Developing a new product and introducing it to the general population can be an exciting enterprise. It can also be disastrous if competition is too strong or if the public does not accept the new product. In the high tech field, there seem to be many more stories of failure than of success. In Crossing the Chasm, Geoffrey Moore discusses some of the pitfalls of marketing new products in the high tech field, and offers techniques for success. This paper discusses three takeaways from the reading of Crossing the Chasm.
In the technical world there are two basic types of innovations. The most common type is continuous or sustaining innovations. These are the innovations consumers look for like new cell phones with increased computer ability and better camera resolution, or new styles of eyeglasses that make one look hipper. These continuous innovations are ones that do not require a change in behavior . The other type of innovation is called discontinuous or disruptive. These innovations introduce entirely new products or concepts that can change the behavior, or even the life, of the consumer (Moore 16). Crossing the Chasm is concerned with marketing strategies for the disruptive innovations.
Marketers are familiar with the technology adaptation curve, with the innovators, early adaptors, early majority, late majority, and the laggards. Each group represents a different psychology when it comes to buying into new technology. The premise of Crossing the Chasm is that with disruptive innovations, there is actually a gap, or chasm, between each of the groups during which sales for a new product actually stall (Moore 22-24). This is the point where many companies panic and make bad decisions.
The key to marketing in the high tech field, especially with a disruptive product, is to plan for the gaps and market to each adaptor segment separately. When the product cycle hits one of the gaps, the organization needs to develop a different strategy to reach the next adaptor group. This may mean developing other uses for the product, changing basic features, or demonstrating the need for the product. Each adaptor group has different reasons for buying into new technology, and the marketing department must tap into those reasons as the product becomes more accepted.
Crossing the Chasm includes several success stories to illustrate Moore’s model for success and goes into greater detail for each step in the process. These three takeaways offer a quick glimpse into the basic concepts of successfully marketing a new disruptive innovation.
References
Moore, G. Crossing the Chasm: Marketing and Selling Disruptive Products to Mainstream Customers. 3rd. Harper Collins, 2013. E-Book.
