-This synopsis will be 1-2 pages in length (max 2 pages) capturing what you have learned from cases during the session
-Case synopsis is not supposed to be a simple combination of all four cases. Students are supposed to synthesize the cases in a way that the synopsis could provide a comprehensive picture and deeper insights2

24749 Entrepreneurial Marketing Management 2020

Case 2: Technologies that Change Entrepreneurial Landscape

1. According to the source 1, Google Duplex demonstrated a seamless natural language understanding capability. In what area other than making reservations do you think this technology could be useful?

Answer:This technology can also be used in some public places for consulting services, replacing human labor and making it more convenient and efficient. For example, in a scenic spot with no ticket sales, this technology can perfectly answer the different needs of different customers and complete the content according to the instructions given. This technology has the flexibility and recognition of human beings, just like everyone’s personal assistant.

2. According to source 2a GPT 3 demonstrates an impressive capability based on its understanding of human language. However, it also has limitations, as shown in source 2b. What are these limitations?

Answer: When asked unrealistic questions, GPT-3 doesn’t say I don’t know, but waffles on the answers. Gpt-3 can answer some obscure questions, but it can’t be as flexible as human beings. In the face of unknown problems, it doesn’t say “I don’t know”, which is a kind of wrong guidance for users.

3. There are various human jobs. AI is predicted to replace many human jobs within the near future. What human jobs, other than building webpage, do you think the current version of GPT 3 could replace effectively? In what human jobs do you think GPT 3 will struggle most?

Answer: GPT-3 can effectively replace human computing work, some data collection work, and some answer-only work, for example, calculation and data both need accurate answers, these refined, systematic work can be entrusted to GPT-3. For GPT-3, jobs that require negotiation are a huge challenge, because negotiation requires not only skill but also flexibility.

4. Week 5’s lecture discusses various concepts and methodologies on PR. How do you think the technologies and devices shown in the sources above would change the manner PR would conducted in the future? Choose one of the following concepts from week 5 lecture and discuss how the chosen concept will be affected.

Answer: In the future, the above AI technology can be used to predict the value of the customer’s life cycle. The use of AI technology can effectively improve efficiency and reduce costs. When a startup sets foot in a new business model, it can seize new market opportunities and occupy market share. CLV depends on three factors: customer acquisition cost, annual interest rate that customers can generate for the enterprise, and the number of years that customers may purchase from the enterprise. Under AI technology, data acquisition will be expanded and analyzed. And through the acquisition of data analysis insights to quickly provide the corresponding services, analysis of the market situation. Predictive data can also be obtained and enterprise24749 Entrepreneurial Marketing Management 2020

Case 1: Life After Lockdown

Instruction: Watch the YouTube video link uploaded on assignment section in Canvas and answer each question based on the interview. 2 pages max.

1. According to the interview, how did Malcolm define entrepreneurship? What entrepreneurial quality do you think is particularly important during the COVID pandemic?

Answer :For Malcolm, entrepreneurship lies in being prepared to try, persisting and being human when doing something. What’s more, we are in an era of change, which means that entrepreneurs need to keep pace with the times, dynamically cater to the changes of the times, take advantage of the trend, rather than against it. Entrepreneurship is an important source of the core competitiveness of an enterprise. During the pandemic, these entrepreneurial qualities are particularly important: 1. Have an adventurous spirit. Due to the impact of the epidemic, the economy is in a state of depression. At this time, business operators must want to succeed. You must have an adventurous spirit, formulate corporate strategies suitable for the current environment, and develop new markets in accordance with the current market environment, and adjust commodity prices appropriately when necessary. 2. To be tolerant. When changing the previous business model, entrepreneurs need to be good at listening to the opinions of other employees and avoid being arbitrary. 3. Innovative spirit. In the current environment, mature entrepreneurs can discover new opportunities, create new business models, and open up new markets.

2. What businesses were mentioned as having extra difficulty during the pandemic? What businesses would you predict to boom during and after the pandemic?

Answer :During the pandemic, Australia’s tourism industry and the real economy were hit hard. Due to covid-19, part of Australia’s real economy went bankrupt due to lockdown and border closures. In my opinion,during and after the pandemic, communication services will flourish. For example, high-speed broadband provides extremely convenient video conferencing and company operations during the pandemic. A well-developed Internet, some devices and applications have helped some companies avoid failure due to lockdown during the pandemic. Moreover, during the pandemic, the food delivery and transportation industries dominated due to the inability to eat in restaurant, and people found more convenience in life, and this industry will also flourish.

3. Based on the interview with Malcolm and based on your own experience of pandemic, suggest one business (i.e., a product or service) that does not exist but maybe successful once developed and offered in the market. Describe what it would be, what problem it can solve, and who would be your target customers. Be creative and show your entrepreneurial spirit!

Answer :In my experience, since I am a person who does not know how to cook and pays attention to keeping2

24749 Entrepreneurial Marketing Management 2020

Case 3: Sales by AI and Trust in Technology

1. According to the article available in source 1, smart speakers are becoming more and more common and they will be an important vehicle for marketing. For example, Amazon Alexa could make instant product recommendations based on your need. Do you think smart speakers would be more powerful than traditional marketing activities (e.g., advertisement) in the future? Why or why not?

Answer: I think it will be more powerful, because it is now a digital age, and people are relying more and more on high technology. The traditional marketing model is aimed at all customer groups and promoted to everyone, whether he needs it or not. However, smart speakers will be customized to push only the products that customers may need, which greatly improves the efficiency of marketing. Instead of annoying people with overwhelming advertising, the precise recommendation of smart speakers will increase customers’ brand loyalty. More, compared with the traditional marketing model, this marketing model will save more money.

