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Goods in a market are typically presented in discrete categories so that consumers can easily find their way among the myriad of products available. However, sub‐categorical distinctions are often less clear. This study aimed to explore how consumer perceptions of products within a category relate to their sensory properties. By analyzing how consumers sorted energy bars and the vocabulary used to describe the resulting clusters, we found that consumers generally agree on how they perceive bars high in protein. However, energy bar consumers with high familiarity demonstrated greater levels of differentiation between clusters compared to energy bar consumers with low familiarity. They were also more consensual in their sorting. Furthermore, sensory properties were found to play a larger role in determining product clusters for consumers with high familiarity than with low familiarity. These findings shed light on the factors influencing consumer perception of energy bars. Additionally, this approach offers a simple way to investigate consumer perception of a product category and could be useful to marketers and product developers who wish to refine their offerings to better meet consumer expectations. Practical Applications: The method for category appraisal described in this paper emphasizes consumer perception of products and factors, such as sensory properties and nutrition facts, that influence these perceptions. It departs from traditional approaches that focus on individual product descriptions and instead focuses on product groupings perceived by consumers. This approach allows for deeper insights to be obtained about product categories as a whole, which can inform effective marketing strategies and efficient product development. [ABSTRACT FROM AUTHOR]

A major challenge in new product development is how to increase consumers' adoption of new offerings. Using the socio‐ecological perspective, we reveal a largely ignored but important social factor that alters consumers' new product adoption. Specifically, we propose that residential mobility—the frequency with which individuals change their residence—acts as an antecedent of new product adoption. Six studies—using different operationalizations of residential mobility—provide convergent evidence that residential mobility (vs. stability) augments new product adoption in both laboratory settings and real business settings. This effect is driven by openness to new experiences and moderated by the voluntariness of moving. Our findings add to the literature on new product adoption and residential mobility. Moreover, marketers should take residential mobility into full consideration when designing marketing strategies for new products and presenting contextual cues to activate consumers' residential mobility mindset to enhance their acceptance of new products. [ABSTRACT FROM AUTHOR]

How can business respond to the challenge that Greta Thunberg has presented to world leaders? Sustainable marketing, as part of a larger strategy of meeting sustainable goals, is one way. It has become an important practice in the 21st‐century business world. Without a healthy society and environment, economies will fail, and businesses will die with them. Thus, companies increasingly realize that investing in social and environmental improvements not only adds to their credibility; it also increases their long‐term profitability. Consumers expect companies to develop sustainable marketing strategies. But it is difficult for companies to keep up with these rising expectations. As a result, there is often a gap between sustainable marketing efforts and consumer demands. Those demands can be unrealistic in terms of the cost of compliance and the time required to alter production processes. Sustainable marketing makes sense only as part of a strategy that will guide all of the actions of a business, not just product development, sales, and marketing. Since governments are slow to take up the challenge offered by Greta Thunberg, the future of the planet depends on the actions taken by companies to protect the environment and create a better society. [ABSTRACT FROM AUTHOR]

The initial screening decision that marketing managers make is critical. It requires the selection of what innovation project to invest in, which is fundamental to marketing success. However, our knowledge of how managers make these decisions and how this impacts performance is limited. By drawing upon cognitive psychology and the managerial decision‐making literature, we address two critical questions. The first question focuses on identifying specific decision‐making types (e.g., specific heuristics, intuition) used when making an innovation screening decision. Based on this analysis and prior research, we develop specific decision‐maker profiles about how an individual manager decides. The second research question is about connecting these profiles with performance. Specifically, it addresses what the consequences of different decision‐maker profiles are on the perceived accuracy and speed of decision‐making? Data were collected from 122 senior managers in these industries. We find that when heuristics are used alone, or concurrently with intuition, managers make decisions that are as accurate as when they rely on analytical decision‐making. However, the process is significantly faster. The findings provide an important step toward a more comprehensive understanding of decision‐making at the front‐end of innovation. [ABSTRACT FROM AUTHOR]

