lecture wk31 2 NOW market opportunities市场机遇剖析课件

MarketopportunitiesBUSI22700

DigitalEntrepreneurshipMarketopportunitiesBUSI22700AgendaFirststepinthestrategymodelHowandwheretoseekopportunities-relationshiptovalueStepsinidentifyingtheopportunitiesTheimportanceofidentifyingcustomerneedsMappingcompetitorsandresourcesfordeliveryFramingtheMarketOpportunityBusinessModelCustomerInterfaceMarket

Communication

andBrandingImplementationMetrics(Rayport&Jaworski2003)StrategyformulationAgendaFirststepinthestrateDigitalEntrepreneurshipSlide3ANewandusedcarpurchasingFinancingcomparisonandpurchaseReal-timeinsurancequotesWholesaleanchorsServicetrackingRequestDealerQuoteFinanceMakeSaleSourceWarranty,InsuranceQuotesTrackVehicleServiceCollectResearchPublishClassifiedAdsSourcingProcessingSalesEtc.RawMaterialManufactureSourcingDesignManufactureEtc.ComponentManufactureDesignMarketingManufactureEtcAssemblyMarketingInventorySalesEtc.DistributionPartsInventoryTrainingServicingEtc.MaintenancePurchasingInventorySalesEtc.UsedResaleCarManufactureandSalesValueSystemDigitalEntrepreneurshipSlideDigitalEntrepreneurshipSlide4ValueTypesLookatValueSystemtoDiscoverNewBusinessOpportunitiesLiberateTrappedValueIntroduceNew-to-the-WorldValueCreateMoreEfficientMarketsEnableEaseofAccessCustomizeOfferingsExtendReachandAccessCreateMoreEfficientSystemsDisruptCurrentPricingPowerBuildCommunityEnableCollaborationIntroduceNewFunctionality/ExpertiseeBayCovisintBizBGSFedExBizRCPMyYahooAmazonpersonalizedpageKMyFEProjectPoint“C-Mode”vendingmachinesNetworked-economycompaniescancreatevalueintwoways:liberatetrappedvalueorintroducenew-to-the-worldvalueDigitalEntrepreneurshipSlideDigitalEntrepreneurshipSlide5FourkeyareasCustomerAnalysecustomerenvironmentforunmetorunderservedcustomerneedsTechnologyAnalysetechnologyenvironmentforreadinessoftheparticulartechnologytodeploythefirm’sofferingCompetitionAnalysethecompanyenvironmenttoascertainstateofthecompany’sresourcesCompanyAnalysethecompetitionenvironmenttorevealthestructureoftheindustry,keycompetitors,andthefirm’srelativeadvantageMarketopportunityanalysisrevolvearoundfourelements:customer,company,technologyandcompetitionDigitalEntrepreneurshipSlideDigitalEntrepreneurshipSlide6The“SweetSpot”forMarketOpportunityCOMPETITIONCOMPANYTECHNOLOGYCUSTOMER“SweetSpot”DigitalEntrepreneurshipSlideDigitalEntrepreneurshipSlide7FrameworkforMarketOpportunityAnalysisSpecifyOpportunityinConcreteTermsAssessAdvantageRelativetoCompetitionAssesstheCompany’sResourcestoDelivertheOfferingAssessMarketReadinessofTechnologyIdentifytheSpecificCustomersaCompanyWillPursueIdentifytheUnmetand/orUnderservedCustomerNeedAssessOpportunityAttractivenessMakeGO/NO-GODecisionAdaptedfromRayportandJaworski(2003)DigitalEntrepreneurshipSlideDigitalEntrepreneurshipSlide8UnmetandUnderservedNeeds:

