Contributing Scholar - John Bers, Vanderbilt University

3 Semester Credit Hours

Course Description

The technology-based company presents a unique set of challenges for the marketing function, particularly the management of high levels of risk and uncertainty about both the technology itself and the markets it does or could address. Almost every aspect of the traditional marketing mix must be reconsidered and adjusted to account for the risk and uncertainty accompanying products, services, and technologies at the earliest stages of the technology life cycle. Technology Marketing considers each of these stages in the marketing process, bringing to bear insights from a variety of technology management-related fields and introduces the theory, tools, and specialized techniques used in the marketing of technology.

Two themes permeate the course. The first is that the extreme uncertainties surrounding such marketing issues as segmentation, demand forecasting, product design decisions, pricing, and positioning can be mitigated through a process of understanding the prospective user's business environment, determining precisely how the product will add value to the business, and developing a value proposition targeted to that customer group. The second theme is that traditional market analysis techniques (surveys, focus groups, etc.) are not sufficiently effective at reducing market uncertainty to an acceptable level when the potential market has yet to be established. This qualitatively different level of uncertainty can be more effectively addressed through more proactive involvement of the user at every stage of product conceptualization and development, using prototypes and product "probes," working with early adopters, and building in extensive user feedback loops.

Prerequisites

Graduate Introductory Engineering Management or Marketing course.

Course Objectives

When you finish this course, you can expect to have acquired or developed some knowledge and skills that will be critical to your career as a manager of technology. You will: 

• Understand how businesses can maximize return on core technologies through a total technology life cycle management perspective.
• Understand the range of options for translating core technology into customer value.
• Be able to identify and address the risks inherent in the commercialization of technology.
• Have functioned as a member (or leader) of a high-performance team.
• As a member of this team, you will have constructed a marketing plan for a technology or technology firm.
• Have developed a network of contacts and relationships with technical and management professionals working in your technical field.
• Developed communication skills through professional presentations, class discussions, and contacts with technical and management professionals.

Course Topics

The following topics will be covered in the order given.

• Course Introduction
• What is Technology Marketing
• Capabilities Assessment
• Industry Analysis
• Introduction to @RISK
• Role of Technology in the Industry Value Chain (I)
• Role of Technology in Industry Value Chain (II)
• Building the Value Proposition I: The “What” and The “Why”
• Market Scanning, Segmentation, and Positioning (I):  The Case for Segmentation
• Market Scanning, Segmentation,  and Positioning (II) The Art of Segmentation
• Market Segmentation III: A Three-Screen Market  Scanning Tool
• Introduction to Assignment 2: EMS
• Demand Analysis Part I: Forecasting Demand
• Demand Analysis Part I: Forecasting Demand
• Demand Analysis Part II: Managing Demand
• Introduction to Assignment 3: MRS Technology
• Technology Marketing Intelligence
• Sources of Information for Marketing Plans
• Guidelines for Collecting Technology Marketing Intelligence
• Technology Marketing Intelligence
• Marketing Strategy I Determining Competitive and Market Scope
• Marketing Strategy I Determining Competitive and Market Scope
• Marketing Strategy II: Factors in Sustainable  Market Leadership
• Marketing Strategy 4:  Moving from Early Adopters to the Mainstream
• Product Strategy I: The Product Development Process
• Product Strategy II: Building the User into  the Development Cycle
• Product Strategy III: Capturing Value from  Technological Innovation
• Product Strategy IV:  Multi-Product Strategies
• Pricing Strategy I Alternative Perspectives on Pricing
• Pricing Strategy II Value and Cost-Based Models
• Pricing Strategy III Hybrid Pricing Models
• Scenario Analysis for Emerging Technologies Introduction to Motorola Model
• Marketing Communications Strategy I Developing a MC Strategy
• Marketing Communications Strategy II Personal Selling Strategy
• Value-Adding Partners  and Vertical Linkages
• Course Wrap-up: The Marketing Challenge for Technology Companies

Textbook

No Textbook.  Course Packet.

Disclaimer: The course syllabus may differ slightly from this course. Descriptions will be provided in your online course. Textbook information is provided only to give more information about the course.  Do Not use this information to purchase a textbook.  Up-to-date information will be provided when you register.