Developing and evaluating business ideas for e-Publishing.

1. Week 2 Business Opportunity Analysis

2. Last Week’s Learnings What is Marketing? What is an e-Publication? Where do business ideas come from?

3. Idea Collection

4. Off > Online Publication Activity Share the publications you brought at your tables Choose the most exciting one Present to the class What was the inspiration? What would the e-Publication offer? Who would be the audience?

5. e-Publication Industry What makes an e-Publication favourable to a printed one? What are some common characteristics of successful online publication sites?

6. Trends What are people buying? http://trendwatching.com/trends/2011sofar/ Who is buying (consumer tribes)? How are the tools changing? http://mashable.com/2011/01/05/web-technologies-2011/

7. Example: Thrillist.com

8. Sample Business Idea Capitalize on Urban Trends Canadian-focus Evolution of the “Thrillist” Idea URBANCHEER.COM

9. Feasibility Analysis

10. Qualitative Analysis - Competition Direct Competition – competes in the same product category Indirect Competition – alternative purchase choice The market will make room for something great.

11. Qualitative Analysis - Competition Is the market easy to enter? Costs of capital Legal barriers Is the offering unique or generic? How saturated is the industry? Is the industry growing, shrinking, or staying the same?

12. Qualitative Analysis – Other Factors Social/Cultural Technology Economic Political Legal What opportunities and threats do these factors create for your business?

13. SWOT Analysis

14. Examples: Strengths & Weaknesses Strengths – what gives your company an edge? Years of experience in the related industry Access to funds Endorsement by an influencer Recognizable name Weaknesses – how is your company vulnerable? High cost of production Low differentiation in a saturated industry Unknown name Lack of network

15. Quantitative Analysis Market Potential – What is the industry worth? =# consumers x $ spent each on average (Can usually find in research) Market Share % - How much could you get of it? Base on research.

16. Quantitative Analysis Potential Revenue =Market Share x Market Potential Net Income =Potential Revenue – Anticipated Expenses

17. Quantitative Analysis – e-Publications How big is the potential audience? # Internet Users in target region # Users within target age demographic Online Publications Revenue in online advertising Revenue in online subscriptions IABCanada Online Advertising Report If you have an audience, the advertisers will come.

18. Information Sources Primary Surveys, focus groups, observation, experimental Secondary Strategis.ic.gc.ca Commerce.statcan.ca Omdc.on.ca Magazinescanada.ca Locally: Ottawa.ca/business Ottawaregion.com

19. Idea Collection - Exercise Develop 1 idea for each collection source Previous experience (work, volunteer, education) Hobbies you have Pain points – things that make people unhappy Industry gaps – something you think is missing Trends – look them up; think of your travels Evolving Ideas – get inspiration from another publication

20. Core Business Decisions

21. Mission, Vision & Values Mission: Purpose and main objectives of the organization; reason for being Vision: Communicated direction in terms of the organization’s values; forward-thinking Values: shared beliefs; drive culture, brand, and strategy

22. Corporate Alignment Corporate Mission, Vision, Values Business Problems & Objectives Marketing Challenges and Objectives Marketing Strategy and Planning Marketing Activities and Campaigns Long Term Short Term Mid Term

23. Brand Statement One possible format: We [name of company] promise [customer group] That they can count on us for [unique attribute or benefit] delivered with [character, tone, mood].

24. Positioning Brand Positioning Strategy: The intended image of a brand within a market space relative to competition and by specified characteristics What will set the company apart within the market segment? Identify existing gaps and saturation – use a Positioning Map

25. Prestigious Price Style Sporty/Sleek Comfortable Affordable

26. Geoff Moore’s formula: For (target customer) Who (statement of need or opportunity) The (product name) is a (product category) That (statement of key benefit – that is compelling reason to buy) Unlike (primary competitive alternative) Our product (statement of primary differentiation)