Winning and Retaining Customers:

Marketing Strategy

Market Research

New Approaches for the New Economy of Rapid Change and Shortening Product Life-Cycles

By: Vadim Kotelnikov

Founder, Ten3 Business e-Coach Inspiration and Innovation Unlimited!

 

"Before you discover, you must explore."

More Customer Success Quotes

Customer Success 360

 

Innovation Quotes

  • If I had asked the public what they wanted, they would have said a faster horse. ~ Henry Ford... More

Steve Jobs's 12 Rules of Success

  1. Ask for feedback. Ask for feedback, from people with diverse backgrounds. Focus on those who will use your product – listen to your customers first... More

Venture Planning Checklist

Customer Assessment

  • Is your venture based on a true marketplace need, not an idea from your family and friends? Do people really want this or do you think they need it? Want wins over need... More

Defining Market Segment & Customer Profile

  • Demographic (education, occupation, income level, age, gender, etc.)

  • Geographic location

  • Business markets (type, size, location, turnover, etc.)

  • Consumer behavior characteristics

 

Why New Products Fail?

  • Inadequate understanding of customers needs and wants; market size and customer buying patterns are not adequately researched.. More

New Product Development (NPD)

Shift To New Approaches: 7 Reasons

  • Designers, not marketers, identify new product opportunities. Traditional marketing tools are good for analyzing existing market ideas. Intuitive thinking, qualitative approach used by designers is very good for imagining new possibilities. Designers identify new product opportunities, create design briefs, conduct market research, develop a platform for further innovations and even brief advertising companies on how to promote the new product... More

New Product Development (NPD)

10 Characteristics of the Most Successful Companies

Innovation Is Love

 

How To Succeed In Innovation

Humorous Business Plan

Milestones Completed and Future Plans: "Nearly 100% of innovation – from business to politics – is inspired not by "market analysis" but by people who are supremely pissed off by the way things are." Tom Peters... More

10 Commandments of Innovation
 

Face the Reality

There's nothing bad about market research as long as you remember that marketing is the game of the future. "Most marketing surveys are reports on the past. Research tells us what customers already did and not necessarily what they're about to do. They don't know what they're going to do and we shouldn't embarrass them with questions."3

Tracking Trends versus Traditional Market Research

 

New ideas, concepts and models are very difficult to measure. There is no frame of reference. As product life-cycles are shortening at an immense rate, traditional market research – both quantitative and qualitative – can sometimes be more of a hindrance than a help. It is good at measuring the past and present.

Besides, "traditional research has the drawback of relying on what consumers say, which is sometimes different from what they actually do in real life. People don't know what they will do until they face an actual decision."1

While you cannot predict the future, you can get a handle on trends, which is a way to take advantage of change and convert risks into opportunities. Spotting and tracking trends can be a very useful tool in dealing with unpredictable future.

Test Market Your New Products

How do you test market a new product or service? How do you find out if people are actually going to buy it? First, make or get a prototype. Create or get a sample. If it's being manufactured somewhere else, get a sample of it. If you're going to manufacture it yourself, create a prototype so that you can show it, demonstrate it, photograph it.

So that you can let people see it, touch it, feel it, and get an opinion from it... More

Market Leadership Strategies

The market leader is dominant in its industry and has substantial market share. If you want to lead the market, you must be the industry leader in developing new business models and new products or services. You must be on the cutting edge of new technologies and innovative business processes. Your customer value proposition must offer a superior solution to a customers' problem, and your product must be well differentiated... More

3 Strategies of Market Leaders

 Best Practices  Google

Google is the Internet’s number one search engine today. What is the reason for their remarkable success? It’s beta testing and market learning. They launched a less than perfect service into the market place to get market feedback. Feedback is the key to dominating a market. It also makes great business sense. Google's competitors were trying to perfect a product by themselves separate from their target market as Google was continuously and rapidly upgrading their original beta version by listening to the customer. They strived to achieve harmony with the reality... More

7 Characteristics of Successful Entrepreneurial Firms

By: NBIA

  • Principals who make business decisions based on a clear understanding of the market and the competition, rather than their own enchantment with their product or service... More

  

 Discover much more in the

FULL VERSION of e-Coach

Most Common Reasons Behind a Failing New Product...

New Product Development: Keys To Successful Market Learning...

Marketing & Selling Strategy at Different Company Growth Stages...

Understanding What Motivates People...

Five Popular Innovation Myths...

Test Marketing Your New Product...

Observing People...

Listening To Customers...

Learning from Customer Feedback...

Learning About the Markets for New-to-the-World Products...

 Case in Point  Palm...

 Case in Point  Dell Computers...

 Case in Point  Google...

 Case in Point  IDEO...

 Case in Point  Innovatel...

 Case in Point  Fun4Biz...

 

Akio Morita advice quotes Sony

Carefully watch how people live,

get an intuitive sense as to what they might want and then go with it.

Don’t do market research.

Akio Morita

Sony

IDEO Tom Kelley creativity innovation quotes

Empathy means challenging your preconceived ideas and setting aside your sense of what you think is true in order to learn what actually is true that people aren’t conscious of.  >>>

Tom Kelley

IDEO

 

 

References:

  1. "Strategic Brand Management", Kevin Lane Keller

  2. "Managing New Products", Thomas D. Kuczmarski

  3. The 22 Immutable Laws of Marketing, Al Ries, Jack Trout and Paul Temporal

  4. "Bottom-up Marketing", Al Ries and Jack Trout

  5. "Radical Innovation", Harvard Business School,

  6. "Creating, Winning, and Retaining Customers," Vadim Kotelnikov

  7. "Competitive Strategies," Vadim Kotelnikov

  8. Winning Customers, Vadim Kotelnikov

  9. New Product – Fast!, Vadim Kotelnikov

  10. 3 Strategies of Market Leaders, Vadim Kotelnikov

 

Free Micro-course

10 slides

Creative Marketing

Winning Customers

How To Create Amazingly Seductive Offers

Make the Competition Irrelevant

Effective Selling

How To Become an Irresistible Sales Communicator: Top 7 Principles

How To Present With Passion

Selling by Listening

Market Learning Quotes

Smart Corporate Leader

Strategies of Market Leaders

Innovation

Why New Products Fail?

Keeping Eyes Open for Inspiration

Trend Spotting Tips

Entrepreneurial Creativity

The Jazz of Innovation