Abstract
This study proposes a new “three-stage technology–product–market” model to analyze the technology commercialization process. This model revises the technology acceptance model to more accurately consider the market potential of new technologies from a consumer perspective. This approach can be used to supplement developers’ own evaluations of technology. To test the model empirically, an online survey of 350 end users was conducted regarding their intention to purchase the “Wireless USB,” which uses “Zing” technology and was developed by the Electronics and Telecommunications Research Institute. The data was used to test the model using a structural equations approach. We indirectly confirmed the existence of gaps in the technology commercialization process by verifying the mediating effects of the productization stage. Results suggest that end users may not purchase a product, even if they perceive the technology to be innovative; the product purchase intention is significantly influenced by its perceived value. Therefore, developers must understand the concept of technology value for productization in order to refine a technology according to market demand.
Highlights
Rapid changes in the business environment, such as the diversification of information and knowledge sources and technology convergence, have highlighted the limitations of the existing closed innovation paradigm
The fit of factor analysis was conformed according to the typical model fit criteria of the comparative fit index(CFI), turker-lewis index (TLI), root mean square of approximation (RMSEA), and standardized root-mean-square residual (SRMR)
The analysis shows that the effect of perceived technology innovativeness (PTI) on the purchase intention (PI) was mediated by step 2, which excluded the mediating effects of PEV and PRV
Summary
Rapid changes in the business environment, such as the diversification of information and knowledge sources and technology convergence, have highlighted the limitations of the existing closed innovation paradigm. In order to secure and sustain business competitiveness, there is a need to shift to an open innovation paradigm. Open innovation is a paradigm that enables partnerships for sharing ideas, technologies, and resources that thereby generates capabilities that the firm could not develop internally. Technology innovation based on cooperation with partners such as these is emerging as a key factor in promoting a virtuous cycle of national economic growth, as well as in creating firm growth and positive economic performance [1,2]. The most technologically advanced countries are accelerating investment in research and development (R&D) by supporting technology innovation activities of this nature
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