DocumentCode
1852580
Title
Who is going to buy the darn thing? [marketing]
Author
Grabowski, Ralph E.
Author_Institution
VP of Marketing & Sales for Startups, Andover, MA, USA
fYear
1995
fDate
21-23 Jun 1995
Firstpage
69
Lastpage
96
Abstract
Why do some new products take off, while others do not sell at all? Marketing is a process of ascertaining needs which customers are willing to spend money to satisfy, thus guiding engineering to design the right products. How much shall we invest in marketing to enable commercial success, and when? The paper discusses a new metric which has been developed to answer these questions, the marketing/engineering investment ratio. This model separates marketing from the functions of promotion and selling. Formulating a ratio of marketing to engineering installs marketing concurrently with engineering, and sizes the marketing budget with a readily identified number (engineering investment)
Keywords
engineering; investment; marketing; commercial success; customer needs; engineering investment; marketing; marketing budget; marketing/engineering investment ratio; metric; product design; promotion; selling; Biomedical engineering; Consumer electronics; Design engineering; Instruments; Investments; Machine vision; Maintenance engineering; Marketing management; Product design; Technology management;
fLanguage
English
Publisher
ieee
Conference_Titel
Electro/95 International. Professional Program Proceedings.
Conference_Location
Boston, MA
Print_ISBN
0-7803-2633-4
Type
conf
DOI
10.1109/ELECTR.1995.471046
Filename
471046
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