2. Based on your reading of the case 3 source 2 academic article “Artificial Intelligence and Persuasion,” provide 2-3 situations in which an AI’s persuasion would be as effective as a human’s persuasion.

3. According to the radio broadcast available in source 3, the host raises concerns regarding the trust in AI and persuasion by AI. How much do you trust AI? How much do you think people wil trust AI in the future? If there is any, what kind of problem would you predict regarding trusting in AI?

Answer: I have 85% trust in artificial intelligence, because I believe that no matter how intelligent the machine is, it is not as flexible and vivid as human beings. Moreover, the product is created by human beings. Although some scientific and technological algorithms have no problems, human beings can make mistakes, let alone machines created by human beings. In my opinion, with the improvement of technology in the future, artificial intelligence may be popularized more deeply. This will be a historical reform, which will comprehensively change social habits, and people will rely more on artificial intelligence. Artificial intelligence will make people lose their jobs. Besides, artificial intelligence cannot be flexible like human beings. If it is too human, it is afraid that artificial intelligence will completely replace human beings as the main body.

4. Week 6’s lecture discusses various concepts and methodologies on advertisement and promotion. How do you think the technologies and devices shown in the sources above would change the way advertising promotions are conducted. Freely choose one of the concepts discussed in week 6 lecture and discuss how the chosen concept will be affected.
Answer: Smart speakers can only play sound, and cannot give people the actual picture as a reference. In the study of Chapter 6, we learned that viral marDISTRIBUTION & CHANNEL DECISIONS

LECTURE 7

DISTRIBUTION & CHANNEL DECISIONS

AN EXAMPLE – ANKI

Anki

> In 2013, Tim Cook introduced Boris Sofman, CEO of Anki at the Apple World
Wide Developers Conference (video)

> Anki: a robotics and artificial intelligence company that had been operating
in stealth mode, launched its products on one of the world’s largest and
most visible stages.

> The product became one of the top-selling products in U.S.-based Apple
stores during the holiday season.

> How and why?

2

marin
Pencil

marin
Pencil

marin
Pencil

DISTRIBUTION & CHANNEL DECISIONS

AN EXAMPLE – ANKI

Anki

> Anki could not have paid to gain such tremendous exposure.

> The company earned the right to launch in such grand fashion by delivering
a compelling, sustainable advantage not only to its end users, but also to its
lead distributor.

> Anki’s value proposition consistent with Apple’s positioning
− reinforced Apple’s design-centric brand

− delivered a compelling customer experience

− increased traffic and sales in Apple stores

3

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

DISTRIBUTION & CHANNEL DECISIONS

DISTRIBUTION CHANNELS

> Distribution channels are the means by which you reach customers when
they are ready to buy.

> Effective channel strategies serve many objectives
− expanding your reach into the market

− build awareness

− reinforce your segmentation and differentiation

− provide opportunities for customers to evaluate and try your offering

− enhance the value proposition to customers

4

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

DISTRIBUTION & CHANNEL DECISIONS

BASIC FUNCTIONS OF A DISTRIBUTION SYSTEM

> Effective distribution delivers the right product or service to the end
customer at the right place at the right time in the right quantities.

> Three basic functions
− Reassortment/sorting:

Supplier (large quantities, small assortment)
=> Customer (small quantities, large assortment)

− Routinizing transactions:
standardize products and services and automate transactions

− Facilitating search:
easier for sellers to find buyers
easier for buyers to find their best purchase

5

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

DISTRIBUTION & CHANNEL DECISIONS

POSITIONING AND DISTRIBUTION DECISIONS

> As technology and the environment change, you must constantly review
your distribution options according to your positioning

> Understanding the target market segment your are trying to reach
− Your distribution channels should be the most efficient and effective way to

reach your target market among all other options

> The product-offering bundle thGENERATING, SCREENING, AND DEVELOPING
IDEAS WITH MARKETING INPUTS

LECTURE 3

GENERATING, SCREENING, AND DEVELOPING IDEAS

FINDING MORE RECEPTIVE BATTLEFIELDS

> The impact of product and market characteristics on the survival of
independent start-ups

Source: Hay, Verdin, and Williamson, “Successful New Ventures: Lessons for Entrepreneurs and Investors,” Long Range Planning 26
(5), 1993, 31-41

2

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

GENERATING, SCREENING, AND DEVELOPING IDEAS

FINDING MORE RECEPTIVE BATTLEFIELDS

> The impact of product and market characteristics on the survival of
corporate ventures

> Source: Hay, Verdin, and Williamson, “Successful New Ventures: Lessons for Entrepreneurs and Investors,” Long Range
Planning 26 (5), 1993, 31-41

3

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

GENERATING, SCREENING, AND DEVELOPING IDEAS

WAYS TO EVALUATE SPECIFIC VENTURE IDEAS

> After the positioning,

Do I have the right offering and positioning?

> Bring the product to market?

− Costly

− Not an efficient way to use resources

> Adaptive Testing

− Try options before committing to one

− Commit scarce resources in the best way possible

− Used in all aspects of marketing and marketing tactics

4

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

GENERATING, SCREENING, AND DEVELOPING IDEAS

WAYS TO EVALUATE SPECIFIC VENTURE IDEAS

5

Ways for adaptive testing:

Dry Tests, Crowdfunding, Concept Testing
(& A/B test)

142770
Pencil

142770
Pencil

142770
Typewriter
after you have an idea, before getting into large scale production
–> verify that your ideal will work and people will buy it.

