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Brief Review

Brief Review. Why would anyone claim that a customer who does not pay has economic value? Name two innovations of pricing in fluid e-markets? What is the rationale behind them? What is the difference between inbound and outbound marketing?

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Brief Review

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Presentation Transcript

  1. Brief Review • Why would anyone claim that a customer who does not pay has economic value? • Name two innovations of pricing in fluid e-markets? • What is the rationale behind them? • What is the difference between inbound and outbound marketing? • Wherein lies the value for marketers of consumer search action?

  2. Virden • What should Jim Merrick do about VM 2.0? • What do you think of Merrick’s crew? Does it need to change? If so how? • What should be the role of marketing in high-technology firms?

  3. High TechMarketing Fundamentals: Process and Product

  4. Complexity of Technology • Phaedrus • What does the story teach technology marketers? • Unintended Consequences (when things bite back) • South American Fire Ant • Technological Paradoxes • Freedom-Enslavement • Control-Chaos • Technological Backlash • Luddites • GMF • Others?

  5. The business enterprise has two —and only two—basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs… -- Peter Drucker

  6. Radio (1900-20) Television (1930s) AT&T Picturephone Wrong “App” targeted Missing business model Ahead of time (1960) Innovation without Marketing…

  7. Technology is ubiquitous • Examples of traditional “high-tech” industries: • Computers and information technology • Biotechnology • Telecommunications • Internet • Examples of some industries where technological innovation is creating radical changes: • Agriculture • Waste Management (GM organisms) • Automotive • Consumer Products (GMF, irradiated chicken)

  8. A Supply Chain Perspective on Technology • Often, technological innovations occur at upstream (i.e., supplier) levels in the supply chain… • …affecting the manufacturing process or the inner workings of a product, but… • …end-user behavior may not be significantly affected • Examples: cars, food, computing, medication, hair styling, Internet, phone

  9. The Where of Technology • Process technology • Product technology

  10. Definition of Technology: • Technology is people using knowledge, tools, and systems to control processes and the environment.

  11. Definition of High-Technology: • No single preferred method for identifying high technology industries. • High technology industries have a great dependence on science and technology innovation that leads to new or improved products and services.

  12. Definitions of Technology: GovernmentPerspective • Classify industries based on objective, measurable indicators: • the number of technical employees • $ spent on R&D • # of patents filed in industry

  13. Why is it so difficult to succeed in High-Tech settings? • Complexity of Context • (Hyper)competition • Dynamic/Fickle/Ultra-demanding consumers • Incomplete Information/Partial Knowledge • Timing/Synchronization problems • Organization/Culture problems • Money problems

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