7 Essentials of IT Marketing

7 Essentialsof IT Marketing Image: Pixomar / FreeDigitalPhotos.net Broad outline of the key factors influencing marketing decisions in the IT industry Anil Yerra a_y_kumar@yahoo.co.in Image: renjith krishnan / FreeDigitalPhotos.net

“The art of marketing is the art of brand building. If youare not a brand, you are a commodity. Then price iseverything and the low-cost producer is the onlywinner.” - Philip Kotler Brand Identity Image: renjith krishnan / FreeDigitalPhotos.net www.linkedin.com/in/anilyerra

Does marketing need to bedifferent for the IT industry ? Image: jscreationzs / FreeDigitalPhotos.net Basic marketing plan can rely on the standard approach Alter strategies to cross the ‘chasm’ of visionary adopters and majority market Issues that need to be addressed:  Secondary importance to marketing compared to development  Techies lacking a ‘market focus’ mindset  Cross functional collaboration within organisation  Paucity of High-Tech marketing expertise Marketing plan needs to be modified to suit higher degree of uncertainty in the ITenvironment Marketing plan needs to be tailored to the type of innovation www.linkedin.com/in/anilyerra

7 Essentials of IT Marketing #1 PRODUCTS & SERVICES #2 ENVIRONMENT #3 STRATEGY #4 ALLIANCES & PARTNERSHIPS #5 MARKET ORIENTATION #6 CUSTOMERS #7 4Ps www.linkedin.com/in/anilyerra

7 Essentials of IT Marketing#1PRODUCTS & SERVICESIT industry products & services demand a differentapproach compared to traditional products & services Image: renjith krishnan / FreeDigitalPhotos.net Image: Idea go / FreeDigitalPhotos.net Image: Pixomar / FreeDigitalPhotos.net Image: worradmu / FreeDigitalPhotos.net Image: anankkml / FreeDigitalPhotos.net Essentially Solutions! High-Tech in nature Introduced in unstable Unfamiliar (software and disorganised packages, chips etc.) conditions unlike familiar products like Coke etc. www.linkedin.com/in/anilyerra

7 Essentials of IT Marketing#2ENVIRONMENTDue to high degree of ambiguity, error margin issmaller when compared to conventional markets Image: renjith krishnan / FreeDigitalPhotos.net Market Technological Uncertainty (current needs, Uncertainty future requirements, (performance, standards, market delivery timelines, size, speed of Competitive quality, side-effects, adoption etc.) obsolescence) Volatility (Changes in the eco- systems and competitive arena) www.linkedin.com/in/anilyerra

7 Essentials of IT Marketing#3STRATEGYDemanding technology-intensive markets andopportunities warrant a faster and simpler strategy Image: renjith krishnan / FreeDigitalPhotos.net Who are the target customers? Must create a clear What is the Must maintain a Competitive offering? When to enter the Culture Advantage! market? How to Encouraging execute? Innovation • Creative destruction* • Corporate imagination* • Expeditionary marketing** As explained in reference 1 www.linkedin.com/in/anilyerra

7 Essentials of IT Marketing#4PARTNERSHIPS & ALLIANCESWorking jointly is vital due to several inter-dependentforces, shorter time cycles and high costs and risks Image: renjith krishnan / FreeDigitalPhotos.net Add new skill sets Sharing & cost Gain market clout efficiencies Complementary Relationship Improve Go-to- products and Marketing market services Innovations and Attack new markets new products Define industry standards www.linkedin.com/in/anilyerra

7 Essentials of IT Marketing#5MARKET ORIENTATIONSuperior products and services through cross-functional collaboration driven by the market pulse Image: renjith krishnan / FreeDigitalPhotos.net 1. Need to introduce customer oriented attitude to firm’s operations. Necessity significantly downplayed compared to other things 2. Departmental integration: ‘R&D – Marketing’ necessary Marketing Innovation R&D Inputs Process Knowledge Product / Service addressing customer need www.linkedin.com/in/anilyerra

7 Essentials of IT Marketing#6CUSTOMERSExpectations and fears of obsolescence are high, newtechnology adoption is an important decision Image: renjith krishnan / FreeDigitalPhotos.net Understanding Customers • Customer Behaviour • Decision making process • Early/late adopter of technology Formulate Strategies to avoid obsolescence in a market environment of high speed improvement and innovation www.linkedin.com/in/anilyerra

7 Essentials of IT Marketing#74 PsGeneral features of the IT environment can be betterunderstood by applying the standard framework Image: renjith krishnan / FreeDigitalPhotos.net Product Place Price Promotion • Technology map to • Complex Channel and • Complex pricing • Cost effective guide product Supply considerations environment leveraging of development in the high-tech • Buyer’s perceptions advertising and • Licensing technology market and pricing concerns promotion tools or commercializing • Diminishing • After-sales service • Strong brand and products? distinctions in supply pricing cobranding strategies • New product chain members • Unavoidable decline to allay customer development: ongoing • Integrating internet in prices over time anxiety management into existing • Technology Paradox • Product • Intellectual Property distribution channels preannouncements • ‘free’ to ‘fee’ trend protection • Influential role of • Integrated marketing • Transparent costs via channel members in communications to internet selling technology manage customer • Dynamic pricing relationships strategies www.linkedin.com/in/anilyerra

Thank You!References1. Marketing of High-Technology Products and Innovations by Jakki Mohr, Sanjit Sengupta and Stanley Slater (Second Edition)2. Asymmetric Marketing: Tossing the Chasm in the Age of the Software Superpowers by Joseph E. Bentzel (2006)3. Professional Services Marketing: How the Best Firms Build Premier Brands, Thriving Lead Generation Engines, and Cultures of Business Development Success by Mike Schultz and John Doerr (2009)4. Marketing IT Products and Services by Jessica Keyes (2010) www.linkedin.com/in/anilyerra

7 Essentials of IT Marketing

by Anil Yerra on Jun 16, 2011

Accessibility

Categories

Upload Details

Usage Rights

1 Embed 4

Statistics

7 Essentials of IT Marketing Presentation Transcript