High-Tech marketing

Hightech Marketing Strategy

http://intempus.tistory.com

주요 참고문헌

- Adrian Ryans, Roger More, Donald Barclay and Terry Deutscher, Winning Market Leadership : Strategic Market Planning for Technology-Driven
Businesses, Wiley (Dec 15, 1999)
- Geoffrey A. Moore, 캐즘 마케팅(Crossing the Chasm), 세종서적, 2002 (초판번역: 벤처마케팅(1999))
- Geoffrey A. Moore, 토네이도 마케팅(Inside the Tornado: Strategies for Developing, Leveraging, and Surviving Hypergrowth Markets), 세종서적,
2001
- 이승주, 경영전략실천매뉴얼, 시그마컨설팅그룹, 1999

자료물 출처: 파아란 영혼 http://intempus.tistory.com , yongsup.kim@yahoo.com

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2

TABLE OF CONTENTS

I. Process for Understanding Market

II. Understand Discontinuous Innovation

III. Technology Adoption Life Cycles

IV. Understand Buyer Behavior

V. Understand Complete Market Chain


I. Process for Understanding Market


Planning Process

Implement the Strategy Define the Business Arenas : Identify Attractive
Opportunities :
• Define the arena within which
you will search for attractive • Segments the market
opportunities • Evaluate market forces

Understand the Profit Understand the Market
Dynamic : Environment
• Estimate market acceptance • Lay out market chain(s)
• Develop price, cost, and • Understand buyer
investment forecasts choice/rejected behavior

Planning Process
Complete the Winning Assess Resources and
Strategy : Competencies :
• Detail complete strategy • Identify resources and
• Ensure strategic leverage for competencies
market chain members • Determine fit

Plan Critical Relationships: Make Tough Strategic Choices: Understand the Competitive
• Review past strategy Challenge :
• Identify key players • Identify strategic issues • Analyze current and potential
• Plan relationships • Create option competitors
• Organize relationship teams • Make Choices • Understand strategy drivers

5 http://intempus.tistory.com

Process for Understanding Market

q Process for Analyzing Technology Adoption, Buyer Behavior, and Market Chains

Identify Stage of Technology Adoption Life Cycle
Technology Adoption Life Cycle
Understand Characteristics of Target Adopter Group

Understand “Whole Product” Needs

Identify Decision-Making Unit

Understand Buyer Behavior
Understand Choice Criteria

Understand Choice/Rejection Process

Review Market Chain Options

Understand Complete Market Chain
Consider Market Chain Dynamics

Analyze Buyer Behavior at All Key Levels in the Chain


II. Understand Discontinuous Innovation


What is Innovation?

What is Innovation? Source of Innovation

• Innovation is the successful development and
Unexpected
commercialization of new products, services, or Occurrence
business systems.
New
Incongruities
Knowledge
• In many industries, innovation is the primary basis
for competitive advantage and the principal driving
force of industry structural change. Innovation
Changes in Process
Perception Needs
• Continuous Innovation
• Dynamically Continuous Innovation
• Discontinuous Innovation Industry
Demographic
and Market
Changes
Changes

Source: P.Drucker, “The Discipline of Innovation,” Harvard Business Review, 1985


The Technology S-Curve

The S-Curve Phenomenon Making The Transition To a New Technology

Performance Performance
Limit
discontinuity

Effort Effort

Source : R.Foster, Innovation:The Attacker’s Advantage, 1996

The Attacker’s Advantage in Technology Development

Performance
of New
Technology Technology
Leap

Attacker

Cumulative Effort

Defender

Productivity of
R&D Function

Cumulative Effort

Source : J.Kluge, “Managing Technological Discontinuity,” Innovation and Technology Management, 1989

Changing Leadership in the Semiconductor Industry

1955 1965 1975 1995
(Vacuum Tubes) (Transistors) (Integrated Circuits) (Submicrons)

RCA Hughes TI Intel
Sylvania Transitron Fairchild NEC
General Electric Philco National Toshiba
Raytheon Sylvania Intel Hitachi
Westinghouse Texas Instruments Motorola Motorola
Amperex GE Rockwell Samsung
National Video RCA GI TI
Rawland Wesinghouse RCA Fujitsu
Eimac Motorola Philips Mitsubishi
Lansdale Clevite AMD Philips

Source : R.Foster, Innovation:The Attacker’s Advantage, 1996

III. The Technology Adoption Life Cycle


Technology vs. Product Category Life Cycles

* Boston Consulting Group portfolio management model


The Technology Adoption Life Cycle

q Understanding this technology adoption life cycle, and where your products and services are positioned
relative to this adoption life cycle, can give you some important insights into buyer behavior.