TheCustomerDecisionProcessNeedOriginationInformationGatheringEvaluationPurchaseDecisionPost-purchaseEvaluationandBehaviourThe“CustomerDecisionProcess”frameworkhelpsanalyzeanddiscovercustomerneedsPre-purchasePurchasePost-purchaseCustomerDecisionProcessCarisbrokenandneedstobereplacedGlass’sguideEvaluateprice,features,colour,models,petrolconsumptionBuycarEvaluatenewcarNeedcarforcommutingInternetDealersFriendsParentsPerformmaintenanceservicesCar-BuyingDecisionProcessDigitalEntrepreneurshipSlideDigitalEntrepreneurshipSlide9KodakExampleSawhney,M.etal(2004)CreatingGrowthwithServices,SloanManagementReview,Winter200445(2)DigitalEntrepreneurshipSlideDigitalEntrepreneurshipSlide10SegmentationApproachesThereareseveralapproachestomarketsegmentation.Academicliteratureandtextbooksoftencite:DigitalEntrepreneurshipSlideDigitalEntrepreneurshipSlide11Kotler(1997)ActionableandMeaningfulSegmentationMeaningfulActionableCustomersmustdemonstrateneeds,aspirationsorbehaviouralpatternsthataresimilar

withinasegmentanddifferentacrosssegmentsAdistinctionbetweenaprice-sensitiveandaquality-seekingsegmentismeaningful,sincethetwosegmentsdemonstratedistinguishablesetsofneedsE.parestudentsandlowincomefamilies–meaningful?Segmentscanbe:IdentifiedDescribedReached-througheffectiveandtargetedmarketingprogramsAcustomersegmentconsistingofcustomerswithblueeyesisnotactionable,sinceitisveryhardtoidentifyandreachonlycustomerswithblueeyes

Inorderforacustomersegmentationtobeeffective,itmustbemeaningfulandactionableDigitalEntrepreneurshipSlideDigitalEntrepreneurshipSlide12Example:PDigitalEntrepreneurshipSlideDigitalEntrepreneurshipSlide13PSegmentationPersonalBusinessGroupsLow–MiddleIncome/NotFrequentFliersMiddle–UpperIncome/FrequentFliersStudentsRetireesTripPurposeFlexibilityWhoRetireesBusinessTripsStudentsonVacationGroupTripsAllOtherTripsLow/MidIncomeFamiliesonVacationStudentsGoingHomeOtherLow/MidIncomeonVacationHighIncomeFamiliesonVacationLow/MidIncomeonGetawaysLastMinuteDemographicsandBehaviorOccasionHighIncomeNon-FamilyTripsDigitalEntrepreneurshipSlideDigitalEntrepreneurshipSlide14PNumberofAirlineTripsPersonalBusinessGroupsLow–MiddleIncome/NotFrequentFliersMiddle–UpperIncome/FrequentFliersStudentsRetireesTripPurposeFlexibilityWhoRetireesBusinessTripsStudentsonVacationGroupTripsAllOtherTripsLow/MidIncomeFamiliesonVacationStudentsGoingHomeOtherLow/MidIncomeonVacationHighIncomeFamiliesonVacationLow/MidIncomeonGetawaysLastMinuteDemographicsandBehaviorOccasion=5%±2%=10%±2%=40%±5%HighIncomeNon-FamilyTripsDigitalEntrepreneurshipSlideDigitalEntrepreneurshipSlide15PSegmentPrioritizationPersonalBusinessGroupsLow–MiddleIncome/NotFrequentFliersMiddle–UpperIncome/FrequentFliersStudentsRetireesTripPurposeFlexibilityWhoRetireesBusinessTripsStudentsonVacationGroupTripsAllOtherTripsLow/MidIncomeFamiliesonVacationStudentsGoingHomeOtherLow/MidIncomeonVacationHighIncomeFamiliesonVacationLow/MidIncomeonGetawaysLastMinuteDemographicsandBehaviorOccasion=PrimaryFocus=Approximately45%–55%oftheTotalMarketTotalNumberofTrips=45%–55%oftheMarketHighIncomeNon-FamilyTripsDigitalEntrepreneurshipSlideDigitalEntrepreneurshipSlide16ResourcesNeededAcompanyshoulddefinetheresourcesandtechnologyneededtodeliverthebenefitsoftheoffering,andassesswhethertheyareavailableorcanbecreatedinthecompanyorcanbeprovidedthroughbusinesspartnershipsProvidedbytheCompanyProvidedThroughPartnershipsTypesofResources:Customer-facingInternalUpstreamCategoriesofPartners:ComplementorpartnersCapabilitypartnersTheResourcesoftheCompanytoDelivertheOfferingDigitalEntrepreneurshipSlideDigitalEntrepreneurshipSlide17TheResourceSystemCustomer-FacingResourcesCustomer-facingresourcesincludebrandname,awell-trainedsalesforce,andmultipledistributionchannelsInternalResourcesInternalresourcesareassociatedwiththecompany’sinternaloperations,includingtechnology,productdevelopment,economiesofscale,andexperiencedstaffUpstreamResourcesUpstreamresourcesareassociatedwithacompany’srelationshiptoitssuppliersTheresourcesystemisadiscretecollectionofindividualandorganizationalactivitiesandassets,thattakentogether,createorganizationalcapabilitiesthatallowthecompanytoservecustomerneedsDigitalEntrepreneurshipSlideDigitalEntrepreneurshipSlide18AssessingtheattractivenessoftheopportunityCompetitiveIntensityHowmanycompetitorsStrengthsandweaknessesCustomerDynamicsLevelofunmetneedsormagnitudeofopportunityInteractionbetweencustomersegmentsLikelyrateofgrowthTechnologyvulnerabilityPenetrationofenablingtechnologiesImpactofnewtechnologiesonvaluepropositionMicroeconomicsSizeofopportunity,profitabilityDigitalEntrepreneurshipSlideDigitalEntrepreneurshipSlide19CompetitorProfilingexampleEastmanKodakPurchase

