A theoretical framework for identifying appropriate marketing approaches across the product development life cycle for biomedical science SMEs

Abstract

PurposeAn investigation of the marketing approaches for biomedical science small- and medium-sized enterprises (SMEs) and organisations in the United Kingdom (UK) was carried out; the research question is as follows: Should the marketing approaches for biomedical science SMEs change as their product or service moves along the development life cycle?Design/methodology/approachAn online questionnaire was used, which petitioned biomedical science SMEs and organisations in the UK to investigate the marketing tactics or approaches used for the different products and services they offered; the results were analysed by comparing the results to recognised marketing approaches in the literature and by mapping those approaches against the established technology readiness levels (TRLs).FindingsA direct relationship was seen between the status of a product or service in relation to its development life cycle, and therefore the relevant TRL of the product and service, and the appropriate marketing approach for that product or service.Originality/valueThis paper offers a contribution to the literature, in which a theoretical framework is proposed for determining the appropriate marketing approach for biomedical science SMEs by understanding the maturity of the products offered by a company using the established TRL. The theoretical framework maps the TRL against known marketing approaches; this framework should be used as a guide for biomedical science SMEs as a tool to refine and evolve their overall marketing approach as the product portfolio matures along the TRL.