On October 19th, IMP welcomed one of our honored guests - Mr Jimmy Yiu, the CEO of take! Martech - to participate in the third sharing session with our GMBA students.
From the first day of establishment, take! Martech has provided customers with a very unique concept of sample marketing, which is totally different from the normal traditional pie-shaped marketing method, by offering them the experience to interact with brands through free samples given to try out. The model is based on the smart vending machine, combining the crowd flow in the physical field and the physical product experience of the sample marketing with various digital marketing tools on the Internet platform to create an OMO (Offline Merges Online) that is "data-based, traceable, and re-marketable". Its main focus is to integrate marketing services, build brand and audience assets for various retail brands, and therefore create a new user experience and revenue model for venue operators. At the moment, take! Martech is putting a lot of effort into creating "Asia's largest virtual and real integrated effective marketing platform", starting with Taiwan.
Before take! Martech, Mr Jimmy Yiu has been a pioneer Internet entrepreneur for at least 26 years. He used to work as GM or CEO for different corporations such as Alibaba, Inforian, eDynamics, Tourtalk, and others. In the learning and discussion section, Mr Yiu has provided our students with a lot of useful advice about startups, which were mostly inspired from his own life story. In his point of view, the best business plan is the most simple one which focuses on two main things: to clarify your business idea and to spot potential problems. Second, organizations can introduce new digital products or services in highly uncertain circumstances by using the Lean Startup methodology. When it is difficult to comprehend the difficulties of potential clients or when it is unclear how new solutions to a problem should be constructed, high uncertainty might be produced. Last but not least, being aware of the importance of cash flow management. This will keep the company alive as long as possible.
(Written by GMBA student Nguyen Thi Thu Phuong (Faith))