Get Ready for Innovation by Invasion

From many years of field research in West Germany and the United States, and especially from a recent study of relatively mature firms in Ohio, Gerhard Mensch has become aware of the disruption caused by the invasion of industries by new technologies from the outside. He sees the frequency of these invasions increasing in coming years for reasons that go beyond technological matters to the pressures for change coming from the capital markets. In this Perspective , he suggests the invasions can be countered and the capital markets satisfied by giving a more prominent role to the innovation manager in the strategy development process.     

Guidelines for Corporate Trademark Licensing

Licensing a trademark in many firms, if it occurs at all, is an incidental ad hoc arrangement. An unorganized approach can mean trouble. It can also mean the firm is losing an opportunity to exploit fully a valuable asset. Tom Meyer, Cathie Tinney, and Terry Tinney argue that trademark licensing is deserving of careful attention and planning.     

Problems in Demand Estimation For a New Technology

It is difficult to estimate demand for a new product or service when a prelaunch test market is not practical. This is often the case for products that incorporate advanced technology. In this article, Robert Thomas reviews 29 different research methodologies used to measure demand for a new telecommunications service. He found several problems in how the research was designed and executed and offers a number of suggestions for improving the accuracy of demand estimates.     

Recycling consumer solid waste: A commentary on selected channel alternatives

The recycling of consumer solid waste presents special problems for reverse marketing channels. Specifically, the accumulation of bulk quantities of homogenous materials from consumer-generated sources that are highly heterogenous in nature represents a major functional problem that must be overcome through the development of appropriate reverse marketing channels. In this article, factors influencing reverse channels development are outlined, and specific marketing implications concerning the three basic channel types that primarily handle consumer solid waste are discussed.     

Sales recruiting—A major area of underinvestment

How does a firm decide whether the amount now being spent to generate sales force applicants is too much, not enough, or about right? This question can be answered by using information routinely generated by corporate activities and a relatively straight forward decision theory technique. To illustrate that technique, an analysis was conducted for a hypothetical but by no means atypical firm. The results suggest that many corporations could appreciably increase their overall profitability by spending more on sales force recruitment and selection.     

Corporate characteristics and the corporate socialization of local (Mexican) managers of U.S. multinational corporations

This paper examines the proposition that local nationals employed as (local) managers by foreign subsidiaries of multinational corporations have managerial attitutes which are generally between those of indigenous managers employed by domestic firms in both the parent and host countries. The evidence strongly suggests that the concept has validity, and that the organization attributes of capital, R&D, and marketing intensity influence the managerial attitudes of the three groups of managers and the differences among these attitudes.     

Marketing information system utilization: An application of self-concept theory

The impact of marketing information systems (MIS) has not been substantial and developed systems have not been highly utilized. Borrowing the theory of self-concept from the behavioral sciences, 46 system users' self-images, ideal self-images, and the images of a significant other (one who facilitates usage of the MIS) are measured and related to the image of a heavy user of the information system. The results shed some light on the system usage problem and provide some direction for marketing the MIS to marketing managers/ system users.     

Criteria used by venture capitalists to evaluate new venture proposals

A questionnaire was administered to one hundred venture capitalists to determine the most important criteria that they use to decide on funding new ventures. Perhaps the most important finding from the study is direct confirmation of the frequently iterated position taken by the venture capital community that above all it is the quality of the entrepreneur that ultimately determines the funding decision. Five of the top ten most important criteria had to do with the entrepreneur's experience or personality. There is no question that irrespective of the horse (product), horse race (market), or odds (financial criteria), it is the jockey (entrepreneur) who fundamentally determines whether the venture capitalist will place a bet at all.The question is if this is the case, then why is so much emphasis placed on the business plan? In a business plan there is generally little to indicate the characteristics of the entrepreneur—it is generally devoted to a detailed discussion of the product/service, the market, and the competition. To us, the implications are obvious—such content is necessary, but not sufficient. The business plan should also show as clearly as possible that the “jockey is fit to ride” —namely, indicate by whatever feasible and credible means possible that the entrepreneur has staying power, has a track record, can react to risk well, and has familiarity with the target market. Failing this, he or she needs to be able to pull together a team that has such characteristics and show that he or she is capable of leading that team.Factor analysis of the results indicate that venture capitalists appear to assess ventures systematically in terms of six categories of risk to be managed. These are: risk of losing the entire investment: risk of being unable to bail out if necessary; risk of failure to implement the venture idea; competitive risk; risk of management failure; and risk of leadership failure.Finally, three clusters of venture capitalists were identified: those who carefully assess the competitive and implementation risks: those who seek easy bail out; and those who deliberately keep as many options open as possible.     

Competitive intelligence practices of industrial marketers

This paper explores two ideas: that the competitive inteligence-gathering efforts of industrial marketers differ in purpose from those of consumer marketers, and that the scope of those efforts can be explained by a model incorporating purpose, size, competitive environment, and strategy. Based on data provided by employees of 151 firms, support is found for both of the basic ideas explored.