National Research University Higher School of Economics

Types of control

1. 
   Teaching Strategy
   

2. 
   Grades and Components of Assessment
   

6. 
   Outline of Lectures and Readings
   

1. 
   Review of Russian Innovation System.
   

• 
  Innovation, Theoretical Conception, Technical Invention, Commercial Exploitation.
  
• 
  ScienceandTechnologyBase in Russia. TechnologicalDevelopments. NeedsofMarket.
  
• 
  IMAQatKyushu University.
  
• 
  Global Trends (Russia, China, Brazil, India, Vietnam, Cambodia, Bangladesh, Indonesia).
  
• 
  Russia’s Current Innovation Policy Spaceand Advanced Country’s Archetypical Innovation Policy Space.
  
• 
  Size Structure of Firms in Russia.
  
• 
  R&D Personnel by Occupation inRussia and Selected Countries.
  
• 
  Scientific Publications and Co-Authored Articles inRussia and Selected Countries.
  
• 
  Levels of Innovativeness in the Regions of Russia.
  
• 
  World Development Indicators (Russia And Selected Countries).
  

1. 
   Shahid Yusuf, Kaoru Nabeshima (2012) Some Small CountriesDo It BetterRapid Growth and Its Causes inSingapore, Finland, and IrelandThe World Bank (Chapter 2. How Sifire Compressed Development, Chapter 3. Elements of a Learning Economy).
   
2. 
   OECD (2011), OECD Reviews of Innovation Policy: Russian Federation 2011, OECD Publishing.http://dx.doi.org/10.1787/9789264113138-en (Overall assessment and recommendations, Chapter 1. Economic performance and framework conditions for innovation, Chapter 2. Innovation actors).
   
3. 
   Raj M. Desai, Itzhak Goldberg (2008) Can Russia Compete?Brookings Institution Press
   
4. 
   Arr, Austin (2012) Are Accelerators Losing Speed? Fast Company. Sep2012, Issue 168, p51-56.
   

2. 
   Types of Innovations from Marketing Science Perspective and Common Characteristics of High-Technology Environment.
   

• 
  TypesofInnovations: ProductInnovation, ProcessInnovation, OrganizationalInnovation, ManagementInnovation, Production Innovation, Commercial and Marketing Innovation, Service Innovation.
  
• 
  Market-Pull Innovations and Technology-Push Innovations.
  
• 
  IncrementalandRadicalInnovations.
  
• 
  ProductVersusProcessInnovations. ArchitecturalVersus Component Innovations. Sustaining Versus Disruptive Innovations. Difference Between Breakthrough And Disruptive Innovation.
  
• 
  Do Different Types of Innovation Rely on Specific Kinds of Knowledge Interactions?
  
• 
  Base of The Pyramid Strategies.
  
• 
  The Contingency Model for Hi-Tech Marketing. Examples of Implications of Contingency Theory.
  
• 
  Common Characteristics of High-Tech Environment. MarketUncertainty. TechnologicalUncertainty. Competitive Volatility.
  
• 
  FUD Factor: Consumer Fear, Uncertainty, and Doubt.
  

1. 
   Jakki J. Mohr, Sanjit Sengupta, Stanley F. Slater (2009), Marketing of High-Technology Products and Innovations: Jakki Mohr. (Chapter 1. Introduction to the World of High-Technology Marketing)
   
2. 
   Franz Todtling,Patrick Lehner, Alexander Kaufmann (2009), Do Different Types of Innovation Rely on Specific Kinds of Knowledge Interactions? Technovation 29, pp. 59–71
   
3. 
   Gerard J. Tellis, Jaideep C. Prabhu, & Rajesh K. Chandy (2009) Radical Innovation Across Nations:The Preeminence of Corporate Culture, Journal of Marketing Vol. 73 (January 2009), 3–23
   
4. 
   Song, X.M.,Montoya-Weiss,M.M. (1998) Critical Development Activities for Really New Versus Incremental Products. Journal of Product Innovation Management 15(2), 124–135.
   

3. 
   Models of Innovation Process, New Product Development and Cross-Functional Interaction
   

• 
  The Market-Based View and the Resource-Based View on Innovation.
  
• 
  Linear Models (Technology Push, Market Pull). Simultaneous Coupling Model. Interactive Model. Network Model. Open Innovation Concept.
  
