"Marketing High Technology: Preparation, Targeting, Positioning, Execution" Introducing a new technology offers a marketplace the first opportunity to experience the brand new product. Therefore, the manner in which the introduction is handled is critical. Everything has to come together in what is usually a narrow window of opportunity.
In this article, the authors expressing their opinion on how commercialization is the costliest stage of the entire product development process and the risk of failure is very high. Persuading the market to adopt a new technology is generally comprised of four stages: market preparation, targeting, positioning, and execution.
Market Preparation is intended to get the market ready for the new technology by building awareness and forming relationships. At this stage companies can enter into alliances and develop licensing arrangements to encourage the adaptation of technological standards. Market preparation also can be tackled by sharing the new technology with original equipment manufacturers (OEMs). It enables the producer to retain full ownership of its technology while expanding market potential. Another important decision is the type of information released before launch, and the manner in which it is delivered, because it has to be planned carefully in order to arouse sufficient interest in the new product without losing a competitive edge. Finally, new distribution channels can be established into new markets by giving distribution rights to competitors or by creating joint ventures in these new markets.
Adaptation of a new technology is likely to be faster if the marketing strategy is compatible with the segment we are Targeting. Some examples would be to target innovative adopters who are prepared to buy without seeing the product up and running (techies or visionaries). We can target the pragmatists who are the large group of adopters following the techies and visionaries. They typically comprise...