati
sfa
cti
on
GoodMa
rke
tingi
sNoAc
cide
nt  Ma
rke
tingc
hanne
ls
St
arbuc
kspl
anst
oens
urei
tsma
rke
tings
ucc
ess
esi
ncount
ri
esa
roundt
he  Suppl
ycha
in
worl
d.  Compe
tit
ion
 Ma
rke
tinge
nvi
ronme
nt
Wha
tisMa
rke
ting?
Fi
veType
sofNe
eds
Ma r
keti
ngi sanorga
nizat
ionalfunct
iona ndas etofproc
essesforcre
ati
ng,
communi c
ati
ng,a
ndde l
ive
ringva l
uetoc ust
omersandformanagingcus
tomer  Stat
ed needs-wha
tthe c
ust
ome
ras
ksf
or.e
g.wa
nti
ng a
n
r
e l
ati
onshi
psinwaystha
tbe ne
fitt
heor ga
nizat
ionandit
ssta
keholder
s. ine
xpensi
vecar

Wha
tisMa
rke
tingMa
nage
ment
?  Realneeds-wha
tthes
tat
edne
edsa
ctua
llyme
an.e
g.wi
thl
ow
ope
rat
ingcos
ts
Market
ingma nagementi
sthear
tandsci
enc
eofc hoosi
ngtarge
tma r
ke t
sand
get
ti
ng,keeping,andgrowingcus
tomer
sthroughc r
eat
ing,del
ive
ring,and  Uns
tat
ednee
ds-wha tt
hecustomera
lsoe
xpe
ctsbutdoe
snota
sk
communica
tingsuper
iorc
ustome
rval
ue. f
or.eg.e
xpect
sgoodaf
ter
-sa
lesse
rvi
ce

Se
lli
ngi
sonl
yth
eti
poft
hei
cebe
rg  De
lightnee
ds-needs t
hatar
enotess
ent
ialbutwoul
dde
lighti
f
met
.e g.woul
dli
keagiftwi
ththec
ar
“Therewillalwaysbeane edforsomesell
ing.Buttheai
mofma rket
ingisto
makes el
li
ngs uper
fluous.Thea i
mofma rketi
ngistoknowandunderst
andthe  Secre
tne eds-needstha
tthecus
tome
rdoe
snotexpr
ess
,ofte
n
cust
ome rsowe llt
ha ttheproductorser
vicefit
shima ndsel
lsi
tsel
f.Ide
all
y, int
angibl
ei nna
tur
e.eg.want
stobeseenbyf
ri
endsasToyota
marketi
ngs houldr
e sul
tinac ust
ome rwhoisr e
adytobuy.Allt
hatshoul
dbe publi
caorEE90
neededistoma ketheproductorservi
ceavai
labl
e.”

-Pe
terDr
ucke
r

Ma
rke
ting’
sfi
rstt
ask:di
scove
ringc
ons
ume
rne
eds

THEMARKETI
NGMI
X–“
FOURP’
s”
 Pr
oduc
t(WhoorWha
t?)
 Pl
ace(
Whe
rea
ndWhe
n?)
Ma
rke
ting’
sse
condt
ask:Sa
tis
fyi
ngc
ons
ume
rne
eds  Pr
ice(
Howmuc
h?)
 Pr
omot
ion(
WhyorWhynot
?)
o Pr
oduc
tst
hata
reTa
ngi
ble

Wha
tisMa
rke
ted?

PRODUCT
Gr
eatc
ompa
nie
sar
ebui
ltongr
eatPRODUCTS -El
onMus
k

UNI
QUESELLI
NGPROPOSI
TION(
USP)
Wha
tse
tsyourpr
oduc
tapa
rtf
romt
her
estoft
hec
ompe
tit
ion?
Suc
ces
sfulNe
wPr
odu
ctLa
unc
hesRe
qui
reCa
ref
ulPl
anni
ng  Te
chnol
ogy
 Pr
est
igeorEmot
ion

VALUEPROPOSI
TION

 Aninnovat
ion,se
rvi
ce,orf
eat
urei
nte
nde
dtoma
keac
ompa
nyor
pr
oductat
tr
acti
vetocust
omer
s.

 Wha
tva
luedoyoui
nte
ndt
ode
live
rtoyourc
ust
ome
rs?
ASi
mpl
eMa
rke
tingSys
tem
 Tur
ningprobl
emsi
ntooppor
tuni
ti
esc
anl
eadt
ocompe
lli
ngva
lue
pr
oposi
ti
ons.
PLACE PEOPLE

CHARACTERI
STI
CS OF A GOOD BUSI
NESS
ENVI
RONMENT PLACEOFEVI
DENCE
 Goodpopul
ati
ons
ampl
esi
ze,c
los
etoyourt
arge
tma
rke
t
 Robus
tec
onomya
ndpr
ese
nceofl
ive
lihoodoppor
tuni
ti
es
 Le
velofs
ecur
it
ytha
tspur
sshoppe
rconf
ide
nce
 Conve
nie
ncea
nde
aseofa
cce
sst
oyourc
ust
ome
rs.

DI
STRI
BUTI
ONCHANNELS
Howc
anyourc
ust
ome
rsa
cce
ssorpur
cha
seyourpr
oduc
t? COMMON I
DEAS ABOUT MARKETI
NG:MYTHS OR
 Onl
ineSt
ore
s
FACTS?
 Br
icka
ndMor
tarSt
ore
s  “
Marke
ti
ngisthes
amea
sAdve
rti
si
ng.I
t’
sal
laboutbi
ll
boa
rdsa
nd
c
ommerci
als
!”
PRI
CE
 “
Wes houl
dn’
tai
mtos
ellt
oal
lpe
opl
ebe
caus
enote
ver
yonei
sour
c
ust
ome r
.”

 ”
Lowe
ringpr
ice
sle
adst
oinc
rea
seds
ale
s!”

 ”I
nma rke
ting,be
ingt
hef
ir
stort
hema
rke
tle
ade
rma
tte
rst
he
PRI
CINGSTRATEGI
ES most
.”

1. Cos
t-pl
uspr
ici
ng–Ca
lcul
ati
ngc
ost
sanda
ddi
ngama
rk-
up  “
Mar
ket
ingi
sana
rt,notas
cie
nce
”

2. Compet
iti
ve pr
ici
ng – Se
tti
ng a pr
ice ba
sed on wha
tthe  “Mar
ket
ingisonl
ypr
act
ica
lforbus
ine
ssma
jor
sorma
nage
ment
compe
tit
ionc
har
ges pr
ofe
ssi
onal
s”

3. Value
-bas
edpr i
cing–Se t
ti
ngapr i
cebase
donhow muc
hthe
cus
tomerbel
ieve
swhatyou’r
ese
lli
ngiswor
th

4. Pri
ceski
mmi
ng–Se
tti
ngahi
ghpr
icea
ndl
owe
ringi
tast
hema
rke
t
evol
ves

5. Pe
netr
ati
onpri
cing–Se tt
ingal
ow pr
icet
oent
erac
ompe
tit
ive
mar
ketandr
ais
ingitl
ate
r

PROMOTI
ON

CHARACTERI
STI
CS OF A GOOD PROMOTI
ONAL MODULE3PART2|
Tar
getMa
rke
t
STRATEGY
 At
tent
iongr
abbi
ng
Wha
tist
arge
tma
rke
t?
 Me
mor
abl
e
 Cl
eara
ndConc
ise  I
tisagroupofcus
tomerstowa
rdswhic
habusi
nesshasde
cide
dto
 De
live
reda
tther
ightpl
acea
nda
tther
ightt
ime a
imitsmarke
tinge
ffor
tsandul
ti
mate
lyit
smer
chandi
se.
 Ta
rge
ted
 A well
-def
ine
dta
rge
tma
rke
tist
hef
ir
ste
leme
ntt
oama
rke
ting
 Emot
iona
l s
tra
tegy.
ABOVEANDBELOW THELI
NEADVERTI
SING
Ta
rge
tingaDe
fini
teMa
rke
t
Tar
getMarket
ingal
lowsthec
ompanyt
ofocusonmar
ket
ingpe
s oandbr
and
mess
ageonaspeci
fi
cma r
kett
hati
smor
eli
kelyt
obuyf
romhiscompanyt
han
ot
hermar
kets
.

