Marketing of Technologies          2012                            4 innovation                            ecanetti@4innov...
I. What is Marketing?                                          Index              II. The Value Proposition              I...
Chapter I. What is Marketing? 4 P’s Marketing Mix         The Product: your value proposition         The Place: who wil...
The Product: Placing the Customer in the Center Key elements of a customer centered organization:         The most import...
The Product: Offer a Value Proposition The Features and Benefits Analysis allows to convert:              Features        ...
The Place: Create A Brand For Your Institution  A brand is a collection of images and ideas associated with your   organi...
The Place: The Brand Of Your Institution  Technology marketing: breaking the stigmas, new technology is   very risky  Wh...
The Promotion: Customer Attention Window  How much time will the customer spend on your message  What’s the competition,...
The Promotion: Channels Where do the customers look for technologies?         Technology offers         IP brokerage web...
Determining the technology price For the inventor or TTO, the technology price is the collection of payments received from...
Summarizing the Marketing Mix The Tech Transfer must prepare a plan for potential market segments, based on a Marketing Mi...
Chapter II. The Value Proposition Common misconceptions:         Marketing is underestimated by scientists         Marke...
Marketing Advantages                      Bias: Technology marketing doesn’t work!    Reality:          • Most leads come ...
Understanding Industry Selling is the art of helping someone to get something they need or finding a solution to their pro...
Value Proposition        Value Proposition is the proposition which connects the     product’s attributes (FEATURES) with ...
Game: Discover The Value Proposition 1. Read marketing descriptions 2. Identify the value propositions 3. Use the “so what...
Examples From Website Postings            A Novel Tunable Micro-Disk            This invention discusses a micro-scale opt...
Examples From Website Postings, Cont’.            Artificial Vision for the Blind            Visual cortex recruited to se...
Examples From Website Postings, Cont’.            Compositions and Methods for Treating Diabetes and Related            Di...
Web Postings Major Flaws!  Capture the readers attention in the first 15 - 20 seconds (use   titles and subtitles)  Use ...
Start by defining The Competitive Advantage         Competitive Advantage: your technology must provide a unique         c...
Features And Benefits Features:        • Can be proven                                      Features don’t sell        • A...
F&B Examples Key Features         Depending on a persons motivation and ability, the basis for the seeing-through        ...
F&B Examples, Cont’. Our Innovation         Identification of a hormone-like molecule - produced in response to starvatio...
Chapter III. Marketing Campaigns                    How do you reach potential licensees?         The Shotgun Approach    ...
Marketing Campaigns: Shotgun Approach Sending emails and snail mailings Sending bunches of technology offers It seems effe...
Marketing Campaigns: the Rifle Approach Target specific industry sectors Target the right person within the company:      ...
The Non Confidential Package The Non Confidential Package consists of:         Features Benefits Description         Iss...
Sales Calls: the Old Fashion Way If you haven’t received a response, send a reminder If they don’t answer you, call them I...
Successful Marketing Campaigns  Target the right audience  Deliver the right industry specific message  Focus on benefi...
Chapter IV. Market Research A market exists when technology is used as the basis for products/services that deliver meanin...
Market Research Resources 1. Subscription resources:              Hoover’s, D&B, Zoominfo, Science      Direct, Delphion 2...
Market Research: intellectual property Citation analysis:         Unlicensed patent? Check if it has been cited         ...
Patent Sites  US Patent and Trademark Office: www.uspto.gov  European Patent Office and the World Intellectual      Prop...
Science search engines    Life Sciences:    www.biopharma.com    www.clinicaltrials.gov/ct/gui    www.fdcreports.com    ww...
Company Financial InfoPrivate Subscription sources:www.buscom.com; www.business.comwww.corporateinformation.com; www.corpt...
And to summarize:  Define the Value Proposition of your technology by identifying   Features and Benefits  Communicate t...