CameraPurchaseFilmTakePicturesDigitallyManipulate

PicturesPrintandReceivePicturesShare

PicturesStorePictures

onCDPurchaseAccessoriesDownloadandChoosePicturestoPrintHPOlympusSnapfishMotoPhotoGeocitiesSeattleFilmworksDistrictOfotoHPAdobe

SystemsFujiSnapfishShutterflyDirectCompetitionIndirect

CompetitionDigitalEntrepreneurshipSlideDigitalEntrepreneurshipSlide20CompetitorMappingtoSelectedSegmentsforPricelineHighperformancelevelMediumperformancelevelLowperformancelevelDigitalEntrepreneurshipSlideDigitalEntrepreneurshipSlide21TheOpportunityStory

Oncetheanalysisiscomplete,themanagementteamshouldcraftan“opportunitystory”ThestoryisaroughoutlineofthebusinessplanItshouldenabletheteamtodecidewhetherornottopursuetheopportunityOpportunityStoryTargetsegmentoverviewHigh-levelvaluepropositionExpectedcustomerbenefitsCriticalcapabilitiesandresourcesneededWhythesecapabilitieswillbeasourceofadvantageCategorizationofcapabilitiesandresourcesHowthecompanycanmonetizetheopportunityInitialassessmentoffinancialopportunityDigitalEntrepreneurshipSlideDigitalEntrepreneurshipSlide22Thinkaboutthis:"Ienjoy...lookingatchartsaboutwhatsitesaregettingthemosttraffic.Everyonealwayslooksatthetopofthechart—Ialwayslookatthebottombecausethebottomiswheretheopportunityis.You'renotgoingtocompetewithYahooandNetscapeatthetop—it'sthebottomwheretheopportunityis."—MichaelRobertson,CEOofMP3.cominaninterviewwithCNETNews.

DigitalEntrepreneurshipSlideMarketopportunitiesBUSI22700

DigitalEntrepreneurshipMarketopportunitiesBUSI22700AgendaFirststepinthestrategymodelHowandwheretoseekopportunities-relationshiptovalueStepsinidentifyingtheopportunitiesTheimportanceofidentifyingcustomerneedsMappingcompetitorsandresourcesfordeliveryFramingtheMarketOpportunityBusinessModelCustomerInterfaceMarket