SOCI
ALMEDI
AMARKETI
NG
Ahybr
idofAbovea
ndBe
lowt
hel
inema
rke
ting

THEMARKETI
NGMI
X–“
TheAddi
ti
ona
l3P’
s”
Choos
ethet
arge
tma
rke
tbyme
ansof
…
 Pr
oce
s Howt
s( oava
il?)
 Pe
opl
e(Whowi
llde
live
rore
xec
ute
?)  Needs.I
tisusual
lysomethi
ngthec
ust
ome
rdo
esnotha
veorane
ed
 Pl
aceofEvi
denc
e(I
fse
rvi
ce;qua
li
tyI
fapp;UX/UI) t
hatisnotcur
rent
lybeingmet.

PROCESS o Wha
tunme
tne
edsdopr
ospe
cti
vec
ust
ome
rsha
ve?
o Howdoe
sthebus
ine
ssme
etdoe
sne
eds
?

 Wa
nts
.Iti
sac
ust
ome
rs’de
sir
eorwi
sh.I
tca
nal
sobeade
fic
ienc
y.

o Whatismor
eimpor
tant
?WANTSORNEEDS?Woul
dyou
r
athe
rbewant
edorneeded?
  Pr
obl
ems
.Pe
opl
ebuyt
hingst
osol
veas
pec
ifi
cpr
obl
em.

o Wha
tpr
obl
emsdoe
sthepr
oduc
tors
ervi
ces
olve?

 Per
cept
ions.Thenega
tive andpos
it
iveoutl
ookorideathatt
he
cus
tomershavea
boutt
hec ompa
nyandit
sproduc
tsors
ervi
ces
.

o I
nfor
mati
ongather
edaboutt
hesec
oncer
nswillbeu
seda
tthe
s
tar
tofmarke
tingandpromot
ingt
hebusi
nes
s.

Bus
ine
sst
oBus
ine
ssMa
rke
t
I
tisme
eti
ngt
hene
edsofot
herbus
ine
sse
s.

 B2BMa
rke
tSe
gme
nta
tion
1. Ge
ogr
aphi
cTa
rge
tMa
rke
tSe
gme
nta
ti
on
2. Fi
rmogr
aphi
cTa
rge
tMa
rke
tSe
gme
nta
tion
3. Ps
ychogr
aphi
cTa
rge
tMa
rke
tSe
gme
nta
ti
on
4. Ne
ed-
Dri
venTa
rge
tMa
rke
tSe
gme
nta
tion De
mandSi
deGa
ps
a
. Apr
ice
-foc
use
dse
gme
nt
b. Aqua
lit
yandbr
and-
foc
use
dse
gme
nt  Cust
ome
rsati
sfa
cti
ona bounds,a
ndma
nyc
ons
ume
rswoul
dli
ket
o
cha
nget
hei
rcurr
entsuppli
ers.
c
. As
ervi
ce-
foc
use
dse
gme
nt
d. Apa
rtne
rshi
p-f
ocus
eds
egme
nt  Alt
houghagapma ye xi
stint
hesensetha
texist
ingf
irmsarenot
of
feri
ng whatconsumer
sma yide
allydes
ire
,therei
sal i
mitt o
whatbuye
rswouldbewil
lingt
opayfor.

 Thi
sist
hemosti
mpor
tantpa
rtoft
hefe
asibi
li
tyst
udya si
trequi
res
t
oknowthede
mandortheneedoft
heproduct
/s
ervi
ceoff
eri
ng.

 TheDe mandAna l
ysi
s presentsthepot
ent
ialma r
ketdema nd on
t
heba s
isoft
hes e
rvic
ea r
ea,demographi
cprofi
le,st
akeholder
sand
cl
ient
sandothe
rident
ifyi
ngde mandsoft
heproductorservic
e.

 Geogr
aphi
calLocat
ions
.Itprovide
sthescopeoft
heservi
cea r
ea
(
numbersofci
ti
es,t
ownsorte
r r
it
ori
alar
ea)oft
hefe
asi
bil
it
ystudy.
Bus
ine
sst
oCons
ume
rMa
rke
t
 Socio-
De mogr a
phicProfil
e.I
tentai
lst
hes ur
veyofr
ele
vantda
taa s
 These
gment
ati
onofconsume rmar
ket
sneedsthecre
ati
onofs
ub- totheincome ,prof
ess
ion,genderdi
str
ibuti
on,a
gera
nge,andother
gr
oupsfr
omalarge
rpopula
tiontomores
pecif
ica
llyt
arge
t. quanti
fi
able de mographic profi
le t hat may a ff
ect t he
implementat
ionofthepr oj
ect
 Segment
ati
oni
nB2Cisaboutide
nti
fyi
ngpr
eci
segr
oup
sofpe
opl
e
ba
s e
dongener
alc
har
act
eri
st
ics  Stake
holder
sa ndClie
ntsPr of
il
e.Theprojec
tmus tcl
earl
yi de
nti
fy
thecl
ientsthatnee
dt heproduct
sorservi
ces.Thepote
ntia
lbuyers
 B2CMa
rke
tSe
gme
nta
tion andcli
entsaretherel
evantdataneede
dt opres
entint
hisproje
ct.

1. De
mogr
aphi
cFa
ctor
s  Othe
r I denti
fyi
ng De ma nd Ana lys
is. Ident
ifyi
ng de ma nd
2. Ps
ychogr
aphi
cFa
ctor
s det
ermina ntsa r
ec onduc t
edt hrough resear
chs t
udy through
as
sessme nt,pri
ma r
ydoc ume nt
sa stos oci
o-demographi
cprof il
e,
3. Be
havi
ora
lFa
ctor
s
st
akeholde r
sandc l
ients
’ma r
ketsharesandotherr
elevantdat
at hat
4. Con
sume
rLi
fes
tyl
es(
Cons
ume
rTr
ends
) mayha vebe ar
ingtothepr oje
c t
.

 Aft
erident
ifyi
ngdema
ndastotherel
eva
ntdat
aavail
abl
ei nthe
f
easi
bil
it
ystudy,l
ooki
ntot
heda
taal
ongwitht
hepa
st,pre
senta
nd
f
utur
edema nd.

 PastDema ndarethehist
ori
calsa
lesdat
awhichref
lec
tsthepas
t
per
for
ma nce in t he ma r
ket
. Pres
ent Demand shows the
sus
tai
nabil
ityofthedema ndwhichwil
lthe
nbet hebasi
softhe
Fut
ureDe mandForecas
t.

Suppl
ySi
deGa
ps

 Suppl
ysidegapscomea boutwhenabu sine
ssfindstha
tthe
ser
vic
est
hati
thast
radit
iona l
lyof
fer
edtocus
tomersi
nthepas
tare
nowtooe
xpensi
vet
oj us
tifytheval
uetheyprovi
de.

 Afterunderst
andingtheexi
st
ingsuppl
yinthema r
ket,therel
eva
nt
datawillbeanalyse
da st
othemarketsha
resofea
chs uppli
eri
nthe
servi
cea r
ea.Ma rke
tShar
eistheperce
ntageofama r
ke ta
ccount
ed
De
mandAna
lys
is forbyas peci
fi
ce nt
it
y.

 Iti
smaki
nganumer
ica
leva
lua
tionoft
hema
rke
tandt
hes
egme
nts
oft
hemarke
tdef
ine
d.

 Pot
enti
alDemand.I
tist
hema
ximumt
hec
ons
ume
rsc
oul
dbuyi
na
det
ermine
dper
iodofti
me.

 Act
ualDemand.Demandfortheproductors
ervi
cet
hisye
arort
he
pr
evi
ousyea
riftheda
taisnotava
ilabl
e.

 FutureDe ma
nd(For
eca
st)
.Toe st
abl
is
hfutur
edeman d
,est
imate
theincre
asei
nde
ma nd f
orthene
xtyeara
sape r
cent
ageofact
ual  TheSupplyAnalys
iss
howsthee
xis
ti
ngsupplyc
ondi
ti
onpr
iort
o
dema nd. t
heimplement
ati
onoft
henewbus
ine
ssve
nture
.

 Evol
uti
onofDema nd.Toseethepotent
ialevol
utionofdema nd,  Thes t
artupbus i
nessmustha vedeta
ile
dda t
aa stot hema r
ket
makeagra
phofhistor
ica
lsa
lesinyoursector
.Usingthi
s,youc an share
si n a given geographic
allocati
on de mographic dat
a,
se
ethemarke
ttr
endsa ndde
finet
hephasesoftheprodu
ctlif
ecycle sta
keholdersandcli
ents
,andotherre
lat
eds uppl
yf a
ctor
s.Ba s
edon
supplya nal
ysis
,onec ans how thepast,presentandpr oje
cted
supply.

