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Working with Inventors to Enhance Marketing Efforts

Working with Inventors to Enhance Marketing Efforts. Cathy Cohn. Marketing Specialist. Overview. Marketing at NIST NIST’s Portfolio of Technologies Marketing Campaigns Tactical Marketing Commercial Assessment of Inventions TEDCO Showcase. Marketing.

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Working with Inventors to Enhance Marketing Efforts

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  1. Working with Inventors to Enhance Marketing Efforts Cathy Cohn Marketing Specialist

  2. Overview • Marketing at NIST • NIST’s Portfolio of Technologies • Marketing Campaigns • Tactical Marketing • Commercial Assessment of Inventions • TEDCO Showcase

  3. Marketing Marketingis about meeting the needs and wants of customers Customer = Licensees, Partners Look at everything we do through the eyes of the customer

  4. What We Market, NIST’s Portfolio Market Areas

  5. Marketing CampaignsTarget Approach • Target specific industry sector(s) • Identify target companies • INVENTOR • Target the right person within the company • Business development, VP development, product manager • Person differs depending on size of company • INVENTOR • Initial contact –”cold call” • Sales presentation –value proposition • Handle technical questions • INVENTOR • Follow-up

  6. Marketing Mix The 4 P's of Marketing • Product – What is the “value proposition” to attract potential customers? • Connect invention features with benefits • Should be clear as possible for the technology business audience • INVENTOR • Promotion– How will you promote the technology to your potential customers? • Personal selling, website, showcase, advertising in the Federal Register, etc. • INVENTOR -conferences, publications, showcases • Place – Getting the product to the customer • INVENTOR • Price • What price should you expect?

  7. Commercial Assessment of Invention Disclosures Review each invention to determine: • Field(s) of use and application(s)? • Target market, names of potential companies? • What problem does the technology solve? • What are the most valuable benefits of the technology? • Is the technology unique? Or do competing technologies provide similar benefits? • Is the industry large enough? • Who is the competition?  • Any regulatory hurtles? • Niches where this technology will be of Interest? • What questions will potential customers ask?

  8. TEDCO ShowcaseNIST and NIH Technology Transfer and Commercialization Showcase NIH and NIST Technologies Discover and Commercialize Cutting Edge Bio-Imaging Technologies Oct 6, 2009 at NIST • Creates awareness of technologies from Maryland’s Federal Labs available for licensing and/or collaboration • Audience: Business developers, entrepreneurs, investors, researchers, inventors, education officials, economic and workforce development professionals

  9. TEDCO ShowcaseDay-long event • Formal welcome and keynote speakers • “Fast Pitch” presentations (24 talks, 7 minutes each) • Poster sessions • How to partner with Fed? • Resources • Facility tours • Challenge –Getting the inventors to understand the audience

  10. Cathy Cohn Marketing Specialist ccohn@nist.gov 301-975-6691

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