• 
  Three Phases of New Product Development Process: Idea Phase (Idea Generation and Screening), Concept Phase (Concept Development, Concept Testing, Business Analysis), Launching Phase.
  
• 
  Idea Phase:Problem Solution, Lateral Thinking, Mind Mapping, Brainstorming, Morphological Analysis, Synectics.
  
• 
  Dimensions of A Market Orientation.
  
• 
  New Product Development Teams. The Effectiveness of Cross-Functional Teams.
  
• 
  R&D – Marketing Interaction. Barriers to R&D – Marketing Collaboration. Different Orientations Between R&D and Marketing Personnel. Achieving R&D – Marketing Integration. Assessing the Degree of R&D – Marketing Integration.
  

1. 
   Jakki J. Mohr, Sanjit Sengupta, Stanley F. Slater (2009), Marketing of High-Technology Products and Innovations: Jakki Mohr. (Chapter 4, Market Orientation and Cross-Functional Interaction)
   
2. 
   Holger Ernst, Wayne D. Hoyer, & Carsten Rübsaamen (2010),Sales,Marketing, and ResearchandDevelopment Cooperation AcrossNew Product Development Stages:Implications for Success, Journal of Marketing, Vol. 74 (September 2010), 80–92
   
3. 
   Yu-An Huanga, Hsien-JuiChungb, ChadLin (2009), R&D Sourcing Strategies:Determinantsand Consequences, Technovation29, 155–169
   
4. 
   Ruth Maria Stock & Nicolas Andy Zacharias (2011), Patterns and Performance Outcomes of Innovation Orientation, Journal of the Academy of Marketing Science
   
5. 
   Song, X.M.,Montoya-Weiss,M.M.(1998), Critical Development Activities for Really New Versus Incremental Products. Journal of Product Innovation Management 15(2), 124–135.
   
6. 
   Griffin, A., Hauser, J.R. (1996), Integrating R &D and Marketing: AReview and Analysis of the Literature, Journal of Product Innovation Management, 13 (3), pp. 191-215.
   
7. 
   Cooper, R.G., Kleinschmidt, E.J. (1995),Benchmarking The Firm's Critical Success Factors in New Product Development, The Journal Of Product Innovation Management 12 (5), pp. 374-391. 
   

• 
  What is Stage-Gate?
  
• 
  Seven Goals of a New-Product Idea-to-Launch System
  
• 
  Discovery – The Quest for Breakthrough Ideas
  
• 
  The Front-End Work – From Discovery to Development
  
• 
  Picking the Winners – Investing in the Right Projects
  
• 
  Development, Testing, and Launch
  
• 
  Implementing Stage-Gate
  

1. 
   Jakki J. Mohr, Sanjit Sengupta, Stanley F. Slater (2009), Marketing of High-Technology Products and Innovations: Jakki Mohr. (Chapter 4, Market Orientation and Cross-Functional Interaction)
   
2. 
   Holger Ernst, Wayne D. Hoyer, & Carsten Rübsaamen (2010),Sales,Marketing, and ResearchandDevelopment Cooperation AcrossNew Product Development Stages:Implications for Success, Journal of Marketing, Vol. 74 (September 2010), 80–92
   
3. 
   Yu-An Huanga, Hsien-JuiChungb, ChadLin (2009), R&D Sourcing Strategies:Determinantsand Consequences, Technovation29, 155–169
   
4. 
   Ruth Maria Stock & Nicolas Andy Zacharias (2011), Patterns and Performance Outcomes of Innovation Orientation, Journal of the Academy of Marketing Science
   
5. 
   Song, X.M.,Montoya-Weiss,M.M.(1998), Critical Development Activities for Really New Versus Incremental Products. Journal of Product Innovation Management 15(2), 124–135.
   
6. 
   Griffin, A., Hauser, J.R. (1996), Integrating R &D and Marketing: AReview and Analysis of the Literature, Journal of Product Innovation Management, 13 (3), pp. 191-215.
   
7. 
   Cooper, R.G., Kleinschmidt, E.J. (1995),Benchmarking The Firm's Critical Success Factors in New Product Development, The Journal Of Product Innovation Management 12 (5), pp. 374-391. 
   

5. 
   Partnerships and Strategic Alliances in New Product Development
   

• 
  Partnerships at Apple.
  