At the time of entry, market pioneers are known for emphasizing major product development projects. After being in the market for many years, however, do market pioneers, early followers, and late entrants maintain different product development strategies? Data from 2273 established manufacturing businesses reveal that market pioneers have the highest probability of engaging in product development, which covers product R&D spending as well as new product sales. Even so, market pioneers and early followers tend to emphasize minor projects, such as product improvements and line extensions. Late entrants are less likely to engage in product development, but those that do tend to emphasize major development efforts. [ABSTRACT FROM AUTHOR]

We test theories of product differentiation and firm capabilities using data from the U.S. automobile industry. We find managers introduce new models close to their existing ones but far from rival models. We also find entrants and foreign manufacturers locate models closer to rival models. These results are consistent with both economic models of product differentiation and theories of firm capabilities. [ABSTRACT FROM AUTHOR]

This research examined the effects of timing, order and the durability of first mover advantages by analyzing the stock market reactions to new product introductions and imitations. The major findings are that both timing and order of moves are important and that rival reactions undermine the durability of first mover advantages. More specifically, (1) early and fast movers achieve greater gains than late and slow movers, and (2) first movers suffer at the time of new product imitations. [ABSTRACT FROM AUTHOR]

This study investigates how important it is for a firm to select what turns out to be a dominant design in a technology-driven industry. Using the personal computer industry as a case study, this research shows that firms are not doomed when their entry design choices turn out to be 'wrong.' For early entrants, we found that switching to the dominant design is associated with increased chances of survival and market share. Contrary to our expectations, we found that even later entrants that switched to the dominant design also enjoyed higher survival rates and greater market position. [ABSTRACT FROM AUTHOR]

The article focuses on the significance of understanding the changing and evolving needs of customers and to address these by delivering real value to the customer. Greater geographical reach achieved by competitors and becoming smarter and more inventive at differentiating their offerings is mentioned. A chart is presented depicting simple evolution of differentiators, linked to the Product-Market Life Cycle.

Large sunk investments in advertising allow managers to credibly preempt potential entrants by introducing new products prior to anticipated increases in market growth. Previous investment in advertising can lower a firm's cost to introduce new products allowing it to credibly preempt potential entrants. Entrants may not have enough residual share to find it profitable to enter later, and incumbents find it profitable to keep new products in the market even if entrants choose to enter. I present empirical evidence from the RTE cereal industry. [ABSTRACT FROM AUTHOR]

The strategy focus of over 2500 new ventures across six different industries was examined to identify what dimensions coalesce into distinct configurations. The supposition that traditional strategy typologies are inadequate to describe the breadth of differentiation exhibited among new ventures was supported. Factor and cluster analysis revealed six generic new venture strategy archetypes that can be distinguished along two dimensions;scope of segmentation, and product vs. marketing emphasis. The extent to which the archetypes tend to dominate in different industries was found to vary according to the industry's position on the industry supply chain. Strategies with a narrow scope of segmentation tended to prevail in industries near the end of the supply chain, whereas those that adopted a broad approach tended to predominate in industries near the beginning or middle of the supply chain. [ABSTRACT FROM AUTHOR]

Theories of organizational renewal and organizational design often bear little relationship to the complex murky day-to-day realities people face. This paper develops an understanding of the renewing organization based on the practice of product innovation. The practice of product innovation is conceived of as the creation and exploitation of knowledge which links market and technological possibilities. Four clusters of market-technology knowledge are described and metaphors for their creation are developed. Then, three organizing principles which can sustain the ongoing development and exploitation of market-technology knowledge are described. The model provides a realistic understanding of the practice of product innovation and of the renewing organization. It also shows how innovation, strategy, and organizational design are inextricably linked. [ABSTRACT FROM AUTHOR]

This research considers two alternative timing games, the precommitment game and the preemption game, where duopoly firms choose their respective timing of market entry and postentry profits are generated by price competition in a spatial model à la Hotelling (1929). We find that the time of first entry is increasing and the time of second entry is decreasing in location differentiation. The results are robust and valid both from an equilibrium analysis and from a welfare analysis. We also note that the difference in equilibrium entry times is too close from the viewpoint of social welfare. [ABSTRACT FROM AUTHOR]

