FITT Toolbox: Marketing
- 1. Marketing FITT – Fostering Interregional Exchange in ICT Technology Transfer – www.FITT-for-Innovation.eu Except where otherwise noted, this work is licensed under a Creative Commons Attribution 3.0 License.
- 2. Marketing Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Source: American Marketing Association (2007) Marketing is the wide range of activities involved in making sure that you're continuing to meet the needs of your customers and getting value in return. Marketing is usually focused on one product or service. Thus, a marketing plan for one product might be very different from that for another product. Marketing activities include 1) “Inbound marketing," such as market research to find out, for example, what groups of potential customers exist, what their needs are, which of those needs you can meet, how you should meet them, etc. Inbound marketing also includes analyzing the competition, positioning your new product or service (finding your market niche), and pricing your products and services. 2) "Outbound marketing" which includes promoting a product through continued advertising, promotions, public relations and sales. Source: http://www.managementhelp.org/ad_prmot/defntion.htm 2 | 03.2011 Marketing
- 3. Inbound Marketing In the setting of Technology Transfer Officers, inbound marketing is important in order to commercialize the research results of researchers. It is extremely important to perform market research to get more information about the market potential of the invention. Inbound marketing allows getting detailed insight into the positioning of new products and services by using new media on the internet e.g. search engine optimization may be very effective. In-market testing allows you to observe customer response in an actual purchasing situation Market Assessment Templates for Technological Marketing Living Labs in ICT 3 | 03.2011 Marketing
- 4. Market Assessment Investigation of the market potential of new incoming project proposals Rejection No Go Technological Analysis 90% of ideas Idea Technology Transfer Team Potential Market Analysis Go Commercial Services On Hold 10% of ideas Licensing Spin-Off Company Formation Investment Decision New Ventures Team Investment Team 4 | 03.2011 Marketing
- 5. Templates for Technological Marketing Process of technological marketing studies at CEA Pre-study Agreement • Definition of the issue, scope of the study Specifications • Objectives, expected results, timing, cost Template for specifications Preliminary analysis • Value chain, segmentation, legislation Phase 1 : • Way to find information Data collection • Interview guide, doc of presentation,,…. Interviews • Face to face, phone, focus group Study Phase 2 : interviews Synthesis and data analysis • Minutes of the interviews Phase 3 : • Market segmentation Synthesis • Demand and offer analysis • Recommandations Post-study After the study • Satisfaction questionnaire directly after the presentation of the study and also 4 months later Follow up and • Letters to the interviewed to thank them satisfaction • Follow up of the contacts and of the action plan decided 5 | 03.2011 Marketing
- 6. Living Labs in ICT Industry Convergence Failing Increased Innovation Competition Even more Only Competition Incremental Innovation Shortened Life Cycles Living Lab A Unique Environment to Experiment with = Real Innovation, with Users and the Complete Value Network 6 | 03.2011 Marketing
- 7. Outbound Marketing Outbound marketing entails tradeshows, seminars, emailing, cold calling, telemarketing, print advertising, etc. Outbound marketing is less important in the setting of Technology Transfer Officers as it regards the process of promoting new products and services. Marketing is all about getting business, knowing your customer, segmenting the market, structuring the action plan to go to market. This is a process that largely takes place once the venture has been created. Therefore, no practices of outbound marketing were included in the toolbox. 7 | 03.2011 Marketing
- 8. Suggested Readings Link to bibliography Link to code book Valorization Transfer opportunity Time-to-market Early adopters Early majority Link to related websites http://www.managementhelp.org/ad_prmot/defntion.htm 8 | 03.2011 Marketing