Entry Level Digital Marketing: Mission 1 - Marketing Intro


Exercise 1: AirBnB Analysis

What problems does the company solve?

  • Price - Cheaper than hotel stays
  • Connection - Hotels have to serve many customers simultaneously
  • Availability - Not all places have hotels. E.g. rural towns
  • Local experiences - Hosts are able to package up local activities and knowledge

What's the market like?

  • Competition with temporary housing listings
  • Find the niche: Total trips booked --> budget and online --> AirBnB

Customers buy things:

  • To solve a problem
  • Because they’re “in the market” for it

Sell the pen!

Jordan Belfort's famous exercise to sell a pen is aimed at redirecting our thinking to understand the customer.

The models of selling we have imprinted in our minds is a slick, quick talking salesperson who highlights the features of the product and only asks questions at the end of his pitch.

The video suggests to reverse this method.

Ask the customer:

  • How long have they been looking for a pen?
  • What kinds of pens are they used to?
  • What problem have they encountered?
  • Did they just lose a pen or are they looking for something different?
  • What would they like to use the pen for?
  • How many pens are they interested in?
  • Have they used any of our pens before?
  • What have they heard of our pens that can help?

I feel like marketing can be a helpful tool in qualifying some of these questions. It can also weed out unwanted customers.

The Task: Create a Company

Company Name: LeftOvers What does it do? An AI-based tool that does your meal planning based on the ingredients you have left.