8: Entrepreneurial Marketing

Summary: The importance and implications of the technology adoption life cycle are examined. We also survey the key elements of entrepreneurial marketing including a compelling product/service strategy, a well-crafted positioning and competitive differentiation and a subsequent penetration strategy (including distribution, promotion and pricing). The concept of marketing as a set of relationships (i.e., partnerships and alliances) with customers, technology allies, distribution and promotion partners and even competitors will also be discussed. We also investigate the importance and critical elements of "thinking globally" from a startup's perspective.

Quote of the Day : "I'm a great believer in luck, and I find the harder I work, the more I have of it." Thomas Jefferson

Guests (Click for Bios)
Scott Reynolds, Bloom Energy

Study Questions (Policy on Study Questions.)

• What makes marketing so difficult and important in a start-up? What is its relative importance to the product development and sales functions? Moreover, what is the difference between a market analysis and a marketing strategy?
• What is a discontinuous innovation? What is a disruptive technology? What are their implications for entrepreneurs?
• With respect to your term project topic ... How do you plan to segment your market and what is your target market? What is their compelling reason to buy your product? Who is your primary competitor and how is your product or service differentiated from them? What should be the key partnerships to focus on during the first year of operation?
• Before class, browse the Bloom Energy website and watch the CBS News 60 minutes special and bring any questions you have to the session.
  

Required Readings (Policy on Required Readings.)
Technology Ventures (Byers, Dorf, and Nelson): Ch 11, 15.2-15.3 (Highlights)
 
Watch the following short videos (top priority one for today is Guy Kawasaki):

CBS News 60 minutes special

Recommended Readings (Policy on Recommended Readings)
The Chasm Group web site, Geoff Moore's marketing strategy consulting firm.