GENERATING, SCREENING, AND DEVELOPING IDEAS

DRY TESTS

> A dry test:

− An order is asked for and a credit card number is obtained

− then inform that the product won’t be ready for a while, and the credit card is
not charged

− Offered some premium to thank buyers for their confidence

> Most valid way of getting real consumer demand without actually sell a
new product or service instantly

− Some ethical issues involved

− Negative feelings

− Negative public impacts (small scale though)

− Prematurely letting their competitors know their new product

6

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

GENERATING, SCREENING, AND DEVELOPING IDEAS

CROWDFUNDING

> Use online platforms (Kickstarter, indiegENTREPRENEURIAL PRICING

LECTURE 4

ENTREPRENEURIAL PRICING

AN EXAMPLE – WARBY PARKER

Neil Blumenthal, CEO and cofounder of Warby Parker presented to Professor
Jagmohan Raju, a pricing expert:

The value proposition was very stylish, hip, prescription glasses sold over
the Internet, with free try-ons of up to five different frames at home,
delivered with excellent customer service, and donation by the company of
one pair of glasses to a needy person for each pair purchased. The price
was $45 per pair of glasses. With his forecasted costs, the business would
be solidly profitable with that price (similar glasses at any neighborhood
optometrist would cost much more than $45).

2

ENTREPRENEURIAL PRICING

AN EXAMPLE – WARBY PARKER

Responses from Professor Raju, a pricing expert:

> First, the glasses would probably cost more to make and sell and deliver
than they forecasted.

> Second, the glasses might be too inexpensive, causing people to question
how good they could be at such a low price.

> Third, they could make a lot more money at higher prices.

> Finally, they should test alternative prices to see how they impact revenue
and consumer perception.

3

ENTREPRENEURIAL PRICING

AN EXAMPLE – WARBY PARKER

The team listened to Professor Raju and tested alternative prices.

The Results:
− A $95 price was actually more attractive than a $45 price because $45 was not

credible to many people

− Costs were actually higher than they forecasted, but the doubling of the
pricing gave them plenty of room to remain solidly profitable

− In 2015, Warby Parker have raised more than $115 million in venture capital
funding to fuel their rapid growth.

4

ENTREPRENEURIAL PRICING

PRICING – THE TRADITIONAL MODELS

> Pricing – most difficult marketing decision but probably the most important
one as well

> Managers use comfortable, precise rules for pricing:
− Markup rules

− Competitive matching rules

> Traditional “rules”
− Easy to make the pricing decision

− Leave lots of money on the table

5

ENTREPRENEURIAL PRICING

GETTING PRICE RIGHT EARLY

> Lower a price — no one will complain
Raise a price significantly — it is not fair!

> Important to have your initial price set at a very good level

> First customers want (and deserve) special pricing treatment !

> Prices should be structured as charter customer discounts or introductory
discounts from a regular price

> You may never charge the regular price !!!

> Ok, then how to do pricing?

> Value-Pricing Thermometer

6

ENTREPRENEURIAL PRICING

THE ESSENCE OF VALUE-BASED PRICING – VALUE-PRICING THERMOMETER

7

Adapted from “Principles of Pricing,” Robert J. Dolan, HBS 2009.

ENTREPRENEURIAL PRICING

PRICE CAN CHANGE PERCEIVED VALUE TOO

> Example: MINIVAC 601, priced at $79.95
Educational kit machines to help people understand how the binary logic and arithmetic of computers
worked

> Three target market segments
− Home hobbyists

− High schools and colleges

− PROMOTION, VIRAL MARKETING, AND
ADVERTISING FOR START-UP VENTURES

LECTURE 6

CHAPTER 5: PROMOTION AND VIRAL

MARKETING

PROMOTION, VIRAL MARKETING, AND ADVERTISING

AN EXAMPLE – THE COOLEST COOLER

Coolest Cooler
A Kickstarter campaign promoting a newly designed cooler

> The first time Ryan sought funding on Kickstarter in November 2013, the
campaign failed to raise the targeted $125,000.

− The video

> The second time in August 2014, the campaign was one of the most
successful Kickstarter campaigns ever, having raised more than
$13,000,000.

> Why?

3

PROMOTION, VIRAL MARKETING, AND ADVERTISING

AN EXAMPLE – THE COOLEST COOLER

Coolest Cooler
A Kickstarter campaign promoting a newly designed cooler

> August vs. November
− Supporters were more receptive to a summer “fun” product in August

> The second video
− demonstrated the product

− communicated the benefits: all about fun—a “party in a box”

− connected with the target audience

> Simple viral tools used in the second video
− to encourage supporters of the product to spread the word

4

marin
Typewriter
Word of mouth, WOM

PROMOTION, VIRAL MARKETING, AND ADVERTISING

METHODS FOR PROMOTING PRODUCTS AND ENGAGING CUSTOMERS

> These promotions should be tested and adapted to focus more resources
on those that yield the best results— adaptive testing and experimentation

5

PROMOTION, VIRAL MARKETING, AND ADVERTISING

GIVE IT AWAY

> Netscape Navigator
− freely downloadable for non-profit users

− 90-day free trials for other personal or corporate use

> The strategy – aiming virality!
− College students  Professors  industry and the press!

> Profits?
− Monetize the user: space on the user’s desktop  revenue

selling advertising and other items on their home page

− Netscape’s winning position  Internet servers business

What has happened next?

6

PROMOTION, VIRAL MARKETING, AND ADVERTISING

GIVE IT AWAY

The Internet browser story

> MS Internet Explorer – completely free

> Netscape – completely free

> Mozilla – a spin-off foundation from Netscape: Firefox, free!

> Google Chrome – free!

How do they make money now?
Directing searches to providers (Google, Bing, and Ask, among others)

7

PROMOTION, VIRAL MARKETING, AND ADVERTISING

GIVE IT AWAY

When can “free” work?

CLV = M × L − CAC

M x L >> CAC !!

> e.g., “Free” Gmail service with 15G free space
− Ads being shown

− searches coming from mail

− more than paying for the costs of providing the service

> The key is
− the ability to generate revenue through another means

− ad, paid account, data, cross selling, etc.

