ISBN 1-842180-73-8
Modern entrepreneurs are far too consumed with their businesses and business ideas to consult a textbook, but they do need advice and guidance to assist them in dilemmas where their experience is patchy. The concept of a roadmap rather than a textbook is ideal for busy and impatient business people who need a reference point, and this book provides the perfect answer to those needing inspiration to resolve a critical marketing issue.
Greg Byrne’s experience in assisting Irish entrepreneurs to achieve scale is very rich and should provide lessons for aspiring start-ups worldwide. A major issue in the dotcom collapse has been an inability of technology entrepreneurs to plan and execute a route to market for their products. This roadmap is a real tour
de force in defining and refining that route to market
- Pat Maher, Executive Director, Enterprise-Ireland .
( Enterprise Ireland is the national organisation with responsibility for accelerating Irelands national and regional development and focuses its resources on companies that are characterized by high levels of ambition, innovation and commitment to international growth)
Foreword by Denis O’Brien, Chairman, Digicel Limited
(Chairman of Ernst & Young Entrepreneur Of The Year Awards
Programme Judges Panel (Ireland) and Member of Judges Panel
Ernst & Young World Entrepreneur Of The Year Awards 2001)
Foreword by Gregory K. Ericksen, Ernst & Young Global Director
Entrepreneur Of The Year
(Author of The Ernst & Young Entrepreneur Of The Year Award: Insights from the Winner’s Circle , Dearborn, 2002, and three other books profiling successful entrepreneurs)
Preface
Acknowledgements
Chapter 1:
What Lies Ahead: The Roadmap and Stages of Growth
Introduction
The Entrepreneurs Roadmap
Stages of Enterprise Evolution
Start Up and Emerging Stage
Rapid Growth Stage
Next Level Stage
Marketing Decisions/Growth Drivers Matrix
Market-Led Growth Strategies
Operating Infrastructure
Capital Funding
Managing the Business
Wealth Building and Retention
Summary
Chapter 2:
The Journey’s Engine: Market Intelligence and Segmentation
Introduction
Foundation for a Market-Led Business
Marketing Audit and Analysis
Market Segmentation
Segmentation Process
Customer Satisfaction
Questionnaire
Summary
Chapter 3:
Marketing Gearbox: Decisions for Stage One Growth/Start Up and Emerging
Introduction
Start Up and Emerging Stage Overview
Company Characteristics
Company Goals
Marketing Objectives
Communication Strategies
Communication Media
Market Intelligence
Market Intelligence Methods
Start Building a Market Intelligence Process into the
Business
Market Segmentation
Initial Segmentation for this Stage
Corporate Brand Positioning
Introduction
Brand: The Most Important Business Strategy
Start Up and Emerging Stage Branding Steps
Product Positioning
Define Your Position
Unique Selling Propositions
Securing Trust in Radical New Product
Get the Innovators and Early Adopters
Channel Management
Initial Channel Choice
Initial Channel Decision
A Channel Model
Integrated Marketing Communications
Positioning Statement
Communication Steps
Business and Consumer Communication Differences
Initial Communication Methods and Objectives
Advertising
Corporate/Product Brochures
Exhibition/Trade Shows/Conferences
Open Days
Case Studies
Testimonials
Publicity
Direct Marketing
Direct E-Mail Marketing
Personal Selling
Sales Process
Structuring the Sales Force
Sales Staff Recruitment and Management
Sales Remuneration and Management
Sales Manner and Face2Face Technique
Sales Tools
Proposals/Responding to Request for a Proposal
Pitches – Elevator, Lobby and 15 Minutes
Sales Promotions
Summary
Chapter 4:
Marketing Gearbox: Decisions for Stage Two/Rapid Growth Stage
Introduction
Rapid Growth Stage Overview
Company Characteristics
Company Goals
Marketing Objectives
Communications Strategies
Communications Media
Market Intelligence and Segmentation
Market Intelligence
Corporate Brand Positioning Development
Initial Personality Brand
Brands and Buyer Behaviour
Leadership Brands
Brand Position Development Process
Research and Analysis Stage
Position Development Stage
Brand Implementation Platform
Brand Beckon: Brand Personality and Communications
Brand Experience Delivery Programme
Product Positioning Development
Internal Management Review
Market Screening
Product Screening
Gap-Opportunity Analysis
Product Concept Generation
Testing of Product Concepts
Product Interrogation
Competitor Benchmarking
Base-Line Segmentation Research
Impact Assessment
Business Case
Product Adoption
Channel Management
Key Account Management for critical customers
Intermediary and Re-seller Business Development
Internationalisation
The Process
Export Readiness
International Market Research
New International Market Entry
Think Global – Act Local
Translation Tips
International Market Development
Management Team and Location
Integrated Marketing Communications
Sponsorship
Summary
Chapter 5:
Marketing Gearbox: Decisions for Stage Three/The Next Level
Transition Stage
Introduction
Next Level Transition Stage Overview
Company Characteristics
Company Goals
Marketing Objectives
Communication Objectives
Communication Tools
Directional Policy Matrix (DPM) Analysis
DPM Process
Annual Marketing Plan
Entrepreneur Marketing Insights – Winning Decisions
Integrated Marketing Programmes to Create a Top European
Brand Mark Bezner, Joint Managing Director, OLYMP Bezner
GmbH & Co. KG
Integrated Marketing Communications: A New Corporate
Identity that had to Be Born Global
Peter Conlon, Chief Executive Officer, Xsil Ltd
New Market Entry – A Winning Formula
Monica Eisinger, President and CEO, MIND CTI Ltd (Nasdaq:
MNDO and TASE)
Lateral Thinking for Brand Creative
Cormac Hanley, Founder, Oasis Design Group
E-Business Strategy and the Internet
Angela Kennedy, Business Director, Megazyme International
Ireland Ltd
New Product Adoption
Gerry McCaughey, Managing Director, Century HomesErnst & Young Industry Entrepreneur Of The Year ®
2003,
Ireland
World-Class New Product Development
Martin McVicar, Managing Director, Combilift Ltd
Ernst & Young Entrepreneur Of The Year ® 2001, Ireland
Marketing Through a Manufacturers Representative
Distribution in North America.
