Essentials of Technical Marketing (TM144)

SynopsisThis course is aimed to provide an opportunity for the participant to acquire an insight into Technical Marketing with specific focus to the hi-tech industry. It is targeted to provide a head start to people who would like to work as Technical Marketers in this space.

Even till date, most of the hi-tech world has been split into 2 main forces - the Technical people and the Marketing people. Technical Marketing is a specific and niche area which taps on the synergy of both sets of these expertise in order to achieve a project success and customer win.

Hi-tech market has its own set of specifics & uncertainties which need to be addressed. While marketing is a continuous process in a product life cycle, one can broadly split it into 2 phases, the first phase in which marketing is needed to help define the product/R&D/technology road map (also called in-bound marketing in some organizations) and second phase where it helps push the product out to the market (also called out-bound marketing).

The first phase is quite often neglected resulting into heavy losses not just in terms of market share but also in terms of the invaluable man efforts put into developing a new but market inappropriate technology/product. While this course targets to provide valuable insight into both these aspects, special emphasis is provided on inbound marketing, an area where engineers with a technical background can especially value-add if they are equipped with the right kinds of marketing skill sets as needed in a hi-tech industry for this job function.

This course will enable your Technical Marketing engineer to understand the basics involved and effectively work within the team & with the customer to provide and help develop the optimal R&D road map and also facilitate marketing the final product for project win and success.

The course is structured into modules. Interactive workshops within the course facilitate in making this an interesting and interactive learning experience. Participants will be exposed to issues cited from real industry experience. This course will be delivered by a senior VLSI consultant with extensive exposure in supporting & managing microelectronics projects on a global scale.

What previous participants say about this course
Answers to the question 'what did you like most about the course'

• "Pricing because it helps company to achieve reasonable growth in revenue" - 24 Jun 08
• "Lively examples explaining the theory will make understanding easier" - 24 Jun 08
• "Platform, exercises" - 24 Jun 08
• "To be able further understand what are the differences between technical marketing and sales/marketing's roles" - 24 Jun 08
• "The manner high tech products are designed, position and brought to market" - 24 Jun 08

What You Will Learn

• Basic concepts of marketing
• Some underlying concepts of hi-tech market and customers
• Marketing research in hi-tech markets
• QFD (identifying customer requirements and mapping them onto product design process or R&D road map)
• New product development
• Categories of Adopters (both with respect to a product as well as to adopting a new technology)
• Development of a technology road map
• Using a platform and Derivative Strategy (what is it and why to use it)
• Technology Paradox and some solutions
• Tips on effective communication
• These in turn will enable you to effectively communicate with & support your customers, internal as well as external

Who Should Attend

• Technical Marketing engineers (fresh or with a couple of years experience)
• R&D, Product Development Engineers
• Customer Support Engineers, Business Development Engineers

PrerequisiteBasic engineering know how.

Course MethodologyThis course is conducted in a seminar room. The course will include brief interactive workshops like sessions to encourage participation and facilitate learning. Each participant will receive a set of course hand-out. There are no lab sessions.

Course Duration2 days, 9am - 5.00 pm

Course StructureA. What is Marketing

1) Some truths and myths
2) P - s of marketing
3) Components of Profit - market share, market size, percentage margin
4) Why do people buy
5) Competition

• Analysis
• Sources of information

6) Determining the market price, price-volume relationship
7) Achieving profitable innovation

• Options for biz development (Penetration, development of new services, market development, diversification)
• Blue ocean strategy, strategy canvas
• Role of marketing in innovation

8) Managing the future

• Planning process
• Models and techniques - SWOT, Boston Matrix/Growth Share Matrix

B. Introduction to High Technology

1) Uncertainties (Market, Technology and Competitive) and their sources
2) Framework for making hi-tech marketing decisions
3) Market Pioneering advantages and risks, the early adopters and the laggards
4) Market orientation in hi-tech markets

• What does it need
• Barriers

5) Market Research in hi-tech markets

• Aligning market research with the type of innovations
• Research techniques (empathic and lead user)

6) Quality Function Deployment (QFD) and Kano Diagram
7) New product development

C. Understanding Hi-Tech customers

1) Factors affecting customer purchase decisions
2) Categories of Adopters (Innovators, Early Adopters, Early Majority, Late Majority and Laggards) & crossing the chasm ; for both a new product as well as adopting a new technology
3) Customer Visit Programs
4) Product Development and Management issues in hi-tech markets

• Development of a technology road map
• What-to-sell decision (know-how, proof-of-concept, final product)
• Product vs. Services
• Product platforms and Derivatives - why use this strategy?

5) Pricing considerations in hi-tech markets

• Considerations
• Analyzing customers for profitability
• Technology pricing paradox

D. Technical Marketing - How do we communicate and sell

1) Selling the next step
2) Role of different methods of communication
3) How do we sell