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Working with Inventors to Enhance Marketing Efforts Cathy Cohn Marketing Specialist Overview Marketing at NIST NIST’s Portfolio of Technologies Marketing Campaigns Tactical Marketing Commercial Assessment of Inventions TEDCO Showcase Marketing Marketing is about meeting the needs and wants of customers Customer = Licensees, Partners Look at everything we do through the eyes of the customer What We Market, NIST’s Portfolio Market Areas » Aerospace » Agriculture » Assistive Technologies » Biotechnology » Chemical » Civil Infrastructure » Communications » Computing » Cosmetics » Defense » Electronics » Energy » Environmental Technologies » First Responders » Healthcare » Homeland Security » Industrial Processes » Information Technology » Instrumentation » Manufacturing » Nanotechnology » Optics » Refrigeration » Semiconductor » Sensors » Spectroscopy » X-ray Marketing Campaigns Target Approach Target specific industry sector(s) Identify target companies INVENTOR Target the right person within the company Business development, VP development, product manager Person differs depending on size of company INVENTOR Initial contact –”cold call” Sales presentation –value proposition Handle technical questions INVENTOR Follow-up Marketing Mix The 4 P's of Marketing Product – What is the “value proposition” to attract potential customers? Connect invention features with benefits Should be clear as possible for the technology business audience INVENTOR Promotion – How will you promote the technology to your potential customers? Personal selling, website, showcase, advertising in the Federal Register, etc. INVENTOR -conferences, publications, showcases Place – Getting the product to the customer INVENTOR Price What price should you expect? Commercial Assessment of Invention Disclosures Review each invention to determine: Field(s) of use and application(s)? Target market, names of potential companies? What problem does the technology solve? What are the most valuable benefits of the technology? Is the technology unique? Or do competing technologies provide similar benefits? Is the industry large enough? Who is the competition? Any regulatory hurtles? Niches where this technology will be of Interest? What questions will potential customers ask? TEDCO Showcase NIST and NIH Technology Transfer and Commercialization Showcase NIH and NIST Technologies Discover and Commercialize Cutting Edge Bio-Imaging Technologies Oct 6, 2009 at NIST Creates awareness of technologies from Maryland’s Federal Labs available for licensing and/or collaboration Audience: Business developers, entrepreneurs, investors, researchers, inventors, education officials, economic and workforce development professionals TEDCO Showcase Day-long event Formal welcome and keynote speakers “Fast Pitch” presentations (24 talks, 7 minutes each) Poster sessions How to partner with Fed? Resources Facility tours Challenge –Getting the inventors to understand the audience Cathy Cohn Marketing Specialist [email protected] 301-975-6691