Lean Product Marketing Through Productization
Have an idea for a new product, or your existing offering isn’t selling much? Determining if a new product idea is desirable before producing it, or effectively marketing an existing offering, requires a thorough understanding of what you’re hoping to sell. Productization is the process of becoming intimate with your potential or existing offering. Performing this process enables you to produce products of value, as well as tightly targeted branding and advertising campaigns that garner the greatest response.
In this interactive workshop, we put marketing theory into practice. We’ll implement Productization lists of features, benefits, solutions, target market and likely customers for your offering, not only to be able to chat it up with knowledge, but also to use as content—keywords and phrases all related to your offering—in your branding and advertising campaigns.
During the Productization process, we’ll project ‘product/market fit,’ then clearly, concisely and specifically identify the characteristics of the offering you envision, or have already produced. We’ll explore how to assess your competition, discover how to iterate your idea to make it uniquely valuable, and conceive future offerings and markets. Utilizing the content from your Productization lists, you’ll construct an elevator pitch to chat up your new venture, as well as determine how your offering will make money by establishing profit models for launch, and beyond.
The Productization process isn’t rocket science, but it’s the first place most products fail. Neglecting to productize your offering, at best, you’ll likely waste a lot of time and money on misdirected marketing that gets little traction. At worse, ignoring Productization leads to startup failure. Productization is time-consuming, detail-oriented, and necessary to perform IN ORDER, to produce tightly targeted marketing campaigns that motivate viewers to click, try, or buy your offering.
● MBA to novice, this course teaches students all the marketing they’ll ever need to know to become proficient at marketing.
● Learn how to perform the Productization process on every offering conceived. Create dynamic lists of the features and benefits your idea, or actualized offering, provides.
● Define and list solutions your offering provides (functionality; entertainment; real goods and/or services) for at least one specific group of people.
● Discover potential target markets and customers that have a need for your product or service.
● Perform Competitive Analysis on direct and indirect competition in your product/service space.
● Highlight and create differentiators, Unique Value Propositions (UVP) that separate your offering from your competitors.
● Iterate your idea into a product, service, and/or startup that offers a solution to the largest audience possible.
● Construct an Elevator Pitch for your offering, with several variations to suit the audience you’re pitching.
● Explore profit models applicable to your product or service for launch, and 5 years down the line.
● Identify horizontal and vertical markets for your current offering, as well as future iterations (1.0, 2.0…) of your product or service.
By the end of this course, students will be able to plug virtually any idea, product in development, or actualized offering into the Productizaton process to create offerings of value, and effectively market them for profit.