Pragmatists : Conservatives :
Stick with the herd! Hold on!

Visionaries :
Get ahead of the herd!
Skeptics :
No way!
Techies :
Try it!

2.5% 13.5% 34% 34% 16%

Innovators Early Adopters Early Majority Late Majority Laggards

Time

Source : Everett M. Rogers, Diffusion of Innovations, 1962


Innovators(Technology Enthusiast)

q Gatekeeper to the Early Adopter.
§ They don’t need a complete solution.
§ But, Innovators want lots of information on the technology so they can understand how the technology works. In many
cases, they will read leading scientific journals in the field and attend technical conferences.

Innovators(Technology Enthusiast, Techies)
Focus § Technology
Key Characteristics § Very Knowledgeably about technology
§ Appreciate elegant technical solutions
§ Like to test new technology
§ Don’t need complete “solutions”
Needs § Early access to emerging technologies
§ Access to all information on technology
Role in adoption process § Confirm viability of technology
(They are critical in legitimizing the product and convincing other potential users that the
technology does in fact work)
Challenges § Want unrestricted access to top technical people
§ Want no-profit pricing(preferably free)


Early Adopters(Visionaries)

q Fund the development of the early market
§ Visionaries can imagine high-leverage applications of the technology and are willing to take substantial risks to gain the
potential rewards.
§ If they can see lots of leverage from applying the technology, they are also willing to invest their resources to create a
complete solution

Early Adopters(Visionaries)
Focus § Breakthrough that will create competitive advantage
Key Characteristics § Can imagine high leverage applications
§ Willing to take risks
§ Willing to invest resources to create
§ Not price sensitive

Needs § Lots of support
§ Want to move quickly
Role in adoption process § Help commercialize the technology
(They can demonstrate the business value of the technology)
§ Give visibility to technology
Challenges § Want rapid time-to-market
§ Demand high degree of customization and support


Early Majority(Pragmatists)

q Bulwark of the mainstream market
§ Looking for proven solutions that can give them a competitive advantage,
§ So They like to work with a market leader, or work with other suppliers that provide the required level of support and
service.

Early Majority(Pragmatists)
Focus § Proven solution that can give lower costs and/on competitive advantage
Key Characteristics § Comfortable with technology
§ Pragmatic rather than risk takers
§ Like to work with market leaders
§ Have a “wait and see attitude”
§ Don’t like surprises
Needs § Complete, proven solution
§ Want credible reference accounts in their own industry
Role in adoption process § Are entry point into huge, mainstream market
(Pragmatists create the dynamics of high-tech market development.)
Challenges § Insist on good references from trusted colleagues
§ Want to see the solution in production at the reference site


Late Majority(Conservatives)

q Extend product life cycles
§ But they adopt new technology only under duress
§ They are driven to adopt the new technology in order to reduce costs and to remain competitive in their markets.
§ They need a complete solution and they prefer a simple, standardized, pre-assembled solution that just works.

Late Majority(Conservatives)
Focus § Remain competitive
Key Characteristics § Less comfortable with technology
§ Resistant to change
§ More price sensitive
§ Risk averse
Needs § Prefer simple solutions that are easy to install and operate
§ Want to buy the established standard

Role in adoption process § Represent significant portion of the total market
§ Can be quite profitable
Challenges § Need completely pre-assembled solutions
§ Would benefit from value-added services but do not want to pay for them


Laggards(Skeptics)

q Retard the development of high-tech markets
§ In many cases, a Skeptics located in an influential position in a company can delay, or stop, the adoption of a new
technology.
§ The Challenge in these situations is to find some way to work around the skeptic or to neutralize the skeptic, so that
other, more innovative individuals within the organization can support the adoption of the new technology.

