Typically, high tech start-ups have excellent technical capabilities. Customer presentations usually feature details about technical and engineering competences rather than own products. But, in the absence of recurring revenue streams, the company fails to grow. This is due to a policy of “spec-taking” rather than “spec-making”.
Competence-based marketing is based on working to customers’ specifications and involves a different offering each time. Ownership of intellectual property is an issue always to be negotiated.
Product marketing requires a different organisational approach and permits standardisation and cost-efficient repeatability in company processes.
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