MaRS

With the pace of innovation today, ideas have become cheaper than ever. Everybody has them. Your big idea in a crowded market is worth nothing... until you figure out how to competitively differentiate your product and connect with a market that cares.

MaRS Advisor Peter Evans joins us to discuss the very important topic of marketing. This session focusses on the unique marketing challenges faced by early stage technology companies. It also provides you with proven and practical principles for visioning new products, breaking into a market and building a sustainable business venture.

In this session you learn:

• Why marketing effectiveness often matters as much today as pure product innovation
• How to identify key market trends and better connect with the real needs of potential customers
• How to use “value innovation” methods to competitively design a product as faster, cheaper and better
• Pragmatic ways to position your product and quickly build market acceptance
• How effective marketing must connect to focused business development and sales channel efforts

Whether you are just starting out or fine tuning your marketing strategy, this session describes how marketing plays a key role in your venture.

Homework assignment

Don’t forget the homework assignment Peter gave at the end of last week’s lecture which could win you one of three prizes he brought back from CES.  (Hint: Watch the video for a reminder - the assignment is near the end.)

To be eligible to win, you must select one of three product failures Peter showcased in Lecture 1 (Segway, Apple Newton and Pets.com) and speak to why they failed to launch successfully in the market.  Be sure to apply some of the concepts discussed last week in your answers.  Please submit all entries by 3pm Wednesday, January 20, to pevans@marsdd.com to be eligible.  Good luck!

Part of CIBC Presents Entrepreneurship 101