12 marketing presentation v4i-intangible

Marketing of Technologies

2012

4 innovation

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Marketing of Technologies

Index

I. What is Marketing?

II. The Value Proposition

III. Marketing Campaigns

IV. Market Research

1

Marketing of Technologies 2

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

Chapter I. What is Marketing?


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

The Product: Placing the Customer in the Center


The Features and Benefits Analysis allows to convert:

Features to Advantages

Advantages to Benefit

The Product: Offer a Value Proposition

Features and Benefits Identifies why the customer values the

product: the Value Proposition


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

The Place: Create A Brand For 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

The Place: The Brand Of Your Institution


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

The Promotion: Customer Attention Window


Where do the customers look for technologies?

Technology offers

IP brokerage websites

Scouting

Advertising in scientific journals

Trade shows

The Promotion: Channels

What information sources are trusted?


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

Determining the technology price

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.


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

Summarizing the Marketing Mix


Common misconceptions:

Marketing is underestimated by scientists

Marketing is considered superfluous

We don’t have time for marketing

Chapter II. The Value Proposition

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


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 Advantages

Bias: Technology marketing doesn’t work!


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

Understanding Industry


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


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

Game: Discover The Value Proposition


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.

Examples From Website Postings


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


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.


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

Web Postings Major Flaws!

They are looking for the Value Proposition for their

company rather than scientific aspects!


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

Start by defining The Competitive Advantage


Features:

• Can be proven

• Are specific

Benefits:

• Relate to customers needs

• Show clear value

• Are a reason to buy

Features And Benefits

Benefits sell

Features don’t sell


Key Features

Depending on a person's 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.

F&B Examples


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

F&B Examples, Cont’.


How do you reach potential licensees?

Chapter III. Marketing Campaigns

The Shotgun Approach The Riffle 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 Campaigns: Shotgun Approach


Target specific industry sectors

Target the right person within the company:

• Typically: VP Business Development/ VP R&D

Marketing Campaigns: the Rifle Approach

PLUS: greater likelihood of success

MINUS: requires additional time and effort to identify target


The Non Confidential Package consists of:

Features Benefits Description

Issued Patents

Published Patent Applications (PCT or US)

Relevant Scientific Published Articles

Send packages electronically!

The Non Confidential Package


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

Sales Calls: the Old Fashion Way


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!

Successful Marketing Campaigns

“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.


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?

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


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.

Market Research Resources


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?

Market Research: intellectual property


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

Patent Sites


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


Company Financial Info

Private Subscription sources:

www.buscom.com; www.business.com

www.corporateinformation.com; www.corptech.com

www.dnb.com/us; www.frost.com

www.gartner.com; www.hoovers.com

www.investorguide.com

US Government Databases

Www.cos.com

www.oit.doe.gov

www.ta.doc.gov/reports.htm

www.sec.gov

http://www.buscom.com/



http://www.business.com/

http://www.corporateinformation.com/

http://www.corptech.com/

http://www.dnb.com/us

http://www.frost.com/

http://www.gartner.com/

http://www.hoovers.com/

http://www.investorguide.com/

http://www.cos.com/

http://www.cos.com/

http://www.cos.com/

http://www.oit.doe.gov/

http://www.ta.doc.gov/reports.htm

http://www.sec.gov/


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.

And to summarize:

Marketing Works!

4 innovation

[email protected]

Elena Canetti - Israel Partner

[email protected]


