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Marketing Principles in Commercialization of High Technology Session 1 Persuasion and Marketing Session 1 Objectives Describe the roles of marketing in the commercialization process

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session 1 objectives
Session 1 Objectives
  • Describe the roles of marketing in the commercialization process
  • Describe the relationship between Jolly’s concepts of mobilization and the five subprocesses of commercialization
  • Develop a persuasive proposal that incorporates an understanding of the buying process, the persuasion process, needs, and features.
  • Compare and contrast the elements of a marketing plan vs. a persuasive proposal.
  • Describe the relationship between corporate mission and strategy and a marketing plan.
the marketing plan

I. Executive Summary

II. Marketing Situation Analysis

III. Opportunity and Issue Analysis

IV. Objectives

V. Marketing Strategy

VI. Action Programs

VII. Projected Profit-and-Loss

VIII. Controls

The Marketing Plan*

*Year 1 of a 3-year strategic plan

slide4

Customers

  • Competitors
  • Collaborators
  • Company
  • Context/Macroenvironment

5

C’s

slide5

Segmentation

S

T

P

Targeting

Positioning

slide6

Product

Price

Place

Promotion

4

P’s

Marketing Mix

traditional view of marketing
Traditional View of Marketing
  • Helpful
  • Limiting
    • Customer “pull” vs. Technology “push”
traditional view of marketing8
Traditional View of Marketing
  • Helpful
  • Limiting
    • Customer “pull” vs. Technology “push”
    • Doesn’t address communication and persuasion during the “bridging/ mobilization” stages of technology commercialization.
slide9

The Process of Technology Commercialization

Subprocesses1

Building the Value of a New Technology

3.

Incubate

to define commer-

cializability

5.

Demonstrate

contextually

in

products

and

processes

7.

Promote

adoption

9.

Sustain commercial-ization

1.

Imagine

the dual

(techno-market)

insight

2.

Mobilize Interest

and endorse-ment

4.

Mobilize resource

for

Demo

6.

Mobilize market consti-tuents

8.

Mobilize

complimen-tary assets for delivery

Source: Jolly, Vijay. From Mind to Market, 1997

the bridging subprocesses
The Bridging Subprocesses
  • Critical activities are:
    • Reaching out
    • Interesting others
    • Influencing stakeholders and customers
  • Early bridges deal more with technology transfer
  • Later bridges deal with more explicitly with sales and distribution activities
  • One constant in each stage is marketing

Bridges: Satisfying and Mobilizing Stakeholders at Each Stage (2, 4, 6, 8)

bridge the stages
Bridge the Stages

Advocacy activities . . .

  • Mobilize interest of stakeholders
  • Mobilize resources to continue the commercialization process
  • Mobilize market constituents
  • Mobilize complimentary assets for delivery
bridging
Bridging
  • “Human nature and psychology are as much parts of the calculus as objectively derived costs and benefits. Bridging involves taking the interests and the understandably different criteria of those whose help is sought into account while being evangelical. And it involves actively orchestrating the entire process by intervening across all the issues that matter…”

Jolly, p. 335

the role of the commercialization professional
The Role of the Commercialization Professional
  • Shepherd a new technology
    • from research,
    • through development, engineering, and manufacturing,
    • and ultimately to the customer.
  • Design a successful marketing/launch plan.
stimulating value recognition getting someone to see the value in something
Stimulating Value RecognitionGetting someone to see the value in something
  • Determine:
    • their everyday problems and needs
    • how they are *currently* meeting those needs
    • competitive ideas/products/services meeting those needs
  • Demonstrate
    • how your proposition can meet their needs better than the current/competitor’s method
the importance of persuasion
The Importance of Persuasion
  • External marketing:
    • “Persuading the masses to buy.”
  • Internal marketing:
    • Convincing management that a technology is worthy of continued support
    • Convincing a potential funder that the technology is worthy of funding.
key concepts in persuasion
Key Concepts in Persuasion
  • Structured thinking process
  • Debugging proposals (Linkages between sections)
  • Two principles
    • Fix responsibility
    • Structure messages with receiver in mind
  • Buying Process
  • Persuasion Process
  • Needs
buying process
Buying Process

