High tech product marketing

Marketing high tech product is different from marketing simple product.

"High tech markets are characterized as complex. In addition, they exist under rapidly changing technological conditions which lead to shorter life cycles and the need for rapid decisions. The importance of speed in high tech markets is driven by increasing competition and the continually evolving expectations of customers. All of this is compounded by higher levels of risk for both the customer and the producer."

Lets understand some areas of high tech product developement etc to better fine tune marketing process.

Customer vioce:

First is the importance of customer voice while developing the product- Due to dynamic market conditions high tech companies frequently rely on a product which is driven by the innovations in technology rather than by the needs of the customer. This orientation often leads to abandonment of a customer focus; a must in today's globally competitive markets.
Bottom line: customer vioce, knowledge of customer needs are very important and marketing strategy should be to clearly communicate product features and benefits aimed towards satisfying these needs.

Product Differenciation:

Second, there are specific features of high tech markets that are believed to distinguish them from other product categories. Examination of both of these sets of issues is necessary to understand the particular importance of the diffusion of innovation in the launch of high tech products.
Bottom line: marketing strategy should aim towards creating product differentiation in the minds of the customer. Last, but not least, their goal is to fulfill unmet needs.

Technology changes:

High tech companies, however, must recognize that both technological and marketing conditions are rapidly changing. This dynamic environment necessitates stronger consideration for the marriage of marketing and technology.
Bottom line: Marketing must understand technology fully before developing marketing strategy.

Changing Target market

Research and practice indicate that high tech markets are characterized as dynamic and complex which results in a changing target market over the life cycle. The complexity of the product also impacts market acceptance in different ways in high tech markets. As high tech products are more complicated, they require greater customer education and more product information.
Bottom line: greater effort on the part of marketing to adequately convey the necessary information. Consequently, it is important to recognize the need to clearly identify and profile a target market as well as take into account that the profile of the target market will change over time.

Other basic things to be taken care of in High Tech Product marketing:
--Purchase decision taken by the group rather by an indivisual
--Relationship building is important
--Sales person capability to sell product

Understanding the relationship between the product development process and the product adoption process provides the means of incorporating the marketing concept into the development of new products.