Lecture 1

Lecture 1 - AEM 3350 International Technology Marketing of...

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Unformatted text preview: AEM 3350 International Technology Marketing of Biotechnology Susan E. Lynch Professor in Science and Business Applied Economics and Management Department 1 Dr. William Lesser CONSIDER: US has substantial trade balance deficits Imports Exports Exports are still a relatively small part of US GDP US accounts deficit est. $800 billion (7% GDP) US is a relatively high cost producer so that we must rely increasingly on high value added products like technology products 2 Exporting provides additional marketing opportunities: AT SAME TIME ... Saturated market Obsolete or out of fashion Different tastes and preferences Economies of scale Market segmentation 3 Biotechnology is one such high tech area many see as having considerable promise PROCESS OF EXPORTING TECHNOLOGY-BASED PRODUCTS IS KNOWN AS TECHNOLOGY TRANSFER 4 Multiple aspects of technology transfer: Identify markets/market segments How to sell product, and to whom How paid (flat price, terms, share of profits, license fee, etc.) Import and export restrictions Logistics Protecting product from piracy Public acceptance ALL MUST BE CONSIDERED for a successful technology transfer activity 5 AEM 3350 is structured around a particular "opportunity" SCENARIO Your firm wishes to sell a new `delayed ripening' tomato in India. In developed countries, the benefit to delayed ripening is better tasting `winter' tomatoes. Most of India though can produce year-round, and consumers insist on red, ripe fruit. The issue there is the appalling post harvest losses up to 60% - due to an absence of refrigeration and proper packaging materials, etc. Because delayed ripening means the fruit is less soft, loss will be reduced. Reduced spoilage, you figure, means producer prices will be higher while consumer prices are lower and you can make a nice profit. This is truly a win-win-win situation. 6 The problem is ... you are a scientist, not a marketer nor a technologist so you are unsure just how to proceed. The benefits are nonetheless so evident you are expecting no big problems. How should you proceed in developing your marketing plan? 7 CLASS GROUP PROJECT GROUP MARKET PLAN ASSIGNMENT Groups are required to prepare and present a marketing plan for the sale of delayed ripening technology for tomatoes in India using the class marketing/business plan outline. The presentations will be held during class on April 29 and May 1st. Group papers of approximately 20 pages are due May 2nd. 8 Spring 2008 Class Time: Tuesday, Thursday 10:10 11:25, Warren Hall Room 231 Instructor: William Lesser, 205 Warren Hall [email protected] 255-4595 Office Hours: M 3:304:30, W 10:30Noon, or by appointment Administrative Assistant: Nancy Trencansky, 102 Warren Hall [email protected] 255-1616 Course Web Page: http://blackboard.cornell.edu 9 AEM 335 AEM 3350 Text: Charles, D., 2001. Lords of the Harvest: Biotech, Big Money, and the Future of Food. Cambridge, MA: Perseus Publishing. Can be purchased through Amazon.com, Half.com or alibris.com Grading: Marketing Plan presentation paper Assignments Mid Term Final Class Participation Spring 2009 10 % 25 20 15 20 10 10 ...
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