Communication

andBrandingImplementationMetrics(Rayport&Jaworski2003)StrategyformulationAgendaFirststepinthestrateDigitalEntrepreneurshipSlide25ANewandusedcarpurchasingFinancingcomparisonandpurchaseReal-timeinsurancequotesWholesaleanchorsServicetrackingRequestDealerQuoteFinanceMakeSaleSourceWarranty,InsuranceQuotesTrackVehicleServiceCollectResearchPublishClassifiedAdsSourcingProcessingSalesEtc.RawMaterialManufactureSourcingDesignManufactureEtc.ComponentManufactureDesignMarketingManufactureEtcAssemblyMarketingInventorySalesEtc.DistributionPartsInventoryTrainingServicingEtc.MaintenancePurchasingInventorySalesEtc.UsedResaleCarManufactureandSalesValueSystemDigitalEntrepreneurshipSlideDigitalEntrepreneurshipSlide26ValueTypesLookatValueSystemtoDiscoverNewBusinessOpportunitiesLiberateTrappedValueIntroduceNew-to-the-WorldValueCreateMoreEfficientMarketsEnableEaseofAccessCustomizeOfferingsExtendReachandAccessCreateMoreEfficientSystemsDisruptCurrentPricingPowerBuildCommunityEnableCollaborationIntroduceNewFunctionality/ExpertiseeBayCovisintBizBGSFedExBizRCPMyYahooAmazonpersonalizedpageKMyFEProjectPoint“C-Mode”vendingmachinesNetworked-economycompaniescancreatevalueintwoways:liberatetrappedvalueorintroducenew-to-the-worldvalueDigitalEntrepreneurshipSlideDigitalEntrepreneurshipSlide27FourkeyareasCustomerAnalysecustomerenvironmentforunmetorunderservedcustomerneedsTechnologyAnalysetechnologyenvironmentforreadinessoftheparticulartechnologytodeploythefirm’sofferingCompetitionAnalysethecompanyenvironmenttoascertainstateofthecompany’sresourcesCompanyAnalysethecompetitionenvironmenttorevealthestructureoftheindustry,keycompetitors,andthefirm’srelativeadvantageMarketopportunityanalysisrevolvearoundfourelements:customer,company,technologyandcompetitionDigitalEntrepreneurshipSlideDigitalEntrepreneurshipSlide28The“SweetSpot”forMarketOpportunityCOMPETITIONCOMPANYTECHNOLOGYCUSTOMER“SweetSpot”DigitalEntrepreneurshipSlideDigitalEntrepreneurshipSlide29FrameworkforMarketOpportunityAnalysisSpecifyOpportunityinConcreteTermsAssessAdvantageRelativetoCompetitionAssesstheCompany’sResourcestoDelivertheOfferingAssessMarketReadinessofTechnologyIdentifytheSpecificCustomersaCompanyWillPursueIdentifytheUnmetand/orUnderservedCustomerNeedAssessOpportunityAttractivenessMakeGO/NO-GODecisionAdaptedfromRayportandJaworski(2003)DigitalEntrepreneurshipSlideDigitalEntrepreneurshipSlide30UnmetandUnderservedNeeds:

TheCustomerDecisionProcessNeedOriginationInformationGatheringEvaluationPurchaseDecisionPost-purchaseEvaluationandBehaviourThe“CustomerDecisionProcess”frameworkhelpsanalyzeanddiscovercustomerneedsPre-purchasePurchasePost-purchaseCustomerDecisionProcessCarisbrokenandneedstobereplacedGlass’sguideEvaluateprice,features,colour,models,petrolconsumptionBuycarEvaluatenewcarNeedcarforcommutingInternetDealersFriendsParentsPerformmaintenanceservicesCar-BuyingDecisionProcessDigitalEntrepreneurshipSlideDigitalEntrepreneurshipSlide31KodakExampleSawhney,M.etal(2004)CreatingGrowthwithServices,SloanManagementReview,Winter200445(2)DigitalEntrepreneurshipSlideDigitalEntrepreneurshipSlide32SegmentationApproachesThereareseveralapproachestomarketsegmentation.Academicliteratureandtextbooksoftencite:DigitalEntrepreneurshipSlideDigitalEntrepreneurshipSlide33Kotler(1997)ActionableandMeaningfulSegmentationMeaningfulActionableCustomersmustdemonstrateneeds,aspirationsorbehaviouralpatternsthataresimilar

withinasegmentanddifferentacrosssegmentsAdistinctionbetweenaprice-sensitiveandaquality-seekingsegmentismeaningful,sincethetwosegmentsdemonstratedistinguishablesetsofneedsE.parestudentsandlowincomefamilies–meaningful?Segmentscanbe:IdentifiedDescribedReached-througheffectiveandtargetedmarketingprogramsAcustomersegmentconsistingofcustomerswithblueeyesisnotactionable,sinceitisveryhardtoidentifyandreachonlycustomerswithblueeyes

