Abstract

Development of a successful strategic marketing program for the commercialization of new technologies represents a challenge for small and medium sized technology-based firms. The mechanism of developing successful marketing strategies for technological innovations is a complex process from design to implementation. Technology-based SMEs play an important role in facilitating the “knowledge-based” or “smart” economies. However, technological superiority is not a guarantee for the success of a high-tech SMEs. Instead, the odds of success are maximized by a combination of technology superiority and marketing capability. In this paper, the characteristic of technology-oriented small and medium enterprises has examined according to the published key studies in the field of small and medium sized companies and the factors and barriers to the success of the companies mentioned briefly. In addition, since marketing has been recognized as one of the success factors of technology based small and medium enterprises, we reviewed the challenges and solutions of technology marketing to remind the managers of these companies that the success of a pure technology will not ensure the success of the company and marketing as one of the key elements and critical component of the success of technology-based small and medium enterprises should be a priority in their activities.