Terence Monaghan, Chief Executive Officer, BetaTHERM
Sensors
A Winning Product Strategy
Fionan Murray, Chief Executive Officer, LeT Systems Ltd
From a Personal-Based Brand to Leadership Brand Position
Padraig O’Ceidigh, Managing Director, Aer Arann
Ernst & Young Entrepreneur Of The Year® 2002, Ireland
Partnering: A Driver for Innovation and Growth
Lirio Albino Parisotto, President, Videolar
Ernst & Young Entrepreneur Of The Year 2002 Brazil
International Marketing and Expansion: A “Local Global”
Strategy
Mario Moretti Polegato, President, Geox International S.r.l
Ernst & Young Entrepreneur Of The Year ® 2002, Italy
Brand Building – Without the Budget
Richard Reed, Co-Founder, Innocent Drinks
Ernst & Young Young Entrepreneur Of The Year ® 2003
United Kingdom
Keeping the Brand Relevant and Differentiated
Les Schirato, Chief Executive Officer, Cantarella Bros. Pty. Ltd
Ernst & Young Young Retail, Consumer & Industrial Products
Entrepreneur Of The Year ® 2001, Australia
Glossary of Terms
References
L
I S T OF
F
IGURES
Figure 1: The Four Go-To-Market Processes
Figure 1.1: Importance of Marketing for Business Success
Figure 1.2: Marketing Is Key when Presenting to Funders
Figure 1.3: Winning Marketing Decisions and Growth Stage Map
Figure 1.4: Business Growth Driver Matrix
Figure 2.1: Stalled Versus Growing Companies
Figure 2.2: Market Intelligence Foundation for Marketing Planning
Figure 2.3: Market Research Steps
Figure 2.4: Why Consumers Buy Brands
Figure 2.5: How Consumers Buy Brands
Figure 2.6: Assessing Market Attractiveness
Figure 3.1: Questions to Help you Define your Mission Statement
Figure 3.2: Generating Combination Names
Figure 3.3: Brand Logos
Figure 3.4: Early Adopters of a New Product
Figure 3.5: Channel Model Illustration
Figure 3.6: Communication Flows, Barriers and Accelerators
Figure 3.7: Difference between Consumer and Business Communications
Figure 3.8: Communication Objectives and Tools by Stage of Growth
Figure 3.9: Ranking of Communication Tools by Objective
Figure 3.10: A Willing Buy Is a Successful Sale
Figure 3.11: Structuring the Sales Force
Figure 3.12: Buyer Personality Types
Figure 3.13: Key Criteria for a Buyer of Professional Services
Figure 3.14: The 15 Minute Sales Pitch to a Funder
Figure 3.15: Using Guarantees as a Promotional Tool
Figure 4.1: Market Research Process
Figure 4.2: Segmentation Research Steps
Figure 4.3: From “Personal Brand” to “Leadership Brand”
Figure 4.4: Branding as the Competitive Strategy
Figure 4.5: Brands and Buyer Behaviour
Figure 4.6: How a Leadership Brand Is Built
Figure 4.7: Brand Position Segmentation Research
Figure 4.8: Brand Beckon Communications
Figure 4.9: Brand Breathe Delivery
Figure 4.10: Product Concept Elements
Figure 4.11: How Consumers Value a Service
Figure 4.12: Product Adoption
Figure 4.13: Relationship Levels with Key Account Customers
Figure 4.14: Devising a Key Account Strategy
Figure 4.15: A Key Account Organisation and Relationship Map
Figure 4.16: KAM Performance Measures
Figure 4.17: Intermediary Ranking Map of Suppliers
Figure 4.18: Process of Internationalisation
Figure 4.19: Cross-Cultural Communications: Differences that InfluenceMarketing Communications and Selling
Actions
Figure 4.20 Doing Business in the USA
Figure 4.21 Doing Business in Japan
Figure 4.22 Doing Business in Western and Central Europe and France
Figure 4.23 Doing Business in Germany
Figure 5.1: Deciding Market Attractiveness Factors for the DPM Analysis
Figure 5.2: Assessing Market Position in the DPM Analysis
Figure 5.3: Market Positions Mapped in Markets and Strategic
Implications
Figure 5.4: Marketing: Objectives, Strategies and Actions
Figure 5.5: “Miles & More” Promotion
Figure 5.6: Shop Display
Figure 5.7: Xzil Logo: May 2000–Jan 2002
