Teaching Plan: Session 1 - Columbia University
The Relative Implications of RIDE for Marketing Communications & Promotional Tactics
|Strategic RIDE |Targeting |Medium |Message |
|Situation | | | |
|Technological Risk |More targeted, early adopters; Premium |No mass advertising; Highly targeted: (Internet, tradeshows, free |Technology solution & |
| |price |trials/demos, PR in tech/professional magazines, |features (“Pull”) |
| | |grass-roots/consumer promotions) | |
|Marketing Risk |Broader audience; |Mass advertising, broader interest magazines; More channel |Word of mouth, |
| |Lower price |incentives to “push” product |everyone uses it, |
| | | |referenceability |
|Industrial goods |Slow & low scaleability; Segmentation & |Local demos & publications; More channel incentives to “push” | |
| |targeting is geography-based; |product; Conservative spending on communications & promos due to | |
| |Channel incentives to push |need to coordinate w/ manufacturing capacity | |
|Information goods |Faster growth & high scaleability; |Greater investment in advertising & promotions – no coordination | |
| |Segmentation & targeting more user-based |issues with manufacturing capacity constraints or timing issues; | |
| |and global (less geographic); |Global (Internet distributed) demos & publications; Samples and | |
| |Target lead users |“experience” important (free trial & razor-blade tactics); | |
| | |Tell a new story to generate buzz and create “pull” (using mass | |
| | |advertising for B2C; PR and targeting lead users for B2B; | |
|Elastic Demand |Typically means a broader market of main |Mass communications (if consumer market), referenceability, Word | |
| |stream (MRKT Risk) and low price |of mouth | |
|Inelastic Demand |Typically means early adopters looking | | |
| |for features (Tech Risk) and high price | | |
|Homogenous Demand | |Mass advertising |Broad-based |
|Heterogeneous Demand |Different target segments |Marketing communication is more complex; Numerous different |Customized and |
| | |channels; Tradeshows with multiple versions; Mass advertising |segment-specific |
| | |cannot work | |
|High Externalities |As many as fast as possible; |Greater upfront marketing communications & promo investment for | |
| |Sacrifice revenues & profits upfront for |creating awareness; | |
| |subsequent dominance; Sacrifice (cost) |Mass advertising + grass roots/gorilla/viral marketing; “free” | |
| |effectiveness for greater speed; “Spend |product promotions (seeding the market & razor-blade tactics) | |
| |now for a better future” |Note that this works (especially mass ads) when high | |
| | |Externalities + Info good + homogenous Demand + early stage. | |
| | |Later, try to reach “positive economics” of MRKT dollars | |
|Low Externalities |Ensure high quality and (customer) |Marketing communications and promotions investments spread over | |
| |revenue / profitability first; Keep cash |time | |
| |burn @ reasonable rate; “Save now for a | | |
| |better future” | | |
| | | | |
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MarCom Investment
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MarCom Investment
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