New Product Marketing: Building Ideas that stick ... and people never forget

Bryan Cassady Guest Professor, [email protected]

KU Leuven Master Class: New Product Marketing1/11 Course Introduction

Building Ideas that stick

and people never forget…


About this courseIt is a sad fact that most new businesses, products and service fail. Some estimate the failure rate is as high as 90%. This course is about why products fail and what you can do to increase your odds of success.

This lecture is a part of series of 12 lectures. In my classes I use a lot of videos. If you’d like to see the presentations with videos, go to: http://www.fast-bridge.net/resources/new-product-marketing/

I hope in the pages that follow you will find new ideas and inspiration… If you’d like to download the whole class go to: http://www.slideshare.net/bryancassady2/2009-course-new-product-management-by-bryan-cassady

If you have ideas on ways to improve this course or would like help with your new products, I’d love to here from you…

Bryan Cassady [email protected] +32-475-860-757

http://www.fast-bridge.net/resources/new-product-marketing/

http://www.slideshare.net/bryancassady2/2009-course-new-product-management-by-bryan-cassady


Dave’s story

What do you remember from this ad ?

A car, waves…

But I’l bet not the brand or benefits


"A medium-sized 'butter' popcorn at a typical neighborhood movie theater

contains more artery-clogging fat than a bacon-and-eggs breakfast, a Big Mac and fries for lunch, and a steak dinner with all the trimmings — combined!"


Talk to someone tonight…

The kidney heist

The story

The details (probably not all)

Movie popcorn

A lot of fat

The car

The visuals

The brand

The benefit

The non-profit company

?


A lie can get halfway around the world before the truth can even get its boots on.

Mark Twain


To develop sticky ideas, make your

message:

1

2

3

4

5

6

S impleU nexpectedC oncreteC redibleE motionalS tory Based


1

2

3

4

5

6

10 minutes


It is always easier to explain after the fact


16 reasons products fail (Nielsen) Lecture Number

1A less-than-optimal "configuration" of product or service attributes and benefits is selected.

1 What is a new product

2 Marketers fall in love with a product no one else loves

3 Marketers assess the marketing climate inadequately. 2 Market research

4A failure to ask the right questions and a belief that everything is a big idea

5 A questionable pricing strategy is implemented. 3 Pricing

6 Cannibalization underestimated 4 Forecasting and business planning

7Over-optimism about the marketing plan leads to a forecast that cannot be sustained in the real world.

8 Too focused on the internal game not enough on the market 5 What really happens at work/ Selling a business case

9 Too focused on being first 6 Timing: Is there a first mover advantage

10 The Lemming effect

11 Lack of a strong sustainable position in the market 7 The basics of market interaction

12The marketing plan for the new product or service is not well implemented in the real world.

8 Execution

13 The plan is too complicated

14 No Support to get things done 9 Selling your ideas

15 A weak positioning strategy is used.

16The advertising campaign generates an insufficient level of new product/new service awareness.

10 Popper : Asking the 1 big question


A group presentation 20-30 min

Lecture 80-90 min

Then a discussion 60 min


Date Lecture Who Assignment Student PresentationPresent

GroupReading

11/02/2010 intro B Brand You None Summary: Made to Stick

18/02/2010 What is a new product B Concept proposals NoneNew product evaluation methods

Concept Training

25/02/2010 Market research B 3 big research Qs/ How to answer Concept proposals 1-Jan The wisdom of crowds

04/03/2010 Pricing for Value B Pricing Reco in 1 category3 big research Qs/ How to

answer2-Jan TBD

11/03/2010Forecasting and business

planningB A systems view of the business Pricing Reco in 1 category 3-Jan Chapter 5 Senge + Fifth discipline

18/03/2010 Building Buzz and interest BA buzz activity: contest invite or link

request

A systems view of the

business4-Jan The cluetrain manifesto

25/03/2010What really happens at work/

Selling a business caseE Choosing the Best ad

A buzz activity: contest invite

or link request5-Jan PG 99

01/04/2010Timing: Is there a first mover

advantageE First mover or fast second your reco Choosing the Best ad 6-Jan

Managing What consumers learn

through experience

the second mover advantage

08/04/2010 No Class(Spring Break) X no assignment X X

15/04/2010 No Class(Spring Break) X no assignment X X

22/04/2010The basics of market

interaction (strategy)E Choice of a value discipline

First mover or fast second

your reco7-Jan The discipline of market leaders

29/04/2010 S-D Logic (execution) EA service Mantra proposal

Choice of a value discipline 8-Jan TBD

06/05/2010 Selling your ideas E A sales letterA service Mantra proposal

9-Jan Cialdini/ The new positioning

13/05/2010 New Class or no class ? E Winner or loser A sales letter 10-Jan TBD

20/05/2010 Class wrap up j no assignment Winner / Loser 11-Jan Nothing

Practice Exam Due

If all goes as planned , an Oxford style debate in the last class


“Success is a question of how to marshal your resources. Be really great in four or five areas. Make some hard choices.

“The big challenge is to worry less about your weaknesses and build more on your strengths. Every success in your life will be based on your strengths.”


Bryan CassadyEmail: [email protected] did you take this course? :To teach it

About you:A long time ago, an American boy came to Belgium, where hemet a pretty woman in a Laundromat. They got marrieda year later and decided to stay in Europe. Since then, Bryanhas set up 9 successful business in 7 different countries. Several of which should have never succeeded.

Skills: A born marketer and salesman with a proven track of record business start-ups and

business development A Talent for thinking outside the box and finding simple solutions to complex business

issues.

Driven by the challenge of new business initiatives…Proud to be able to make impossible things to happen.

Now in academia, because he enjoys learning and teaching.

mailto:[email protected]

New Product Marketing: Building Ideas that stick ... and people never forget

Business

Transcript of New Product Marketing: Building Ideas that stick ... and people never forget