• 
  Some Characteristics of a Knowledge-Based Economy.
  
• 
  Types of Partnerships.
  
• 
  Vertical Partnerships. Relationships With Suppliers. Supplier-OEM Vertical Relationship. Early Supplier Involvement (ESI). Relationships With Channel Members. RelationshipsWithCustomers.
  
• 
  Horizontal Partnerships. Complementary Alliances. Competitive Alliances. Industry Consortium.
  
• 
  Reasons for Partnering Across the Stages of the Product Life Cycle.
  
• 
  Setting Industry Standards Strategies. Licensing and OEM Agreements. Strategic Alliances. DiversificationintoComplementaryProducts. Aggressive Product Positioning.
  
• 
  Drawbacks of a Licensing Strategy.
  
• 
  Three Factors Helps a Firm Decide Which Strategy to Pursue. Barriers to Imitation. A Firm's Skills and Resources. The Existence of Capable Competitors.
  
• 
  Partnership and Entry Strategies in Foreign Markets.
  
• 
  Joint Ventures in China.
  

1. 
   Jakki J. Mohr, Sanjit Sengupta, Stanley F. Slater (2009), Marketing of High-Technology Products and Innovations: Jakki Mohr. (Chapter 5 Partnership, Alliances, and Customer Relationships Partnerships and Strategic Alliances)
   
2. 
   Kumar, S.,Snavely,T. (2004) OutsourcingandStrategicAlliances for Product Development: a Case ofBantaDigitalGroup.Technovation24 (12), 1001–1010.
   
3. 
   Orly Yeheskel Oded Shenkar. Avi Fiegenbaum, and Ezra Cohen (2001), Cooperative Wealth Creation: Strategic Alliances in Israeli Medical-Technology Ventures, Academy OfManagement Executive,Vol. 15.
   
4. 
   Zhao, Y.,Calantone,R.J., (2003), The Trend Toward Outsourcing in New Product Development: Case Studies in Six Firms. International Journal of Innovation Management, Vol.7(1), pp.51–66.
   

6. 
   Marketing Researchand Innovations
   

• 
  Market Research Expenditures & Market Research Staffing.
  
• 
  Aligning Market Researchwith Typeof Innovation.
  
• 
  Marketing Research Constrained by User Experience. The Effect of Prior Experience on Users’ Ability to Generate Or Evaluate Novel Products. Similarity-Dissimilarity Ranking.
  
• 
  Lead Users. Analyzing Lead User Data. Projecting Lead User Data onto the General Market of Interest.
  
• 
  Customer Visits. Elements of Effective Customer Visit Programs.
  
• 
  Insights From Empathic Design. Process to Conduct Empathic Design.
  
• 
  Steps in the Lead User Process.
  
• 
  Conjoint Analysis.
  
• 
  Quality Function Deployment. Implementation of Quality Function Deployment.
  
• 
  Biomimicry.
  

1. 
   Jakki J. Mohr, Sanjit Sengupta, Stanley F. Slater (2009), Marketing of High-Technology Products and Innovations: Jakki Mohr. (Chapter6 Marketing Research in High-Tech Markets).
   
2. 
   Roberto Verganti (2011) How Companies Can Systematically Create Innovations That Customers Don’t Even Know They Want, Harvard Business Review, October, pp. 114-120
   
3. 
   Eric Von Hippel (1986), Lead Users: A Source of Novel Product Concepts, Management Science, Vol.32, No.7
   
4. 
   Hoeffler,.S (2003), Measuring Preferences for Really New Products, Journal of Marketing Research,Vol.40, No.4, pp. 406–420
   
5. 
   Page A. L., Rosenbaum, H.F (1992), Developing an Effective Concept-Testing Program for Consumer Durables, Journal of Product Innovation Management, Vol.9, No.4, pp. 267–277.
   
6. 
   Peng, L. Finn, A (2008), Concept Testing: the State of Contemporary Practice, Marketing Intelligence and Planning, Vol.26, No.6, Pp. 649–674.
   

7. 
   Consumer Behavior, Segmentation and Adoption Process.
   

• 
  Issues in Understanding High-Tech Customers.
  

• 
  Design Thinking Factors.
  
• 
  Adoption and Diffusion of Innovations.
  
• 
  Factors Affecting Adoption of Innovation. Relative Advantage. Compatibility. Complexity. Trialability. Ability to Communicate Product Benefits. Observability.
  
