Analysis of Technological Innovation Performance according to the Technology Life Cycle: Focusing on the Early and Late Entrants of the Photovoltaic Industry
This paper deals with brand equity as a way to complement patents and other technological assets in technology intensive industries. The longitudinal case of Bayer Aspirin is presented. The discussion suggests that while Hi-tech start-ups build a competitive advantage through technology, they can also use this early period to build significant brand equity at limited marketing costs. In turn this brand equity may become increasingly important as the technology life-cycle unfolds. When the next technological revolution strikes, brands may serve as a shield to help the now well-established firms survive through the change.
Technological transfer is a complex and varied process, being realized out at different stages of technology readiness level. Being essentially a trading, technology transfer is fully subject to market laws. The technology transfer strategy and tactics are strongly influenced by the degree of technology's readiness level, systemic character, functional orientation and universality, technical and economic determination degrees that can be specified and determined in accordance with the stages of technology life cycle.
When Brands Complement Patents in Securing the Returns from Technological Innovation: The Case of Bayer Aspirin
