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U - 09 PR and Advertising

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

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Copyright John L. Nesheim Lesson 9: PR & Adv. 1 John L. Nesheim’s “14 Steps to IPO” Lesson 9 Public Relations and Advertising
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Copyright John L. Nesheim Lesson 9: PR & Adv. 2 Today we continue with Marketing & Sales Move into Public Relations & Advertising Your objective: Refine your Business Plan, adding improved use of Public Relations
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Copyright John L. Nesheim Lesson 9: PR & Adv. 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 Lesson 9: PR & Adv. 4 Review: Marketing & Sales FOCUS = Become the gorilla of a new space
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Copyright John L. Nesheim Lesson 9: PR & Adv. 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 Lesson 9: PR & Adv. 6 Startups win! o
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Copyright John L. Nesheim Lesson 9: PR & Adv. 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 Lesson 9: PR & Adv. 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 Lesson 9: PR & Adv. 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 Lesson 9: PR & Adv. 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 Lesson 9: PR & Adv. 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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Copyright John L. Nesheim Lesson 9: PR & Adv.
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