Laggards(Skeptics)
Focus § Avoid change
Key Characteristics § Very skeptical of technology and business cases
§ Very risk averse
Needs § Technology may need to be “Hidden” from them
§ Need to be convinced that all other solutions are weaker
Role in adoption process § Obstructs change
§ You should usually try to avoid or neutralize them
Challenges § Not a customer
§ Can be formidable opposition to early adoption


Identify Stage of Technology Adoption Life Cycle

q Understanding the adoption process has some clear implications for you as you try to speed the adoption of
an innovative new product or service.

q The Adoption “Stairway”

§ Innovators(Technology Enthusiast)
§ Seed innovators with new product
§ Help innovators educate visionaries

§ Early Adopters(Visionaries)
§ Capture interest of visionaries
§ Make them satisfied customers
§ Serve as good references for pragmatists

§ Early Majority(Pragmatists)
§ Gain bulk of revenue by serving pragmatists ideally by becoming market leader and setting de facto standards

§ Late Majority(Conservatives)
§ Generate volumes and experience so product become reliable and cheap to meet demands of conservatives

§ Laggards(Skeptics)
§ Leave skeptics to their own devices


Discovering The Chasm

q Visionaries don’t see enough of a head start, Pragmatists see no reason to start yet.

Early Market Mainstream Market

Pragmatists : Conservatives :
Stick with the herd! Hold on!

Visionaries :
Get ahead of the herd!
Skeptics :
No way!
Techies :
Try it! The Chasm

Innovators Early Adopters Early Majority Late Majority Laggards

Time


Model Breaks Down at Key Transition

q Pragmatists don’t trust visionaries as references

Visionaries Vs. Pragmatists
§ Adventurous § Prudent
§ Early buy-in attitude § Wait-and-see

§ Think Big § Manage expectations

§ Go it alone relationships § Maintain

§ Spend big § Spend to budget

§ First strike capability § Staying power

§ Think Pragmatists are pedestrian § Think Visionaries are dangerous

§ Don’t need reference base § Reference base very important, not
§ Take greater interest in technology visionaries
§ Underemphasize infrastructure § Less interested in technology

§ Plan for disruption § Value infrastructure and support

§ Don’t plan to stay for long § Dislike disruption

§ Plan for long term career


Crossing the Chasm

q A number of indicators warn of an emerging chasm

Chasm

Early Market Mainstream Market

§ Product vendor’s problem
ü 80% of many solutions – 100% of none
ü Pragmatists won’t buy 80% solutions
§ Most common vendor mistake:
ü Committing to the most common enhancement requests
ü Never finishing any one customer’s wish-list
§ Solution
ü Focus on a single beachhead
ü Accelerate formation of that segment’s whole product
ü Pick a list and finish it!


Most Important Implication

q Don’t let this happen to you

§ Not seeing the chasm creates a chasm crisis
§ Management is discredited
§ Equity is radically diluted
§ Key personnel become disillusioned
§ Drastic actions are taken – but don’t help
§ Typical success pattern is not achieved
§ Everyone loses


Crossing the Chasm

q Time of despair, early market interest wanes, but mainstream not comfortable with product

q Pragmatist departmental managers adopting before the herd

§ Head-pin segment adopts only if in severe pain
§ Responsible for a broken mission-critical business process
§ Must have complete solution to the business process problem
§ Will try anything that looks like it should work
§ Will track customer references within own niche carefully

q Niche Marketing prevails

§ Direct sales opens up the niche
§ Indirect sales takes over the niche once adoption is under way
§ Healthy price margins and restricted competition are normal
§ Think whole product not product


After Crossing the Chasm - Market Development Model

q Your company then must try to leverage this success in on segment to other related segments
§ Early Market : Deal-driven marketing prevails
§ Crossing the Chasm : Niche marketing prevails
§ Bowling Alley à Tornado à Main Street


Bowling Alley

q Period of niche-based adoption in advance of the general marketplace; whole product for niche applications

§ First, managers in your company might try to identify other vertical markets with almost identical applications and
move to penetrate them.
§ Second, they might look new, different, but related applications in the vertical market in which your company is already
established.

Seg 3 Seg 2 Seg 1
App 1 App 2 App 3

Seg 2 Seg 1

App 1 App 2

Seg 1
Whole Product Customer Reference
App 1

Seg : Segment
App : Application


Tornado

q Period of mass market adoption; market place switches over to new paradigm
§ Once the company has begun to successfully implement the bowling pin strategy and penetrate the early majority or
pragmatists, revenues grow very rapidly.

