Successful ventures provide products and services that take customer needs into account at every stage of development. In this course, you will learn how marketing is essential throughout all phases of innovation. Through dynamic, hands-on exercises and real-world applications, you will develop the skills and knowledge to maximize commercial success. Use marketing techniques and strategy to understand the customer's evolving needs and a product's market potential in order to optimize the allocation of resources.
Learn How To
Create markets while creating products
When marketing works in parallel with product development, you increase your chance for commercial success because the product is designed to meet the needs of real customers. Learn to identify target customers, get to know their needs and build trust and credibility. Learn why listening to customers and observing them are critical to developing and launching the right product.
Measure marketing success and turn data into action
Measuring performance is one of the most critical tasks when bringing something new to market. Learn how to measure the contribution of marketing to the success of your go-to-market campaign. Learn about the current state of marketing measurement and the basics for building a marketing program. Learn to evaluate market development, analyze market need, evaluate potential partners, develop a clear positioning statement, and much more.
Identify, understand, and quantify your target market
The Marketing Toolkit consists of twelve marketing tools used globally to develop and deliver innovative products and services. Learn how to apply these tools to real products including your own.
Use the Marketing Innovation Framework and Toolkit
Learn to evaluate market development, analyze market need, evaluate potential partners, develop a clear positioning statement, and much more. Using frameworks and methodologies from the marketing innovation toolkit you will be able to answer questions such as: Who are the right target customers for my new product or service? What “whole product” will create a compelling reason for each target segment to purchase my product or service? How can I differentiate my product or service so that it stands apart from the competition? Which partners should I select to delight my target customers?
Thomas Kosnik, Lecturer of Management Science and Engineering, Stanford School of Engineering, Stanford University
Lynda Kate Smith, Lecturer of Management Science and Engineering, Stanford School of Engineering, Stanford University