Idea to Enterprise
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The Adaptive Marketing Framework is designed to create a methodology for managing and marketing IT products and services that is practice, process, and performance oriented. The framework is based on the theme of product management as a practice of value management, and extends the concept of customer value to define product management as understanding, creating, capturing, communicating, and delivering superior customer value to target customers. The framework provides guidance across various functions including understanding customer needs, creating market offerings, capturing value through pricing, communicating value propositions, and delivering value through channels and networks.
Idea to Enterprise
- 1. Adaptive Framework Practitioner's path from Idea to Enterprise
- 2. The Adaptive Marketing Framework is designed to create a practice, process and performance oriented methodology to managing and marketing IT products and services. The framework is based on the theme of “Product Management as the practice of Value Management” in IT products and services organizations. It extends the Customer Value as the fundamental theme of Marketing Management to define Product Management as Understanding, Creating, Capturing, Communicating and Delivering superior customer value to target customers. Value Channels & Networks Customer Value Modelling Understanding Value Extensive research to identify critical customer needs and benefits, to determine customer value based segments and to create respective customer value models estimating the potential for differential value. Value Innovation & Engineering Value Innovation practiced to define market offerings leveraging the firm's core competencies by adopting value engineering as the guiding principle in translating customer value drivers to realize market offering concept that offer superior differential value. Creating Value Value Based Pricing Capturing Value Value based pricing practiced to define price policies and structure enabling the firm to charge appropriate price premiums consistent with greater value created and thereby maximize profitability. Value Proposition & Positioning Design channels and build a network of complementary offerings to leverage their capabilities and complementary assets to offer augmenting offerings and deliver superior value to the customers. Delivering Value Communicating Value communications for distinct product positioning extended by value selling tools to ensure customers resonate with the differential value. Integrated marketing ADAPTIVE Marketing Framework Value Management = PRODUCT Management © Copyright 2010, Adaptive Marketing | www.adaptivemarketing.in
- 3. © Copyright 2010, Adaptive Marketing | www.adaptivemarketing.in
- 4. Study target customer segments to assess potential for profitable value creation through market offerings. Evaluate and prioritize firm's distinct core-competencies to deliver superior customer value. Assess the competitive market dynamics and identify strategic imperatives to be addressed through strategic business and market planning. Value Research & Analytics Resources & Competencies Competitive Analysis Win/Loss Analysis Performance Analysis Are critical customer value drivers targeted by your offerings for enhancing customer perceived value? Is your market research powerful truly customer oriented? Is your firm's development of core- competencies creating a platform for a rapid growth of product portfolio targeting multiple product-markets? What are the dynamics impacting the firm's profitability potential? Are you better than your competitors in leveraging opportunities and negate threats emerging from the dynamics in external factors? You probably are tracking your lost opportunities closely, but do you truly know why you are winning with customers? Is your firm's volume market-share growth leading to lower profitability? Is your firm's profitability skewed towards high-risk segments? Have you assessed your firm's Innovation Success? Identifying customer value based market segments to create target customer value models and economic (revenue & profitability) profiles, understand and analyze customer motivations and uncover unmet customer needs. Industry/Market value-chain analysis to identify current and future competencies, and prioritize competencies with highest potential for sustained competitive advantages using the strategic competencies map. Identifying strategic imperatives from industry/market structure analysis (firm positioning and structure dynamics), external factors analysis (firm KPI dynamics) and competitive key success factors analysis (prioritize competitive bases) and benchmarking, for creating sustained competitive advantages. Learn how buyer scenarios are often as important as user scenarios when designing the product and prioritizing your feature-set. Understand the elements of a good process of conducting win/loss analysis with and without sales teams involved. Evaluate the firm's market-share, revenue and profitability on multiple levels to assess success of current strategies against stated objectives. Redefine performance targets considering market planning inputs to set the stage for strategic planning. Market Planning © Copyright 2010, Adaptive Marketing | www.adaptivemarketing.in
- 5. Define and evaluate business and marketing strategies to leverage the market opportunities and create a roadmap for high-profitable growth of the firm. Create a business plan to describe the most economically efficient method to exploit the market opportunities. Target Market Sizing Product Strategy Buy, Build, Partner Pricing & Packaging Business Model & Plan Is your selection of target product- markets reflecting your ability to create sustained competitive advantages and target growth strategies as opposed to maturity strategies? Do you offer products when your customers require solutions? Are your offerings defined as a flexible set of products, services and programs? 60% of GTM partnerships managed on joint-sales basis resulted in lost revenues – is your firm's strategic alliances driven by short-term market performance goals & an excuse for effective business and market strategies? Are your firm's sales targets determining the pricing levels and policies? Are your prices truly reflecting the creation of superior customer value? Are the product level business models defined to capture the critical elements for continuous review, enhancement and evolution, and driving cross-functional strategies and performance? Evaluate product portfolio strengths v/s market (segments) dynamics to define the optimal target market. Profile target product-segment across revenues, average profitability, opportunities for emerging sub-markets and adjacencies, key competitors and competitive offerings to drive product strategy and GTM. Evaluate strategic options at product v/s product-line levels to create a roadmap for sustained competitive advantage – value-innovation, product line decisions, product differentiation strategies, branding decisions undertaken to strengthen market offerings and target superior customer value. Identify critical criteria for evaluating and monitoring strategic alliances driving superior customer value – strategic alliances to leverage competencies and build complementary assets to facilitate market growth strategies. Pricing strategies defined to maximize profitability whilst balancing market-share and revenue performance targets. Identifying pricing policies and incentives cross- functionally aligned to facilitate superior execution. Business model highlights key elements of business and market strategies facilitating superior cross-functional execution, enabling rapid adaptation to market dynamics. Business plan with superior economic return of planned strategies targeting objectively qualified market opportunities. Strategic Planning © Copyright 2010, Adaptive Marketing | www.adaptivemarketing.in