 Aft
e rident
ifyingtheexis
tingsuppl
y,therelevantdat
awi l
lbe
analys
eda stot hemar
kets
ha r
esofeac
hsuppli
erinthese
rvi
ceare
a
fol
lowedbyt hema r
ket
ingplan.Samestat
is
ti
ca lana
lys
iswil
lbe
usedtoanalysethegr
owthfor3to5years
De
man
dandSuppl
yGa
pAna
lys
is  Bar
rie
rstha
tcanbede
vel
ope
dtoa
voi
dcompe
tit
ionf
rome
nte
ring
i
nte
ndedmarke
t.
 GapAna l
ysi
sinvol
vesanal
ysi
ngthecurr
entmar
ketof
fer
ingt
o
as
ses
stheext
entt
owhichthe
yme e
tcus
tomerde
mands
.  Anywe a
kne
sst
hatc
anbema
deus
eofi
nthepr
oduc
tde
vel
opme
nt
cyc
le.
 DemandSideGapsi
nvol
veamar
ketsit
uat
ionwher
econs
umersa
re
notsat
is
fie
d buyi
ng whati
savai
labl
e—e i
the
rpoorservi
ceor Di
rec
tandI
ndi
rec
tCompe
tit
ion
expe
nsi
ve.
 Di
rec
tCompe
tit
ion
 SupplySi
deGapsi
nvol
vefi
rmstha
tprovi
des
ervi
cet
hata
rene
ede
d,
butonest
hatc
anbemetatl
owerpr
ice
. 1. Off
ert he same product
sa nd se
rvi
ces of i
dent
ic
al
f
uncti
onal
it
ytosi
mil
arc
ust
omerbas
e.
 Themos tdif
fi
c ul
tpartinthemarketi
ngana
lysi
si scombi
ngthe
rel
evantd
ataasident
if
iedinthepa
st,pr
ese
ntandproje
cte
ddema
nd 2. Pric
ed,adver
ti
seda
ndme rchandi
sedsimi
lar
lytoa ppe
alt
o
andsuppl
yanalysi
s. thesameint
ende
dfi
eldofc
us t
omersanddemogr
aphi
cs.

3. Usethesa
mestra
tegyinadver
ti
si
ngtobringinf
orma
ti
onof
pr
oduct
sands
ervi
cestot
arget
eddemogr
aphic
s.

4. Be
longst
othes
amei
ndus
try.
o De
mand-Su
ppl
y=Ga
p.
 I
ndi
rec
tCompe
tit
ion
o I
fthega
pispos
it
ive
,thepr
oje
cti
svi
abl
e.
o I
fthega
pisne
gat
ive
,donotc
ont
inuet
hema
rke
t. 1. Of
fers
ome
wha
tdi
ff
ere
ntpr
oduc
tsa
nds
ervi
ces
.

Pr
oje
cte
dSa
les 2. Tar
gets
imil
arc
ust
ome
rba
sewi
tht
hegoa
lofs
ati
sfyi
ngt
he
sa
meneed.
 Pr
oje
cte
dSa l
esist
hea mountofr
eve
nue ac
ompa
nye
xpe
ctst
o
ea
rnatsomepoi
nti
nthefut
ure
. Te
chni
que
sava
ila
blet
oas
ses
sindus
trya
ttr
act
ive
nes
s
 Smal
lbus i
nes
sownersorsal
esmanage
rsusua
llymaket
hesa
les  As
ses
singi
ndus
trya
ttr
act
ive
nes
s
pr
oje
c t
ions
. The
y ma y obt
aininput fr
om s a
lesre
ps,top
managementa
ndthemar
ket
ingde
part
ment. o Thef
ivec
ompe
tit
ivef
orc
esmode
l
o St
udye
nvi
ronme
nta
landbus
ine
sst
rends
 Mostsmallcompani
esfirs
tc a
lculat
ethecos
tsofproduci
ngor
pur
cha
singthei
rproduct
sors ervic
es.The
ythende
terminehow TheFi
veCompe
tit
ivef
orc
esmode
l
manysal
esitwi
llt
aketobrea
ke ven.
Thi
smodelr
ecogni
sesandeva
lua
tesfivecompe
tit
ivefor
cest
hatshapee
ach
 Economicc ondi
ti
ons,seas
onalsal
esspi
kes,the i
nte
nsi
ty of i
ndust
rya
ndfa
cil
ita
test
ofi
ndoutanindust
ry’
sweaknes
sandst
rengt
h.
competi
ti
ona ndpopul
ati
onshi
ft
sal
soar
efact
ore
dintodete
rmine
sal
esproj
ect
ions.

Ri
val
ryAmongExi
st
ingFi
rms
TAM SAM SOM Ma
rke
tEva
lua
tions
 Thema j
orf
orceisthenumberandca pabi
li
tyofcompe
tit
orsint
he
 TAM =Tot a
lAd dres
sable/
Avail
abl
eMa r
ketist
hetotalmarke
tfor market
.Manyc ompeti
tor
s,off
eri
ngundi ff
ere
nti
ate
dproduct
sand
yourproduct.Thisise ve
ryoneintheworl
d whoc ouldbuyyour se
rvic
es,wi
lldi
mini
s hmarke
tatt
ract
iveness
.
produc
t,regardl
essofthecompeti
ti
onint
hema r
ket
.
 Fact
orst
hatdet
ermi
net
hei
nte
nsi
tyoft
her
iva
lrya
monge
xis
ti
ng
 SAM =Servic
eabl
eAva i
labl
eMa r
ketistheport
ionofthema r
ket fi
rmsina
nindust
ry.
tha
tyouc anacquire.Fore xample,yourproductma yonlybe
avai
la
blei
nonel anguage,soyourSAM woul dbet hesubs
etof o Numbe
randBa
lanc
eofCompe
tit
ors
t
heTAM t hatspe
a ksthelanguagetha
tyourproductisdeve
loped
for
.  Themorec
ompe
tit
orst
her
eare,th
emorel
ike
lyitist
hat
oneormorewi
lltr
ytoga i
nc ust
ome
rsbyc ut
ti
ngits
 SOM =Se r
viceObtai
nableMar
ke tisthesubsetofyourSAM t hat pri
ce.
youwillrea
lis
ti
cal
lyge ttous
eyourpr oduct
.Thisise f
fec
tivel
y
yourt
arge
tma r
ketthatyouwil
linit
ial
lytrytosel
lto. o De
gre
eofDi
ff
ere
nceBe
twe
enPr
oduc
ts

 Thedegr
eetowhichproduct
sdi
ffe
rfr
omonepr
oduc
tto
anot
heraff
ect
sindus
tryri
val
ry.

o Gr
owt
hRa
teofa
nIndus
try

 Thecompet
it
ionamongfi
rmsinaslowgr
owthindus
try
i
sstr
ongert
ha na
mongthosei
nfas
t-gr
owt
hindust
ri
es.

o Le
velofFi
xedCos
ts
MODULE3PART3|Compet
it
iona
ndI
ndus
try
 Fir
mst hathavehi ghfixedcostsmustsel
lahigher
Ana
lys
is volumeoftheirproducttoreac
ht hebr
eak-
eve
npoint
tha
nf i
rmswit
hl owf i
xedcost
s.

Thei ntent
ionofa
nal
ysi
ngc
ompe
tit
ioni
stof
indoutt
he Thr
eatofNe
wEnt
rant
s
fol
lowing:
 Lucrati
ve ma rket
s ma gne
tis
e ne w e ntr
ants, which e r
odes
 Thestr
engt
handwe
akne
sse
soft
hec
ompe
tit
orswi
thi
nthet
arge
t prof
itabi
li
ty.Unle
ssincumbe nt
shavetoughandr es
il
ientbar
rie
rsto
marke
t entr
y,l i
kepa t
ents
,e conomiesofs cal
e,c a
pit
a lrequi
rement
sor
governmentpoli
cie
s,thenprofi
tabi
li
tywilldecl
inetoac ompet
iti
ve
 St
rat
egi
est
hatwi
llof
ferdi
st
inc
tcompe
tit
ivea
dva
nta
ge. rat
e.
  Ec
onomi
esofSc
ale suppl
ier
stolowercos
tsa
ndthusa
ffe
ctt
hepr
ofi
tabi
li
ty
ofthei
ndust
rie
sfromwhi
cht
heybuy.
o I
ndust
ri
esthatarechar
act
eri
zedbyl ar
geeconomiesofsca
le
a
rediff
icul
tfornewfir
mstoe nt
er,unl
esst
heya r
ewi l
li
ngto o Buye
r’sCos
ts
a
cceptacostdi
sadva
nta
ge.
 Thegr
eat
ertheimport
anceofani
temistoabuyer
,the
 Pr
oduc
tDi
ff
ere
nti
ati
on mores
ens
it
ivethebuyerwil
lbet
othepr
icei
tpays
.

