Large scale volume manufacturing is not a characteristic of this group. They recognize broader opportunity horizons for their technology that can leverage their already served markets or permit new market entry. Their market and manufacturing focus greatly compliments their technology commercialization. The commercialization process requires time, money, but above all else, the vision and persistence of senior management to stay with the process. The definition of technology commercialization will vary from organization to organization based on their core competencies and business goals.
Technology based organizations face enormous challenges in taking technology to commercial markets.
Companies must know the impact their technology will have on the market to be served against the timing of its maturity to a product stage. They are better positioned when they can set the pace and direction of technological development, be recognized for it by their industry and be able to express independent technical actions and set new directions. A technology due diligence providing technology assessments, technology forecasts and industry trend analyses is an essential part of the process. For entry into new markets, the development of new products and product portfolios, the choice of in-house manufacturing or outsourcing, determination of product pricing, the selection of market channels of distribution, creations of target market reach strategies, the developing of strategic marketing and sales strategies and much more will need to unfold in a planned and orderly fashion. However, leading up to these tasks and full commitment to the commercialization process are fundamental and focused market research, strategic market analysis, needs assessments and competitive analysis.