Need

Recognition

Search

Evaluation

of Alternatives

Decision

key concepts in persuasion18
Key Concepts in Persuasion
  • Structured thinking process
  • Debugging proposals (Linkages between sections)
  • Two principles
    • Fix responsibility
    • Structure messages with receiver in mind
  • Buying Process
  • Persuasion Process
  • Needs
persuasion process
Persuasion Process
  • (Audience definition)
  • (Statement of *your* objective)
  • Statement of audience needs (Conscious)
  • (Agreement on audience needs)
  • Plan
  • How it Works
  • Results
  • Next Step(s)
unifying concept the marketing plan
Unifying Concept: The Marketing Plan

I. Executive Summary

II. Marketing Situation Analysis

III. Opportunity and Issue Analysis

IV. Objectives

V. Marketing Strategy

VI. Action Programs

VII. Projected Profit-and-Loss

VIII. Controls

*Year 1 of a 3-year strategic plan

corporate strategic planning
Corporate* Strategic Planning
  • Recall or revise the mission
  • Select strategic segments
  • Allocate resources
  • Choose among business development possibilities

* or Entrepreneurial

slide22

Pillsbury

Plus

Bundt &

Streusel Swirl

Mushrooms

& LeSueur

Brownies

7 Majors

Buffet &

Specialty

I. Executive Summary

I. Executive Summary

I. Executive Summary

I. Executive Summary

I. Executive Summary

I. Executive Summary

II. Current Marketing Situation

II. Current Marketing Situation

II. Current Marketing Situation

II. Current Marketing Situation

II. Current Marketing Situation

II. Current Marketing Situation

III. Opportunity and Issue Analysis

III. Opportunity and Issue Analysis

III. Opportunity and Issue Analysis

III. Opportunity and Issue Analysis

III. Opportunity and Issue Analysis

III. Opportunity and Issue Analysis

IV. Objectives

IV. Objectives

IV. Objectives

IV. Objectives

IV. Objectives

IV. Objectives

V. Marketing Strategy

V. Marketing Strategy

V. Marketing Strategy

V. Marketing Strategy

V. Marketing Strategy

V. Marketing Strategy

VI. Action Programs

VI. Action Programs

VI. Action Programs

VI. Action Programs

VI. Action Programs

VI. Action Programs

VII. Projected Profit-and-Loss

VII. Projected Profit-and-Loss

VII. Projected Profit-and-Loss

VII. Projected Profit-and-Loss

VII. Projected Profit-and-Loss

VII. Projected Profit-and-Loss

VIII. Controls

VIII. Controls

VIII. Controls

VIII. Controls

VIII. Controls

VIII. Controls

Corporate (Strategic Plan)

SBU #1 Plan

SBU #2 Plan

SBU #3 Plan

Refrigerated

Dough

Green

Giant

Baking

Mixes

Marketing Plans

the marketing plan23

I. Executive Summary

II. Marketing Situation Analysis

III. Opportunity and Issue Analysis

IV. Objectives

V. Marketing Strategy

VI. Action Programs

VII. Projected Profit-and-Loss

VIII. Controls

The Marketing Plan*

*Year 1 of a 3-year strategic plan

slide24

I. Executive Summary

II. Marketing Situation Analysis

Customers

Competition/Industry

5 C’s

Company

Collaborators

Context (macroenvironment)

Plus: Market Potential and Demand

III. Opportunity and Issue Analysis

IV. Objectives

V. Marketing Strategy

VI. Action Programs

VII. Projected Profit-and-Loss

VIII. Controls

*Year 1 of a 3-year strategic plan

opportunities issues analysis

I. Executive Summary

II. Current Marketing Situation

III. Opportunity and Issue Analysis

IV. Objectives

V. Marketing Strategy

VI. Action Programs

VII. Projected Profit-and-Loss

VIII. Controls

Opportunities/Issues Analysis
  • Analyze current situation (5 C’s)
    • Context (macroenvironment), Competition/Industry, Customer, Collaborators, Company
  • Identify opportunities/threats (external)
  • Identify organizational strengths and weaknesses that are related to those opportunities and threats (internal)
objectives