o Indust
ri
ess
uc hasthesof
tdri
nkindus
trytha
tarec
hara
cte
rized o De
gre
eofSt
anda
rdi
zat
ionofs
uppl
ier
s’pr
oduc
t
byf i
rmswit
hs t
rongbrandsar
ediff
icul
ttobre
akint
owithout
spendi
ngheavil
yona dver
ti
si
ng.  Thedegr
eetowhichasuppl
ier
’sproduc
tdif
fer
sfromi
ts
compe
tit
orsaf
fec
tthebuyer
’sbar
gaini
ngpower.
 Ca
pit
alRe
qui
reme
nts
o Thr
eatofba
ckwa
rdi
nte
gra
tion
o Thene e
dtoinvestla
rgeamount
sofmone
ytoga
ine
ntr
anc
eto
anindust
ryi
sa nothe
rbar
rie
rtoent
ry.  Thepowerofbuyersi
senhance
difther
eisac re
dibl
e
t
hrea
ttha
tthebuye
rmighte
ntert
hesuppl
ier
’si
ndust
ry.
 Cos
tadva
nta
gesi
nde
pende
ntofs
ize
Wha
tIsI
ndus
tryAna
lys
is?
o Exi
sti
ngfir
m mayhavecos
ta dva
ntagesnotre
lat
edtosize
.
Forexample,t
heexi
st
ingfi
rmsi na nindust
ryma yhave  I
ndus
try
pur
chase
dlandwhe
nitwasl
essexpensi
vetha
nitist
oday.
Anindust
ryi
sagroupoff i
rmsproducingasimil
arproduc
tor
 Ac
ces
stodi
st
ri
but
ionc
hanne
ls se
rvi
ce,s
ucha
sai
rl
ine
s,dr
inks
,fur
nit
ure,orel
ect
roni
cgames.

o Dist
ri
buti
on cha
nne
lsa r
e of
ten ha
rdt ocr
ack.Thisis  I
ndus
tryAna
lys
is
par
ti
cula
rlyt
ruei
ncrowde
dmarket
s,suc
hast
heconve
nie
nce
st
oremarket
. I
sbus
ine
ssr
ese
arc
htha
tfoc
use
sont
hepot
ent
ia
lofa
nindus
try.

 Gove
rnme
nta
ndl
ega
lba
rri
ers Thr
eeKe
yQue
sti
ons
o Someindus
tri
es,s
uchasbr
oadca
sti
ng,r
equi
ret
hegr
ant
ingof Whenstudyi
nganindus
try,anent
repr
ene
urmus
tans
wert
hre
eque
sti
ons
ali
cens
ebyapublicaut
hor
it
ytocompet
e. be
for
epursui
ngt
hei
deaofstar
ti
ngaf
ir
m.

Ea
syvs
.Di
ff
icul
ttoe
nte
r  Que
sti
on1

 Ea
syt
oent
er o Istheindus
trya
ccess
ible
—inot he
rwor
ds,i
sitar
eal
is
ti
c
pla
ceforanewvent
uretoent
er?
1. Commont
echnol
ogy
2. Ac
ces
stodi
st
ri
but
ionc
hanne
ls  Que
sti
on2
3. Lowc
api
talr
equi
reme
nts
o Doest
heindus
tryc
ont
ainma
rke
tst
hata
rer
ipef
ori
nnova
tion
4. None
edt
oha
vehi
ghc
apa
cit
yandout
put
ora
reunder
ser
ved?
5. Abs
enc
eofs
trongbr
andsa
ndc
ust
ome
rloya
lty

 Di
ff
icul
ttoEnt
er  Que
sti
on3

1. Pa
tent
edorpr
opr
iet
yknow–howwe
lle
sta
bli
she
dbr
ands o Aret
hereposit
ionsinthei ndust
ryt
hata
voids
omeoft
he
2. Re
str
ict
eddi
st
ri
but
ionc
hanne
ls ne
gat
iveat
tr
ibut
e soft
heindustr
yasawhol
e?
3. Hi
ghc
api
talr
equi
reme
nts
Ani
ndus
trya
nal
ysi
sca
nhe
lpt
ofi
ndoutt
hef
oll
owi
ng:
4. Ne
edt
oac
hie
vee
conomi
esofs
cal
efora
cce
pta
bleu
nitc
ost
 s
izeoft
hei
ndus
trya
ndwhe
the
rornoti
tisgr
owi
ng
Thr
eatofs
ubs
ti
tut
es
 i
mpor
tan
ceoft
hei
ndus
tryt
othema
rke
t
Whe r
eclos
esubst
it
uteproductse xi
sti
nama r
ket,i
tincr
easesthepos
sibi
li
ty  ma
jorpl
aye
rswi
thi
nthei
ndus
trya
ndt
hel
eve
lofc
ompe
tit
ion
ofcust
omerss
witc
ht oal
ternat
ivesinres
ponsetopri
c ei
ncrea
ses.Th
isr
educes  f
ina
nci
alout
lookoft
hei
ndus
try
bot
hthepowerofsuppl
ier
sa ndtheatt
rac
tive
nessofthemarket
.
 hi
st
ori
calpe
rspe
cti
ve

Ba
rga
ini
ngPowe
rOfSuppl
ier
s I
mpor
tanc
econduc
tingi
ndus
trya
nal
ysi
s
 Ane val
uationofhow simpleitisf orsuppl
ierstofor
ceuppr ice
.  t
obec
ert
aint
hati
tha
sade
sir
abl
echa
rac
ter
ist
icf
orne
went
rant
s
Thisi sma debythe:numbe rofs uppli
ersofe achess
enti
alinput
;
uniquenessofthei
rproductorservice;r
e l
ati
ves i
zeandstr
engthof  us
uall
y,be
stindust
ri
estoe
nte
rar
ehi
gh-gr
owt
handpr
ofi
tabl
e
thesuppli
er ;a
ndcostofswit
chingf r
omones uppl
iert
otheother
. wit
hlowbar
ri
erstoent
ry

 Fact
orsthathaveanimpa
ctont
hea
bil
it
yofs
uppl
ier
sto  wors
tindust
rie
stoenterar
edecl
ini
ng,barel
yprof
ita
ble
,hi
ghl
y
exe
rtpre
s s
ureonbuye
rs compet
it
iveandre
gul
ate
d,wit
hhi
gherba
rri
erst
oentr
y

o Suppl
ierConc
ent
rat
ion  t
obepr
epa
redf
ort
hewa
yit
’sc
hangi
ng

o Whe ntheyareonl
yaf ews uppl
ier
s thatsupplya  t
ounde
rst
andbe
tte
rhowt
ocompe
te
cr
iti
calpr
oductt
oal
argenumberofbuye
rs,t
hesuppl
ier
hasanadvant
age
. SWOTAna
lys
is
o Swi
tchi
ngCos
ts  Itisa na na
lyti
calmethod whichi susedtodisc
overa ndsortout
signi
ficanti nt
ernal(Str
engtha nd We a
kness
es)a nd Ext ernal
 Swi t
chi
ng cos
tsa r
et he fi
xedc osts t hatbuyer
s (Opportunit
iesa ndThreat
s)f actorsface
de i
therinapa rt
icula
r
encount
er whens wit
chi
ng or cha nging fr
om one arena,suchasa norga
nisa
tionoraterri
tor
y,suc
ha saregion,nati
on
suppli
ertoa
nothe
r.Ifswi
tchi
ngcostsa r
ehigh,abuye
r orc i
ty.
willbele
ssl
ike
lytoswit
chsuppl
ier
s.
 Itprovi
desi nforma t
iont ha
tiss upport
iveinma tchi
ngt hefi
rms’
o At
tr
act
ive
nes
sofSubs
ti
tut
es resour
cesandc a
pa bi
lit
iestothec ompet
iti
vee nvi
ronmentinwhich
itoper
atesandi stheref
oreas igni
fica
ntcontr
ibuti
ontothestr
ate
gic
 Suppl
ierpowerise
nhancedifther
ea renoatt
rac
tive planni
ngproc e
s s
.
subs
ti
tut
esfort
hepr
oductors
ervic
esthesup
pli
erof
fers
.

o Thr
eatofFor
war
dInt
egr
ati
on

 Thepowe rofasuppl
ieri
senha
ncedift
her
eisac
redi
ble
possi
bil
it
yt ha
tt hesuppl
iermightent
erthebuye
r’s
indus
try

o Buy
erGr
oupConc
ent
rat
ion

 I
fther
ea r
eonl
yafewlar
gebuyer
s,a
ndthe
ybuyfroma
l
arge numberof s
uppl
ier
s,theyc a
n pre
ssur
et he
MODULE 4 PART 1 |Productand Servi
ce Uni
que
nes
sinQua
lit
y
De
scr
ipt
ion Thi
sisus
ual
lya
ccompa
nie
dbydi
ff
ere
ncei
npr
ice
.

