Bringing to Market Technological Innovation: What Distinguishes Success from Failure
Other literature type, Article
Massis, Alfredo De
- Publisher: InTech
International Journal of Engineering Business Management,
(issn: 1847-9790, eissn: 1847-9790)
Management. Industrial management | Commercialization of innovation; high-tech marketing; early market; mainstream market; adoption network | mainstream market | HD28-70 | Technological innovations. Automation | early market | high-tech marketing | adoption network | Commercialization of innovation | HD45-45.2
Commercialization is a critical step in technological innovation. Nevertheless, many scholars believe that it is often the least well-managed activity of the whole innovation process. The launch stage seems to be particularly critical in high-technology markets because of the volatility, interconnectedness and the proliferation of new technologies they experience. However, academic and practitioners' literature has not, so far, developed a clear understanding of the factors that distinguish an effective commercialization from an unsuccessful one, especially in high-technology environments. This paper discusses the results of a research project that aimed to understand the ingredients for success in the commercialization of a technological innovation. The first stage of the researcher consisted of a comparative historical analysis of 18 innovations, which were commercialized in consumer high-tech markets in the last 30 years. The analysis advocates that an effective commercialization comprises three sub-strategies: Early adoption strategy, Adoption network configuration strategy and Mainstream adoption strategy, with each one characterized by a coherent set of commercialization dimensions. The relative importance of each sub-strategy in determining the innovation commercial success depends on the type of innovation that is commercialized, be it radical or incremental and discontinuous or continuous.