Marketing of Innovations
Explore key marketing concepts, methods, and strategic issues relevant for start-up and early-stage entrepreneurs and "intrapreneurs" who innovate and turn ideas into profitable finished products.
More often than not, a new venture's success is not based on technology–it is marketing. Marketing plays a crucial role in developing, producing, and selling products and services and guides recruiting efforts and helps raise capital. All the important questions asked by investors in early stage companies or decision makers in larger entrepreneurial focused organizations are strategic marketing questions: Who is the customer? What problem do you solve for him? How big is the market? How quickly is it growing? Who are the competitors? What is your sustainable competitive advantage? And yet, many folks don't do the careful, pre-venture marketing, and it can prove to be a fatal mistake.
This class clarifies key marketing concepts, methods, and strategic issues relevant for start-up and early-stage entrepreneurs and early-stage entrepreneurs within larger established organizations. There is no universal marketing solution applicable to all entrepreneurial ventures, and this class is designed to help you develop a flexible way of thinking about marketing problems. You will be better positioned to determine and apply the most innovative and appropriate solutions to your situation.
- Customer satisfaction, retention and profitability
- Innovative positioning, pricing and market based assets
- Strategic focus, value disciplines and creating new market space
- Conduct an opportunity analysis - "What am I selling to whom?"
- Discuss how to segment and position for competitive advantage
- Understand product, value and business model innovation
- Discover how to price to capture value
- Learn the applicability of social media to entrepreneurial endeavors
Ben Bentzin, MBA, Lecturer, Department of Marketing
Kapil Jain, Ph.D., Senior Lecturer, Department of Marketing