Howdoyouc
hoos
eyourPr
oduc
t?

 Pr
oduc
tDe
scr
ipt
ion

Sa
msungNot
e9ori
PhoneXS Uni
que
nes
sinFunc
tiona
lit
y
“
Dowha
tca
n’tbedone
”

Gala
xyNoteha salwaysputpowerf
ulte
chnol
ogyinthehandsof
t
hosewhodema ndmore.Now,theal
lnewGa l
axyNot
e 9sur
pas
ses
eve
nt he
sehighe xpe
c t
ati
ons
,focus
ingonwha tmat
tersmostin
t
oday’sa
lwa
ys -
on,mobileworl
d. I
gnor
anc
eofBuye
rs
“
Wel
comet
otheBi
gSc
ree
ns” Per
ceive
dQual
it
y-cust
omers’per
cept
ionontheoveral
lqual
it
yofapr
oduc
t
ors
ervic
ewi
thres
pec
ttoit
sint
endedpurpos
e.Ex:Buyi
ngacomput
er
SuperRe tinaint
wos i
zes—i ncludi
ngt
helarges
tdis
pla
ye veronan
iPhone.Eve nfas
terFac
eI D.Thes mar
test
,mostpower
fulchipina
sma r
tphone .Andabr e
a kt
hroughdual
-camerasyst
em withDe pt
h Sa
lespr
omot
ion
Control.iPhoneXSi severyt
hingyouloveabouti
Phone.Takento
theextreme .

Wha
tisPr
oduc
tDe
scr
ipt
ion?
Aproductdes
cri
pti
on isthema r
ket
ingcopy t
hatexplai
nswha taproducti
s
a
ndwhyi t
’sworthpurchasi
ng.Thepurpos
eofapr oductdescr
ipt
ionisto Uni
que
nes
sinAva
ila
bil
it
y
s
upplycust
omerswithdetai
lsar
oundthefea
tur
esandbe nefi
tsoftheproduc
t
s
othey’
recompell
edtobuy

Howt
owr
it
eaPr
oduc
tDe
scr
ipt
ions
tat
eme
nt?
 Ent
icewi
thbe
nef
it
s
 Avoi
dye
ah,ye
ahphr
ase
 J
ust
if
yus
ings
upe
rla
tive
s TheN-
S-P-
P-USPMode
l

 St
andsf
orNe e
d,Sit
uat
ion,Pe
rson,Pr
oduc
tDe
scr
ipt
iona
ndUni
que
Se
lli
ngPropos
it
ion.

 Itexpla
inst
hene e
df orthepr oduct,thes
it
ua ti
onwhyt heproduct
hastobema de,t
hepe r
son/
swhowi l
lberequir
ingandusi
ngit,the
descri
pti
onoftheproductandt heuniquesell
ingsel
li
ngproposi
ti
on
toma keagoodsaleoftheproduc t
.
Whe
nwr
it
ingaPr
oduc
tDe
scr
ipt
ion.
..

 Makece
rta
inthatthe
rewil
lbeconnect
ionoft
hepr
odu
ctf
eat
ure
s
t
othewaytha
ttheycandowel
ltocus
tomers
.

 Haveabroadunder
sta
ndingofwhatt
hepr
oduc
tis
,toa
dve
rti
set
he
pot
ent
ialadva
nta
geoft hepr
oduc
t.

 Compre
hensi
vedefi
nit
ion oftheproduc
tc a
n he
lpc
ust
ome
rs
dec
idei
fthe
ywantorneedt
obuythepr
oduct
.

Uni
que
nes
s
I
tistheproc
ess
,ma ki
ngtheproduc
tdif
fer
entf
rom ot
her
stoma
kei
tmor
e
a
ttr
act
ivet
othei
nte
ndedta
rgetmarke
t.

TheBAFFMa
tri
x

 St
andsf
orBe
nef
it
,Adva
nta
ges
,Fe
atur
esa
ndFunc
tions
.
Type
sofPr
oduc
tUni
que
nes
s
 Anaddi
ti
ona
lmanne
rofpr
oduc
tde
scr
ipt
iona
sidef
romt
heN-
S-P-
 Si
mpl
e:Ba
sedonava
rie
tyofc
har
act
eri
st
ics P-
USPMode l
.

 Hori
zont
al:Bas
edonas
ingl
echa
rac
ter
ist
icbutc
ons
ume
rsa
renot  Itprovi
desthebenef
it
scust
ome r
swi l
lga
inus
ingtheproduc
t,t
he
cl
earonquali
ty
advanta
geswhe nthi
sproductisused,i
mpor
tantfe
atur
esofthe
product
sandthesi
gnif
ica
ntfunc
tions
.
 Ver
ti
cal:Bas
edonas
ingl
echa
rac
ter
ist
ica
ndc
ons
ume
rsa
rec
lea
r
oni
tsqual
it
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Ma
jorSour
cesofPr
oduc
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nes
s
 Uni
que
nes
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que
nes
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atur
es
 I
gnor
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lesPr
omot
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ila
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it
y
MODULE4PART2|Connect
ingSol
uti
onst
othe One
-da
yVa
lida
tionTi
ps
Pr
obl
em  Youarer
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blefordoi
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Te
chnol
ogyMa
tchi
ng o Two-
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edva
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Itisape rson-
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rengagementa ndgui
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fe
quali
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iendswi
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ase
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 One
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ike
lytoge
tar
espons
efromawa r
mc al
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ar
eint
roduc
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ica
lPr
oduc
t
 Se
lle
r:Pa
scua
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ervi
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ers
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 Two-
Side
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ntur
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cka
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o Ol
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li
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 Buye
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ell
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 Br
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ormor
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 Buyer
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ows
epos
ti
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ont
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ell
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or
fr
ee  Unle
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dybeenfil
ed,don
di
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osehowyourt e
chnol
ogywor ksbutonl
yther
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fit
.
 Se
lle
rspos
tpr
oduc
tinf
orma
tion Whenindoubt,a
skyourfa
cil
it
ator.

 Se
lle
rspa
yol
x.phf
ors
pec
ials
ervi
ces
.
CommonVa
lida
tionI
ssue
sAndHowToFi
xThe
m
o Adve
rti
seme
nt-
dri
venf
reemobi
lea
pps
 NoKnowHow,ornos
pec
ifi
cna
mei
nKnowHow
 App users uset
he a
pp s
ervi
ces but wa
tcht
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o Ifyoua r
einvolve
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chnol
ogy,l
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t
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your
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f(andyouraff
il
iat
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sthec
ont
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 Nodownl
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ost
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pti
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ees
o CheckouttheKnow How a ndIndivi
dualProfi
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df or
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ser
spos
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orma
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pp. cl
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 Adve
rti
ser
spaytheappde
vel
ope
rfeesba
sedon
t
henumberoft
imest
headi
svi
ewed.
 NoKnowWho,ornos
pec
ifi
cna
mei
nKnowWho
Pr
obl
emAwa
ren
ess o CheckouttheKnowWhoboarda
ndI
ndi
vidua
lPr
ofi
leboa
rd
 La
tent foryourc
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es'c
ont
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s.
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ome
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spr
obl
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o Ifyourcl
ass
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chmi
ghtbeyour
o Cus
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spr
obl
ema
ndunde
rst
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veapr
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blecus
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las
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e(vi
aFB group)to
 Ac
tive nominat
eaconta
ct.
o Cus t
ome
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tive
lys
ear
chi
ngf
oras
olut
ion
 Va
guei
nit
ialc
ust
ome
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nuec
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ome
r
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si
on
o Cust
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awha
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uti
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ooksl
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ome r
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seds
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yf oryourpr
oduct
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tte
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/sponsor
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na nc
ial
i
ncent
ivest
ouse
rs
 i
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oces
sofdet
ermi
ningwhe
the
ryourpr
oduc
tisofi
nte
res
tto
agi
vent
arge
tmarke
t.  Youal
sone
edt
oide
nti
fyapot
ent
ials
pons
ora
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Who
 Marke
tva l
idat
ioninvolve
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rie
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Whove nt
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acebe
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eexe
cuti
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sn'
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arge
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r
i
deaorconcept
.