8

PROMOTION, VIRAL MARKETING, AND ADVERTISING

GIVE IT AWAY

When can “free” work?

CLV = M × L − CAC

M x L >> CAC !!

> e.g., “Free” Gmail service with 15G free space
− Ads being shown

− searches coming from mail

− more than paying for the costs of providing the service

> The key is
− the ability to generate revenue through another PUBLIC RELATIONS FOR START-UP
VENTURES

LECTURE 5

marin
Pencil

marin
Pencil

SECTION TWO: DEMAND-GENERATION AND SALES

AN INTRODUCTION

> Marketing strategy, positioning, and targeting establish the goals and objectives

> Marketing activities attract the largest number of customers and purchases in a
cost-effective manner – Demand-generation

> Fundamental premise of entrepreneurial marketing
− Direct scarce resources to the most effective marketing activities that yield the greatest

results and secure customers for a long period of time

− Both the short-term survival and long-term development

> How?

2

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

SECTION TWO: DEMAND-GENERATION AND SALES

AN INTRODUCTION

> Customer lifetime value (CLV) is the total revenue contributed to your venture by a
customer over the length of their relationship with your venture.

> CLV is dependent upon three factors:
− Customer acquisition cost (CAC), the total cost to secure that customer

− Annual profits a customer generates for your venture (M)

− Number of years the customer is likely to purchase from your venture (L)

> The most simplistic form:

CLV = M × L − CAC

3

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

SECTION TWO: DEMAND-GENERATION AND SALES

AN INTRODUCTION

CLV = M × L − CAC

> The entrepreneurial marketer must consider each marketing activity in terms of its
ability to reach customers with the highest CLV at the lowest CAC to capture the
greatest value for your venture

> The most effective way is to map the adoption process on the way to the customer
actually making a purchase.

− The movement of information, influence, goods and services, benefits and value, and
money

> Each marketing activity should have a positive effect, moving your customer closer
to purchase

4

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

SECTION TWO: DEMAND-GENERATION AND SALES

AN INTRODUCTION

5

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

SECTION TWO: DEMAND-GENERATION AND SALES

AN INTRODUCTION

> Entrepreneurial marketers must ensure that every marketing tactic has a
clear sense of:

− Audience — The target profile of prospects

− Objective — The goal that will allow the right prospects and customers to move
on to the next phase

− CalGENERATING, SCREENING, AND DEVELOPING
IDEAS WITH MARKETING INPUTS

LECTURE 3

GENERATING, SCREENING, AND DEVELOPING IDEAS

FINDING MORE RECEPTIVE BATTLEFIELDS

> The impact of product and market characteristics on the survival of
independent start-ups

Source: Hay, Verdin, and Williamson, “Successful New Ventures: Lessons for Entrepreneurs and Investors,” Long Range Planning 26
(5), 1993, 31-41

2

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

GENERATING, SCREENING, AND DEVELOPING IDEAS

FINDING MORE RECEPTIVE BATTLEFIELDS

> The impact of product and market characteristics on the survival of
corporate ventures

> Source: Hay, Verdin, and Williamson, “Successful New Ventures: Lessons for Entrepreneurs and Investors,” Long Range
Planning 26 (5), 1993, 31-41

3

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

GENERATING, SCREENING, AND DEVELOPING IDEAS

WAYS TO EVALUATE SPECIFIC VENTURE IDEAS

> After the positioning,

Do I have the right offering and positioning?

> Bring the product to market?

− Costly

− Not an efficient way to use resources

> Adaptive Testing

− Try options before committing to one

− Commit scarce resources in the best way possible

− Used in all aspects of marketing and marketing tactics

4

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

GENERATING, SCREENING, AND DEVELOPING IDEAS

WAYS TO EVALUATE SPECIFIC VENTURE IDEAS

5

Ways for adaptive testing:

Dry Tests, Crowdfunding, Concept Testing
(& A/B test)

142770
Pencil

142770
Pencil

142770
Typewriter
after you have an idea, before getting into large scale production
–> verify that your ideal will work and people will buy it.

GENERATING, SCREENING, AND DEVELOPING IDEAS

DRY TESTS

> A dry test:

− An order is asked for and a credit card number is obtained

− then inform that the product won’t be ready for a while, and the credit card is
not charged

− Offered some premium to thank buyers for their confidence

> Most valid way of getting real consumer demand without actually sell a
new product or service instantly

− Some ethical issues involved

− Negative feelings

− Negative public impacts (small scale though)

− Prematurely letting their competitors know their new product

6

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

GENERATING, SCREENING, AND DEVELOPING IDEAS

CROWDFUNDING

> Use online platforms (Kickstarter, indiegDISTRIBUTION & CHANNEL DECISIONS

LECTURE 7

DISTRIBUTION & CHANNEL DECISIONS

AN EXAMPLE – ANKI

Anki

> In 2013, Tim Cook introduced Boris Sofman, CEO of Anki at the Apple World
Wide Developers Conference (video)

> Anki: a robotics and artificial intelligence company that had been operating
in stealth mode, launched its products on one of the world’s largest and
most visible stages.

> The product became one of the top-selling products in U.S.-based Apple
stores during the holiday season.

> How and why?

2

marin
Pencil

marin
Pencil

marin
Pencil

DISTRIBUTION & CHANNEL DECISIONS

AN EXAMPLE – ANKI

Anki

> Anki could not have paid to gain such tremendous exposure.

> The company earned the right to launch in such grand fashion by delivering
a compelling, sustainable advantage not only to its end users, but also to its
lead distributor.

