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Marketing Strategies for the New Economy

ISBN: 978-0-471-49211-5
260 pages
March 2001
Marketing Strategies for the New Economy (0471492116) cover image

Description

Two men meet a big bear in the forest. One of them sits down to put on his running shoes. The other looks at him and says: "It's no use. You cannot outrun a bear anyway". The first one answers: "I don't have to outrun the bear. I just have to outrun you."

Speed against competitors is just one of the key lessons outlined in this book from Lars Tvede and Peter Ohnemus. E-business is here for good and people are waking up to the fact that traditional marketing techniques may not stand up to new requirements set out by the "new economy". The question is, "which of the traditional techniques still work, and which techniques need to be revamped?" The authors outline marketing strategies that use traditional methods where appropriate but, where required, introduce new techniques. These techniques are part of a new, distinctive school of thought in marketing - the 'Digital School of Marketing'. Traditional marketing schools, for example, have observed the importance of moving fast - in the Digital School fast is not just important, it is crucial: it took Microsoft ten years to reach 100 million dollars in revenue, AOL spent nine years, Yahoo! spent five years, Onsale four, Amazon three, and Priceline spent just one and a half years reaching 100 million dollars in revenue. Speed is just one of the key lessons to learn from this book. Whether you are an entrepreneur out there on your own or a marketer in a large company, read on to discover how you can temper your marketing strategies to bring them in line with what is required today.

Synopsis

The high tech industry is expanding and will continue to expand rapidly. Every year it attracts new professionals, some of whom come from other industries that are very different in nature, especially where marketing is concerned. Also, these individuals, whilst technically very able, have limited understanding of marketing. This book will be the definitive guide to anyone involved in the marketing of high tech products and, as such will fill a gap for a book that describes all aspects of marketing management as practised by the most successful executives in the high tech industry. Although there is a plethora of books on the subject of the digital economy, e-commerce and high tech marketing this is the first book to actually provide a comprehensive understanding of the dynamics of the high tech markets. It also contains information on how companies in this sector need to position themselves correctly so that they can capture value; and to provide the information for the creation of a strategy to leverage their resources through co-operation with other companies.

While some aspects of marketing strategy apply across many sectors, there are a number of factors that are distinctive to high-tech businesses. It is therefore of value to any manager in the high-tech industry to understand the specific challenges and opportunities that a marketing strategist will confront when operating within the high-tech industry. Marketing Strategies for the New Economy provides clear explanations of how and where value and profits typically are generated in the high-tech business and how management can develop and execute strategies to position their high-tech companies for lasting success. To give the book a practical edge beyond these concepts, the authors present a "critical path" which is a coherent framework that pulls together these concepts, enabling the reader to implement a winning strategy in this highly competitive field. This work is designed to provide a comprehensive understanding of the dynamics of the high tech markets. It presents examples of marketing plan structures, a high-tech marketing audit, and a chronology of major marketing breakthroughs.
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Table of Contents

Introduction. Part 1: What's so special about high tech markets? Chp 1: Commercial structures of high tech markets. 2. Basic forces that drive change in high tech markets. 3. How high tech eco-systems evolve over time. 4. The overall behaviour of high tech markets.

Part 2: Strategic Marketing in high tech: the key challenges. Part 3. Finding the value. Part 4. Critical Path
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Author Information

Lars Tvede holds a Master's degree in Engineering and a Bachelor's degree in International Commerce. He spent 11 years in investment banking before moving to the high-tech and telecommunications industries in the mid 1990s. In 1996 he co-founded The Fantastic Corporation, a broadband software company that was taken public on the Frankfurt Stock Exchange by Goldman Sachs less than three years after its foundation. Lars Tvede has also been a seed investor in other successful high-tech / new media start-ups, and sits on the board of several of these. Previous book titles written by Tvede include: International Marketing Planning. The Psychology of Finance, Business Cycles - from John Law to the Internet Boom and Data Broadcasting - the Technology and the Business. He is a frequent speaker at international congresses on broadband, new media and convergence. Peter Ohnemus is one of Europe's most successful new economy entrepreneurs. He has been part of four different start-ups that made their way to the IPO-COS, Sybase, Logic Works and The Fantastic Corporation, where he is co-founder and Vice Chairman. He also works closely with standards bodies, universities and research institutes around the world to drive the development of broadband multimedia. In 1999 he was awarded 'Entrepreneur of the Year' of Switzerland. Peter Ohnemus is a frequent commentator in trade and business press as well as on television. He currently sits on various boards, including Rothschilds Bank, CommerceOne, Go4Equity.com, Remote-1, MediaGateway and Fantastic.
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Reviews

"the advice is sound and it's a must for any Web site having traffic problems." (Internet Works, June 2001)

"..an excellent book which manages to make this topic an interesting read.." (M2 Communications, 5 April 2001)
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