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With customer needs changing so rapidly, can high‐tech companies develop strategies to succeed in their markets?

Two trends confront managers in the 1990s. Technology will become increasingly important, and firms will tend to become more “market‐oriented”. This will pose considerable challenge to managers responsible for the development and commercialization of new products. Argues that traditional approaches will not work because time‐to‐market will have to be reduced, product technology content will have to be increased, and competitive intelligence will have increased impact on development efforts. Discusses traditional approaches to product development and commercialization and presents a model which integrates engineering concepts and market‐oriented perspectives.

Strategy is examined, using newness of products, markets and technology as the variables. An understanding of newness with reference to the concept of continuous vs. discontinuous innovation along these three dimensions could facilitate evaluation of market and profit potential and the risk factor. Furthermore, this classification system may suggest new business opportunities by indicating gaps in the market and pointing out the critical factor(s) associated with those gaps.

This chapter provides an overview of the marketing strategy development process in the commercialization of breakthrough technologies. Important concepts and elements that are considered critical when developing market applications are presented with emphasis on three key decisions: target market selection, segmentation, and positioning. These strategic decisions will guide the more tactical considerations relating to the specific elements, or marketing mix, of the product’s marketing strategy. Marketing strategy development is a dynamic process that is impacted by many factors. This chapter highlights the dynamic nature of this process as well as providing insight as to the fundamental considerations in strategy formulation.

The paper provides an overview of research published in the innovation and operations management (IOM) literature on 15 methods for cost management in new product development, and it provides a comparison to an earlier review of the management accounting (MA) literature (Wouters & Morales, 2014).

This structured literature search covers papers published in 23 journals in IOM in the period 1990–2014.

The search yielded a sample of 208 unique papers with 275 results (one paper could refer to multiple cost management methods). The top 3 methods are modular design, component commonality, and product platforms, with 115 results (42%) together. In the MA literature, these three methods accounted for 29%, but target costing was the most researched cost management method by far (26%). Simulation is the most frequently used research method in the IOM literature, whereas this was averagely used in the MA literature; qualitative studies were the most frequently used research method in the MA literature, whereas this was averagely used in the IOM literature. We found a lot of papers presenting practical approaches or decision models as a further development of a particular cost management method, which is a clear difference from the MA literature.

This review focused on the same cost management methods, and future research could also consider other cost management methods which are likely to be more important in the IOM literature compared to the MA literature. Future research could also investigate innovative cost management practices in more detail through longitudinal case studies.

This review of research on methods for cost management published outside the MA literature provides an overview for MA researchers. It highlights key differences between both literatures in their research of the same cost management methods.

This chapter provides an overview of the marketing strategy development process in the commercialization of breakthrough technologies. Important concepts and elements that are considered critical when developing market applications are presented with emphasis on three key decisions: target market selection, segmentation, and positioning. These strategic decisions will guide the more tactical considerations relating to the specific elements, or marketing mix, of the product's marketing strategy. Marketing strategy development is a dynamic process impacted by many factors. This chapter highlights the dynamic nature of this process as well as provides insight into the fundamental considerations in strategy formulation.

The purpose of the study is to investigate critical factors affecting individuals’ intention to adopt internet of things (IoT) products in healthcare.

An integrated model was developed based on technology acceptance model (TAM), innovation diffusion theory (IDT), technological innovativeness (TI), protection motivation theory and privacy calculus theory. The model was tested with 426 respondents (222 females, 204 males) using partial least square structural equation model with all data grouped by gender.

Based on the results of the complete model, perceived advantage (PA), image and perceived ease of use (PEOU) constructs have a significant effect on intention to adopt IoT healthcare technology products. The results show that for females, compatibility and trialability have more impact on PEOU whereas for males PA has more impact on PEOU. Image, perceived privacy risk, perceived vulnerability have more impact on males when compared to females.

Research conducted only among Turkish people.

This study investigated adoption of future technology, “internet of things”, products in healthcare from a behavioral perspective by integrating various theories. The reason is that before launching any technology into the market, its facilitative factors should be researched for the people who are going to use this in their daily routine.

The purpose of this paper is first, to identify the institutional variables that influence the technology acquisition intent (TAI) in new high‐tech product development (NPD) process; second, to identify and confirm the consequence of TAI in the Stage‐Gate system of NPD process; and third, to validate the moderating role of Perceived Risk and Project Duration on the “TAI to new product commercialization (NPC) relationship” in the NPD process.

The research design for this generic study involved two phases: exploratory and descriptive. The theoretical framework emanated from the exploratory phase and is validated by conducting a global survey on 215 high‐tech product marketing firms.

The institutional variables – Dominant Design and Network Externalities – directly influence a firm's TAI that in turn leads to NPC. While the study confirms that the longer project duration negatively moderates to TAI to NPC relationship, no support was found for the influence of increased risk perception on the same.

The study explains the rationale for marketer's efforts toward dominant design and network externalities. Also, the NPD teams should be cautious about project duration, as uncertainty associated with longer project duration reduces the TAI, and thereby inhibits the successful NPC.

By empirically investigating the influence of institutional variables on a firm's TAI, the study significantly contributes to extant theories on NPD. Also, the study results have significant implications for high‐tech product marketing theory and practice in the context of emerging market economies.

This study examines the role of hybrid products employed in companies' innovation strategy within three American industrial sectors: tires, typewriters and photography cameras.

The authors selected historical cases that enabled us to present the role of hybrid products in periods of discontinuous change. Different sources are employed in this study: papers, books, cases, working papers, videos, manuals and product catalogues, companies' annual reports, company websites, advertising, collectors' websites and museums, in addition to press and other media reports.

The authors’ historical case analysis points to two forms of hybrid products. (1) Exploitation-hybrid, which incorporates significant elements from the existing dominant design and aims at extending the revenue-generating opportunities of the existing products. (2) Exploration-hybrid, which works as an offensive strategy, as the firm uses the exploration-hybrid to promote a gradual and controlled adoption of new technology by reducing risks and the cost of change for the customer.

The authors’ proposed definitions strengthen the idea that hybrids are not only a reflection of organizational inertia (exploitation-hybrid). Hybrids can also mean a more proactive stance in the strategy of developing and adopting new technology (exploration-hybrid).

This study acknowledged hybrid products as a learning instrument that materialized the organizational ambidexterity, favoring at the same time exploitation, generally attributed to organizational inertia, and the exploration of new segments of customers or the use of new technologies.

Some small and medium‐sized enterprises (SMEs) in the Thai food industry put a lot of effort into keeping up with changes of consumption patterns locally and in the South East Asia region. To see how successfully they are able to create competitive advantage, aims to examine the impact of environmental scanning practices on new product development (NPD) outcomes among SMEs in the Thai food industry. The technology strategy of the company influences how much it uses environmental scanning, and technology turbulence can play a role in exactly how critical is good knowledge of the external environment.

Qualitative research was conducted using semi‐structured in‐depth interviews with food experts and SME owners.

Results suggest that SMEs that practice environmental scanning are better able to develop appropriate new food products. Technology strategy plays a role in how much scanning they use, with a more proactive technology strategy requiring more extensive scanning. Environmental turbulence, including changes in technology, can cause failure in NPD if scanning does not keep companies aware of the situation.

A simple conceptual model is proposed to show how technology strategy, technological turbulence, and environmental scanning affect NPD performance.