MaRS Library Page 35
When does licensing your technology for further financing make sense? Starting a business is a significant undertaking. Licensing your technology idea might make good sense if you’re more interested in having your research or invention commercialized for use than in creating a startup. A startup may also consider licensing a … Read More
Researching a market? Our free online course Introduction to Market Sizing offers a practical 30-minute primer on market research and calculating market size. Barriers to entry are factors that prevent a startup from entering a particular market. As a whole, they comprise one of the five forces that determine the … Read More
Read time: 3 mins In their 1997 book, The Discipline of Market Leaders, authors Michael Treacy and Fred Wiersma describe three competitive strategies, or value disciplines: Operational excellence Customer intimacy Product leadership They argue companies must achieve market leadership for one competitive strategy and perform adequately with the other two. … Read More
Researching a market? Our free online course Introduction to Market Sizing offers a practical 30-minute primer on market research and calculating market size. The purpose of the market analysis is to help you better understand the dynamics involved in selecting and targeting customers for your product. To conduct the market analysis, … Read More
When startups develop their marketing communications, they must tailor their message to reach early adopters—both technology enthusiasts and visionaries. Note that the complexity of the marketing communication topic makes it too broad to cover in one article. This article is one of a series of six that covers the field … Read More
The market development strategy is a declaration of intent that provides the strategic direction for a startup’s go-to-market programs (that is, sales strategy, marketing communications, product strategy). The strategy is expressed using the market development strategy checklist (MDSC). The MDSC is a set of assumptions (blueprint) around which a strategy … Read More
Read time: 3 mins Marketing communication (MarCom) is complex. Generally, it refers to the messages/media (e.g., advertising, direct marketing, branding) you deploy to communicate with your market. MarCom needs to balance two strategic objectives: Building product demand/preference (which involves positioning) Shortening the sales cycle (which involves understanding the buying process) … Read More
A tech startup’s marketing message is a key instrument to reach your target customer. It forms part of an important communication process that changes depending on a company’s stage in the technology adoption lifecycle (TALC). The image below shows the fundamental communication cycle, or process. Note that critical elements include the audience, … Read More
A marketing plan is a systematic process of evaluating marketing opportunities and resources, determining marketing objectives, and developing a plan for implementation and control. It outlines a startup’s strategy to create, satisfy and maintain customers. The marketing plan links marketing activities with marketing and strategy objectives and is important in … Read More
A mission statement outlines a startup’s underlying motivation for being in business. It spells out the contribution to society that the organization aspires to make. The mission statement is not a strategic objective, but rather the basis on which the strategic objectives and strategic plan are developed. This ensures that … Read More
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