Patent Marking: A Strategy to Boost Product Innovation and Adoption
By Stéphane Salgado
Nov 1, 2024
In a market flooded with new products, standing out can be a challenge, especially for innovative products that require clear communication of their unique value. This is where patent marking—the practice of displaying patent information on products—comes in as a powerful tool. Patent marking serves as a signaling strategy that not only conveys technical superiority but also influences consumer perceptions and adoption decisions.
The Power of Patent Marking for Innovative Products
One of the study’s significant findings is that patent marking can effectively communicate a product’s newness and usefulness to consumers. By seeing a “patented” label, consumers infer that the product offers technical benefits that competing products lack, such as improved functionality or quality. This signal reduces uncertainty and allows consumers to feel more confident in their purchase decisions, thus boosting purchase intent and the willingness to pay a premium.
Patent marking reinforces consumer perceptions of a product’s novelty and usefulness, bridging the gap between niche and mass market adoption.
A Tool to Reach Pragmatic Consumers
While early adopters often embrace new products due to their interest in innovation, pragmatic consumers—who tend to be risk-averse and less innovative—need additional assurances. For these consumers, patent marking offers a certified signal of quality and reliability, helping innovative products transition from niche to broader market appeal. As the study shows, patent marking can therefore be instrumental in “crossing the chasm” between these two consumer groups, facilitating faster adoption on a larger scale.
Practical Implications for Managers
Managers looking to improve adoption rates for innovative products should consider patent marking as part of their marketing strategy. Not only does it reinforce the perceived value of innovation, but it also helps differentiate products in a crowded marketplace. For companies heavily invested in R&D, patent marking can communicate these technological advancements directly to consumers, enhancing brand reputation and product loyalty.