Technological innovations are the basis of the development of new products, production processes, and business formats, contributing decisively to the success of contemporary business strategies. Recognition of the importance of this issue to the development of enterprises and regions has been reflected in an array of studies and theoretical models seeking to improve technological innovation management in organizations. The present study is part of this context. Based on a broad literature review, it uses knowledge about technological innovation management to propose and test a theoretical analytical framework to evaluate and contribute to the improvement of the innovation management process in manufacturing enterprises. The various theoretical constructs used to create the proposed analytical framework address aspects specific to the success of the technological innovation process. Although it is important to deepen the focal point prioritized by the constructs in their analysis, by focusing on specific factors, they can bias the manager’s perspective or hinder a more holistic and complete view of the problem. The proposed framework was tested using three case studies in the peanut agrifood business in the State of São Paulo, Brazil. Main results show that it was capable of capturing the differences in how the studied enterprises carried out technological management. The three companies were classified into one of two groups. The first prioritized process innovation, which responds to direct stimuli from the companies that purchase their product. These companies do not sell directly to end consumers but to other processing companies. The second group privileged product innovation guided by the demands of the final consumer market. The analyses carried out provide data to establish technological management processes adapted to the competitive strategies of the investigated organizations.