> Anki’s value proposition consistent with Apple’s positioning
− reinforced Apple’s design-centric brand

− delivered a compelling customer experience

− increased traffic and sales in Apple stores

3

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

DISTRIBUTION & CHANNEL DECISIONS

DISTRIBUTION CHANNELS

> Distribution channels are the means by which you reach customers when
they are ready to buy.

> Effective channel strategies serve many objectives
− expanding your reach into the market

− build awareness

− reinforce your segmentation and differentiation

− provide opportunities for customers to evaluate and try your offering

− enhance the value proposition to customers

4

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

DISTRIBUTION & CHANNEL DECISIONS

BASIC FUNCTIONS OF A DISTRIBUTION SYSTEM

> Effective distribution delivers the right product or service to the end
customer at the right place at the right time in the right quantities.

> Three basic functions
− Reassortment/sorting:

Supplier (large quantities, small assortment)
=> Customer (small quantities, large assortment)

− Routinizing transactions:
standardize products and services and automate transactions

− Facilitating search:
easier for sellers to find buyers
easier for buyers to find their best purchase

5

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

DISTRIBUTION & CHANNEL DECISIONS

POSITIONING AND DISTRIBUTION DECISIONS

> As technology and the environment change, you must constantly review
your distribution options according to your positioning

> Understanding the target market segment your are trying to reach
− Your distribution channels should be the most efficient and effective way to

reach your target market among all other options

> The product-offering bundle thENTREPRENEURIAL PRICING

LECTURE 4

ENTREPRENEURIAL PRICING

AN EXAMPLE – WARBY PARKER

Neil Blumenthal, CEO and cofounder of Warby Parker presented to Professor
Jagmohan Raju, a pricing expert:

The value proposition was very stylish, hip, prescription glasses sold over
the Internet, with free try-ons of up to five different frames at home,
delivered with excellent customer service, and donation by the company of
one pair of glasses to a needy person for each pair purchased. The price
was $45 per pair of glasses. With his forecasted costs, the business would
be solidly profitable with that price (similar glasses at any neighborhood
optometrist would cost much more than $45).

2

ENTREPRENEURIAL PRICING

AN EXAMPLE – WARBY PARKER

Responses from Professor Raju, a pricing expert:

> First, the glasses would probably cost more to make and sell and deliver
than they forecasted.

> Second, the glasses might be too inexpensive, causing people to question
how good they could be at such a low price.

> Third, they could make a lot more money at higher prices.

> Finally, they should test alternative prices to see how they impact revenue
and consumer perception.

3

ENTREPRENEURIAL PRICING

AN EXAMPLE – WARBY PARKER

The team listened to Professor Raju and tested alternative prices.

The Results:
− A $95 price was actually more attractive than a $45 price because $45 was not

credible to many people

− Costs were actually higher than they forecasted, but the doubling of the
pricing gave them plenty of room to remain solidly profitable

− In 2015, Warby Parker have raised more than $115 million in venture capital
funding to fuel their rapid growth.

4

ENTREPRENEURIAL PRICING

PRICING – THE TRADITIONAL MODELS

> Pricing – most difficult marketing decision but probably the most important
one as well

> Managers use comfortable, precise rules for pricing:
− Markup rules

− Competitive matching rules

> Traditional “rules”
− Easy to make the pricing decision

− Leave lots of money on the table

5

ENTREPRENEURIAL PRICING

GETTING PRICE RIGHT EARLY

> Lower a price — no one will complain
Raise a price significantly — it is not fair!

> Important to have your initial price set at a very good level

> First customers want (and deserve) special pricing treatment !

> Prices should be structured as charter customer discounts or introductory
discounts from a regular price

> You may never charge the regular price !!!

> Ok, then how to do pricing?

> Value-Pricing Thermometer

6

ENTREPRENEURIAL PRICING

THE ESSENCE OF VALUE-BASED PRICING – VALUE-PRICING THERMOMETER

7

Adapted from “Principles of Pricing,” Robert J. Dolan, HBS 2009.

ENTREPRENEURIAL PRICING

PRICE CAN CHANGE PERCEIVED VALUE TOO

> Example: MINIVAC 601, priced at $79.95
Educational kit machines to help people understand how the binary logic and arithmetic of computers
worked

> Three target market segments
− Home hobbyists

− High schools and colleges

− PROMOTION, VIRAL MARKETING, AND
ADVERTISING FOR START-UP VENTURES

LECTURE 6

CHAPTER 5: PROMOTION AND VIRAL

MARKETING

PROMOTION, VIRAL MARKETING, AND ADVERTISING

AN EXAMPLE – THE COOLEST COOLER

Coolest Cooler
A Kickstarter campaign promoting a newly designed cooler

> The first time Ryan sought funding on Kickstarter in November 2013, the
campaign failed to raise the targeted $125,000.

− The video

> The second time in August 2014, the campaign was one of the most
successful Kickstarter campaigns ever, having raised more than
$13,000,000.

> Why?

3

PROMOTION, VIRAL MARKETING, AND ADVERTISING

AN EXAMPLE – THE COOLEST COOLER

Coolest Cooler
A Kickstarter campaign promoting a newly designed cooler

> August vs. November
− Supporters were more receptive to a summer “fun” product in August

> The second video
− demonstrated the product

− communicated the benefits: all about fun—a “party in a box”

− connected with the target audience

> Simple viral tools used in the second video
− to encourage supporters of the product to spread the word

4

marin
Typewriter
Word of mouth, WOM

PROMOTION, VIRAL MARKETING, AND ADVERTISING

METHODS FOR PROMOTING PRODUCTS AND ENGAGING CUSTOMERS

> These promotions should be tested and adapted to focus more resources
on those that yield the best results— adaptive testing and experimentation

5

PROMOTION, VIRAL MARKETING, AND ADVERTISING

GIVE IT AWAY

> Netscape Navigator
− freely downloadable for non-profit users

− 90-day free trials for other personal or corporate use

> The strategy – aiming virality!
− College students  Professors  industry and the press!