 Na
me/Compa
ny/Rol
e o CheckouttheKnowWhoboarda
ndI
ndi
vidua
lPr
ofi
leboa
rd
foryourc
lass
mate
s’c
ont
act
s.
 Ve
rif
ythePr
obl
em
 Wha
t’st
heha
rde
stpa
rta
boutt
hepr
obl
em?  Ifyourc
lass
matewor
ke di
nac ompanywhic
hmi ghtbe
 Ca
nyout
ellusa
boutt
hel
astt
imei
tha
ppe
ned? yourpos
sibl
ecust
omer,as
kyourc l
ass
mate(vi
aonl i
ne
group)t
onominat
eac ont
act
.
 Wha
t,i
fanyt
hing,haveyoudonet
osol
vet heprobl
em?
o ProblemAwa r
enes
s( Lat
ent
,Act
ive
,Vision)  Wr
ongTRLort
echnol
ogyma
ynotbef
eas
ibl
e
 Wha
tar
eyouri
ssue
swi
tht
hes
olut
ionsyou’
vet
ri
ed?
 Wha
trol
ewoul
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hoos
ing/i
mpl
eme
nti
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hes
olut
ion? o YourKnow How cont
actneedstobeacce
ssi
ble(i
nst
eadof
j
usts
omebodyinapaper
/ar
ti
cleabr
oadt
hatyougoogl
ed)
o KnowWhot ype
s.
 Wha
tdoyout
hinkofourpr
opos
eds
olut
ion? o TheTRL levels houldbeba s
edontheaccompli
shment
 Wha
tdoyout
hinkoft
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fromt
hepr
evi
ousve
ntu
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arche
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 Wha
tres
ources/s
uppor
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nce
t
het
echdeve
lopment
?  Ta
l oapr
kt ofe
ssor ors
ear
cht
heI
ndi
vidua
lPr
ofi
le
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ass
matewhocanhe
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onne
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tyouwa
nt;don’
tove
rlookwha
tyour
eal
lyne
ed.
propos
altoongoi
ngorpa
stR&D
 As
kre
all
if
eque
sti
ons
.
 Mi
ssi
ngs
cie
nce
Te
amRol
es
o Pr
opos
eds
olut
ionmi
ghtnotbet
echni
cal
lyf
eas
ibl
e.
 Conne
ctor/Sa
les
man
o Fi
nd a re
sea
rch pa
perthatde
mons t
rat
esthe sc
ient
if
ic
pr
inc
ipl
eonwhic
hyourpr
opos
eds
olut
ionisba
sed. o Re
duc
ecus
tome
r/ma
rke
tri
sk
o Li
ais
ont
oKnowWho
 Mi
ssi
ngha
lfoft
hema
rke
t
o Cus
tome
rPr
obl
em
o Exa
mpl
epr
opos
edve
ntur
e:pa
rki
ngl
ota
vai
labi
li
ty o Da
yint
hel
if
eoft
hec
ust
ome
r
o Cus
tome
rROI
 Pr
opos
edKnowWho:dr
ive
r o Va
lida
tepr
oduc
tfe
atur
es/de
signwi
thc
ust
ome
rs

 Youals
onee
dtoi
dent
if
yapa
rki
ngl
otowne
r/ma
nage
r o Re
venue/s
ale
spr
oje
cti
on
asKnowWho  Ma
ven
o Exa
mpl
epr
opos
edve
ntur
e:Re
cyc
lingofwa
ste o Re
duc
eTe
chni
calr
isk
o Li
ais
ont
oKnowHow
 You ne
edtoident
if
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est
he
ne
ededwas
temat
eri
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nsi
gni
fi
cantquant
it
ies. o Pr
oduc
tSpe
cs
o De
vel
opme
ntt
ime
line
 Youalsone
edtoide
nti
fyacompa
nyt
hatwi
llpa
yfor o Ope
rat
ions/pr
oduc
tionr
equi
reme
ntsa
ndc
ost
ing
andus
eyourre
cyc
ledout
put
s
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nte
lle
ctua
lPr
ope
rtyMa
nage
ment
 Ionl
yha
veava
guepr
opos
al;Idon'
tknowwhe
ret
ost
art  Sc
rumMa
ste
r

o Pos
tita
nywa
ysoIc
angi
veyougui
deque
sti
ons o Re
duc
eimpl
eme
nta
tionr
isk:
 Re
moveobs
tac
lest
hata
ffe
ctt
het
eam
o I
denti
fyas pe
cif
icc
ust
ome
rfr
om yourKnow Whoora o Re
vie
wtr
aini
ngma
ter
ial
sons
crum
c
lass
ma t
e'
sKnowWho
o Fa
cil
it
atepr
epa
rat
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ckl
og,s
pri
ntpl
an
 De
scr
ibeada
yint
hel
if
eoft
hatc
ust
ome
r o Fa
cil
it
ateRe
tros
pec
tive
 I
magi
nes
olvi
ngyourc
ust
ome
r'
spr
obl
emma
nua
lly o Tr
acka
nddoc
ume
ntpr
ogr
es
 Howwoul
dyoua
utoma
teyourma
nua
lsol
uti
on? o I
nte
rna
lcommuni
cat
ionsa
nds
che
dul
ing
o Wha
ttool
s/
tec
hnol
ogywi
llbeus
efuli
nthema
nua
lsol
uti
on?
 De
signe
r
o Askas t
ude
ntwhoi spa
rtofanR&D l
ab(orwhoha sa
n o Opt
iona
l:Forc
ons
ume
rpr
oduc
ts
ongoi
ngt
hesi
s)t
ole
tyousit
-i
nont
hei
rgr
oupmeet
ing. o Fora
est
het
icsa
ndus
ere
xpe
rie
nce
o Vi
sua
lint
erf
acede
signori
ndus
tri
alde
sig
n
 Iha
veap
ropos
albutI
'mwor
ri
edIc
an'
tdoi
tsone
-da
yva
lida
tion
o Ones
tepa
tat
ime
,le
t'
side
nti
fyt
heoppor
tuni
tyf
ir
st Re
crui
ti
ngQua
lif
ica
tions
o I
fyou'
rea
fra
idofr
eje
cti
on,  Conne
ctor/Sal
esma
n:Addres
skeyma
rke
tis
sue
 Dot
her
eje
cti
ont
her
apye
xer
cis
e o Compl et
eone-
dayval
ida
tion
o Re
vie
wtheKnowWhot
ips  Ma
ven/Hacker
:Addr
esskeyte
chni
calr
isks
o Ha sr
eleva
ntt
rai
ningorworke
xper
iencei
nte
chnol
ogy
o Knowl
edge
abl
eins
our
cing,c
ost
ingofr
ele
vantt
echnol
ogy
 Sc
rummast
er
MODULE5PART1|Sel
ect
ingt
heRi
ghtTe
am: o De monst
rat
edpa
stl
eade
rshi
prol
es
Te
amFor
mat
ion  De
signe
r/Ar
tis
t:Addre
ssforuserexpe
rie
nce
o Compl e
tepastde
signproj
ects
Thesucc
essofanykindofs
oci
ale
pide
micishea
vil
ydepe
ndentonthe
i
nvol
vement of peopl
e wi
th a pa r
ti
cul
ar s
et of soc
ial gi
fts
.
-Mal
colmGladwe
ll
MODULE5PART2|Prepari
ngf
orPr
oduc
tand
Se
rvi
ceDe
sign

Re
membe
ringCus
tome
rPe
rsona
?

WhySomeTe
amsa
reSma
rte
rtha
not
her
s?

 DO’
s
o Me
mbe
rsc
ont
ri
but
eequa
llyt
odi
scus
sion.
o Communi
cat
eal
ot

o Consi
derandkeept
rac
kofwha
tther
estoft
het
eamf
eel
,
knowandbel
ieve
.
De
sign,Fe
atur
eandUs
erSt
ori
es
o Ha
vebot
hme
nandwome
n.
Applewouldlovetobe l
ieveit’sa l
l“Eureka
.”ButAppleproduce
s10pixel
-
 DON’
Ts perf
ectpr
otot
ypesforeachf e
ature.Theycompleteanda
rewinnoweddownto
thr
ee,t
henone,re
sulti
nginahi ghlyevolve
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.Bec
auseAppleknowst
he
o Oneort
wope
opl
edomi
nat
e. moreyoucompleteins
ide,thelessyou’l
lhavetocompet
eouts
ide.
o Wor
kmos
tl
yindi
vidua
lly.
o I
gnor
eemot
ionsofot
herme
mbe
rs. Us
erSt
ory
Rule
sf orhi
ring yours
tar
tup’
sne
xtgr
eate
mpl
oye
e(a
nd  ca
ptur
esade s
cri
pti
onofapr
oduc
tors
erv
icef
rom a
nend-
use
r
avoi
dingt
heduds) per
spe
cti
ve.