4 innovationinfo@4innovation.comElena Canetti - Israel Partnerecanetti@4-innovation.com
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12 marketing presentation v4i-intangible

  1. 1. Marketing of Technologies 2012 4 innovation ecanetti@4innovation.com
  2. 2. I. What is Marketing? Index II. The Value Proposition III. Marketing Campaigns IV. Market ResearchMarketing of Technologies 1
  3. 3. Chapter I. What is Marketing? 4 P’s Marketing Mix  The Product: your value proposition  The Place: who will persuade your customers and why the will believe you  The Promotion: where and how your customers will find you  The Price: what kind of price you can get Marketing of Technologies 2
  4. 4. The Product: Placing the Customer in the Center Key elements of a customer centered organization:  The most important decision is the decision to buy  The decision to buy takes place in the mind of the customer  Marketing is looking at everything we do through the eyes of the customer  Who are our customers? Our potential Licensees Marketing of Technologies 3
  5. 5. The Product: Offer a Value Proposition The Features and Benefits Analysis allows to convert: Features to Advantages Advantages to Benefit Features and Benefits Identifies why the customer values the product: the Value Proposition Marketing of Technologies 4
  6. 6. The Place: Create A Brand For Your Institution  A brand is a collection of images and ideas associated with your organization  Creates expectations in the mind of your customer about your products  Refers to concrete symbols such as name, logo and slogan  A symbolic embodiment of all the info connected to your institution Marketing of Technologies 5
  7. 7. The Place: The Brand Of Your Institution  Technology marketing: breaking the stigmas, new technology is very risky  What experience has your institution in supporting new product development  Use brand to create expectations such as reliability, expertise, utility, trust Marketing of Technologies 6
  8. 8. The Promotion: Customer Attention Window  How much time will the customer spend on your message  What’s the competition, who are the key players, how many messages they deliver per day  Get and hold the attention: by offering the value proposition Marketing of Technologies 7
  9. 9. The Promotion: Channels Where do the customers look for technologies?  Technology offers  IP brokerage websites  Scouting  Advertising in scientific journals  Trade shows What information sources are trusted? Marketing of Technologies 8
  10. 10. Determining the technology price For the inventor or TTO, the technology price is the collection of payments received from the Licensee:  License fees and Milestone payments  Royalties and Sublicense consideration  Minimum Annual Maintenance Fee For the licensee … the technology price is related to the future stream of revenue from selling the product at the market’s price, DISCOUNTING the risk of the licensee’s investment. Marketing of Technologies 9
  11. 11. Summarizing the Marketing Mix The Tech Transfer must prepare a plan for potential market segments, based on a Marketing Mix:  Product: focus on the customer view  Place: brand the value of your institution  Promotion: get attention by promoting  Price: valuate your technologies correctly Marketing of Technologies 10
  12. 12. Chapter II. The Value Proposition Common misconceptions:  Marketing is underestimated by scientists  Marketing is considered superfluous  We don’t have time for marketing Technology Marketing is an effective tool and plays an important role in tech transfer. The TTO must know the value proposition of the technology in order to communicate it in a clear manner Marketing of Technologies 11
  13. 13. Marketing Advantages Bias: Technology marketing doesn’t work! Reality: • Most leads come from sources identified by inventors • Most universities don’t have resources and expertise for marketing However… • Marketing is essential for generating leads for technologies with no existing prospects • Marketing analysis helps define clearly and concisely the value proposition! Marketing of Technologies 12
  14. 14. Understanding Industry Selling is the art of helping someone to get something they need or finding a solution to their problem: • Address the industry’s interests • Get to know the industry’s needs Selling = solving problems! • Expand product line • Reduce manufacturing costs • Increase profit margins and market share Communicate with industry in their own language Marketing of Technologies 13
  15. 15. Value Proposition Value Proposition is the proposition which connects the product’s attributes (FEATURES) with the creation of value for users (BENEFITS) It Is the key to attracting customer’s attention Marketing of Technologies 14
  16. 16. Game: Discover The Value Proposition 1. Read marketing descriptions 2. Identify the value propositions 3. Use the “so what" methodology: relating features to benefits 4. Rate on a scale of 1 to 10 how difficult it is to ascertain the value proposition Marketing of Technologies 15