§ Pragmatist infrastructure managers adopting with the herd
§ Transition to the new infrastructure
§ Must have standards
§ Rely on market share

§ Mass marketing prevails
Post-Tornado Market Shares
§ Streamlined one-size-fits-all whole product
§ Low-touch, high-volume distribution
§ Think product

The Gorilla
Chimp #1
Chimp #2
Monkeys


Gorilla Power

q Gorilla set the de facto standards in a hypergrowth market

q Basis of gorilla power

§ Proprietary open architecture
§ Proprietary means gorilla can control standards going gorward
§ Open means rest of the value chain becomes dependent on gorilla

§ High switching costs
§ Keeps customers and partners in
§ Keeps competitors out

q Results in unique combination of three types of power
§ Supplier power (over customers)
§ Value chain power (over partners)
§ Market leadership power (over competitors)

q Gorilla – Market leader in a tornado, Proprietary ‘architecture’
q Chimp – Market challenger in a tornado, Incompatible with the gorilla architecture
q Monkey – Market follower in a tornado, May clone gorilla architecture


Main Street

q Period of aftermarket development; goal is now to reach and flesh out the market potential

q Installed base driving the after-market
§ Want better value, no disruption
§ Two paths: commodity vs. differentiation
§ Installed vendor has major competitive advantage
§ Customer relies on trial, not references

q Mass customization prevails
§ Standard core for price-sensitive sales
§ Customizable surface for differentiated offers
§ High-touch, high-volume distribution direct to end users
§ Think end-user experience not product

Commodity Niche Market
Market Extensions

<Market opportunity in Main Street>


The Comparison of Bowling Alley and Tornado

q Bowling Alley vs. Tornado

§ Focus on economic buyer and end-user § Focus on infrastructure buyer; ignore
economic buyer
§ Emphasize ROI as the compelling reason to
buy § Ignore ROI; focus on timely infrastructure
deployment
§ Differentiate “whole product” for a single
application § Commoditize product for general purpose use

§ Partner with value-added distribution channel § Distribute via low cost, high volume channels
to ensure customized solution delivery to ensure maximum market exposure

§ Use value-based pricing to maximize profit § Use competition based pricing to maximize
margins market share

§ Avoid competition to gain niche market share § Attack competition to gain mass market share

§ Position products within vertical market § Position products horizontally as global
segments infrastructure


The Comparison of Tornado and Main Street

q Tornado vs. Main Street

• Sell to infrastructure buyer § Sell to end-user

• Focus on timely & reliable infrastructure § Focus on end-user’s product experience; seek
deployment to gratify individual needs

• Commoditize product for universal § Differentiate commoditized products via +1
deployment (open systems & need for strategic campaigns directed at specific niches
partnerships)
§ Continue same channels, but focus on
• Distribute via low cost, high volume channels merchandising that communicates +1
& advertise heavily to ensure maximum messages
market exposure
§ Gain margins above low cost clone with +1
• Drive price points even lower to maximize benefits
market share
§ Compete against own low-cost offering to
• Attack other competitors to gain market share boost margin share

• Position products horizontally as global § Position in niche markets based on end user
infrastructure preferences


Toward the “Whole” Product

q With the innovator, the core product is a big part of the whole product.
q By the time the product has reached the late majority or conservatives adopter group, the success of the
product will depend much more heavily on the non-core elements of the product rather than the core product
itself.
q Thus the core-product is increasingly taken for granted and becomes a less important determinant of choice
as the product moves into the later stages of the adoption cycle.

Potential Product

Expected Product Augmented Product

Generic Product


Priorities in Market

Mass Mass
Marketing Customization

Deal-driven
Marketing

Niche
Marketing

Key Priority: Design & build the whole product Key Priority: Simplify and extend the whole product
Partnering Priority: Complementary technologies Partnering Priority: Complementary skills and resources in
& services to form the whole product and win marketing and distribution to succeed in identifying new niches
dominant segment share Distribution Priority: Find some hunters for the Tornado and
Distribution Priority: Find some evangelists for farmers for the Main Street
Early market and Crusaders for Bowling Alley


IV. Understand Buyer Behavior


Identify Decision-Making Unit

q The decision-making unit, or buying network, is a group of individuals that have some influence on whether
to buy a particular product or service and, if the decision is made to buy the product or service, the particular
brand of that product or service.
§ To recognize that the key individuals in the decision-making unit may very well evolve over time.
§ To understand the power and influence of each individual in the decision-making unit.

Buyer
Key Questions

• Who are the key
decision-makers?
Who is the • In what decisions do they
Influencer Approver
Customer? exercise influence?