ABSTRACT Accounting for social network effects in marketing strategies has become an important issue. Taking a step back, we seek to incorporate and analyze social network effects on new product development and then propose a model to engineer product diffusion over a social network. We build upon the share-of-choice (SOC) problem, which is a strategic combinatorial optimization problem used commonly as one of the methods to analyze conjoint analysis data by marketers in order to identify a product with largest market share, and show how to incorporate social network effects in the SOC problem. We construct a genetic algorithm to solve this computationally challenging (NP-Hard) problem and show that ignoring social network effects in the design phase results in a significantly lower market share for a product. In this setting, we introduce the secondary operational problem of determining the least expensive way of influencing individuals and strengthening product diffusion over a social network. This secondary problem is of independent interest, as it addresses contagion models and the issue of intervening in diffusion over a social network, which are of significant interest in marketing and epidemiological settings. [ABSTRACT FROM AUTHOR]

This paper investigates the relationship between investments in marketing innovation, that is, the way in which technologically unchanged products are designed, priced, distributed, and/or promoted, and a firm's new product performance. Marketing innovation, such as calorie-based packaging or unusual distribution channels, may lead to new products. However, it is unclear whether they pay off, particularly when the firm follows a dual strategy, that is, investing in both innovative marketing and R&D at the same time. We draw from theory on competence development as well as diffusion of innovation and argue that pursuing a dual strategy lowers performance, an effect that we attribute to the role of complexity in innovation. Based on a mixed methods study that integrates a data set of 866 firms from a representative set of industries in Germany and extensive interview evidence, we find empirical support for our hypotheses. Our research contributes to the emerging stream of literature that seeks to better understand the role of marketing in firms' innovation processes. [ABSTRACT FROM AUTHOR]

The article discusses the antecedents, triggering mechanism and outcomes of entrepreneurship. It cites on the conducted entrepreneurship-related research to clearly define entrepreneurship and identify its key antecedents. The article also discusses the enduring entrepreneurship that needs the creation of products and services, adoptation of innovative technology and enter new market.

This paper examines whether investors' decisions are influenced by the word content of newspaper reports of new product announcements. Using textual analysis we find that announcements of new products covered by financial newspapers with positive word content earn significant abnormal returns. These returns are 270 basis points higher than new products without positive word coverage, and such announcements bring negative impact to their rival firms' value. Our results suggest that the market reacts to the linguistic content of the new product announcement rather than to the announcement itself. [ABSTRACT FROM AUTHOR]

The constant and successful market introduction of new products is of major concern to companies throughout all industries. However, empirical research points to high failure rates of innovations, indicating that most new products fail as they are rejected by consumers due to their resistance to innovation. Several studies have confirmed the importance of passive innovation resistance as a dominant barrier, which has to be overcome before new product adoption can start. However, empirical evidence on how to overcome passive innovation resistance is still lacking. This study intends to address this gap by evaluating the effectiveness of marketing instruments (i.e., mental simulation and benefit comparison) to reduce negative effects of passive innovation resistance on new product adoption. The results of a scenario-based experiment (n = 679) confirm high effectiveness for both instruments. However, the effectiveness varied with the type of passive innovation resistance present. More specifically, mental simulation was found to be the most effective instrument in the case of cognitive passive resistance, whereas benefit comparison was found to be most effective in the case of situational passive resistance. Thereby, the effect of both marketing instruments was stronger the more radical the new product was perceived. Hence, companies should assess the type of passive innovation resistance that is predominant in their target market, and align their choice of marketing instruments that accompany a new product launch to most effectively overcome passive innovation resistance. Employing such new product launch tactics should decrease initial market resistance and thus help companies in reducing innovation failure rates. [ABSTRACT FROM AUTHOR]