 I
tde
scr
ibe
sthewho(
typeofus
er)
,wha
tthe
ywa
nta
ndwhy.
 Saying”NO”t
other
ightpe
rson>s
ayi
ng“
YES”t
othewr
ong
pe
r s
on.  I
the
lpst
ocr
eat
eas
impl
if
iedde
scr
ipt
ionofar
equi
reme
nt.
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ualUs
erSt
orySe
tOut

 ASA<t
ypeofus
er(
WHO)
>

o Seve
ralst
ori
esma
ybene
ede
dtoc
ompl
et
elyd
esc
ribet
he
pr
oduct
.

 ICAN<s
omegoa
l(WHAT)
>

o Thesequenc
eofus
ers
tor
iesma
ybei
mpor
tanta
ndne
edst
o Va
lueCha
inPyr
ami
d
bespe
cifi
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 Whe
reont
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luepyr
ami
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urr
entpr
oduc
t/ve
ntur
e?
 SOTHAT<s
omer
eas
on(
WHY)
>
 Whatwoul
dyourve
ntur
elookl
if
eifyoumove
dupt
hene
xts
tepi
n
o Accompanyi
ngi
ll
ust
rat
ions
,phot ndd
osa i
agr
amsar
eof
ten t
hepyra
mid?
he
lpful
.

Cus
tome
rRe
tur
nonI
nve
stme
nt(
ROI
)

 Ret
urnoninve
stme
nt(
ROI)isame
tri
ctha
tcompa
resh
owmuc
ha
t
eame a
rnst
ohowmuchitc
osts
.

 Howwi
llyourpr
oduc
tinc
rea
seyourc
ust
ome
r'
sre
venue
s?

o Fe
rti
li
zer
sinc
rea
set
heyi
eldofaf
arm

 Quant
it
ati
ve:I
fyiel
discurr
entl
yP100K/hect
are
,a10% Che
ckl
is
tForLOFIMVPt
ove
rif
yVa
luePr
opos
it
ion
yi
eldi
ncrea
seres
ult
sinP10K/hec
tar
erevenuei
ncre
ase
 Phys
ica
lPr
oduc
t
o Onl
inec
las
sif
ieda
dsbr
ingc
ust
ome
rst
oas
ell
er
o Us
ers
tor
y
 Quant
it
ati
ve:Ifa dsbri
ng 2000 ne
wc us
tomer
spe r o Spe
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monthwithaver
agepurcha
seofP800/c
ustome
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o Me
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orve
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s
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evenuei
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cst
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t
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llyourpr
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cre
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ust
ome
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scos
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cs

o I
nst
rumentat
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orpre
venti
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ncer
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elos
sesdue o Opt
iona
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oduc
tmoc
kup
t
ounschedul
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pmentdownt
ime o Cus
tome
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o Ke
ycompone
ntsa
nds
our
cin
 Quanti
tat
ive:Ifeachuns chedul
eddownti
mec os
tsthe
companyP80K a ndthe r
ea r
e7uns c
hedul
eddownti
me o Tot
alCos
tofowne
rshi
p
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raget hatcanbee li
minat
edwiththe
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re/Se
rvi
ce
sys
tem,thentheannualcostsavi
ngsi
sP560K.
o Us
ers
tor
y(c
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lta
ndva
lida
tedbyde
moda
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o Analyt
icsfort
racki
ngandimpr
ovi
ngHRper
for
mancere
duce
los
sesduet ost
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nsesf
ortr
aini
ng
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aff o UserI
nte
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ce(sc
ree
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s)a
nd/orpr
oce
ssf
low of
pr
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twa
re/se
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ces
 Qua nti
tat
ive:Ifeachs t
afftur
novercos t
sthecompany o Cus
tome
rROI
P100K i n hiri
ng a nd t
rai
ning expensesaswe l
la s
re
duc edpr oduct
ivi
ty,andt hesystemc a
nr e
ducethe o Ke
yre
sour
cesa
nds
our
cing
t
ur noverfrom 12to4pe ryear
,thent hecus
tomercan o Tot
alc
ostofowne
rshi
p
saveP800Kpe ryea
r.
De
signPr
oce
ssGoa
ls
Thes
teps
:  Ma
ximi
zei
nput
sfr
omt
het
eama
ndf
romc
ust
ome
rs.
 Re
vie
wyourUs
erSt
ory.  Pr
ior
it
izet
heus
ers
tor
iest
hatwi
llbei
ncl
ude
dint
hene
xt
 Pr
oduc
tinc
rea
sec
ust
ome
r’sr
eve
nue
?  MVPFors of t
warevent
ure
s,nextMVPs
houl
dber
ele
ase
dand
 Pr
oduc
tde
cre
asec
ust
ome
r’sc
ost
? cus
tome
r-va
lidat
edbef
oredemoday.
 Al
ignVa
luePr
opos
it
ionwi
thCus
tome
rROI
.
 Forot he
rve nt
ure
s,nextMVP shoul
d beimpleme
nta
bleina
fundi
ngproposa
l:6monthst
ooneye
arti
mel
ineand<P5M budge
t
fornextMVP.

 Expl
orea
sma
nyopt
ionsa
squi
ckl
yaspos
sibl
e.

 Repe
atthepr
oce
ssa sat e
amifmulti
pleopt
ionsa
rea
vai
labl
e
i
mpleme
nti
ngades
ignfe
atur
eorus
ers
tor
y.

 Agr
eeone
val
uat
ionme
tri
csbe
for
edi
scus
singopt
ions
.

 I
fnouna
nimousde
cis
ionf
romt
eam,c
ust
ome
rde
cide
s.
 -
Dir
ect
orGe
ner
alJ
ose
phi
neR.Sa
nti
ago

Wha
tisI
nte
lle
ctua
lPr
ope
rty?

 Ta
ngi
bleAs
set

o fi
tthetra
dit
iona
ldefi
nit
ionofpr
ope
rtywhi
chc
ons
ist
sofl
and,
bui
ldings,a
ndpers
onalproper
ty
De
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oryboa
rd
o i
tca
nbedi
sce
rne
dbyt
hes
ens
es
 Unde
rst
andt
hepr
obl
em
 Ske
tchc
ompl
eteus
ers
tor
y  I
nta
ngi
bleAs
set
 Sc
opeMVP o t
hos
ewhi
chyouc
annott
ouc
hnorf
eel
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gani
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map o i
not
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tdoe
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ica
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m
 Cr
azye
ight
 I
nte
lle
ctua
lPr
ope
rtyRi
ght
s
 Cr
it
ique
 Or
gani
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dea
sint
ros
tor
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rd o asetofle
galri
ghtst
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sult
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ecti
onofoutput
f
romi nt
ell
ect
ualact
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tyi
ntheindus
tri
al
,l i
ter
ary,s
cie
nti
fi
c,
Unde
rst
and anda r
ti
st
icfiel
ds

 Re
vie
woppor
tuni
ty/ma
rke
t

 Us
ers
tor
ybe
for
eanda
fte
ryourpr
oduc
t

 Showl
ight
ningde
mos(
des
ignpe
gs)

 Compe
tit
ors’pr
oducta
ndnonc
ompeti
ti
veproduc
tst
hats
olve
asi
mil
arkindofpr
oble
minadif
fer
entmar
ket.

