Navigating commercialisation challenges during a period of market instability: a case study of RFID tag-based products in the oil and gas industry
by Jason Hannam; Ben Zoghi
International Journal of Technology Transfer and Commercialisation (IJTTC), Vol. 20, No. 4, 2023

Abstract: With the 2020 COVID pandemic and political factors, technology stakeholders face bankruptcy threats and economic challenges. Despite long-term hope, the reluctance to invest in new technology complicates product commercialisation in the oil and gas (O&G) industry. This case study delves into RFID-based product commercialisation, enhancing reliability in drilling operations. Explored through a fictitious company, Integrated Drilling Products (IDP), in Texas, USA, data is gathered through literature, interviews, and surveys with O&G industry employees. Market analysis and financial return calculations provide insights into the commercialisation process, excluding product launch and delivery, suggesting strategies for research and development growth. In conclusion, this study asserts that even a basic commercialisation model aids decision-making in small businesses. It is relevant for leaders of small or medium-sized businesses navigating commercialisation challenges in unstable markets.

Online publication date: Mon, 26-Feb-2024

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