I. Executive Summary

II. Current Marketing Situation

III. Opportunity and Issue Analysis

IV. Objectives

V. Marketing Strategy

VI. Action Programs

VII. Projected Profit-and-Loss

VIII. Controls

Objectives
  • Financial Objectives
    • Produce contribution of $1.8 million
    • Produce net profits of $.8 million
  • Marketing Objectives
    • Sell 100,000 widgets
    • Increase customer awareness from 15% to 30%
    • Achieve 10% share of the widget market
the marketing plan27
The Marketing Plan

I. Executive Summary

II. Current Marketing Situation

III. Opportunity and Issue Analysis

IV. Objectives

V. Marketing Strategy

Segmentation, Targeting

Differentiation, Positioning

Marketing Mix (4 P’s)

VI. Action Programs

VII. Projected Profit-and-Loss

VIII. Controls

the marketing plan28

I. Executive Summary

The Marketing Plan

II. Current Marketing Situation

III. Opportunity and Issue Analysis

IV. Objectives

V. Marketing Strategy

VI. Action Programs

TACTICS (specifics and timing):

Product Design details

Pricing details

Promotional details

Place/distribution/alliance details

VII. Projected Profit-and-Loss

VIII. Controls

the marketing plan29

I. Executive Summary

The Marketing Plan

II. Current Marketing Situation

III. Opportunity and Issue Analysis

IV. Objectives

V. Marketing Strategy

VI. Action Programs

VII. Projected Profit-and-Loss

One Year Basic Financials

Sales Units

Sales Price and Gross Sales

Cost of Goods Sold

Gross Margin

Marketing Expense

SG&A Expense

Net Margin

VIII. Controls

the marketing plan30

I. Executive Summary

The Marketing Plan

II. Current Marketing Situation

III. Opportunity and Issue Analysis

IV. Objectives

V. Marketing Strategy

VI. Action Programs

VII. Projected Profit-and-Loss

VIII. Controls

    • Methods of tracking progress
    • Methods of evaluating progress
  • Contingency plans
objective
Objective
  • Develop effective marketing strategy to:
    • “sell” an idea
    • license a technology
    • introduce a new product
    • support an existing product
persuasive proposal
Persuasive Proposal
  • Review: Key Elements of Persuasive Proposal
    • Understand your customer’s buying process.
    • Understand the persuasion process.
  • Reflect back now
    • A Marketing plan has two audiences
      • upper management, or a funding source
      • customer
    • Think through what you see as the similarities and/or differences between a persuasive proposal and a marketing plan.
persuasion and marketing
Persuasion and Marketing
  • Determine audience (segments/target)
  • Collect information to turn into opportunities
    • stakeholder needs (customer)
    • competition, company, collaborators, context
  • Set objectives (communication, results)
  • Develop strategy
    • determine how I/P/S* meets needs (results) vs. competition
    • positioning = communicating how

* idea/product/service

slide35

Sources of Information About Markets and Customers

  • Subjective information
    • intuitive prediction
  • Objective information
    • market research
slide36

Subjective InformationBenefits

  • Primary input during idea generation and screening for new product development.
  • Strategic advantage to introduce quickly.
slide37

The Average American Consumer Quiz

% of consumers agreeing

Sample questions

% Male % Female

1. A nationally advertised brand is usually better than ________ _________

a generic brand

2. I went fishing at least once in the past year ________ _________

3. I am a homebody ________ _________

5. The government should exercise more control over ________ _________

what is shown on television

6. Information from advertising helps me make better ________ _________

buying decisions

7. I like to pay cash for everything I buy ________ _________

9. I am interested in spices and seasoning ________ _________

(Note: not all questions included)

