From the course: 17 Questions to Help Improve Your Marketing
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Why?
- The Five Whys is an incredibly popular problem solving technique. You may even already be using it. It was developed by Sakichi Toyoda whose son went on to establish the Toyota Automotive Company. Now outside of problems, this technique can have a profound impact on how we understand marketing and how are decisions get made. So as you look to further deepen your understanding of marketing, look at each decision, each data point, each concept, and answer the question why and then answer it again four more times. Let's put this into perspective. Let's say I sell an insulated waterbottle and I want to understand my competition, which is Yeti. I put myself in the shoes of consumer who has just purchased this mug and I start asking questions. Why? Well everyone I know has one. Why? The brand has a cult-following. Why? Because their consumers are brand advocates. Why? Because the product lives up to…
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What is your value proposition?1m 32s
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Who is your target market?2m 22s
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What buyer personas are you using?1m 16s
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Who is your competition?1m 7s
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What is your objective?1m 57s
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What are your most important metrics?1m 30s
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What messaging assumptions have you made?1m 6s
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What are your touchpoints?1m 32s
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What are your priorities?2m 9s
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What do you want to accomplish?1m 1s
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What stage is your business in?1m 54s
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What is your Net Promoter Score?1m 58s
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Where will growth come from?1m 32s
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What is your budget?1m 32s
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What's your price image?1m 27s
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How are you addressing privacy concerns?1m 12s
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Why?1m 10s
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