• 
  Categories of Adopters. Innovators. Early Adopters. Early Majority. Late Majority. Laggards. Crossing the Chasm. Identify a Beachhead. Inside the Tornado.
  
• 
  Innovation-DrivenSegments. Market-DrivenSegments.
  
• 
  Customer Migration Decisions.
  
• 
  Consumers’ Paradoxical Relationships with Technology And Unintended Consequences.
  

1. 
   Jakki J. Mohr, Sanjit Sengupta, Stanley F. Slater (2009), Marketing of High-Technology Products and Innovations: Jakki Mohr. (Chapter7 Understanding High-Tech Customers).
   
2. 
   Daniel Yankelovich and David Meer (2006) Rediscovering Market Segmentation, Harvard Business Review, February, pp.122-131
   
3. 
   Segmenting When It Matters, Business Strategy Review Spring 2010, pp. 46-49.
   
4. 
   Jill Avery and Thomas Steenburgh (2012), Target the Right Market. A software company debates its strategic focus, Harvard Business Review, October, pp.119-123.
   
5. 
   Arun Lakshmanan & H. Shanker Krishnan (2011), The Aha! Experience: Insight andDiscontinuous Learning inProduct Usage, Journal of Marketing, Vol. 75 (November 2011), 105–123
   
6. 
   Cameron Philip (2007), Innovation and new product development: Sky+, a mini case study, The Marketing Review, 2007, Vol. 7, No. 4, pp. 313-323.
   
7. 
   Jacob Goldenberg, Sangman Han, Donald R. Lehmann, & Jae Weon Hong (2009), The Role of Hubs in the Adoption Process, Journal of Marketing, Vol. 73 (March), pp. 1–13.
   

8. 
   Technology and Product Management.
   

• 
  Technology Mapping.
  
• 
  Technology Identification. Patent Data Analysis. Use of a Matrix Map. Technology Classification by Matrix Map.
  
• 
  Make Decisions about Technology Additions. Make Decisions about Commercializing, Licensing. Ongoing Management. Technology Transfer Considerations.
  
• 
  Product Architecture. Modularity. Platforms. Derivatives. CustomizingComplexProducts.
  
• 
  ModularDesigns. IBM’s Experience. Visible Design Rules.Competing in aModular Environment.
  
• 
  Product Architecture. The Arrangement of Functional Elements. A Function Structure. A Typology of Product Architectures. Types of Mappings From Functional Elements to Physical Components. Interface Coupling. Types of Modular Architectures: Slot, Bus and Sectional.
  
• 
  Developing Services as Part of the Hi-Technology Product Strategy.
  
• 
  Product Change. Product Architecture Determines How The ProductCan Be Changed. Change Within the Life of a Particular Artifact. Change Across Generations of the Product. Product Variety.Variety and Flexibility.
  
• 
  Product Performance. Local Performance Characteristics and Modular Architectures. Global Performance Characteristics and IntegralArchitecture.
  
• 
  Differences in Product Development Management According to Architectural Approach.
  
• 
  Component Standardization. What are the Implications of Standardization?
  
• 
  Intellectual Property Considerations. Types of Intellectual Property Protection. Rationale for Protection of Intellectual Property. Managing Intellectual Property.
  

1. 
   Jakki J. Mohr, Sanjit Sengupta, Stanley F. Slater (2009), Marketing of High-Technology Products and Innovations: Jakki Mohr. (Chapter8 Technology and Product Management).
   
2. 
   Sunghae Jun, Sang Sung Park, Dong Sik Jang, (2012),Technology Forecasting Using Matrix Map and PatentClustering, Industrial Management & Data Systems, Vol. 112 Iss: 5 pp. 786 – 807
   
3. 
   Qu, T.; Bin, S.; Huang, George Q.; Yang, H. D. Two-Stage Product Platform Development for Mass Customization, International Journal of Production Research. Apr2011, Vol. 49 Issue 8, p2197-2219. 23p.
   
4. 
   Liu, Zhuo; Wong, Yoke San; Lee, Kim Seng, Modularity Analysis and Commonality Design: a Framework for the Top-Down Platform and Product Family Design, International Journal of Production Research. Jun2010, Vol. 48 Issue 12, pp. 3657-3680. 24p.
   