 Showe
xis
ti
ngus
err
ese
arc
h
Wha
tisI
nte
lle
ctua
lPr
ope
rty?
 Res
ult
sf r
om one-
day va
lida
tion a
nd ot
herc
ust
ome
ror
l
it
era
tur
eint
ervi
ews
. I
nte
lle
ctua
lPr
ope
rtya
reCr
eat
ionsoft
heMi
nd

 Pa
tent
 De
cidee
val
uat
ionme
tri
c(s
)
o I nve
nti
ons
Eva
lua
tionMe
tri
cs(
Rodde
n) o Ut
il
it
yMode
ls
o I
ndus
tri
alDe
signs
 Ha
ppi
nes
s
 Tr
ade
marks
 Enga
geme
nt
o Tr a
demar
ks/Se
rvi
ceMa
rks
 Adopt
ion
o Col
lec
tiveMa
rks
 Re
tent
ion
o Ge
ogr
aphi
calI
ndi
cat
ions
 Ta
sks
uce
ss
 Copyr
ight
Huma
nCe
nte
redDe
signPr
inc
ipl
es o Li t
era
ryWor
ks
o Ar
ti
st
icWor
ks
 Vi
si
bil
it
y
o Tr
adeSe
cre
ts
o Ca
nse
ethes
tat
eofde
vic
eandpos
sibl
eac
tions
.
HowI
Paf
fec
tsourl
ive
s
 Fe
edba
ck
 Consumer-Youonlybuyt hebr
andst
hatyout
rus
tandl
ove
.
o Ta
cti
le,a
udi
o,vi
sua
l Brands=st
anda
rdofqua
lit
y
o Ne
edst
obei
mme
dia
tea
nds
ync
hroni
zedwi
thus
era
cti
on.
 Busi
nessOwner-tra
demar
kshe
lp br
and r
eca
llwhi
ch ma
kes
 Af
for
danc
e adve
rti
si
ngmor
eef
fec
tive

o Perc
eive
dandac
tua
lpr
ope
rti
esofa
nobj
ectt
hatgi
vesc
lue
sto  Creat
ive-copyr
ightpr
ote
ctsourwor
ksf
rom be
ingc
opi
edwi
thout
it
sopera
ti
ons yourpermi
ssi
on

 Ma
ppi
ng  I
nventor-youri nvent
ionwi l
lbepr ote
cte
da ga
ins
tinfr
ingersor
t
hosewhowi llviola
tea ndencroachuponyourexc
lusi
ver i
ghtto
o Re
lat
ions
hipt
ocont
rol
sandt
hei
ref
fec
t make,use
,li
censeors e
llyourpate
ntedit
em

 Cons
tra
int Pur
pos
eofI
Ppr
ote
cti
on

o Reduc
ee rr
orbyr
est
ri
cti
ngt
heki
ndofi
nte
rac
tionst
hatc
an  Pr
ote
ct
t
akeplac
e
o gi
vest
her
egi
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rantowne
rther
ightt
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nyone
 Cons
ist
enc
y
 St
imul
ate
o Designi
ng inter
facest o have si
milarope
rat
ionsand use
si
milarel
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vings i
mila
rtas
kEnablespeopl
eto o Asyst
emofre
wa rdbygrant
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st
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ight
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sa n
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imit
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me
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asks.
 Tr
ans
fer

o a
fte
rthee xpi
rat
ionoftheter
m ofprotec
tion,t
hewor
k/
MODULE 6 PART 1 |Basi
cs ofI
nte
lle
ctua
l i
nvent
ionnowbecomespar
toft
hepubl
icdoma i
n

Pr
ope
rty ThePhi
li
ppi
neI
PSys
tem
IPforStar
tups
:aBa
sicOr
ient
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onSe
mina
ronI
nte
lle
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l  Re
publ
icAc
t(R.
A.)8293a
same
nde
dbyR.
A.10372
Prope
rty
HolyAnge lUni
versi
ty
o An ActPr e
s c
ribing t
he Int
ell
ect
ualProper
ty Code and
Est
abl
is
hingtheIntel
lec
tua
lPropert
yOff
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ovi
dingforit
s
Phi
lippi
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upWe ek Power
sandFunc ti
ons
18Nove mbe r2019
Att
y.Ma r
yGr ace“It
chi
e”Cruz
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p
Dir
ec t
or,Innovat
ionBurea
u
"I
nte
lle
ctua
lPr
opert
yiseve
rywher
eata
llt
ime
s–f
roms
unr
iset
osuns
et,a
swe
dr
eam,andunt
ilwewakeupagai
n"
Ma
nda
te&Vi
si
on Func
tionsofTM /SM

 Ma
nda
te:  Sour
ce-
indi
cat
ingf
unc
tion

Toprotecta
nds e
curetheexclusi
verightofsc
ient
ists
,invent
ors
, o Tor e
fertoapar
ti
cularent
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choff
e r
sthepr
oduc
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ar
ti
sts
,a nd othergifte
dc it
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ualproper
ty ser
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e.givesa
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ervic
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 Di
st
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si
on:
o Todis
ti
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sorser
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tyconsc
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ippi
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rant
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Or
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rt
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it
yoft
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tsors
ervi
cesf
or
whi
chthetr
ade
ma r
kisused.

Tr
ade
mar
ksa
rea
lsor
efe
rre
dtoa
s“s
il
ents
ale
sme
n”.Why?

 Adve
rti
seme
ntf
unc
tion

o Topromot
ethemarket
ingand sa
leofpr
oduc
tsa
ndt
he
mar
ket
inga
ndre
nde
ringofs
ervi
ces
.

Di
sse
cti
ngt
heFunc
tionofaTM

 Publ
ic
o t
obea
ssur
edt
hatt
heya
repr
ocur
inga
thege
nui
nea
rti
cle
o t
opr
eve
ntf
rauda
ndi
mpos
it
ion

 TM owne
r

o t
opointoutdi
st
inc
tlyt
heor
igi
norowne
rshi
poft
hegoodst
o
TheDi
ff
ere
ntKi
ndsofI
nte
lle
ctua
lPr
ope
rty whi
chitisaf
fi
xed;

Le
t’sTa
lkI
P o t
osecuretohim,whoha sbeeni
nst
rument
alinbr
ingi
ngint
o
t
hema rke
tas uper
iora
rti
cleofmer
chandi
se,t
hefrui
tofhi
s
 Pa
tent i
ndus
tryandskil
l;

o The
y do notre
fert
othe s
ame t
hings
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yar
e not o toprote
ctagains
tsubs
ti
tut
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aleofa
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eri
ora
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i
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rcha
nge
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spr
oduct.
o I
nve
nti
ons
Di
st
inc
tive
nes
s
o Ut
il
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ls(
UM)
o I
ndus
tri
alDe
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li
tyofaTM /SM todist
inguis
htheproduct/s
ervi
cestowhic
hi tis
o APPLY-
>GRANT af
fi
xedf rom c
ompe
tinggoodsorservi
cesofothermanufa
ctur
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oviders
 Tr
ade
mar
k
Qua
lit
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ade
mar
k
o The
sewor
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ant
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ame
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ghPot
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rk
 Appe
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tr
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gur
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rk
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gis
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rk
 Di
st
inc
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ampe
dorMa
rke
dCont
ai
nerofGoods
o APPLY-
>REGI
STER
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ade
mar
kTi
ps
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ight
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rti
seTr
ade
mar
ksr
athe
rtha
nthepr
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enott
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ight
s
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gis
tera
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egi
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rat
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ter
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ks
 Cons
ide
rre
gis
tra
tioni
nal
lcount
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esofpot
ent
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lint
ere
st
o Ar
ti
st
icWor
ks
[
Madr
idPr
otoc
ol]
o DEPOSI
T->RECORD
 Ke
epawa
tchonuna
uthor
ize
dus
eofi
dent
ica
lma
rk

 Uset
hesymbol®ont hes
houl
derofama
rki
fre
gis
ter
eda
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n
t
hecas
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st
ere
dtra
demar
ks

 Col
lec
tiveMa
rk
anyvisi
blesignc a
pa bl
eofdi st
ingui
shi
ngtheori
gin,common
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act
eri
st
ic,qual
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yofgoodsors er
vice
sofdi
ff
ere
nte nt
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ise
s
undert
hecontr
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st
ere
downe r

 Tr
ade
mar
ks

Anys i
gn,oranycombi
nat
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gns,ca
pableofdis
ti
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shing
thegoodsors e
rvi
cesofoneundert
aki
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om thos
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TRADEMARKSPROTECTI
ON
 10ye
arsf
romre
gis
tra
tion J
uanaMa
keaMa
rk
o r ene
wabl
eever
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rs
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nce
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ge
 Mus
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cla
rat
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ualUse(
DAU)
 Thisnati
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sini
ti
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ppl
ica
tionsf
ort
he
o wi thi
n3year
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li
ngdate
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rst1000el
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o wi
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her
egi
st
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nd,
o wi
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ene
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.  Inpart
ner
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rtmentofTradeandIndus
try(
DTI)
,
thepr
ogra
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l20Februa
ry2020orunt
ilt
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Re
gis
tra
bil
it
yofMa
rks(
Sec
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PCode
) 2000t
hTrade
ma r
kApplic
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onhasbeenfi
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d.

Ma
rksNOTENTI
TLEDt
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