• April 4th, 2016

Marketing Technology and Innovation

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Class Discussion for Week 4 re Rob, James, and Sophie’s Marketing Scenario

Rob, James, and Sophie are reviewing the notes they took at the Customer Validation Interview with the CEO. In summary, the advice given was to review what had been discussed with the customer in the discovery interview, and in particular test more deeply for customer need, business value provided, and ‘keywords’ used by the customer.

Again they noticed that the Interview in this case did not follow a strict sequence and that they had to supplement and improvise ‘on the fly’ to cover off the points on the list they had prepared.

The customer’s CEO talked openly about issues such as productive time wastage due to their current systems and processes, and the impact of the cost of failure of the current systems. He even mentioned the risk of losing business and customers if interruptions due to system failures were significant in frequency or time. He seemed unsure however of the frequency and real dollar impact of these issues.

He mentioned that the business and staff, as well as products and customers etc. were expected to keep growing year on year.

Reviewing the nuances of what the customer’s CEO had told them, they felt positive about their opportunity to come up with an offering that would be a win/win situation for the customer and themselves.

Sophie was more certain than ever that they had discovered a viable customer segment, being the electronics industry that was continuing to innovate and grow.

James had been doodling in his notebook, and playing with potential monthly subscription figures. He thought they needed to come up with a ‘no brainer’ offering, but the key to success for them was going to be how to explain it to the customer in such a way as to remove the usual decision making obstacles and time delays.

Rob is wondering about how to come up with a price that could be explained easily and be seen to represent real business value by the customer.

Their mentor came along to the session in the usual coffee place a bit later and said it looked to be getting very interesting, but they needed to ask your opinion on ways to price their product based on what they had learnt in the interview.

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