What are the energetic forces that induce established firms to enter new product markets? While most previous research has explained the economic profits expected from a new product market as firms' distinctive motivation for market entry, some recent studies also emphasize interfirm competition and benchmarking activities as another important factor that motivates firms' new market entry. To explain the established firms' diverse new product market entry behaviors, this study presents a two-dimensional scheme of entry motivation in terms of the degrees of target market profit focus and competitor focus. The first dimension captures the economic motivation of firms' new market entry that ranges from focusing on the direct expected profits from the target market to considering more strategic/indirect benefit incentives. The second dimension captures the degree of firms' external motivation for entry affected by competitors that ranges from independent entry decisions to fully competitor-oriented entry decisions. Using multiple-industry survey data, the current study empirically verifies that these two entry motivation dimensions explain a great portion of actual firms' new product market entry behaviors and that they are independent of each other. Subsequently, this study validates that firms' operational size and their environmental factors like perceived technological uncertainty and competitive intensity upon new market entry affect the degrees of the two dimensions of firms' new product market entry motivation. More specifically, large firms less emphasize target-market profits than small firms, and when perceived technological uncertainty is high, potential market entrants become less target market profit focused but more competitor focused. Under a highly competitive new market condition, firms focus on both target-market profits and competitors. Based on the analysis of new market entry motivation dimensions, the current study proposes a new typology of established firms' market entry behaviors. The suggested typology represents the four different types of new product market entrants and examines specific characteristics and entry strategies for each type of potential entrants. This entry-motivation framework should provide a deeper understanding of the backgrounds of entry behaviors and assist firms in developing appropriate entry strategies and in advantageously responding to rival firms' actions with regard to entry. [ABSTRACT FROM AUTHOR]

The overall question that this research seeks to answer is the following: Are there individual and/or organizational resources related to 'divergent thinking' that enhance or inhibit the firm's market visioning competence in the case of radical innovation? In order to answer this question, in this paper, the key focus is on the realm of potential divergent thinking-related resources that the firm may possess and access to aid in the creation and development of an effective market visioning competence. In particular, individual-level factors related to divergent thinking capabilities and, at the organizational level, encouragement of such capabilities, are investigated. Specifically, we propose that two organizational-level factors related to organizational encouragement of divergent thinking ('encouraging ideas' and 'encouraging diversity'), two individual-level divergent thinking attitudes factors ('openness' and 'ability to move from divergent thinking to convergent thinking efficiently and effectively'), one individual-level ideational behavior factor ('ability to generate new ideas'), and a further individual cognitive factor ('need for cognition') have direct impacts on market visioning competence. Scales are then developed and tested for measuring these potential antecedents, and they are included in a measurement model with market visioning competence to enable further research. [ABSTRACT FROM AUTHOR]

Users are the primary source of new techniques, i.e. systematic activities by which a complex task is accomplished. Even though user-generated techniques are a pervasive phenomenon which can be observed in many different contexts, existing research on user innovation has focused on product and service innovations. We focus on this important area of user innovation by studying four cases in the field of medical devices to analyse the processes by which users generate and diffuse new techniques as well as the interdependencies between user-generated techniques and subsequent changes to product use and product innovation. Our findings suggest that user innovation in techniques triggers product innovation by users and manufacturers. Therefore, users' contributions to total innovation output are much higher than previously considered. Additionally, the diffusion of techniques differs significantly from the diffusion of new products. It can only be achieved with the involvement of diffusion agents and their interpersonal interaction and joint performance of the technique with possible adopters. As the diffusion of a technique is often a prerequisite for the diffusion of any related product, companies are forced to re-think their marketing strategies. [ABSTRACT FROM AUTHOR]