  17. 17. Examples From Website Postings A Novel Tunable Micro-Disk This invention discusses a micro-scale optical device that includes a tunable micro disk resonator possessing a high quality factor. The device comprises of a waveguide and a micro-disk, optically coupled to the waveguide. The high quality factor allows for a single photon to interact several times with the same atom, ion or molecule so that a significant interaction can be achieved. However, this strong coupling can be reached only if the optical device is kept in strict resonance with the frequency similar to that of the desired quantum transition, and hence the crucial importance of the tuning mechanism offered by this invention. Although most of the light intensity is confined within the disk, a small part of it exists as an evanescent field outside the disk. This external light can interact with the particle we want to measure and this coupling alters the optical properties of the disk mode and consequently changes the intensity or phase of the light at the output port of the linear waveguide. The ability to measure these changes enables the detection of the presence of the external particles. Marketing of Technologies 16
  18. 18. Examples From Website Postings, Cont’. Artificial Vision for the Blind Visual cortex recruited to see using alternative senses, "soundscapes" and touch. Categories: Artificial vision, Medical applications Development Stage: Prototype has been used to train blind individuals to “see” using sound and touch after several training sessions Patent Status: PCT filed Market : About 2.6% of the total population of the world are visually impaired of whom about 0.6%, around 38 million people, are blind Highlights: Artificial vision system for sight restoration using sensory substitution devices (SSDs), which utilize small cameras that convert visual information to auditory (or tactile) input. Blind people use the visual cortex, which is normally used in processing sight, to process sound and touch and enhance their memory and language capabilities Marketing of Technologies 17
  19. 19. Examples From Website Postings, Cont’. Compositions and Methods for Treating Diabetes and Related Disorders: Approach based on physiological response to starvation Categories: Small molecule, Diabetes, Development Stage: In vivo trials Patent Status: Provisional patent filed Market: WHO estimates that there will be 366 million people with diabetes worldwide by 2030 Highlights: Famine is one of the most powerful selective forces that shape the evolution of our physiology. Modern society is experiencing the opposite situation with an ensuing epidemic of obesity (=the metabolic syndrome), accompanied by a surge of type 2 diabetes (T2D). Our Innovation: Identification of a hormone-like molecule - produced in response to starvation - that can cause insulin-resistance. Thus, an uncontrolled activation of this signal might account for the development of the metabolic syndrome. Marketing of Technologies 18
  20. 20. Web Postings Major Flaws!  Capture the readers attention in the first 15 - 20 seconds (use titles and subtitles)  Use plain smart language: most technology descriptions will not get read in full  Talk business, not science: business people do not always have a science background  Use Figures and Images (“eye catchers”)  Present a Value Proposition They are looking for the Value Proposition for their company rather than scientific aspects! Marketing of Technologies 19
  21. 21. Start by defining The Competitive Advantage Competitive Advantage: your technology must provide a unique competitive advantage to the potential licensee Value Proposition to the Licensee: the combination of unique advantages provided by the technology Feature and Benefits statements: this is the way to communicate the Value Proposition Marketing of Technologies 20
  22. 22. Features And Benefits Features: • Can be proven Features don’t sell • Are specific Benefits: • Relate to customers needs Benefits sell • Show clear value • Are a reason to buy Marketing of Technologies 21
  23. 23. F&B Examples Key Features  Depending on a persons motivation and ability, the basis for the seeing-through sound language may be learned in 10 to 20 hours.  Low-cost, non-invasive system works for sight-impaired people of any age regardless of the cause or severity of their disability  Bestows independence on the sight impaired without need for surgery or additional aids such as guide dogs Development Milestones  The next step is to introduce the system more widely to children and others and develop improved algorithms and friendlier set-up design  Seeking cooperation with teachers and organizations for the blind to recruit candidates to learn the system and try it The Opportunity  Eventually, SSDs may be integrated into medical devices employing other inputs, such as touch and echolocation (similar to the use of sounds echoes in bats and dolphins), to comprise a multisensory substitution for vision. Marketing of Technologies 22
