Crossing the Chasm
by Geoffrey A. Moore
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Book Summary Information
Author: Geoffrey A. MooreEdition: Paperback
Audio: English (Unknown); English (Original Language); English (Published)
Published: 2002-08
ISBN: 0060517123
Number of pages: 256
Publisher: HarperBusiness
Book Reviews of Crossing the Chasm
Book Review: Crossing the chasm moves you into market leadership
Summary: 5 Stars
The high tech market illusion markets new technology immediately too the mass marketed. Enthusiasts of the market illusion argue, "if Bill Gates can market windows to the masses, why can I market my technology to the mass market?" At the origin, all high tech markets have a gap between the mainstream-market, the chasm. The chasm problem can't be solved by voluntary assistance, all the resources required to cross the chasm must be requested. In a closed market, a central authority controls all standards and rules. This works fine for a closed market, however, the mass market is composed of numerous interest groups and each group is distinguished by its own psychology and demographics. This each each group will have its own market response. The key too crossing the Chasm means understanding each group niche and its relationship to its neighbor niches. Make a total commitment to a niche and don't take on more than one or two niches at a time. Reverse the trend in the niche decision from high risk and low data too high data and low risk. Focus resources to become dominate in the niche, big fish in small pond. Characterize the target: create something that feels like real people, record down your customer scenerios, store thumbnail information about each customer, and determine how the product will be brought to use by the customer.
Accepting this reality means building a whole application that solves a 100 percent of the business problems of the group, this becomes the high tech lore: 1. target the right customer 2. derive the compelling buying reason 3. build the whole product 4. form partners and allies 5. create a distribution channel 6. find the right pricing 7. distinquish from competition or create competition 8. position into the niche and work to create a mass market merge 9. determine the next target customer.
The high tech innovator must become enlighten. As you cross the chasm you will not be a market leader, but by the time you reach the other side, there will be a strong following. The high tech innovator must realize the markets do not unfold in a smooth continuous manner, there are perils in the chasm, and gain niche loyalty is the key to gain mass-market loyalty. The innovator must gain the trust of the pragmatist. The pragmatist is critical to gain customers because of his large support base. Once the pragmatist is won over, he remains very loyal to the application. It is impossible to win mass-market acceptance with gain the pragmatist loyalty.
Visionaries give high tech companies their first breaks. The winning strategy is for the entrepreneur to define product deliverables. The Visionaries can give the high tech company a burst of revenue and exceptional visibility and without the boost the high-tech products can't make it to market. The visionary is in a hurry to build the future and perceives limited windows of opportunity. Because the opportunity windows are small, large sums of money are generated to complete the project on time. The entrepreneur must create phases of the visionaries project. The high tech company must seed the entrepreneur community with their idea and product overview and hope that a visionary will share its vision. The process is a creative imaginative dream and high tech company is offering a credible way for visionary to realize their dream. The core of the dream is a business goal and it involves a quantum leap forward in the way business gets done and it also involves a high degree of recognition and reward. The dream is looking for a fundamental breakthrough.
The market is flush with enthusiasm and vision. The high tech company must attempt to distinguish themselves from their competitors and once the mainstream merges with the market niche, wealth and growth occur.
The early majority wants evolutionary and not revolutionary product features. The early majority is concerned about disrupting their organization. A very pragmatic attitude compels the early major to seek resource references reassuring them on the technology investment.
The early adopters hope to gain a jump on their competition, lower production costs, provide more complete customer service, and create a radical discontinuity between the old way of doing business and the new way.
It is tough to break into a new industry when selling to a pragmatist. Pragmatists deeply value the experience of their colleagues and funds are in the hands of prudent souls. Pragmatists seek a percentage improvement: incremental, measurable, and predictable and too them risk represents a chance to waste money. The natural prudence and budget restrictions keep them cautious. Pragmatist focus on standardization, increased sales, and lower costs and once won they are very loyal.
The customer can't reference each other when they are in different markets. Customer reference is a chain reaction affected usually by word of mouth. The market purpose must be to develop and shape something that is real and has a set of potential customers and a given set of products and services and allows the customers to reference each other when making buying decisions.
Summary of Crossing the Chasm
Here is the bestselling guide that created a new game plan for marketing in high-tech industries. Crossing the Chasm has become the bible for bringing cutting-edge products to progressively larger markets. This edition provides new insights into the realities of high-tech marketing, with special emphasis on the Internet. It's essential reading for anyone with a stake in the world's most exciting marketplace.
Author Geoffrey Moore makes the case that high-tech products require marketing strategies that differ from those in other industries. His chasm theory describes how high-tech products initially sell well, mainly to a technically literate customer base, but then hit a lull as marketing professionals try to cross the chasm to mainstream buyers. This pattern, says Moore, is unique to the high-tech industry.
Moore suggests remedies for the problem that can help businesses meet their long-term goals. He coaches marketing professionals on how to move slowly through the gulf, teaching them to create profiles and target specific segments of the population rather than trying to plow right into the mainstream. He cites examples of successful chasm crossings by such companies as Apple, Tandem, Oracle, and Sun, showing what they all had in common and exposing the different weaknesses in their strategies. Moore also assigns responsibility for success to programmers and developers by suggesting they design a "whole product model." Here, because integration tasks are daunting to the mainstream market, all the components of a technological product must be in one package. Moore also describes strategies for competing with rival companies and assessing the best distribution channels for penetrating the target market.
Written not just for marketing specialists but for all employees whose futures ride on the success of a technical product, Crossing the Chasm delivers crucial information in an engaging, readable tone.
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