Inorderforacustomersegmentationtobeeffective,itmustbemeaningfulandactionableDigitalEntrepreneurshipSlideDigitalEntrepreneurshipSlide34Example:PDigitalEntrepreneurshipSlideDigitalEntrepreneurshipSlide35PSegmentationPersonalBusinessGroupsLow–MiddleIncome/NotFrequentFliersMiddle–UpperIncome/FrequentFliersStudentsRetireesTripPurposeFlexibilityWhoRetireesBusinessTripsStudentsonVacationGroupTripsAllOtherTripsLow/MidIncomeFamiliesonVacationStudentsGoingHomeOtherLow/MidIncomeonVacationHighIncomeFamiliesonVacationLow/MidIncomeonGetawaysLastMinuteDemographicsandBehaviorOccasionHighIncomeNon-FamilyTripsDigitalEntrepreneurshipSlideDigitalEntrepreneurshipSlide36PNumberofAirlineTripsPersonalBusinessGroupsLow–MiddleIncome/NotFrequentFliersMiddle–UpperIncome/FrequentFliersStudentsRetireesTripPurposeFlexibilityWhoRetireesBusinessTripsStudentsonVacationGroupTripsAllOtherTripsLow/MidIncomeFamiliesonVacationStudentsGoingHomeOtherLow/MidIncomeonVacationHighIncomeFamiliesonVacationLow/MidIncomeonGetawaysLastMinuteDemographicsandBehaviorOccasion=5%±2%=10%±2%=40%±5%HighIncomeNon-FamilyTripsDigitalEntrepreneurshipSlideDigitalEntrepreneurshipSlide37PSegmentPrioritizationPersonalBusinessGroupsLow–MiddleIncome/NotFrequentFliersMiddle–UpperIncome/FrequentFliersStudentsRetireesTripPurposeFlexibilityWhoRetireesBusinessTripsStudentsonVacationGroupTripsAllOtherTripsLow/MidIncomeFamiliesonVacationStudentsGoingHomeOtherLow/MidIncomeonVacationHighIncomeFamiliesonVacationLow/MidIncomeonGetawaysLastMinuteDemographicsandBehaviorOccasion=PrimaryFocus=Approximately45%–55%oftheTotalMarketTotalNumberofTrips=45%–55%oftheMarketHighIncomeNon-FamilyTripsDigitalEntrepreneurshipSlideDigitalEntrepreneurshipSlide38ResourcesNeededAcompanyshoulddefinetheresourcesandtechnologyneededtodeliverthebenefitsoftheoffering,andassesswhethertheyareavailableorcanbecreatedinthecompanyorcanbeprovidedthroughbusinesspartnershipsProvidedbytheCompanyProvidedThroughPartnershipsTypesofResources:Customer-facingInternalUpstreamCategoriesofPartners:ComplementorpartnersCapabilitypartnersTheResourcesoftheCompanytoDelivertheOfferingDigitalEntrepreneurshipSlideDigitalEntrepreneurshipSlide39TheResourceSystemCustomer-FacingResourcesCustomer-facingresourcesincludebrandname,awell-trainedsalesforce,andmultipledistributionchannelsInternalResourcesInternalresourcesareassociatedwiththecompany’sinternaloperations,includingtechnology,productdevelopment,economiesofscale,andexperiencedstaffUpstreamResourcesUpstreamresourcesareassociatedwithacompany’srelationshiptoitssuppliersTheresourcesystemisadiscretecollectionofindividualandorganizationalactivitiesandassets,thattakentogether,createorganizationalcapabilitiesthatallowthecompanytoservecustomerneedsDigitalEntrepreneurshipSlideDigitalEntrepreneurshipSlide40AssessingtheattractivenessoftheopportunityCompetitiveIntensityHowmanycompetitorsStrengthsandweaknessesCustomerDyn