Commercialization of High-tech Radical Innovations: Case Studies of X-ray Imaging Technologies

Despite the importance of commercialization in innovation processes, commercialization remains an under-researched area, especially in the context of technology offerings. Moreover, being very technology-driven, most high-tech companies face challenges with their marketing activities. This thesis is one of the rare attempts to investigate commercialization processes of high-tech companies. It aims to answer two primary research questions:. 1. What is the practice of commercialization in high-tech companies?. 2. What is the practice of marketing in high-tech companies?. The topic of commercialization was approached from two perspectives: the innovation process and high-tech marketing. Thus, an extensive literature review was conducted and theoretical knowledge was built on both of these topics. The review covered the main theories of the innovation process, the product and technology specific commercialization practices, managerial implications, as well as the most relevant technology marketing approaches and strategies on offer. In order to investigate how the theoretical knowledge about commercialization corresponds to company practices in real-life scenarios, a case study methodology was applied. Seven companies dealing with X-ray imaging technologies were interviewed on the issues of commercialization and other market-oriented activities. The case study aimed to build a 'big picture' of commercialization, thus cases were selected from different value chain positions, including technology providers, original equipment manufacturers and end-users. The empirical findings of this study correspond to the theoretical knowledge; however they reveal some additional insights as well. Market-oriented activities in high-tech companies play an important role, especially in the early phases of the innovation process. Moreover, high-tech marketing relies heavily on understanding the market and building the customer's awareness, as well as positive product image. Based on these insights, six managerial propositions were formulated as constructive explanations for the given phenomena