Technology Marketing

While the role of technology in continues to evolve in today' s world, becoming more multi-layered and complex, it is necessary that the marketing of that technology must evolve as well. Thus, technology marketing can be defined as a process involving the planning and executing of the concept, pricing, distribution, promotion of technology so that exchange activity can take place. The idea behind the term technology marketing is different depending on the user. In most developed countries, especially the West, technology marketing is seen as marketing for high technological products, in other words it is not seen as the marketing of technology but the marketing of technology intensive products. In accordance with the above technology characteristics, technology marketing also has different characteristics to the marketing in other areas:

• High risk: The burden of high risk is felt by the decision maker in relation to technology marketing. With technology itself being intangible, the risk becomes greater with more complex and elaborate the technology and the life cycle becomes shorter.
• Long transfer period and procedural complexity: technology transfer are more complex than the transfer procedure of general products and often take a long period of time.
• Importance of time management: With the shortening of technology life cycles and the rapid increase in development speed, efficient time management is more important. This means that if there is hesitation after technology development, it can be soon weeded out from the market.
• Importance of opinion adjustments between transfer parties: technology buyers and sellers are all comprised of many sections, and there are many cases where their attitudes differ. Differences in opinion often occur between the research personnel and the marketing manager within the selling organization, and between the high level management and the technology director within the purchasing firm or organization. This is an obstacle factor in technology transfer and transactions.