In this paper, I provide a theory for brand-protection strategies to reduce counterfeiting under weak intellectual property rights. My theoretical framework has general implications for endogenous sunk cost investments as a means of deterring counterfeiters. My model incorporates two layers of asymmetric information that counterfeits can incur: counterfeiters fooling consumers and buyers of counterfeits fooling other consumers. Brands have a number of tools at their disposal to maintain a separating equilibrium in the face of counterfeits. One of the theoretical predictions of this study is that counterfeit entry induces incumbent brands to introduce new products. This helps to explain the innovation strategies that authentic firms employ in response to entry by counterfeiters in practice. Authentic prices rise if and only if the counterfeit quality is lower than a threshold level. In addition, the model demonstrates how authentic producers could invest in self-enforcement to increase counterfeiters' incentives to separate themselves from brands. Better channel management through company stores and other costly devices are forms of nonprice signals and complement a company's own enforcements against counterfeits. These predictions are validated using unique panel data collected from Chinese shoe companies covering the years 1993-2004. Data further reveal that companies with worse relationships with the government invest more in various self-enforcement strategies, which are effective in reducing counterfeit sales, and that the set of strategies are complements rather than substitutes for each other. [ABSTRACT FROM AUTHOR]

Really new products ( RNPs) enable consumers to do things they have never been able to do before. However, research has shown that consumers have difficulties understanding the benefits of such novel products, and therefore, adoption intentions remain low. Mental simulations and analogies have been identified as effective framing strategies to convey the benefits of RNPs. However, existing research has focused solely on the use of mental simulations and analogies conveyed using words, whereas these can also be conveyed using pictures. Although the general consumer research literature points to a superiority effect of pictures, because the underlying mechanisms that individuals use to understand RNPs differ entirely from those used for traditional products, there is a need to study the impact of pictures for RNPs. Moreover, prior work has not examined differences in RNP type. The present research argues that RNPs can be utilitarian, hedonic, or hybrid and that the optimal presentation format (words versus pictures) is contingent upon the type of RNP considered. Consequently, failure to acknowledge this distinction could lead to negative consequences. The present study aims to identify the impact of alternative presentation formats (i.e., words versus pictures) presented using different framing strategies (i.e., analogies versus mental simulations) on individual responses (i.e., product comprehension and attitude to the product) to three types of RNPs (i.e., utilitarian versus hedonic versus hybrid). Hypotheses are tested by means of an experimental study. The results of the study show that the effectiveness of alternative combinations of framing strategies and presentation formats in enhancing comprehension and attitude for RNPs depends on product type (utilitarian versus hedonic versus hybrid). The empirical findings presented not only extend prior work on consumer responses to mental simulations and analogies for RNPs, but also establish connections between this literature and an underdeveloped stream of research on hybrid products, as well as a broader stream of research on utilitarian versus hedonic product benefits. The findings suggest that practitioners may not have been using optimal marketing communications strategies to convey the benefits of RNPs. Strategies that may help enhance consumer responses to RNPs by taking into consideration product type (utilitarian versus hedonic versus hybrid) are put forward. [ABSTRACT FROM AUTHOR]

New technologies are hitting the marketplace every day. In trying to make sense of these new technologies, consumers perceive a series of risks and benefits of consumption and use those perceptions to form product judgments. One way for managers to mitigate organizational related risk is to understand how consumers perceive consumption-related risk. To illustrate this point, the case of genetically modified (GM) food is examined and a series of focus groups is conducted in which participants examined different product labels that either framed the technology as a benefit gained or as a risk avoided. The results indicate that consumers do indeed form very different product evaluations based on how the new technology is framed, but these evaluations vary based on the level of the consumers' preexisting knowledge. This study provides support for the contention that a better understanding of consumer risk perceptions is an important first step in developing marketing strategies for new technology-oriented products. [ABSTRACT FROM AUTHOR]

