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0:00
Welcome back. This
is Ed Addison.
I'm with NC State University and
this program is Managing
New Product Launches.
This is Session 5, Initial
Market Penetration.
0:14
Today we're going to talk about
product positioning and
initial market penetration.
Just to review,
product positioning
answers the question
who, why and how.
To whom are you marketing?
Why should they buy it and
how do we best make that claim?
0:32
Before going into to the subject
of the market penetration,
I want to talk briefly
about the business model.
The business model
answers the question,
how are you going to make money?
0:44
In order to answer
the question how you're
going to make money,
let's go to your customer.
Your customer is the
person or company who
pays you and that
person or company
may or may not be the user of
your product but the sponsoring
organization perhaps.
For example, when you
do a Google search,
you are not the customer,
the advertiser is.
So, focus on who your customer
is and answer these questions.
What are they paying for?
Specifically, what are
the line items that
they're paying for and
what are the price metrics
you're going to use
for those line items
and are there users
who are not payers?
These users are not
the customer that you
want to focus on,
but you want to focus
on the actual person
who pays you and what
are they paying for.
If you can answer that question,
then you know what your
business model is.
1:35
Now, I'm going to
talk about steps to
a successful tech
product launch.
Once you know who your customer
and your business model is,
we can talk about how to
penetrate the market
with your new product.