> Profits?
− Monetize the user: space on the user’s desktop  revenue

selling advertising and other items on their home page

− Netscape’s winning position  Internet servers business

What has happened next?

6

PROMOTION, VIRAL MARKETING, AND ADVERTISING

GIVE IT AWAY

The Internet browser story

> MS Internet Explorer – completely free

> Netscape – completely free

> Mozilla – a spin-off foundation from Netscape: Firefox, free!

> Google Chrome – free!

How do they make money now?
Directing searches to providers (Google, Bing, and Ask, among others)

7

PROMOTION, VIRAL MARKETING, AND ADVERTISING

GIVE IT AWAY

When can “free” work?

CLV = M × L − CAC

M x L >> CAC !!

> e.g., “Free” Gmail service with 15G free space
− Ads being shown

− searches coming from mail

− more than paying for the costs of providing the service

> The key is
− the ability to generate revenue through another means

− ad, paid account, data, cross selling, etc.

8

PROMOTION, VIRAL MARKETING, AND ADVERTISING

GIVE IT AWAY

When can “free” work?

CLV = M × L − CAC

M x L >> CAC !!

> e.g., “Free” Gmail service with 15G free space
− Ads being shown

− searches coming from mail

− more than paying for the costs of providing the service

> The key is
− the ability to generate revenue through another GENERATING, SCREENING, AND DEVELOPING
IDEAS WITH MARKETING INPUTS

LECTURE 3

GENERATING, SCREENING, AND DEVELOPING IDEAS

FINDING MORE RECEPTIVE BATTLEFIELDS

> The impact of product and market characteristics on the survival of
independent start-ups

Source: Hay, Verdin, and Williamson, “Successful New Ventures: Lessons for Entrepreneurs and Investors,” Long Range Planning 26
(5), 1993, 31-41

2

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

GENERATING, SCREENING, AND DEVELOPING IDEAS

FINDING MORE RECEPTIVE BATTLEFIELDS

> The impact of product and market characteristics on the survival of
corporate ventures

> Source: Hay, Verdin, and Williamson, “Successful New Ventures: Lessons for Entrepreneurs and Investors,” Long Range
Planning 26 (5), 1993, 31-41

3

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

GENERATING, SCREENING, AND DEVELOPING IDEAS

WAYS TO EVALUATE SPECIFIC VENTURE IDEAS

> After the positioning,

Do I have the right offering and positioning?

> Bring the product to market?

− Costly

− Not an efficient way to use resources

> Adaptive Testing

− Try options before committing to one

− Commit scarce resources in the best way possible

− Used in all aspects of marketing and marketing tactics

4

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

GENERATING, SCREENING, AND DEVELOPING IDEAS

WAYS TO EVALUATE SPECIFIC VENTURE IDEAS

5

Ways for adaptive testing:

Dry Tests, Crowdfunding, Concept Testing
(& A/B test)

142770
Pencil

142770
Pencil

142770
Typewriter
after you have an idea, before getting into large scale production
–> verify that your ideal will work and people will buy it.

GENERATING, SCREENING, AND DEVELOPING IDEAS

DRY TESTS

> A dry test:

− An order is asked for and a credit card number is obtained

− then inform that the product won’t be ready for a while, and the credit card is
not charged

− Offered some premium to thank buyers for their confidence

> Most valid way of getting real consumer demand without actually sell a
new product or service instantly

− Some ethical issues involved

− Negative feelings

− Negative public impacts (small scale though)

− Prematurely letting their competitors know their new product

6

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

142770
Pencil

GENERATING, SCREENING, AND DEVELOPING IDEAS

CROWDFUNDING

> Use online platforms (Kickstarter, indieg2

24749 Entrepreneurial Marketing Management 2020

Case 4: Impact of Robots on Entrepreneurial Landscape

Instruction: use the sources and answer each question (2 pages writing max, not including the questions)

1. In the near future, we will see various robots helping us with diverse tasks, such as cooking, shopping, exercise, social companion, nursing etc. Somalia problem in source 1 raises an important issue regarding the design of robots decision priority. What do you think about your robot prioritizing the common well being of humans over your interest? If robots prioritize the interest of it owner (i.e., you), to what extent do you think it could put your interest over others? Why?

Answer: I think the role of robots in human society is to improve and help humans live better. When the owner spends money to buy a robot, I believe that the owner’s benefit should be greater than the common well-being of human beings. As mentioned in the video, the robot was ordered to complete a lunch, but the robot even said that someone in Somalia starved to death and chose not to execute the instruction. The robot purchased by the user does not meet the needs of the owner, and such a user experience is not good. But on the contrary, if the robot obeys the owner in everything, there will be some anti-social incidents, which is also a bad trend. So in general, I think that since the owner has purchased the robot, the robot must provide services to the owner within the scope of compliance. In the service of robots, priority is given to the owner to create market value. After all, the purchase of robots by humans is a utilitarian demand. If the robots cannot provide services, consumers will not choose to buy.

2. As you see in the source 2, Japan is one of the leading countries in robotics. An interesting example includes a fully automated robot hotel and that was 5 years ago! Choose another “service” industry (not manufacturing business) that you think could be fully automated with robots. Provide your rationale. Then, choose one or two robots from

http://abotdatabase.info/

and explain why you chose the specific robot(s).

