This course deals with technology marketing and high tech innovation marketing in B2B markets. In the first part of the course B2B marketing concepts with special emphasis on technology innovation, buying center behaviour and marketability criteria will be introduced. Technology acceptance, technology resistance and assimilation gap will be discussed using real cases under soft real time conditions. Most of the cases are in the stage of market entry. Perceived usefulness, Perceived Ease of Use as well as the compliance of innovative features to the B2B standards will be worked out by the problem solving teams. B2B market segmentation, qualitative market research for valid selling arguments, multidisciplinary communication tasks, technology readiness as well as marketing readiness level topics, smart city topics and examples of marketing testbeds are discussed. Furthermore the Chasm phenomenon and theoretical approaches of social percolation explaining innovation propagation are subjects of the course.
The second part of the course is a group work. At the beginning of the semester, each group of students receives a task description which shall be executed during the semester under the supervision of a tutor. The aims of these teamworks are to identify and formulate problems in Innovation- and Technology marketing, to practically apply market research methods (mainly qualitative), to work in teams, as well as to strengthen presentation skills. Objective of the teamwork is also to decrease reservations towards innovative and strongly technically focused topics. Up-to-date topics coming from practice (e.g. from research and development projects, from industrial companies or start up enterprises) are formulated as teamworks that the students will work on. When possible and reasonable the task descriptions are discussed between tutors, students and customers (e.g. start-up enterprises).
After the course, students will know how to effectively manage qualitative market research with early prospects (potential customers), how to approach the prospects, how to evaluate technology acceptance /resistance and how to shape selling arguments / USP’s. Students will be able to identify sources of innovation inside and outside firm boundaries. Students will be familiar how to evaluate innovation half-life in B2B markets in relation to the best known competitor. Finally, students will be able to discuss important contemporary marketing trends which will allow them to be up-to-date with leading-edge B2B-marketing.
Apart from that, completing this course contributes to students’ ability to apply their marketing knowledge in practical problem solving in a multidisciplinary buying center, to efficiently work and communicate in teams, and to improve their oral presentation skills. Students will extend their knowledge in qualitative market research as an effective tool to translate innovative components into effective B2B marketing strategies.
All students have to be present in class during all course lessons.
The course consists of some theoretical inputs:
- introductory lecture on High Tech Innovation marketing in B2B markets
- theory lecture on topics in technology marketing and innovation marketing (e.g. technology acceptance/rejection, technology readiness level, market readiness level, assimilation gap, business models, etc.)
The main part of the course is the group work (including presentations by students; 2 intermediate and 1 final presentation by student teams). Additionally to the presentations a report has to be provided for the company representatives. Individual coaching sessions with the tutors and / or company representatives complete the course design.
Grading (percentage) is based on
a) active contribution to the teamwork by self-evaluation of the group-members (10%)
b) presentation and discussion in two intermediate reporting sessions with the external managers and the tutors (30%)
c) presentation and discussion of results in final reporting session with the external managers and the tutors (17%)
d) final, written report with reference to the lecture, the literature and the class discussions (43%).
Project work will be guided by coaching.
This course is part of the portfolio of elective courses of the Master of Science in Marketing program at WU. The course imparts in-depth knowledge in one or multiple selected specialized fields of marketing. The course builds on a strong foundation in marketing knowledge and skills which students acquire during the first year of WU's MSc Marketing program (this first year comprises 62.5 ECTS credits in total).
For MSc Marketing students, the successful completion of the following courses is a prerequisite for the admission to this elective course:
- Customer-Centric Management (7.5 ECTS)
- Consumer and Buyer Behavior (5 ECTS)
- Marketing Research Design and Analysis (7.5 ECTS)
Additionally, MSc Marketing students are prepared for this elective course by taking courses in the following fields during their first year:
- Global Marketing Strategy (5 ECTS)
- Marketing Communications (7.5 ECTS)
- New Product Development and Brand Management (7.5 ECTS)
- Marketing Engineering and Marketing Models (5 ECTS)
- Marketing Metrics and Performance Measurement (5 ECTS)
Moreover, this elective course builds on 45 ECTS credits in business administration which students had completed in order to be admitted to WU's MSc Marketing program.