5. 
   Carliss Y. Baldwin and Kim B. Clark (1997) Management In an Age of Modularity, Harvard Business Review, October.
   
6. 
   Karl Ulrich (1993), The Role of Product Architecture in the Manufacturing Firm, Research Policy 24 (1995) 419-441
   
7. 
   Gertner, Jon; Kratochwill, Lindsey. The Risk of a New Machine, Fast Company, Apr2012, Issue 164, p104-133. 8p
   

9. 
   Marketing Communications for Innovations.
   

• 
  Integrated Marketing Communications. Media Advertising. Public Relations/Publicity. Direct Marketing. Trade Shows, Seminars, And Training. Catalogs, Literature, And Manuals. Telemarketing. Personal Selling.
  
• 
  Internet Advertising And Promotion. Display Ads. Search Ads. Pricing Models For Online Advertising. Optimizing Site for Search Engine Rankings. Web 2.0 And Web 3.0 Technologies. Viral Marketing. Mobile Marketing. Marketing in Virtual Reality Environment.
  
• 
  Website Development. Website Design. Building Site Traffic. Evaluating Website Effectiveness. Geo-Mapping.
  

1. 
   Jakki J. Mohr, Sanjit Sengupta, Stanley F. Slater (2009), Marketing of High-Technology Products and Innovations: Jakki Mohr. (Chapter11 Marketing Communication Tools for High-Tech Markets).
   
2. 
   Teixeira, Thales (2012), The New Science of Viral Ads, Harvard Business Review. Mar2012, Vol. 90 Issue 3, p25-27
   
3. 
   Kuang, Cliff (2012), Good Design Is Good Business, Fast Company. Oct2012, Issue 169, p78-89. 10p.
   
4. 
   Hof, Robert D. Facebook's New Ad Model: You, Forbes; 12/5/2011, Vol. 188 Issue 10, p106-110, 4p
   
5. 
   Thurston, Baratunde; Bergl, Skylar; Feifer, Jason; Friedell, Dan; Guerra, Erasmo; Karpel, Ari; Kelman, Elizabeth; Lidsky, David; Mccue, Matt; Mullany, Anjali; Rhodes, Margaret; Schomer, Stephanie. The Social Media Road Map. (Cover Story). Fast Company. Sep2012, Issue 168, P68-89. 22p.
   

• 
  Issues in Distribution Channel Design And Management.
  
• 
  Channel Structure. Direct Channels. Direct Sales. Sales Over The Company Website. Company-Owned Retail Outlets. Indirect Channels.
  
• 
  How Big A Sales Force
  
• 
  Types Of Intermediaries. Distributors. Resellers. Value-Added Resellers. Systems Integrators. Number Of Intermediaries To Use.
  
• 
  Retail Distribution Into Brick And Mortar Stores, Partnerships With Marketing Companies That Have Established Marketing And Distribution Channels, E-Commerce Websites, Licensing To Another Company In Exchange For A Royalty On Sales.
  
• 
  Evolution In Channels Structure Over The Technology Life Cycle. Channel Management. Governance Mechanisms. Legal Issues. Channel Performance.
  
• 
  Managing Hybrid Channels: Effective Multi-Channel Marketing. Distribution For “Digital” Goods. Understanding Gray Markets. Supply Chain Management Technologies.
  

1. 
   Jakki J. Mohr, Sanjit Sengupta, Stanley F. Slater (2009), Marketing of High-Technology Products and Innovations: Jakki Mohr. (Chapter9 Distribution Channels and Supply Chain Management in High-Tech Markets).
   
2. 
   Leslie, Mark; Holloway, Charles A. The Sales Learning Curve. (cover story). Harvard Business Review. Jul/Aug2006, Vol. 84 Issue 7/8, p115-123. 9p.
   
3. 
   Gilliland, Michael; Guseman, Sam. Forecasting New Products by Structured Analogy Journal of Business Forecasting. Winter2009, Vol. 28 Issue 4
   

1. 
   What is marketing concept?
   
2. 
   Why has customer orientation been criticized?
   
3. 
   What is the market orientation concept?
   
4. 
   What is the customer-led business?
   
5. 
   What marketing tools does customer-led business use?
   
6. 
   What customer-led businesses could you name?
   
7. 
   What is the problem with customer-led?
   
8. 
   Why is the value of traditional market research tools limited when it comes to developing innovative products or services?
   