- 6. Effective translation of market requirements and target offering concept into engineering specifications along with efficient & cost optimal product release planning providing rapid time-to-market and under the guidance of a competitive roadmap integrating cross- functional priorities. Requirements Product Line Economics Personas & Scenarios Market Acceptance & Availability Product Roadmap Are your product requirements derived more from product features and functionality as opposed to being driven by customer value drivers and customer needs? Is feature prioritization determined using customer value ranking or ease of development? Is product portfolio budget restricting the cross-development of core- competencies across multiple products? Do you select suppliers prioritized on target pricing or on the basis of optimizing total costs along with superior quality? Do you fully understand the prospective buyer and user and the extent of their problem along with the context on how are they dealing with it? What scenarios have you prioritized to solve for each persona? Can your firm optimize market acceptance planning to influence buying decisions and expedite customer adoption? How should you prioritize the selection of alpha and beta customers? Is your current product roadmap reflecting your product strategy in action? Are you communicating too much or too little to your external stakeholders? Product Planning Best practices in translating customer-market requirements to product requirements with efficient feature prioritization balancing product time-to-market, development costs and competitively superior value to the customer. Define product-line and product level budgets focused on building a portfolio of core-competencies. Strategic cost management including supply management practices aimed at creating superior supply-chain. Research, document and validate the persona “ID” card for every target persona with profile of needs, benefits and motivations. Identify future changes in personas and scenarios to then guide the requirements prioritization and road-mapping process. Identify right target customers (segments) for market acceptance testing and define product acceptance criteria. Define product release plans considering competitive time-to-market dynamics. Practice efficient road-mapping with clear and actionable details for cross-functional alignment with unified portfolio and individual product level views. Leverage roadmaps as powerful competitive tools to drive customer confidence, product trial and adoption. © Copyright 2010, Adaptive Marketing | www.adaptivemarketing.in
- 7. Product positioning that communicates superior product capability to target key customer value drivers and to influence the customer's perception of the product and create unique associations. Identify direct v/s indirect sales for target product- markets. Design and manage channels to maximize market performance by delivering competitively superior solutions leveraging channel partner capabilities. Develop a marketing plan to drive product awareness creation and lead-generation. Identify and prioritize various activities with Sales & Marketing aligned for maximizing resources targeted at optimal market performance goals. Ensure all the necessary stakeholders/departments are fully ready before the launch actually begins. In the new world where everybody is trying to get your customer's attention learn how to truly engage with them. Practice managed and controlled customer acquisition within budgets prioritized by segment profitability and growth potential. Leverage next generation acquisition tools (web 2.0, social media marketing) to lead your customers to your offerings with “freemium” models to expedite customer trial-adoption-purchase cycle. Planning integrated market communications targeting superior segment focused product positioning. Design and management of effective routes-to-market by complementing direct sales with channel partners, to expand market coverage and to offer augmented offerings for higher customer value. Product Positioning Routes to Market Marketing Plan Launch Plan Customer Acquisition Is the customer value created by the product communicated powerfully to the customer? Are all external communications derived from product positioning and in-sync with internal messaging? How do you chose and prioritize between direct sales and channel sales? Is your competition able to create a greater value proposition leveraging channel capabilities? Does your marketing plan look like a never ending list of checklists? Do you have well defined objectives, activities and measurable metrics for your marketing activities? Was your launch plan built in a vacuum? Lots of action items but are they aligned with the real objectives? Are sales and marketing teams acquiring the right customers profitably? How to convert your prospects into paying customers? Go-To-Market © Copyright 2010, Adaptive Marketing | www.adaptivemarketing.in
- 8. Develop collaterals that resonate with the customer's problem statement and lead the customer to see the solution in your offering, tailored to suite the respective route to customers. Collaterals as value-communicators to preempt price based negotiations and balance buyer power against multiple suppliers. Efficient planning and execution of multi-dimensional campaigns (physical and online, traditional and social media), with effective call to action to increase lead conversion ratio. Explore what models work better the sales cycle for services, software as a service (SaaS), shrink wrap products etc. For multi-tier distribution of products its very critical to focus on channels. Creating sales tools and training programs for your channel might be different than your end customers. Explore the creation of case-studies, process templates for qualifying and converting leads, and special sales enabler tools to expedite closure. Understand the power of external forces like trade magazines, analysts, thought leaders, bloggers etc. who can influence customer behavior. Leverage the power of internet technologies, web 2.0, and social media marketing tools to develop your own center of excellence to influence technology adoption, to the target customers and create significant pull. Define effective customer out-reach strategies to leverage the potential of existing customers to drive revenue growth –up/cross selling, new product development. Create & evolve Customer Loyalty as a critical asset. Practice customer co-creation to refine the market analysis and future road-mapping to target adjacencies. Enhance business development and sales performance to achieve target market performance goals by effective execution of planned strategies. Collaterals and Sales Tools Lead Generation & Presales Channel & Sales Training Evangelism & Thought Leadership Customer Relationship Management Are your collaterals crisply conveying the right market problems to the right personas and describing your solutions in terms of benefits and not just features? Is sales and marketing in agreement with the quality of the generated leads? Can you limit product evaluation on the basis of customer conversion potential? Are your product managers and technical staff heavily involved in presales activities? Are your product demos too complicated for your channel partners to run independently? Whose voice is most important for your customers? Does the company have credibility with your prospects community through a non-sales face? Is referral and repurchase potential of your customers assessed and leveraged in market growth planning and execution? Do you have a cross- functional customer interface team? Sales Enablement © Copyright 2010, Adaptive Marketing | www.adaptivemarketing.in