NMGT-8735 Marketing of Advanced Technologies (TO 735) 

Note: The following provides a suggested course description, objectives, and an outline. These may be modified pending discussion with the Faculty Chairs, proposing faculty, and other curriculum reviewers.

Representative 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 considered and adjusted to account for the risk and uncertainty accompanying products, services, and technologies at the earliest stages of the technology life-cycle. Marketing of Advanced Technologies 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 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.

Representative Course Objectives:

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. Identify and address the risks inherent in the commercialization of technology. Construct a marketing plan for a technology or technology firm.

Representative Course Topical Areas:

• Course Introduction and Overview
• Sources of Technological and Market Risk
• Industry Analysis
• Capabilities Analysis
• Introduction to @RISK
• Role of Technology in the Industry Value Chain
• Market Scanning, Segmentation and Positioning
• Demand Analysis and Forecasting
• Technology Marketing Intelligence
• Technology Marketing Strategy I: Building the Value Proposition
• Technology Marketing Strategy II: Determining Competitive and Market Scope
• Technology Marketing Strategy III: Factors in Sustainable Market Leadership
• Product Strategy I: The Product Development Process
• Product Strategy II: Building the User into the Technology Development Cycle
• Product Strategy III: Differentiation and Multi-product Strategy
• Pricing and Economic Analysis
• Scenario Analysis
• Personal Selling Strategy
• Promotional Strategy
• Channel Strategy: Value-Adding Partners and Vertical Linkages
• Presentation/Discussion of Marketing Plans

Prerequisite Knowledge:

Familiarity (gained either through prior course work or industry experience) with marketing, business organization, accounting, and elementary statistics would be helpful.