Working with Inventors to Enhance Marketing Efforts Cathy Cohn Marketing Specialist

Overview 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

Marketing Campaigns Target Approach Target specific industry sector(s) Target specific industry sector(s) Identify target companies Identify target companies INVENTOR INVENTOR Target the right person within the company Target the right person within the company Business development, VP development, product manager Business development, VP development, product manager Person differs depending on size of company Person differs depending on size of company INVENTOR INVENTOR Initial contact –”cold call” Initial contact –”cold call” Sales presentation –value proposition Sales presentation –value proposition Handle technical questions Handle technical questions INVENTOR INVENTOR Follow-up Follow-up

Marketing Mix The 4 P's of Marketing P roduct – What is the “value proposition” to attract potential P roduct – What is the “value proposition” to attract potential customers? customers? Connect invention features with benefits Connect invention features with benefits Should be clear as possible for the technology business audience Should be clear as possible for the technology business audience INVENTOR INVENTOR P romotion – How will you promote the technology to your potential customers? P romotion – How will you promote the technology to your potential customers? Personal selling, website, showcase, advertising in the Federal Register, etc. Personal selling, website, showcase, advertising in the Federal Register, etc. INVENTOR -conferences, publications, showcases INVENTOR -conferences, publications, showcases P lace – Getting the product to the customer P lace – Getting the product to the customer INVENTOR INVENTOR P rice P rice What price should you expect? 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?  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   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 Technology Transfer and Commercialization Showcase Technology Transfer and Commercialization Showcase NIH and NIST Technologies Discover and Commercialize Cutting Edge Bio-Imaging Technologies Oct 6, 2009 at NIST

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