Answer: In public hospitals, some patients are not accompanied by their family members and look for doctors everywhere because they do not understand the structure of the hospital, especially some elderly people. If they walk around in the hospital for a long time, it will increase their physical burden. In this way, a MURATA GIRL is arranged in the hospital as a one-to-one guidance robot to guide the patient to the right place. The reason why I chose MURATA GIRL is because the robot has a cute appearance and gives people a very sunny feeling, and the spinning wheelbarrow used for walking is very convenient to operate. It can also idle and stop, and uses super magic waves to make any objects. Respond, keeping the object following at a preset distance These functions greatly reduce the workload of the hospital.

3. BaseENTREPRENEURIAL PRICING

LECTURE 4

ENTREPRENEURIAL PRICING

AN EXAMPLE – WARBY PARKER

Neil Blumenthal, CEO and cofounder of Warby Parker presented to Professor
Jagmohan Raju, a pricing expert:

The value proposition was very stylish, hip, prescription glasses sold over
the Internet, with free try-ons of up to five different frames at home,
delivered with excellent customer service, and donation by the company of
one pair of glasses to a needy person for each pair purchased. The price
was $45 per pair of glasses. With his forecasted costs, the business would
be solidly profitable with that price (similar glasses at any neighborhood
optometrist would cost much more than $45).

2

ENTREPRENEURIAL PRICING

AN EXAMPLE – WARBY PARKER

Responses from Professor Raju, a pricing expert:

> First, the glasses would probably cost more to make and sell and deliver
than they forecasted.

> Second, the glasses might be too inexpensive, causing people to question
how good they could be at such a low price.

> Third, they could make a lot more money at higher prices.

> Finally, they should test alternative prices to see how they impact revenue
and consumer perception.

3

ENTREPRENEURIAL PRICING

AN EXAMPLE – WARBY PARKER

The team listened to Professor Raju and tested alternative prices.

The Results:
− A $95 price was actually more attractive than a $45 price because $45 was not

credible to many people

− Costs were actually higher than they forecasted, but the doubling of the
pricing gave them plenty of room to remain solidly profitable

− In 2015, Warby Parker have raised more than $115 million in venture capital
funding to fuel their rapid growth.

4

ENTREPRENEURIAL PRICING

PRICING – THE TRADITIONAL MODELS

> Pricing – most difficult marketing decision but probably the most important
one as well

> Managers use comfortable, precise rules for pricing:
− Markup rules

− Competitive matching rules

> Traditional “rules”
− Easy to make the pricing decision

− Leave lots of money on the table

5

ENTREPRENEURIAL PRICING

GETTING PRICE RIGHT EARLY

> Lower a price — no one will complain
Raise a price significantly — it is not fair!

> Important to have your initial price set at a very good level

> First customers want (and deserve) special pricing treatment !

> Prices should be structured as charter customer discounts or introductory
discounts from a regular price

> You may never charge the regular price !!!

> Ok, then how to do pricing?

> Value-Pricing Thermometer

6

ENTREPRENEURIAL PRICING

THE ESSENCE OF VALUE-BASED PRICING – VALUE-PRICING THERMOMETER

7

Adapted from “Principles of Pricing,” Robert J. Dolan, HBS 2009.

ENTREPRENEURIAL PRICING

PRICE CAN CHANGE PERCEIVED VALUE TOO

> Example: MINIVAC 601, priced at $79.95
Educational kit machines to help people understand how the binary logic and arithmetic of computers
worked

> Three target market segments
− Home hobbyists

− High schools and colleges

− PUBLIC RELATIONS FOR START-UP
VENTURES

LECTURE 5

marin
Pencil

marin
Pencil

SECTION TWO: DEMAND-GENERATION AND SALES

AN INTRODUCTION

> Marketing strategy, positioning, and targeting establish the goals and objectives

> Marketing activities attract the largest number of customers and purchases in a
cost-effective manner – Demand-generation

> Fundamental premise of entrepreneurial marketing
− Direct scarce resources to the most effective marketing activities that yield the greatest

results and secure customers for a long period of time

− Both the short-term survival and long-term development

> How?

2

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

SECTION TWO: DEMAND-GENERATION AND SALES

AN INTRODUCTION

> Customer lifetime value (CLV) is the total revenue contributed to your venture by a
customer over the length of their relationship with your venture.

> CLV is dependent upon three factors:
− Customer acquisition cost (CAC), the total cost to secure that customer

− Annual profits a customer generates for your venture (M)

− Number of years the customer is likely to purchase from your venture (L)

> The most simplistic form:

CLV = M × L − CAC

3

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

SECTION TWO: DEMAND-GENERATION AND SALES

AN INTRODUCTION

CLV = M × L − CAC

> The entrepreneurial marketer must consider each marketing activity in terms of its
ability to reach customers with the highest CLV at the lowest CAC to capture the
greatest value for your venture

> The most effective way is to map the adoption process on the way to the customer
actually making a purchase.

− The movement of information, influence, goods and services, benefits and value, and
money

> Each marketing activity should have a positive effect, moving your customer closer
to purchase

4

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

SECTION TWO: DEMAND-GENERATION AND SALES

AN INTRODUCTION

5

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

SECTION TWO: DEMAND-GENERATION AND SALES

AN INTRODUCTION

> Entrepreneurial marketers must ensure that every marketing tactic has a
clear sense of:

− Audience — The target profile of prospects

− Objective — The goal that will allow the right prospects and customers to move
on to the next phase

− CalDISTRIBUTION & CHANNEL DECISIONS

LECTURE 7

DISTRIBUTION & CHANNEL DECISIONS

AN EXAMPLE – ANKI

Anki

> In 2013, Tim Cook introduced Boris Sofman, CEO of Anki at the Apple World
Wide Developers Conference (video)

> Anki: a robotics and artificial intelligence company that had been operating
in stealth mode, launched its products on one of the world’s largest and
most visible stages.

> The product became one of the top-selling products in U.S.-based Apple
stores during the holiday season.

> How and why?

