Barry Bayus teaches in areas of innovation, new product design and development, marketing strategy and technological change. He has been a member of the American Marketing Association for over 25 years. He is also a member of Product Development Management Association (PDMA). He serves on academic boards for Journal of Marketing Research, Journal of Marketing, Marketing Science, Management Science, Journal of Product Innovation Management. He also serves on the CMO Council Academic Advisory Board. We thank him for taking some time out of his busy schedule to meet with us and answer a few questions.

How did you get into Marketing? In graduate school, my studies concentrated on Operations Research but all my applications involved marketing problems dealing with product decisions. After grad school I went to work for RCA in the field of market forecasting. I then returned to academia, joining the marketing faculty at Cornell University. I later moved to UNC’s Kenan-Flagler Business School in 1992.

Why did you join the AMA? I joined the AMA to keep in touch with latest developments in the field of marketing. I always encourage my students to join organizations such as the AMA so they can keep in touch with the latest trends and network with other professionals.

What are some challenges for students who major in Marketing? The field is changing with all the new technology and applications that are available. It will be a challenge for marketers to fully incorporate the Web 2.0 ideas with existing media options.

What makes a good marketer? Good marketers really understand the saying” You don’t want to sell what you make. You make what you can sell”.

Which companies do you admire most for their innovation and new product development? In the consumer area, Proctor and Gamble is a great example of a company on the leading edge of innovation. In the technology area, IBM stands out. Both of these companies practice the concept of Open Innovation. They embrace the philosophy that good ideas can come from anywhere—inside the company as well as outside the company. IBM’s “idea jam” process is a nice example. These companies are quite different than the typical “not invented here” approach that doesn’t seem to be working any more. Apple is also a very innovative company. They focus on using design to enhance the customer’s experience with their product. However, Apple is not yet totally comfortable with Open Innovation.

What is the most significant trend in marketing? There is a new trend described by Jeff Howe who writes for Wired magazine known as “CrowdSourcing”. In “crowdsourcing,” you get the crowd (social network) to do the brainstorming and screening of new ideas for the company’s new product or new service. This is an interesting way of using social networks to get involved in innovation. Dell is a well-known example of a company who uses this approach. There are many other examples involving smaller, niche companies. James Surowiecki’s book “Wisdom of Crowds” also describes this idea in more detail.