Brandname: DynaCity
Company Name: DynaCity Technology (HK) Ltd
 
Management Function Analysis
The company is a good illustration of how technology innovation can successfully marketed to the target customers, despite the high failure rate of such technology product being accepted by industrial users.

It should be borne in mind that technology-based products are different from consumer products in that they are developed in a laboratory away from the marketplace and in that they are new and not necessarily related to other products.

The key to success of technology-based products is the involvement of marketing in the entire development process. Products go through three stages of development: 1. the idea stage, 2. the product development, design, and engineering stage, and 3. the marketing stage. The application of marketing concepts to bridge the gaps between these stages will produce a more integrated framework for developing a product. This will keep innovations from getting too far and too expensive before they finally fail. Technology-based companies especially need to utilize marketing concepts. The marketing concept must be used early in the development cycle to predict success or failure.
 
Implications for SMEs
SMEs should be aware that majority of successful innovations grow as a response to the market rather than from any new technology availability. Those technology-driven innovations that succeed are in the minority, usually the intended customer recognize neither the need for the innovation nor its benefits. Often the intended customers do not understand the new technology product or find the product to be "prohibitively" expensive.

In planning for an innovative product development, investment and effort in "Market" development should take place as soon as the "Idea" development takes off and should continue with increasing effort throughout the "Product" development stage and beyond.