Markets in which technology assumes a central role are becoming driving forces of the economy. The authors label these “technology-intensive” (TI) markets. Despite their importance, however, there is not a clear understanding of the features of a TI market. Using scientific know-how as the foundational concept, the authors explore the nuances of know-how creation, dissemination, and use to identify eight features of TI markets. With a series of reputable empirical propositions, they also study four marketing decisions, beginning with the most fundamental, that is, the vertical positioning decision (the firm's decision about what it sells). Product design decisions (both platform and modularity), transfer rights decisions (incorporating both price formats and licensing restrictions), and migration decisions (whether and how to move customers through an ongoing stream of technological innovations) round out the set.
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