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HS285: Marketing Management Class Two May 30, 2013

HS285: Marketing Management Class Two May 30, 2013. Beth Goldstein. Today’s Class. Lucky By Design SMART Goals Henry Heinz Case Concept pitches and selection of teams . Lucky By Design: Chapters 1 – 11 . Joanna Alberti – Philosophies. Lucky By Design: Chapters 1 – 11 .

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HS285: Marketing Management Class Two May 30, 2013

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  1. HS285: Marketing Management Class Two May 30, 2013 Beth Goldstein

  2. Today’s Class • Lucky By Design • SMART Goals • Henry Heinz Case • Concept pitches and selection of teams

  3. Lucky By Design: Chapters 1 – 11 • Joanna Alberti – Philosophies

  4. Lucky By Design: Chapters 1 – 11 • Rob Olney, ETM Manufacturing

  5. Lucky By Design: Chapters 1 – 11 • Dr. Joseph Jabre, TeleEMG

  6. Clarity Increases Your Chance For Success! Success Rate (PDMA Research)

  7. S.M.A.R.T. Goals • Doubling in size every 2-3 years is NOT a SMARTGoal • Specific • Measurable • Actionable • Realistic • Time-Based

  8. S.M.A.R.T. Goal x • Increase revenue 50% next year

  9. S.M.A.R.T. Increase profit 20% from a specific customer group by the end of June 2013 by launching a new service thatmarket research proved my customers need and will pay for.

  10. Worksheet 2.1 • SMART Goal • What’s Your Single Most Important Goal?

  11. Heinz Pickle Pin from World Expo Can you sell it? To raise awareness for his stand at the Chicago World Fair, Heinz promised a souvenir to visitors: the "pickle pin". It's been called "one of the most famous giveaways in merchandising history.”

  12. Heinz Case – Setting the Stage • Let’s review Supply Side Changes in the late 1800’s • Productivity • Manufacturing/Technology • Communication & Transportation improvements • Mass production of food/distribution • Banking & credit availability

  13. Heinz Case – Setting the Stage • Demand Side Changes • Rising incomes • Rapid urbanization • Population growth • Change in labor force • New consumption possibilities

  14. Heinz Case • What are the risks and obstacles involved in trying to create a market for processed food? He started off with pickled horseradish, sold in clear glass bottles to market its high quality & purity to customers.

  15. Heinz Case • What factors were critical to achieve for Henry Heinz to succeed in creating a market for his products?

  16. Heinz Case • Where did Heinz get the information he needed to develop his business strategy?

  17. Heinz Case • How would you assess Heinz’s strengths as an entrepreneur/businessman

  18. Strengths • Commercial imagination • Tons of energy • Sales talents • Strategic insights • Empathy for consumer concerns • Commitment to build an enduring empire

  19. Weaknesses • Lacked financial acumen • Inability to identify managerial talent • Control freak • Deal-making skills were inadequate

  20. Heinz Case • Why did he fail in 1875? • How did his bankruptcy influence his future business dealings?

  21. Heinz Case • What role did branding play in Heinz’s strategy? • What role will it play with your companies?

  22. Heinz Case • What other modern brands would you compare to Heinz?

  23. You’re the Consultant • What advice would you have given Heinz to strengthen his ability to grow his company?

  24. Dip & Squeeze

  25. Heinz • What did they need to understand about their customers needs to change the design? • What do you think of their research technique? • How might this technique apply to your business?

  26. Old Ketchup Packet…

  27. 1.1 Million Likes

  28. Every Pitch Is An Opportunity

  29. Get It RIGHT! • How do we decide if we like the person delivering a message? • Body language • Tone of voice • Actual words 55% 38% 7% The mystery of text and email communication “OOPs” revealed! Source: John Daly, U of Texas

  30. Who’s Paying Attention Adults-Typical Attention Span • 15 to 30 seconds What did I just say???

  31. Ready for Pitches? • The Association of Cleantech Incubators of New England (ACTION) is New England’s leading network of cleantech incubators sharing the common goals of • Accelerating the growth and success of early-stage companies, • Strengthening the regional cleantech cluster, • Creating more green jobs in New England.  • Challenge: Create a membership program designed to allow members easy access to meeting space, programs and service offerings called ACTIONPass

  32. YOUR Business Concept Pitches • We offer_____________________________(unique competitive advantage) • to ___________________________________(target customer) • To meet or satisfy the __________________ ______________________________(customers’ need that your organization fulfills) • Wedo this by providing ______________________________(product/service description)

  33. Next Class Assignment: June 4 • Book: Lucky By Design: Chapters 12 – 14 • Review Social Media Critique Assignment • Case: American Well: The Doctor Will E-See You Now • Worksheets Due (ONE per team): • 4.1: Identifying the Right Opportunities • 12.1: Testing Your Customer Knowledge

  34. Special Guest Speaker • Michael Hunter, Undersecretary for Business Development, Commonwealth of Massachusetts • Heller alum • Be prepared with questions!

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