  24. 24. F&B Examples, Cont’. Our Innovation  Identification of a hormone-like molecule - produced in response to starvation - that can cause insulin-resistance. Thus, an uncontrolled activation of this signal might account for the development of the metabolic syndrome. Screening for novel compounds that could intercept this signal lead to the discovery of a low molecular weight compound that can serve as a drug-candidate to treat T2D. Key Features  Low molecular weight (>350) drug-like compound  Non-toxic (at >X10 of the therapeutic dose)  Orally bioavailable  A candidate biomarker for the monitoring of T2D in humans. The Opportunity  Of the estimated 23.6 million people in the United States with diabetes, 90-95% have T2D. Early detection of T2D evolvement can prevent severe consequences by employing simple treatment Marketing of Technologies 23
  25. 25. Chapter III. Marketing Campaigns How do you reach potential licensees? The Shotgun Approach The Riffle Approach Marketing of Technologies 24
  26. 26. Marketing Campaigns: Shotgun Approach Sending emails and snail mailings Sending bunches of technology offers It seems effective (wide outreach)… however…  People just delete these emails without reading  Requires sizable resources Marketing of Technologies 25
  27. 27. Marketing Campaigns: the Rifle Approach Target specific industry sectors Target the right person within the company: • Typically: VP Business Development/ VP R&D MINUS: requires additional time and effort to identify target PLUS: greater likelihood of success Marketing of Technologies 26
  28. 28. The Non Confidential Package The Non Confidential Package consists of:  Features Benefits Description  Issued Patents  Published Patent Applications (PCT or US)  Relevant Scientific Published Articles Send packages electronically! Marketing of Technologies 27
  29. 29. Sales Calls: the Old Fashion Way If you haven’t received a response, send a reminder If they don’t answer you, call them If they are interested, organize:  Signature of a NDA (confidentiality agreement)  Conference call with researchers  Send unpublished patent applications for their review  Send unpublished articles and research plans  Send detailed scientific/technological presentation Marketing of Technologies 28
  30. 30. Successful Marketing Campaigns  Target the right audience  Deliver the right industry specific message  Focus on benefits to industry  Know your Technology’s Value Proposition and communicate it in a concise, clear manner! “Look at your IP portfolio and group technologies so that they can be marketed more strategically. A bundle of related innovations is more attractive than a single technology”. Sherylle Mills Englander, JD director in the OTIA At the University of California in Santa Barbara. Marketing of Technologies 29
  31. 31. Chapter IV. Market Research A market exists when technology is used as the basis for products/services that deliver meaningful value to a group of customers with common needs Market research can give you answers:  Do you have a technology or a product?  Which market to pursue first?  What is the value proposition?  What is the largest contribution to end users?  How big is the opportunity? Marketing of Technologies 30
  32. 32. Market Research Resources 1. Subscription resources: Hoover’s, D&B, Zoominfo, Science Direct, Delphion 2. Market Research Firms: Hoovers, Frost and Sullivan, BCC, Gartner, CorpTech 3. Aggregators: Marketresearch, Insitepro, Recap 4. Free info on the web: Publications, patents, company websites, government databases 5. Other third neutral parties: Associations, universities, government labs, etc. Marketing of Technologies 31
  33. 33. Market Research: intellectual property Citation analysis:  Unlicensed patent? Check if it has been cited  No patent filed? Check for closest matches  Patent Mapping:  Analyze your portfolio  Cluster and find matching patents  What are the families of assignees?  What do they focus on? Marketing of Technologies 32
  34. 34. Patent Sites  US Patent and Trademark Office: www.uspto.gov  European Patent Office and the World Intellectual Property Organization: http://ep.espacenet.com  IP Digital library: http://ipdl.wipo.int Marketing of Technologies 33
  35. 35. Science search engines Life Sciences: www.biopharma.com www.clinicaltrials.gov/ct/gui www.fdcreports.com www.pharmalicensing.com www.ncbi.nlm.nih.gov/PubMe d Physical Sciences: www.isadirectory.org www.techsavvy.com www.globalspec.com www.sensorsmag.com www.techreview.com Marketing of Technologies 34
  36. 36. Company Financial InfoPrivate Subscription sources:www.buscom.com; www.business.comwww.corporateinformation.com; www.corptech.comwww.dnb.com/us; www.frost.comwww.gartner.com; www.hoovers.comwww.investorguide.com US Government Databases Www.cos.com www.oit.doe.gov www.ta.doc.gov/reports.htm www.sec.gov Marketing of Technologies 35
  37. 37. And to summarize:  Define the Value Proposition of your technology by identifying Features and Benefits  Communicate the value proposition of the technology to your potential customers in a simple, precise and concise form  Design a focused marketing campaign, identifying the right target markets, the key players and contacts within the company  Use market research to analyze the market size, spot opportunities, identify competitors and key players, learn about your potential licensee. Marketing Works! Marketing of Technologies 36
  38. 38. 4 innovationinfo@4innovation.comElena Canetti - Israel Partnerecanetti@4-innovation.com

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