Five meta-analyses previously have been published on the topic of new product development involving the concept of new product development speed. Three of these studies have investigated antecedents to new product development success, of which just one was new product development speed. The other two studies used new product development speed as the dependent variable, and analyzed antecedents to achieving speed. This article extends previous empirical generalizations in this domain by using a meta-analytic methodology to understand the link between new product development speed and new product success at a more granular level. Specifically, it considers the relationship with different dimensions of success as measured overall or compositely, operationally (i.e., the process measures of decreasing development costs and proficiently managing market entry timing and the product measures of technical product performance and product competitive advantage), and relative to external success outcomes (i.e., customer based and financial success). While the results indicate that, in general, new product development speed is associated with improving success outcomes, those relationships may diminish or even disappear depending upon a number of methodological design decisions and research contexts. A subsequent meta-analysis of the antecedents of development speed provides a more holistic picture of development speed. These results are broadly consistent with those produced by another recent meta-analytic investigation of the issue. Together, these findings have important implications for academics pursuing further research in this domain, as well as for managers considering implementing a program to increase new product development speed. [ABSTRACT FROM AUTHOR]

A firm's market orientation is an important factor influencing its ability to successfully develop and introduce new products. To measure market orientation, Narver and Slater's MKTOR scale has been accepted in the literature as a valid and reliable scale. In fact, it can be considered state of the art. This study, though, challenges the validity of that scale in high-tech industries and transition economies. As part of a larger study, the scale was used to measure the market orientation of 10 Russian high-tech small- and medium-sized enterprises, next to other measures of market orientation. These were the respondent's perceptions of their market orientation; the firm's philosophy on selling goods/services or solving customer problems; and in-depth interview questions on goals, strategies, network ties, targeted market segments, and competitive advantage. It was found that the firms obtained high scores on the MKTOR scale but that these scores were accompanied by ideas and behaviors reflecting a low or even lacking market orientation. On a scale from 1 to 7, the firms average 6.2 on customer orientation, but at the same time, they are not aware that they do not have customer-focused strategies and do not fully understand the chain in which they operate. Further, the average on competitor orientation is 5.4. Some firms have competitor-oriented characteristics, but others are ignorant of their competition and believe in their technological superiority as a source of competitive advantage. Analyzing these anomalies, it is concluded that the scale requires a minimum level of marketing knowledge of respondents. Without such knowledge, the MKTOR scale is susceptible to the respondent's unconscious incapability, thereby producing invalid results. In the 10 Russian cases, the respondents did not have much experience or education in marketing, which explains why they were incapable of adequately answering the items of the MKTOR scale. The results of this study help to explain the ambivalent findings in the literature about the effect of market orientation on innovation and new product development in high-tech sectors and transition economies. The paper concludes with suggestions on how market orientation could be better measured in such contexts. It is suggested to replace the Likert-scale by a semantic differential scale, where statements reflecting product, production, and sales orientations are confronted with statements reflecting a market orientation. Given the importance of experience and education in marketing as positive antecedents, measures of these factors should be included in the scale as well. With these adaptations, measures of market orientation will be more factual, will require less knowledge of marketing terminology, will reduce bias caused by respondents' perceptions, and will prevent ambiguity in terminology. [ABSTRACT FROM AUTHOR]

Firms are increasingly recognizing the importance of understanding regional dynamics and their effects on competitiveness. One such area that is gaining increased importance due to intra-regional trade is the factors contributing to the successful rollouts of new products within a region. New product rollouts are complicated by nature but are further compounded by intricacies in the type of innovation (i.e., technological or design) being introduced into a region. Unfortunately, limited research has investigated this area. This study works to address this limitation by examining the per country performance effects of regional new product rollouts of technological and design innovations. The study examines the introduction of 14 technological innovations and 12 design innovations across 17 unique firms operating in eight European countries from 2000 to 2007. Specifically, this study attempts to show (1) an important role of the type of innovation on a firm's regional new product rollout strategy; (2) a relationship between national culture and the effectiveness of regional rollout strategies; and (3) an influence of economic openness on the type of innovation for regional new product rollout strategies. The results indicate that a longer regional new product rollout strategy is a more effective strategy for technological innovations, while a shorter regional new product rollout strategy is a more effective strategy for design innovations. The study also presents significant interaction effects in relation to the cultural dimensions of uncertainty avoidance and power distance as well as a significant effect of economic openness. Implications for practitioners and academics are presented. [ABSTRACT FROM AUTHOR]

