Spotify Swedish company sought to target the Us and then the world Spotifys

Spotify swedish company sought to target the us and

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Spotify ! Swedish company – sought to target the Us and then the world ! Spotify’s vision was to give people the right music at the right time while incentivizing artists by paying them based on number of shares their music received. ! Spotify grew from zero to over 1 million paying subscribers in the US — a market foreign to Spotify’s native Swedish team and one already teeming with competitors. ! To achieve its current 10 million paying and 24+ million total user base, Spotify set out a basic roadmap of prototyping early and cheaply, launching only when a baseline of quality was met, and t hen iterating based on user feedback .
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How Spotify Builds Products ! Our core philosophy is: 1. “We create innovative products while managing risk by prototyping early and cheaply.” 2. “We don’t launch on date, we launch on quality.” 3. “We ensure that our products go from being great at launch to becoming amazing, by relentlessly tweaking after launch.”
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Spotify ! All major product initiatives go through four stages 1. Think It — Decide what product to build, then build prototypes and test viability internally. 2. Build It — Create a physical MVP ready for user testing. 3. Ship It — Gradually release the MVP to all users while collecting data and improving. 4. Tweak It — Iterate continuously based on feedback until product is shut down or revamped (returning us to Think It).
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Process summary ! There are many versions of the NPD process – most tend to have the same fundamental stages ! Each firm must calibrate the process to their needs depends on industry, markets, strategic position and stance, risk adverseness… ! Gates are critical and must be designed to fairly and appropriately assess ideas and projects ! Speed is of the essence today so care is needed to enable projects to meet market timing imperatives
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RMIT - MKTG1092 Session 1: Summary ! Phew! A big start ! Innovation is the lifeblood of the business ! Products still fail at high rates – up to 75% in some cases ! Markets are more competitive than ever ! Consumers are more fickle than ever ! Costs of marketing are higher than ever ! Innovations in media, technology, and management are promoting increased success ! Your task is to read, research, participate, engage, be proactive, be passionate, be prepared, do the required work in good time, be a proper and excellent group member…..
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Ways to innovate - ideas? Larger – Home TV’s More – FMCG Less – FMCG Faster – Info Slower – ?? Louder – Home Quieter – White Goods Top-Bottom – FMCG
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  • Three '17
  • new product development, NPD, product innovation

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