U - 09 PR and Advertising - Lesson 9: PR & Adv. John L....

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Copyright John L. Nesheim 1 John L. Nesheim’s “14 Steps to IPO” Lesson 9 Public Relations and Advertising
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Copyright John L. Nesheim 2 Today we continue with Your objective: Refine your Business Plan, adding improved use of Public Relations
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Copyright John L. Nesheim 3 TODAY What are PR and Advertising all about for startups ? How do startups make best use of PR? Apply to your work How do you fit PR & advertising into your Business Plan?
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Copyright John L. Nesheim 4 FOCUS = Become the gorilla of a new space
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Copyright John L. Nesheim 5 Nr. 1 Task = Build an Unfair Advantage Nr. 1 Goal King of hill of a new market category within 5 years. Start with nothing o
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Copyright John L. Nesheim 6 Startups win! o
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Copyright John L. Nesheim 7 King of the New Hill Gorilla Dominant 30% share of market (category) Leader "Branded" Example: Mobile phones = Nokia
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Copyright John L. Nesheim 8 Examples of focus & positioning (branded) Consumers prefer these car brands because they stand for something in the mind. Toyota: reliable Hyundai: stylishly affordable Lexus: luxury Volvo: safety Scion: hip Mercedes: prestige BMW: driving Source: Laura Ries’s blog (ries.typepad.com/ries_blog)
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Copyright John L. Nesheim 9 What do you want your product to stand for? Decide now Position against competitors GOAL = “Own a word” Volvo = safety
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Copyright John L. Nesheim 10 When will your company be branded? Products take about 10 years to be branded successes Red Bull, Gatorade, Starbucks, Southwest Airlines, Microsoft, WalMart, iPod Rocket start quick fall to earth Hyped launch over-promise = death Fads: Crystal Pepsi (1 year), Cabbage Patch Doll (bankrupt), Apple Newton
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Copyright John L. Nesheim 11 Focus: Make your product/service most attractive to your targeted customer How? By delivering the “best” product in the world Notice: Not “cheapest” or “fastest” Chance to add to your competitive advantage Room for lots of creativity!
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U - 09 PR and Advertising - Lesson 9: PR & Adv. John L....

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