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Taking Technology to Market Commercializing Technology: What the Best Companies Do

Taking Technology to Market Commercializing Technology: What the Best Companies Do. Taking Technology to Market Develop or Sell. Maximize Return on Technology Investment Plan for Fullest Market Exploitation of All Technologies Sell for Lump Sum or Royalty Direct Sale License.

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Taking Technology to Market Commercializing Technology: What the Best Companies Do

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  1. Taking Technology to Market Commercializing Technology:What the Best Companies Do

  2. Taking Technology to MarketDevelop or Sell • Maximize Return on Technology Investment • Plan for FullestMarket Exploitation of All Technologies • Sell for Lump Sum or Royalty • Direct Sale • License

  3. Exploiting TechnologiesKey Questions Problems Involved in Selling • Giving Away its “Seed Corn” ? • Jeopardizing the Future • How, To Whom, and When ? • Relationship Between Sale of Technology and Sale of Product Based on that Technology ?

  4. Selling TechnologiesWhy ? • Costs and Risks of R&D • Strategic Fit • Limited Protection By Patents • Control Technology Diffusion • Financial or Production Limitations • Import Restrictions • Antitrust Legislation

  5. Technology Life CycleStage 1: Technology Development • Further Development • Strategic Fit; Identifiable Market ? • Financial Resources; Production/Marketing Capabilities • Rate of Return ? • Alternatives • Partnership • Sell

  6. Technology Life CycleStage 2: Technology Application • Technology To Be Applied To a New Product • High Costs --- New Processes • Produce, Sell, or License ? • Development Costs • Projected Revenues • Cash Position • Perception of Importance

  7. Technology Life CycleStage 3: Application Launch • Factors Against Licensing • Lack of Skilled Buyers Could Damage Technology’s Reputation • Long Lead Times • Government Restrictions • “Not Invented Here” • Purchaser’s Resistance to Change • Greater Market Acceptance (Seller)

  8. Technology Life CycleStage 4: Application Growth • Market Value of Technology at Maximum • Timing is Crucial • Factors to Consider • Market Size • Technological Leadership • Standardization

  9. Technology Life Cycle • Stage 5: Technology Maturity • Timing Not Crucial • Production Costs Key • Stage 6: Degraded Technology • Third World Markets (not only technology but also experience) • Technology Middlemen

  10. Technology SalesMarketing of Technology • Coherent Strategy for Full Portfolio of Technologies • Acquisition/Divestment of Individual Technologies • Value of Direct Sale • License/Product Sales Relationship • Reliance on Technology Marketers

  11. Technology SalesThe Best Strategy “To seek both wide application and standardization of a technology while discouraging other companies from producing substitute technologies”

  12. Commercializing Technology:What the Best Companies Do • Commercialization of Technology/ New Product Development; Battleground of the 90s and beyond • Leading Companies • More New Products and Processes • More New Technology • Fast to Market • More Markets

  13. Commercializing TechnologyThe Commercial Imperative • Proliferation of New Technologies • Rapid Obsolescence of Existing Technologies • Shrinking Product Life Cycles • Technology Diffusion • Cost of Technology Development • Fragmentation of Markets

  14. Commercializing Technology:Measuring Commercialization Capability • Time to Market • Range of Markets • Number of Products • Breadth of Technologies

  15. Loss of Profits Introduced six month late -31.8% Quality problems -> 10% price discount -14.9% Comparability problem -> 10% volume reduction -3.8% Product cost goal exceeded by 10% -3.8% R&D budget overrun by 10% -2.3%

  16. Commercializing Technology:Building Commercialization Capability • The Commercialization Process • Make Commercialization a Priority • Set Goals and Benchmarks • Build Cross-Functional Skills • Promote Hands-On Management to Speed Action and Decisions

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