The Strategic Brilliance of Patent Analysis in Marketing: A Multifaceted Approach
In the dynamic realm of modern marketing, gaining insights into international markets, deciphering competitor strategies, and staying ahead of technological trends are critical for success. While it's common to view patents as a legal tool, their analysis can be a perfect instrument for marketing departments, offering invaluable perspectives that can make all the difference.
Transparency in International Markets
Understanding international markets is a core challenge for marketing professionals. Patents, surprisingly, are a potent lens through which to illuminate these markets. When a company files for patents internationally, it's a sign of their intention to compete and expand in those regions. Patent databases, such as the World Intellectual Property Organization (WIPO) or the European Patent Office (EPO), provide a wealth of information on patents filed worldwide. By analyzing these patents, marketing departments can glean insights into global market strategies. They can identify regions where competitors are concentrating their efforts, assess market demand, and even understand the cultural nuances affecting product adoption. This transparency enables more informed decision-making and better-targeted marketing campaigns.
Revealing Competitor Activities
One of the most compelling aspects of patent analysis for marketing is its ability to unveil competitor activities. Patents serve as a blueprint for a company's innovative direction. By dissecting competitor patents, marketing professionals can identify not only the products and technologies in development but also the features, functionalities, and unique selling points. Armed with this knowledge, marketing teams can tailor their strategies to either compete effectively or find untapped market niches. It's a powerful tool to stay not only in the know but ahead of the game.
Spotting Emerging Technical Trends
Marketing strategies succeed when they align with emerging technical trends. Patents are an early manifestation of innovation. By tracking patent filings and their trends over time, marketing departments can discern where technology is heading. This proactive approach allows to position products or services in the right place at the right time, leveraging consumer interest and industry enthusiasm for new technologies. It's a potent way to keep marketing campaigns fresh, relevant, and on the cutting edge.
Quality Over Quantity
However, while the total number of filed patents is informative, it's essential to look beyond sheer quantity. Quality and value of patents are even more important in order not to fall for misleading patent application strategies - and for any deep analysis. High-value patents are those that cover breakthrough technologies or have strong blocking effects. Focusing on patent quality helps marketers identify areas of true growth. It's not just about claiming innovation; it's about showcasing true innovation and trends.
In conclusion, patent analysis is a multifaceted instrument - also and in particular for marketing departments. It brings international markets into focus, unveils competitor strategies, and reveals emerging technical trends. Moreover, emphasizing patent quality over quantity ensures that market research are grounded in substantive information. By harnessing these insights, marketing professionals can craft strategies that are not just reactive but forward-looking, creating a competitive edge in an ever-evolving global marketplace.
The US index provider NASDAQ has recently demonstrated this particularly impressively:
Based on the composition of the patent portfolio, its value and its development, NASDAQ identifies companies that systematically work on (disruptive) innovations. It has now summarized them in a new stock index, which was published at the beginning of August (NASDAQ US LARGE CAP SELECT DISRUPTORS) . It is interesting to note that this index, despite its very short life, has so far significantly outperformed its benchmark, which seems to support the initial thesis.
