MARKETNG 802 - Marketing of Innovation (formerly Marketing of High Technology)
This course is about marketing products and services that are seen by consumers as being highly innovative. Most new technology products fit into this category, although keep in mind that a highly innovative product one day can be quite blasé after it has been adopted. The focus of this course will be on the strategies that tech firms should adopt in technology intensive environments and not on the technology, per se; thus, you do not need to be an expert on technology in order to take this class. You only need to have an interest in the manner in which innovations affect our lives. For example, you will learn not only how to forecast hockey-stick trajectories but also learn why tomatoes in the U.S. are so hard and why we drive around in cars with gasoline and not steam engines.
New and innovative products have a unique problem – information on customers’ preferences is either unavailable or fraught with a lot of noise. As a result, firms have to make decisions in the face of incomplete and rapidly changing information. This requires firms to develop abilities to understand unarticulated customer needs and to be able to forecast the development of new markets.
No course textbook.