Info e tips about pitching, some questions that could be used as a track. How to find the right market, possibly segmenting it with demographics and psychographics, considering country specific constraint (and issues related to export). SWOT analysis for target market. How to narrow a market. Business to business versus business to consumer markets.

1. Find your market
Frieda Brioschi
frieda.brioschi@gmail.com
IED
Lesson 8

2. Course program
1. Italian Startups
2. Set up a startup in Italy
3. I've got an idea. And now?
4. Value analysis
5. Business model
6. Communicate, communicate, communicate
7. Being net
8. Find your market
9. Funding: venture capital, business angel and other
ways of financing
10. Pitch

3. Today's table of content
1. Pitch
2. Target market

4. Being net: quick recap
During last lesson we discussed the launch of your
product/company in term of communication,
analyzing Robert Scoble’s recipe.
“What you want to do is have a story that travels to
the people who are most likely to need your product.
It all starts with a story.”

5. Being net: quick recap
Then we went through a startupper advise, Giuliano
Iacobelli's list of interesting and useful websites:
• startup directories
• tech magazines
• magazines in your field/market

6. Being net: quick recap
We started discovering on/off line resources,
discussing what is an incubator and what are certified
incubators and which characteristics have public,
private and university incubators.
Then we approached a new way to work – coworking
- with its italian examples and finally we listed some
networking recurring events.

7. Pitch

8. A (very) short speech.
http://mindyourpitch.com/blog/what-is-an-elevator-pitch/
What is an elevator pitch?

9. 1.Be short (less is more!)
2. Wow effect (6-10 seconds to generate curiosity)
3. Who (add some info about you)
4. KISS
http://www.ninjamarketing.it/2011/10/25/lelevator-pitch-larte-di-comunicare-unidea-in-modo-efficace-e-in-pochi-secondi/
Tips

10. 1. Concise
2. Clear
3. Compelling
4. Credible
5. Conceptual
6. Concrete
7. Customized
8. Consistent
9. Conversational
http://elevatorpitchessentials.com/essays/ElevatorPitch.html
The nine C's of an effective elevator
pitch

11. 1. What is your product or service?
2. Who is your market?
3. What is your revenue model?
4. Who is behind the company?
5. Who is your competition?
6.What is your competitive advantage?
http://www.businessknowhow.com/money/elevator.htm
Six question you must answer

12. • Volunteers (you’ll earn 2 extra points!)
• one pitch one person (but we can discuss this)
• present your project, if you’ve one or
• you can present an existing product/company
• slide format: pdf, ppt, Prezi (online)
Our rule

13. Target market

14. Who are your customers? Who will buy your
product?
People purchase products or services for three basic
reasons:
• To satisfy basic needs.
• To solve problems.
• To make themselves feel good.
http://sbinfocanada.about.com/cs/marketing/a/targetmarket.htm
Target market

15. 1. Look at your current customer base
2. Check out your competition
3. Analyze your product/service
4. Choose specific demographics to target
5. Consider the psychographics of your target
6. Evaluate your decision
http://www.successdesigns.net/articles/entry/how-to-define-your-target-market/
Definition

16. •Age: children, teens, young, middle, elderly
•Location
•Gender: male, female
•Education: high school, college, university
•Income: low, medium, high
•Marital status: single, married, divorced
•Ethnic and/or religious background
•Occupation
•Family life cycle: newly married, married for 10 – 20
years, with or without children.
http://sbinfocanada.about.com/cs/marketing/a/targetmarket_2.htm
Segmentation by demographics

17. •Personality
•Values
•Lifestyle: conservative, exciting, trendy, economical
•Social class: lower, middle, upper
•Opinion: easily led or opinionated
•Activities and interests: sports, physical fitness,
shopping, books
•Attitudes and beliefs: environmentalist, security
conscious.
•Behaviour
http://sbinfocanada.about.com/cs/marketing/a/targetmarket_2.htm
Segmentation by psychographics

18. •import barriers
•import quotas and currency restrictions
•taxation
•health regulations
•'CE marking' for exports to most European nations
•safety regulations
•environmental standards
•accreditation issues
•how you will be paid for your exported products or
services
•legal agreements.
Challenges to exporting
http://www.nzte.govt.nz/en/export/starting-to-export/identify-your-target-market/

19. •tariffs or duties
•industry regulations
•political instability
•business laws
•intellectual property protection
•product to market logistics
•quarantine and regulatory requirements.
Country specific constraints
http://www.nzte.govt.nz/en/export/starting-to-export/identify-your-target-market/

20. •target audience
•SWOT
•marketing goals
•positioning
•pricing
•distribution
•marketing strategies
•communication stratefy
•media plan
•schedule
•budget
•tracking and evaluation
Research and analysis

21. Strengths could include:
•personal and flexible customer service
•special features or benefits that your product offers
•specialist knowledge or skills
Weaknesses could include:
•limited financial resources
•lack of an established reputation
•inefficient accounting systems
SWOT/1
http://www.infoentrepreneurs.org/en/guides/create-your-marketing-strategy/

22. Opportunities could include:
•increased demand from a particular market sector
•using the Internet to reach new markets
•new technologies that allow you to improve product
quality
Threats could include:
•the emergence of a new competitor
•more sophisticated, attractive or cheaper versions of
your product or service
•new legislation increasing your costs
•a downturn in the economy, reducing overall
demand
SWOT/2
http://www.infoentrepreneurs.org/en/guides/create-your-marketing-strategy/

23. Here’s the problem with target markets: They’re too
big.

24. "Companies that try to be all things to all customers
are sure to fail.”
• The Dangers of Being Unfocused
• Become an Expert in one Area (Starbucks!)
• Do the Market Research
• Tweak your Marketing
http://www.inc.com/guides/201104/how-to-narrow-your-target-market.html
Narrowing your target market

25. http://www.educationbusinessblog.com/2007/07/target_market_selection_1.html?p=42
Matter of balancing

26. Product Vs Market
According to Steve Blank:
• new product new market
• new product existing market
• "existing" product segmenting an existing market,
acting on cost
• new product segmenting an existing market, creating
a niche
They differ for consumers, needs, perfomances,
competitors and risks.
http://blog.nicolamattina.it/2011/03/i-quattro-tipi-di-startup-sencondo-steve-blank/

27. Kinds
•B2B
•B2C
http://plantostart.com/how-to-define-target-market-product/

28. B2B
Your business model is to make a product or service
and charge other companies for using it. The
advantage of this model is that companies have
money and they are willing to spend it on a
product/service, which improves their daily operations,
helps them sell more or communicate better. Google,
Cisco, MySQL and others are using this model.
http://thelaukaitis.wordpress.com/2013/04/18/starting-your-business-2-business-model-and-target-market/

29. B2C
Your business model is to make a product or service
and charge consumers for using it. Even though most
people think this is a very profitable model, most often
companies need to have at least hundreds of
thousands of users in order to earn enough money to
maintain and expand the business. This model is
being used by Starbucks, McDonald’s, Amazon and
others.
http://thelaukaitis.wordpress.com/2013/04/18/starting-your-business-2-business-model-and-target-market/

30. Next week
Funding.
(with Emma Tracanella)