Marketing of technological knowledge: an empirical analysis of licensing activities of university TLOs in Japan

Abstract

Technology licensing can be interpreted as a marketing activity. Many companies as well as university technology licensing organisations (TLOs) that pursue profit from technological assets recognise the significance of the marketing perspective on technology licensing. However, not all the companies and TLOs are able to achieve a satisfactory performance in their activities. This is mainly because the marketing of technology needs a different approach from those of the marketing of consumer goods, service goods and industrial goods. Technology as knowledge is invisible and highly uncertain in the process of value realisation, and this requires idiosyncratic marketing approaches. In this paper, we address the nature of technology marketing in comparison with the marketing of other goods and discuss key factors of success for higher licensing performance based on a questionnaire survey and the case analysis of TLOs in Japan. We will further discuss the difference in approaches depending on the type of technology.