Crossing the Chasm:

Description

Crossing the Chasm: Marketing and Selling High-Tech Products to Mainstream Customers by Geoffrey A. Moore represents something seminal in technology marketing and innovation. First published in 1991, the book is mainly based on issues that tech companies must address when moving from selling early adopters of their product to mainstream markets.

The central concept of this book concerns this “chasm,” which is the chasm between early adopters who are willing to take the risk of trying something new in terms of technology, and the mass, who tend to be more conservative, preferring proof of value before embracing something new. The main argument put forth by Moore is that most tech start-ups fail to cross this chasm either because their value proposition is not clear or because they do not understand the specific needs of mainstream customers.

Key themes and principles encompass:

Market Segments: Moore classifies the consumer into five distinct groups that they are categorically assigned to: innovators, early adopters, early majority, late majority, and laggards. The rationale of understanding market segments is the means to form a proper marketing strategy.

Focus on a Niche Market: Successful crossing of the chasm for a company is to focus on a specific niche within the mainstream market, thus creating a strong value proposition in relation to that segment.

A Whole Product: A company should ensure an integrated solution, and not a lone product. This should include customer support, training, and integration with the prevalent systems.

The Technology Adoption Life Cycle: Moore refers to the different stages in the technology adoption process and highlights marketing strategies that change with each stage.