• What evaluation criteria
do they use?

User


Understand Choice Criteria

q A second important element is the choice criteria that individuals in the decision-making units bring to bear
as they attempt to make a decision. These criteria are related to both organizational and personal objectives.

Product Criteria Process Criteria

§ Product criteria refer to the fit of the product § Process criteria refer to the degree to which your
attributes to the customer’s need. product or service fits the customer’s need from
a purchasing, usage, and disposal perspective.
§ Does the product or service have the
functionality, quality, reliability, speed the § Some organizations call this the customer
customer is seeking? interface strategy.

This information on choice criteria by market segment can be absolutely critical as
you design your product and service offerings and as you decide how best to
position them relative to customer needs and competitive offerings in the market.


Understand Choice/Rejection Process

q The third element in understanding buyer choice/rejection behavior is the “How” question – how the
customer goes about making decisions in the choice/rejection process.
§ In order for them to adopt the new product or service, these customers need to switch from their existing choices.

Step 3 :
Your
Competitor BUILD BARRIERS
Solution
A’s Solution Creation of barriers
to reduce chances
Current of rejection of your
Solution Step 2 : IN new solution
Perceived
Need for Adoption of
Change new solution
Competitor
Step 1 : OUT
B’s Solution
Rejection of current
choice or solution

Choice/Rejection Process
(The Three Critical Issues)
Experience Experience

Time


V. Understand Complete Market Chain


Defining Market Chain

q A Market Chain is simply the chain of organizations a company uses that play key roles converting raw
materials into solutions that meet end-user requirements
q Market Chain as live, profit-driven, value-creating networks of companies that compete with other value-
creating systems in the market

Raw End User/
Equipment
Materials Consumers

Raw Systems/ Manufacturer/ VAR/ End User/
Components Distributor
Materials Products OEM Retailer Consumers

End User/
Services Distributor
Consumers
OEM – Original Equipment Manufacturer
VAR – Value-Added Reseller


Choices Among Market Chain

q Market Chain Challenge facing a Manufacturer Trying to Reach Multiple Target Segments

Market Channels Target Segments

2
1
3
Manufacturer

4
7
5 6


Choices Among Market Chain

q Two Potential Market Channels for a Manufacturer of Semiconductor Components to Access the Antilock
Braking Systems Market

Raw Car
GM Dealers
Materials Buyers
Modules Tevis

Capital Car
Motorola Ford Dealers
Equipment Buyers

Modules Bosch

Car
Supplies Chrysler Dealers
Buyers


Consider Market Chain Dynamics

q Take account of a number of considerations.

q First, it should use channels that represent an attractive opportunity for it. Other things being equal, it should
focus on the channel(s) most likely to be successful in gaining market share, growth, and profitability.
These channels will be ones where there is an excellent fit between what the channels can deliver and the
needs of the end user.

q Second, if a company is aiming to capture leadership in the opportunity, it should focus on those channels
where it can clearly emerge as the market leader relative to competing companies using the same chain. It
will need to present powerful reasons for the market chain members to work closely with it and to
aggressively market its products.

q In PC Industry, Dell eliminate all downstream market chain members and deal directly with customers
largely by personal selling, by telephone, or over internet.


Downscaling and Upscaling

Vertical Downscaling or Upscaling
Changing an organization’s
Value-adding role

Raw Systems/ Manufacturer VAR/ End Users/
Components Distributor
Materials Products (OEM) Retailer Consumers

Horizontal Upscaling
Changing the application and/or
technology to create more value-added
for market chain members


Vertical Downscaling and Upscaling

q Vertical Upscaling

Motorola acquire
a module maker
Modules Tevis

Motorola Car
Car Makers Dealers
Buyers

Modules Bosch

q Vertical Downscaling

Modules Tevis

Motorola Car
Car Makers Dealers
Buyers

Modules Bosch
Motorola


Market Chains as a Series of Choice/Rejection Process

q The major challenges in any technology-intensive industry is
§ Getting new products to the market in a timely manner
§ Managers don’t usually pay enough attention to adoption along each of the market channels that make
up the market chain
§ Existing business that carry a certain set of products and services and operate in certain ways

q Once they have adopted, you or other players in the market chain will need to work with them
and develop programs that solidify the new behavior.
q To do all of this effectively requires that you or other committed partners in the market chain
understand the decision-making unit, the choice criteria, and the choice/rejection process at all
levels in the market chain.


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