INNO9010 Early Wins Matter: Nothing Happens Without a Sale GE

2019

4.5

1 x 3-hour workshop weekly

INNO3005 has been successfully completed

None

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 no small, measure on the willingness and ability to ask for support, early and often, from resource providers, customers and allies alike. This topic concentrates on developing theoretically sound, evidence-based, and practice-honed techniques and processes for garnering political and financial support, from diverse customers and stakeholders, for new ideas, products or services. During this experiential topic, students will draw on theory and practice to articulate, try and refine (several times) a value proposition and a sales process for a small business, nonprofit or government program. new venture, whether for-profit or not-for-profit. Throughout, students will try out their sales and marketing ideas in practice and document effort and results.

This topic combines recent theory with current practice in a highly experiential setting. Students will read the latest literature, follow online sales and marketing blogs, learn and practice specific techniques (often with the help of practitioners), and build and try their own sales and marketing plan for a start-up or existing firm, government office or organisation. 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. They will also learn to plan, budget for, manage and evaluate sales and marketing campaigns.

On successful completion of this topic students should be able to:

• Describe and use a number of specific sales and marketing techniques, both low-cost and more elaborate.
• Articulate, and test, a compelling, evidence-based value proposition.
• Design and pitch a detailed sales and marketing plan.
• Design and apply a sales and marketing results evaluation process.
• Situate the entire sales and marketing process in relevant theory about customer choice, decision theory, salience, communications, and campaign management.
• Demonstrate mastery of concepts and techniques by applying them to the development and execution of a sales and marketing plan for a start-up or existing firm, governmental office or organisation.
• Measure and evaluate in real time the effectiveness of sales and marketing efforts.