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Overview

There is no better validation of the relevance and value of an innovation than a customer's or stakeholder's willingness to pay for it! But, regardless of sector (corporate, government, not-for-profit), customers and stakeholders seldom provide financial or other resources without being asked. The success of any new idea depends in … For more content click the Read More button below. In the first half of the topic, the emphasis will be on low-cost, sales and value validation techniques; in the second half, the emphasis will shift to more deliberate planning, execution and evaluation. Throughout, students will try out their sales and marketing ideas on a small company that sells customized customised products online. Teams will compete for the most effective sales process! All profits made will be re-invested in the business or donated to a charity of the students' choice.

Aims

This topic combines established theory with current practice in a highly experiential setting. Students will apply a set of techniques for testing a value proposition and validating market demand. They will then build, implement and record the results of a sales and marketing plan for a small company. In the first half of the topic, the emphasis will be on low-cost, sales and value validation techniques; in the second half, the emphasis will shift to more deliberate planning, execution and evaluation. Throughout, students will be asked to learn the basics, design an element, try that element, evaluate the results - and repeat, thus reinforcing and refining theory through practice. Similarly, students will learn campaign management by planning, implementing, documenting and evaluating their efforts and results.

Learning outcomes

On completion of this topic you will be expected to be able to:
1.
Describe and use a number of specific sales and marketing techniques, both low-cost and more elaborate
2.
Articulate, and test, a compelling value proposition
3.
Design, implement and test a simple sales and marketing plan
4.
Measure in real time the effectiveness of entrepreneurial sales and marketing efforts

Requisites information

Pre-requisites:
Anti-requisites: