High technology product development in small firms: a challenge for marketing specialists

Abstract

The paper reports on an exploratory study into the organization and management of follow-on product development in British small high technology firms. Most firms were found to lack a formal marketing function. This can cause technical strengths to be inadequately exploited. It is argued that the deficiency can be overcome by adopting a more planned approach to product development. Marketing inputs are needed for this purpose. An important operational issue is how formal a marketing monitoring system is appropriate, and what type it should be.