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Virden

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?. High Tech Marketing Fundamentals: Process and Product. Complexity of Technology. Phaedrus

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Virden

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  1. 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?

  2. High TechMarketing Fundamentals: Process and Product

  3. 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?

  4. 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

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

  6. 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)

  7. 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

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

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

  10. 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.

  11. 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

  12. 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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