Summary of Crossing the Chasm

Summary of Crossing the Chasm - A Summary of "Crossing the...

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A Summary of “Crossing the Chasm” By Jonathan S. Linowes, Parker Hill Technology Geoffrey A. Moore, Crossing the Chasm, Marketing and Selling High-Tech Products to Mainstream Customer (revised edition) , HarperCollins Publishers, New York, 1999 The high-tech marketing guru (and principle of The Chasm Group marketing consultants), Geoffrey Moore offers time tested insights into the problems and dangers facing growing software companies, and a blueprint for survival. This classic text (first published in 1991) is widely accepted as “the bible for bringing cutting-edge products to progressively larger markets.” For the benefit of the reader, while I do not presume to do justice to Moore's book, I attempt to summarize key points here: ¾ A market is defined as ± a set of actual or potential customers ± for a given set of products or services ± who have a common set of needs or wants, and ± who reference each other when making a buying decision The final point may be the least intuitive, but Moore says, "the notion that part of what defines a high-tech market is the tendency of its members to reference each other when making buying decisions-- is absolutely key to successful high-tech marketing." Many business plans are based on a traditional Technology Adoption Life Cycle, a smooth bell curve of high tech customers, progressing from Innovators, Early Adopters, Early Majority, Late Majority, and finally Laggards. In turn, this model becomes the foundation for a high-tech marketing model which says the way to develop a market is to work the curve from left to right, progressively winning each group of users, using each "captured" group as a reference for the next. 1
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Moore demonstrates that in fact, there are cracks in the curve, between each phase of the cycle, representing a disassociation between any two groups; that is, "the difficulty any group will have in accepting a new product if it is presented the same way as it was to the group to its immediate left." The largest crack, so large it can be considered a chasm , is between the Early Adopters and the Early Majority. Many (most) high tech ventures fail trying to make it across this chasm. ¾ Early Adopters are the rare breed of visionaries "who have the insight to match an emerging technology to a strategic opportunity,… driven by a 'dream'. The core dream is a business goal, not a technology goal, and it involves taking a quantum leap forward in how business is conducted in their industry or by their customers… Visionaries drive the high-tech industry because they see the potential for an 'order- of-magnitude' return on investment and willingly take high risks to pursue that goal. They will work with vendors who have little or not funding… As a buying group, visionaries are easy to sell but very hard to please… because they are buying a dream…They want to start out with a pilot project, which makes sense because they are 'going where no man has gone before' and you are going with them. This is
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This note was uploaded on 05/07/2010 for the course MSE 221 taught by Professor Dggr during the Spring '10 term at Aberystwyth University.

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Summary of Crossing the Chasm - A Summary of "Crossing the...

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