Content & Schedule
3-Day Program in Managing High Tech Innovation & Marketing
Program Faculty:
Prof. Tom Kosnik, Consulting Professor, Stanford University & Managing Director, The Chasm Group (TCG) Advisors LLC
Assoc. Prof. Wong Poh Kam, NUS Business School & Director, NUS Entrepreneurship Centre
The aim of the program is to provide senior management of high tech firms with key insights on managing high tech innovation and marketing. The fast-pace program will provide the conceptual framework for understanding the dynamics of innovation and technology life-cycle, how they drive market developments and the emergence of the "chasm" challenge, and the key lessons from successful companies in chasm crossing and prospering beyond the chasm.
The program is based upon the methodology developed by The Chasm Group (TCG), but incorporates new extensions and adaptations to the contexts of Asia, particularly the international chasm crossing challenge of high tech firms from Asia. These new insights are derived by Prof Kosnik and Prof Wong based upon their 3-year joint research on the internationalization strategies of high tech start-up firms in Asia and Silicon Valley.
At the end of the program, the participants are expected to be able analyze the nature of any product/service innovation their companies intend to bring to market, where it fits within the technology/market maturity life cycle, and the appropriate type of innovation strategy to be adopted. They will also be conversant with the specific analytical tools to translate their innovation into a concrete marketing strategy, including the 9-point marketing strategy formulation checklist, the four market development models, and the four international chasm crossing approaches.
Day 1
Understanding the Dynamics of Technology Life-Cycle
Key topics covered:
- Dynamics of Innovation and Technology Life-Cycle
- Disruptive vs Incremental Innovation
- Case Analysis & Discussion
- Managing Across the Technology Adoption Life-Cycle
The focus of the first day of the program is to introduce the concept of Technology and Market Maturity Life Cycle, to identify the need for different types of innovation strategies across the different stages of the Life Cycle, and to provide a comprehensive roadmap of the different types of innovation strategies. Many concrete examples will be provided to illustrate the concepts introduced, and a specific case from the ICT industry (IP telephony) will be used for in-depth class discussion. Participants will also be asked to develop life cycle analysis of a selected product/service innovation of their own organization and industry, and to present them to the class for concrete feedback and iterative refinement.
Day 2
Crossing the Chasm
Key topics covered:
- Market Development Dynamics & the Chasm Crossing Challenge
- The Whole Product Concept
- Case Analysis & Discussion
- Strategy for Chasm Crossing
The focus of the second day of the program is to cover the core concepts of the Crossing the Chasm methodology for high tech market strategy formulation. We will elaborate on the technology adoption life cycle and category maturity life cycle framework, introduce the four market development models (early market, bowling alley, tornado and main street), define in details each component tool of the 9-point marketing strategy formulation checklist, and provide concrete examples to illustrate how these tools can be applied. Participants will be asked to apply the 9-point strategy checklist to prepare for a company case assignment and present their analysis in class. Participants will also be asked to use the 9-point strategy checklist to begin preparing a marketing strategy for their own product/service.
Day 3
Key topic covered:
- International Dimension of Chasm Crossing
- Case Analysis & Discussion
- Competing in the Hyper-Growth Phase: Surving the Tornado
- Competing in the Mature Phase: Innovating within the Established Enterprise
In the third and final day of the program, we will examine the specific challenges of Crossing the Chasm internationally, particularly in the Asian context. We will highlight the four generic strategies for international chasm crossing, and illustrate them with concrete examples from the global wireless industry. An integrative Asian company case analysis will be used to synthesize the application of the various key concepts of the program. Depending on participants’ industry and product/service innovation focus, we will provide further elaborations of selected market development models (e.g. tornado, main street) using relevant product/service innovations from the participants’ companies.
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