Identification and Prioritization of Factors Affecting the Commercialization Strategy of Nanotechnology-Based Products in Iranian Industries

Abstract

This study aimed to develop and empirically test a conceptual model for identifying the factors associated with the effectiveness of commercialization strategies for nanotechnology-based products in Iranian industries and to determine the relative priority of these factors. This applied quantitative study employed a cross-sectional survey design. Data were collected from 385 questionnaires comprising 23 items rated on a five-point Likert scale and measuring six predictor constructs—marketing capabilities and strategies, technological capabilities and advantages, organizational and managerial capabilities, financial and economic resources, environmental and institutional conditions, and market and customer factors—along with commercialization strategy effectiveness as the outcome construct. The measurement model was evaluated using confirmatory factor analysis, while the structural relationships were examined through latent-variable structural equation modeling with maximum likelihood estimation. Bootstrap procedures and regression analysis based on composite scores were used to assess the robustness of the findings, and Johnson’s relative weights analysis was employed to determine the relative contribution of the predictors. The structural model explained 64.1% of the variance in commercialization strategy effectiveness. Technological capability had the strongest positive and significant effect (β=0.383), followed by market and customer factors (β=0.239), marketing capabilities (β=0.215), and organizational and managerial capabilities (β=0.189). The environmental–institutional dimension did not show a significant effect in the latent-variable model (β=0.103), although it became significant in the composite-score analysis, whereas the direct effect of financial and economic factors was not significant (β=0.009). Relative weights analysis showed that technological factors accounted for 29.8% of the explained variance, followed by marketing (21.5%), market and customer factors (20.0%), organizational factors (13.9%), environmental–institutional factors (11.0%), and financial factors (3.8%). The effectiveness of nanotechnology commercialization strategies is primarily associated with technological strength, marketing capabilities, and market and customer conditions; therefore, firms should prioritize technological maturity and demonstrable product advantages alongside market-oriented capabilities and customer responsiveness, while recognizing that financial resources alone may not directly ensure commercialization effectiveness.