2

marin
Pencil

marin
Pencil

marin
Pencil

DISTRIBUTION & CHANNEL DECISIONS

AN EXAMPLE – ANKI

Anki

> Anki could not have paid to gain such tremendous exposure.

> The company earned the right to launch in such grand fashion by delivering
a compelling, sustainable advantage not only to its end users, but also to its
lead distributor.

> Anki’s value proposition consistent with Apple’s positioning
− reinforced Apple’s design-centric brand

− delivered a compelling customer experience

− increased traffic and sales in Apple stores

3

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

DISTRIBUTION & CHANNEL DECISIONS

DISTRIBUTION CHANNELS

> Distribution channels are the means by which you reach customers when
they are ready to buy.

> Effective channel strategies serve many objectives
− expanding your reach into the market

− build awareness

− reinforce your segmentation and differentiation

− provide opportunities for customers to evaluate and try your offering

− enhance the value proposition to customers

4

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

DISTRIBUTION & CHANNEL DECISIONS

BASIC FUNCTIONS OF A DISTRIBUTION SYSTEM

> Effective distribution delivers the right product or service to the end
customer at the right place at the right time in the right quantities.

> Three basic functions
− Reassortment/sorting:

Supplier (large quantities, small assortment)
=> Customer (small quantities, large assortment)

− Routinizing transactions:
standardize products and services and automate transactions

− Facilitating search:
easier for sellers to find buyers
easier for buyers to find their best purchase

5

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

marin
Pencil

DISTRIBUTION & CHANNEL DECISIONS

POSITIONING AND DISTRIBUTION DECISIONS

> As technology and the environment change, you must constantly review
your distribution options according to your positioning

> Understanding the target market segment your are trying to reach
− Your distribution channels should be the most efficient and effective way to

reach your target market among all other options

> The product-offering bundle thPROMOTION, VIRAL MARKETING, AND
ADVERTISING FOR START-UP VENTURES

LECTURE 6

CHAPTER 5: PROMOTION AND VIRAL

MARKETING

PROMOTION, VIRAL MARKETING, AND ADVERTISING

AN EXAMPLE – THE COOLEST COOLER

Coolest Cooler
A Kickstarter campaign promoting a newly designed cooler

> The first time Ryan sought funding on Kickstarter in November 2013, the
campaign failed to raise the targeted $125,000.

− The video

> The second time in August 2014, the campaign was one of the most
successful Kickstarter campaigns ever, having raised more than
$13,000,000.

> Why?

3

PROMOTION, VIRAL MARKETING, AND ADVERTISING

AN EXAMPLE – THE COOLEST COOLER

Coolest Cooler
A Kickstarter campaign promoting a newly designed cooler

> August vs. November
− Supporters were more receptive to a summer “fun” product in August

> The second video
− demonstrated the product

− communicated the benefits: all about fun—a “party in a box”

− connected with the target audience

> Simple viral tools used in the second video
− to encourage supporters of the product to spread the word

4

marin
Typewriter
Word of mouth, WOM

PROMOTION, VIRAL MARKETING, AND ADVERTISING

METHODS FOR PROMOTING PRODUCTS AND ENGAGING CUSTOMERS

> These promotions should be tested and adapted to focus more resources
on those that yield the best results— adaptive testing and experimentation

5

PROMOTION, VIRAL MARKETING, AND ADVERTISING

GIVE IT AWAY

> Netscape Navigator
− freely downloadable for non-profit users

− 90-day free trials for other personal or corporate use

> The strategy – aiming virality!
− College students  Professors  industry and the press!

> Profits?
− Monetize the user: space on the user’s desktop  revenue

selling advertising and other items on their home page

− Netscape’s winning position  Internet servers business

What has happened next?

6

PROMOTION, VIRAL MARKETING, AND ADVERTISING

GIVE IT AWAY

The Internet browser story

> MS Internet Explorer – completely free

> Netscape – completely free

> Mozilla – a spin-off foundation from Netscape: Firefox, free!

> Google Chrome – free!

How do they make money now?
Directing searches to providers (Google, Bing, and Ask, among others)

7

PROMOTION, VIRAL MARKETING, AND ADVERTISING

GIVE IT AWAY

When can “free” work?

CLV = M × L − CAC

M x L >> CAC !!

> e.g., “Free” Gmail service with 15G free space
− Ads being shown

− searches coming from mail

− more than paying for the costs of providing the service

> The key is
− the ability to generate revenue through another means

− ad, paid account, data, cross selling, etc.

8

PROMOTION, VIRAL MARKETING, AND ADVERTISING

GIVE IT AWAY

When can “free” work?

CLV = M × L − CAC

M x L >> CAC !!

> e.g., “Free” Gmail service with 15G free space
− Ads being shown

− searches coming from mail

− more than paying for the costs of providing the service

> The key is
− the ability to generate revenue through another




Why Choose Us

  • 100% non-plagiarized Papers
  • 24/7 /365 Service Available
  • Affordable Prices
  • Any Paper, Urgency, and Subject
  • Will complete your papers in 6 hours
  • On-time Delivery
  • Money-back and Privacy guarantees
  • Unlimited Amendments upon request
  • Satisfaction guarantee

How it Works

  • Click on the “Place Order” tab at the top menu or “Order Now” icon at the bottom and a new page will appear with an order form to be filled.
  • Fill in your paper’s requirements in the "PAPER DETAILS" section.
  • Fill in your paper’s academic level, deadline, and the required number of pages from the drop-down menus.
  • Click “CREATE ACCOUNT & SIGN IN” to enter your registration details and get an account with us for record-keeping and then, click on “PROCEED TO CHECKOUT” at the bottom of the page.
  • From there, the payment sections will show, follow the guided payment process and your order will be available for our writing team to work on it.