Hoch (1988) Journal of Consumer Research

slide38

Predicting the Interests and Opinions of the American Consumer:

Hoch (1988) Journal of Consumer Research

slide39

Sources of Information

  • Subjective information
    • intuitive prediction
  • Objective information
    • market research
    • data works better most of the time!
market research uses
Market Research Uses
  • Technology Assessment
  • Product Development
  • Marketing (Launch) Plan
market research uses41
Market Research Uses
  • Technology Assessments
    • Initial quick assessment (Quick Look)
    • In-Depth
  • Product Development
  • Marketing (Launch) Plan
market research uses42
Market Research Uses
  • Technology Assessment
  • Product Development
    • Understand customer problems/needs
    • Concept testing
    • Assess potential market size
    • Market testing
  • Marketing (Launch) Plan
market research uses43
Market Research Uses
  • Technology Assessment
  • Product Development
  • Marketing (Launch) Plan
    • Situation Analysis
      • Macroenvironment
      • Industry/Competition
      • Company/Product
      • Customers
      • Collaborators
    • Setting Objectives
    • Developing Marketing Strategy
market research uses44
Market Research Uses
  • Technology Assessment
  • Product Development
  • Marketing (Launch) Plan
    • Situation Analysis
    • Setting Objectives
      • Estimating market potential
      • Estimating demand
    • Developing Marketing Strategy
market research uses45
Market Research Uses
  • Technology Assessment
  • Product Development
  • Marketing (Launch) Plan
    • Situation Analysis
    • Setting Objectives
    • Developing Marketing Strategy
      • Segmentation and Targeting
      • Differentiation and Positioning
      • Product
      • Pricing
      • Promotion
      • Place/Distribution
slide46

Pros

Cons

Primary Research

  • Surveys
  • Interviews
  • Focus Groups
  • Observation
  • Experimental
slide47

Secondary Research Sources

  • Internal Company Data
secondary research
Fast (relatively)

Inexpensive (relatively)

Readily available

May be high quality

Could be out of date

May not exactly address your question

Secondary Research

Pros

Cons

secondary sources of information external
Annual reports

Trade associations

Professional associations

Statistical Abstract of U.S.

National Trade Database

Survey of Buying Power

Trade/Consumer Publications

Trade Shows & Professional Exhibits Directory

WWW – Search Engines

WWW – Research Sites

Reference desk

Secondary Sources of Information - External

Library

sources of information
Customers

Benchmarking

Partnerships

Study trips

Annual reports

Patents/Licenses

SEC filings (U.S.)

Advertising agencies

Trade Shows/Conventions

Trade/professional associations

Suppliers/subcontractors/distributors

Sources of Information
early stage market research
Early Stage Market Research
  • Traditional market research helpful
  • Certain elements work better for very early stage research
    • Interviewing inventors/development teams
    • Talking to customers and collaborators
review wrap up
Review/Wrap-Up
  • Marketing concepts in commercialization
  • Persuasion concepts in marketing
  • The Marketing Plan
  • Market Research Overview
session 1 objectives53
Session 1 Objectives
  • Describe the roles of marketing in the commercialization process
  • Describe the relationship between Jolly’s concepts of mobilization and the five subprocesses of commercialization
  • Develop a persuasive proposal that incorporates an understanding of the buying process, the persuasion process, needs, and features.
  • Compare and contrast the elements of a marketing plan vs. a persuasive proposal.
  • Describe the relationship between corporate mission and strategy and a marketing plan.
assignment summary see syllabus for details
Assignment Summary(See Syllabus for details)
  • Write a Persuasive Proposal as per instructions in Aubuchon, Ch. 15.
    • Include both the outline and the one-page proposal.
    • Submit electronically to Kate by 06/01
  • Reading
  • Prepare/post study questions in Discussion Board – Session 2
  • Prepare information for interviewing exercise
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