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Emerging technologies such as the Internet and biotechnology have the potential to create new industries and transform existing ones. Incumbent firms, despite their superior resources, often lose out to smaller rivals in developing emerging technologies. Why do these incumbents have so much difficulty with disruptive technologies? How can they anticipate and overcome their handicaps? Wharton on Managing Emerging Technologies presents insights, tools, and frameworks from leading busi-ness thinkers based on the research of Wharton's Emerging Technologies Management Research Program. This pioneering industry-academic partnership, established in 1994, is one of the longest and broadest initiatives on the management of emerging technologies. For the first time, this book distills the insights from the program into a single volume for managers, covering a wide range of issues related to the successful management of emerging technologies. The editors contend that managing emerging technologies represents a "different game," requiring a different set of management skills, frameworks, and strategies than those used by established firms to manage existing technologies. In this book, experts from diverse fields examine key issues such as: Common pitfalls and potential solutions for incumbent firms in managing emerging technologies Strategies for assessing the potential of new markets and designing technologies to take advantage of market "lumpiness" The need for scenario planning and "disciplined imagination" to develop strategies under uncertainty The limits of patents in protecting gains from technology, and the use of lead time and other strategies The power of innovative financial strategies and the use of real options in making investments Using alliances and new organizational forms Developing a "customized workplace" Wharton on Managing Emerging Technologies represents a powerful survival kit for managers "dropped behind the lines" of these new technologies. The authors provide a comprehensive set of tools and insights that will help you understand the new challenges and develop effective strategies to succeed at this different game. Praise for WHARTON on MANAGING EMERGING TECHNOLOGIES "New technologies are transforming markets, businesses, and society at an ever-increasing rate. We have a critical need for better road maps for managing our way through this new terrain. This book offers critical insights and useful new models for thinking through these challenges." —Professor Thomas Gerrity, Director of the Wharton e-Commerce Forum "Wharton on Managing Emerging Technologies covers the emerging technology landscape-from strategy to finance to human resources-in a way that only a group of top scholars from many disciplines could do. Insightful, accessible, and smart ideas that make for 'must reading' for thoughtful executives in today's turbulent economy. The authors prove, once again, the power of research to yield deep insight into tough business problems." —Kathleen M. Eisenhardt, Professor of Strategy and Organization, Stanford University and coauthor, Competing on the Edge: Strategy As Structured Chaos "Wharton on Managing Emerging Technologies offers valuable insight for large established companies seeking growth in a dynamic market of rapid technological advancement. The entertaining cases and thoughtful analyses help managers create strategies, select options, and organize to successfully manage the interface between imagination and knowledge." —Jerry Karabelas, PhD, CEO, Novartis Pharma AG

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"Creativity in marketing communications is one of the most potent ways for companies to increase their productivity. This book contains case after case, which demonstrates the leveraging power of innovative thinking in advertising today." -Joseph E. DeDeo Chairman of Latin America,Young & Rubicam, Inc. The days of expensive network television rollouts of new advertising campaigns are over. Targeted, niche-driven selective marketing is less expensive, more profitable, and far more sensible in today's thriving culture of special-interest media. Here's your chance to learn all about this revolutionary new marketing strategy. Written by the advertising genius behind some of the most unforgettable campaigns of the past 30 years, Divide and Conquer teaches you what you need to know to conduct your own successful selective-marketing campaigns. Fifteen fascinating and instructive case studies demonstrate how to identify your markets precisely, get to know them inside and out, fashion a message that they'll hear and respond to, and find the perfect media mix to deliver your message. No matter what size company you work for, in Divide and Conquer you'll learn valuable lessons about how to find your customers, reach out to them, and forge profitable, long-term relationships with them. With the advent of cable TV, the Web, and other new platforms, media have become as diverse as the increasingly fragmented markets they serve -dangerous terrain for one-size-fits-all advertising. In the 1980s, a handful of visionaries began developing an alternative designed to take advantage of today's thriving culture of special-interest media. It's called selective marketing, and unlike mass-market advertising, it doesn't tell people what they want, it asks them. Selective marketing uses sophisticated intelligence-gathering techniques to pinpoint niche markets and learn all about them. It plies everything from print, TV, and radio, to Web technology, fax response, and even performance art to capture specific markets and forge lasting relationships with them. And it helps clients find the best ways to satisfy or surpass customer expectations. In Divide and Conquer, Harry Webber reveals the secrets behind this revolutionary new marketing strategy. The advertising genius behind such memorable campaigns as "I am stuck on Band-Aid," Webber clearly and concisely lays out basic selective-marketing principles and practices. With the help of 15 selective-marketing case studies, he demonstrates that any advertiser can use his proven techniques to identify markets, create the right message for a particular market, and develop the most effective media mix to deliver that message. Fascinating and instructive success stories, the case studies provide a unique insider's look at selective marketing in action. You'll learn how selective marketing was used to restore the investment community's faith in Ford; win the alternative adult market for Dr Pepper; entice baby boomers to Kentucky Fried Chicken; and even forge an alliance between the Crips and Bloods street gangs for the Los Angeles city attorney's office. Each case study presents concise descriptions of the target market, marketing challenge, selective-marketing solution, and outcome, and concludes with a quick summary of important selective-marketing lessons learned. Throughout the book, sidebars spell out key selective-marketing principles embodied by the case at hand. The first practical guide to the revolutionary marketing strategy that threatens to make mass marketing a thing of the past, Divide and Conquer is essential reading for marketing managers, entrepreneurs, and professionals working in small businesses, midsize companies, and large corporations.

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