Figure 5.8: The New Xsil Logo: March 2002+
Figure 5.9a: Munich Trade Show – Xsil Launch, March 2002
Figure 5.9b: Xsil Booth Bar – great networking strategy
Figure 5.10: Source: Semiconductor International Magazine June/July
Edition 2003
Figure 5.11: Mind Logo
Figure 5.12: Identity Design Process
Figure 5.13: New Brand Personality Applications
Figure 5.14: The Combilift
Figure 5.15: Images from a Geox Shop
Figure 5.16: Magic Geox and his Website (www.magicgeox.it)
Figure 5.17: Geox Logo
Figure 5.18: The First Ever Dancing Grass Van to Tour the Streets of the
UK and Ireland In 2002
Figure 5.19: Nina Talking to a Consumer on the Banana Phone
Figure 5.20: The Innocent Website
Figure 5.21: Fruitstock
Figure 5.22: Vittoria Cafes
Figure 5.23: The “White Coffee Bean”
Figure 5.24: The “Award Winning Restaurant” Campaign
L
I S T OF
T
EMPLATES
Chapter 2
Template 1: PEST Analysis for Market Drivers and Market Strategy
Template 2: Market Segmentation
Chapter 3
Template 3: Market Research Process
Template 4: Channel Decision Process.
Template 5: Advertising Campaign Planning Process
Template 6: Request for Proposal for Media Relations Services to
Company X
Template 7: Direct Mail Marketing
Template 8: Brand/Product Position Statement – To Drive All Marketing
Communications – During the Emerging Stage
Template 9: Corporate Brand: Integrated Marketing Communication
Programme for Start Up and Emerging Stage
Chapter 4
Template 8: Brand/Product Position Statement – To Drive All Marketing
Communications – During the Rapid Growth Stage
Template 9: Corporate Brand – Integrated Marketing Communication
Programme for Rapid Growth and Next Level Stages
Template 10: Corporate Brand Position Development Process
Template 11: Advertising Agency Creative Brief and Media Planning
Template 12: Corporate Brand Position Experience Programme
Template 13: Product Positioning Development and Launch Process
Template 14: Key Account Management
Template 15: Intermediary Corporate Brand Positioning Development
Process
Template 16: International Expansion Strategy Development
Template 17: Product Adaptation for International Markets
Chapter 5
Template 18: DPM Analysis of Market Positions and Market Attractiveness
Template 19 Marketing Planning Process Insights, Tips and Templates
Template 20: Market Plan Document
L
I S T OF
E
XAMPLES
Example 2.1: Base-Line Segmentation Study for a Financial Services
Company
Example 2.2: Attitudinal Statements that were Asked in a Financial
Services Segmentation Survey
Example 2.3: Buying Process Questions that were Asked in a Financial
Services Segmentation Survey
Example 2.4: Questions from a Financial Services Segmentation Survey
Example 2.5: Customer Clusters In Retail Financial Services Market
Example 2.6: Brand/Product Positioning and Marketing Communications for One of the Financial Services Customer Clusters/Market
Segment – Keen Learners
Example 3.1: Focus Group Research on Corporate Brand/New Product for a
Financial Services Company
Example 4.1: Brand Positioning Used in Research for a Financial Services
Company
Example 4.2: Research Feedback and Analysis on a Brand Positioning
Example 4.3: Product Screening Information for a Financial Services
Product
Example 4.4: A Financial Services Intermediary Segmentation
Example 4.5: A Financial Services Intermediary Branded Concept and
Segment Response
L
I S T OF
C
HECKLISTS
Checklist 3.1: Winning Sales and Information Brochures
Checklist 3.2: Winning Trade Shows and Exhibitions
Checklist 3.3: Winning Conferences
Checklist 3.4: Winning Open Days
Checklist 3.5: Crisis Response
Checklist 3.6: Media Relations Agency Proposal Performance Criteria
Checklist 3.7: All Direct Marketing Communications.
Checklist 4.1 Deciding a Sponsorship Involvement