9. 
   What is the market-oriented business?
   
10. 
    What marketing tools do market-oriented business use?
    
11. 
    What is ‘probe and learn process?
    
12. 
    What are the contributions of sales in NPD?
    
13. 
    What is contribution of sales to NPD performance on each stage?
    
14. 
    What is product development stage
    
15. 
    What is implementation stage
    
16. 
    What is launch stage?
    
17. 
    What is the value proposition? What are the three basic types of value proposition?
    
18. 
    What are the advantages of being a Product Leader (Prospector)? What are the risks?
    
19. 
    What are core competencies? Give an example of a firm’s core competencies?
    
20. 
    What is competitive advantage?
    
21. 
    Develop a marketing dashboard composed of 10 to 15 key metrics for a Product Leader.
    
22. 
    What is the culture of innovativeness? What factors make it hard for firms to remain innovative over time?
    
23. 
    What is unlearning and why is it important?
    
24. 
    What are core rigidities? How do they inhibit innovativeness?
    
25. 
    What is innovator’s dilemma? How does it inhibit innovativeness?
    
26. 
    What is the purpose of cross-functional product development teams?
    
27. 
    What are the characteristics of cross-functional teams that produce highly successful products?
    
28. 
    What is R&D – marketing interaction? Why is it important in high-tech companies?
    
29. 
    What are the barriers to effective R&D – marketing interaction?
    
30. 
    What are the ways to facilitate effective interaction between R&D and marketing personnel? What is knowledge-based economy? What are some of its characteristics?
    
31. 
    What is meant by phrase “The World Is Flat”?
    
32. 
    What are the various types of partnerships a firm might form? Provide an example of each?
    
33. 
    What are the various reasons for a firm to form partnership?
    
34. 
    What are the three factors a company should consider in choosing its strategy to set industry standards?
    
35. 
    What are the four strategies a firm has to set industry standards? What are the pros and cons of each?
    
36. 
    What is open innovation?
    
37. 
    Why are new product alliances more difficult to manage than other types of alliances? How should companies manage these alliances to generate successful new product innovations?
    
38. 
    How marketing research techniques must be matched to the type of innovation to ensure greater success and insight?
    
39. 
    What is concept testing and how is it used by high-tech marketers?
    
40. 
    What is conjoint analysis, and how can high-tech marketers use it to refine the product development process?
    
41. 
    What is customer visit program?
    
42. 
    What is empathic design?
    
43. 
    Who are lead users?
    
44. 
    What factors influence a customer’s potential adoption of an innovation?
    
45. 
    What are categories of adopters and their characteristics? What are the appropriate marketing strategies for each of the categories?
    
46. 
    What is the chasm?
    
47. 
    What are the key decisions a company must make to cross the chasm?
    
48. 
    How does segmentation depend on degree of innovativeness?
    
49. 
    What are the steps in segmentation?
    
50. 
    What is the digital convergence?
    
51. 
    What is a technology map?
    
52. 
    What is the “make-versus-buy” decision?
    
53. 
    Describe what-to-sell continuum.
    
54. 
    What factors affect a firm’s decision about what to sell?
    
55. 
    What is modularity? What are pros and cons of following a modular approach to product design?
    
56. 
    What is a product platform?
    
57. 
    What is bricks-and-clicks distribution model?
    
58. 
    The simultaneous presence of market uncertainty, technological uncertainty, and competitive volatility characterizes most high-tech environments. Explain.
    
59. 
    What is the FUD factor?
    
60. 
    What is a dominant design? Why is it important in high-tech markets?
    
61. 
    What are the factors giving rise to technological uncertainty?
    
62. 
    What is convergence? How does it contribute to competitive volatility?
    
63. 
    What is a technology life cycle?
    
64. 
    What are network externalities?
    
65. 
    Explain the following types of innovations: incremental versus breakthrough, product versus process, sustaining versus disruptive, organizational innovations.
    
66. 
    What is the contingency theory of high-technology marketing? What marketing tools are appropriately used for incremental innovations? What marketing tools are appropriately used for breakthrough (radical) innovations?
    
67. 
    Does high-tech marketing need to be different from marketing of traditional products? Why?
    
68. 
    What is a knowledge-based economy? What are some of its characteristics?