Spurred by rapid development of computers and Internet technology, online shopping is gradually overtaking in-store shopping, because of advantages such as convenience, more choice of products or services etc. Online stores must devote a great deal of time and resources to locating and attracting new customers. Growing a customer base requires first understanding customers and then providing the products or services they need, thus encouraging customers to purchase more. This paper develops a system to analyse customers' purchasing behaviour and track shifts in their interests. Customers' purchasing behaviour is measured using proposed standard product loyalty status and standard brand loyalty status. Using these metrics, together with the preference map established for each customer, a marketing specialist can easily locate potential customers to target when a company launches a new product. The new-product-launch strategy proposed in this paper can be used to create a list of potential customers for a product being launched under a variety of conditions. A prototype system has been built to test the feasibility of the proposed new-product-launch strategy. The result shows almost 40% of potential customers respond to the recommendation positively. [ABSTRACT FROM AUTHOR]

Drawing on the learning and market orientation literature, this study examines how responsive and proactive market orientations interact with exploitative and exploratory learning to affect new product performance. Despite advancements in understanding the distinctions between the different types of learning and market orientations, little evidence exists regarding which types of market orientation work best with exploitative or exploratory learning to improve new product performance. Using a sample of 216 high-tech Canadian firms, the authors find that new product performance is elevated only when exploratory learning is bundled with proactive market orientation. New product performance suffered when exploratory learning was complemented with responsive market orientation and when exploitative learning was complemented with proactive market orientation. Implications for marketing theory and practice are discussed. [ABSTRACT FROM AUTHOR]

Will increasing employee participation in reward decisions increase new product performance by first increasing a firm's level of market orientation? Literature offers limited insight to the effects of listening to employees regarding reward system design and whether this may influence market orientation implementation and new product performance. This paper provides research to fill the gap by examining the relationship between participation-based reward systems, market orientation, and new product performance. Based on expectancy theory, a conceptual model was developed suggesting that participation-based rewards will increase market orientation by considering employees' desires regarding performance rewards. To test the model, a mixed method was used to collect data. First, in-depth interviews were conducted with managers from 11 different firms to verify the proposed model. Then a multi-industry sample of managers from 290 firms was surveyed to maximize generalizability of the results. Data were analyzed using structural equation modeling techniques to simultaneously fit the measurement and structural models. The findings show that market orientation significantly impacts objective new product performance and mediates the relationship between participation-based rewards and objective new product performance. Participation-based rewards positively affect market orientation but surprisingly affect new product performance negatively, while positively moderating the relationship between market orientation and new product performance. The results suggest that managers should include employee input in designing reward systems. However, managers should also be careful of how much input they allow employees in determining their rewards and goals as more input will improve market orientation or responding to information collected by, and disseminated throughout the firm, and that, in turn, will improve some types of new product performance. However, the direct effect of employee input can decrease new product performance suggesting that there may be a trade-off between various success measures of new products developed and introduced by the firm. [ABSTRACT FROM AUTHOR]

Innovation is an organization's spanning process that must continually change in response to, and in anticipation of, changing business environments. Research in the fields of marketing and management has examined individual strategic orientations ( SOs) (such as market orientation) and their relationship to innovation performance. Few studies, however, have compared the effectiveness of different SOs for innovation performance in a single study. It is also not clear from previous research whether the business environment influences the effectiveness of the SOs. The objective of this paper is therefore twofold: it aims to evaluate (1) whether a focus on the customer, the technology, the competitor, or the interfunctional coordination, will have the greatest impact on new product success, and (2) whether the effectiveness of a specific SO varies with the environment. Data were collected from more than 500 senior executives in a wide range of manufacturing and service firms in China. Using cluster analysis and an ordinary least squares ( OLS) regression model, which are commonly adopted to examine the effects of environments on the relationship between strategy and performance, we identified four subgroups of firms facing distinctively different market and competitive environments. As predicted, the results show that all four SOs have (albeit to a different degree) a significant and positive relationship with innovation performance. More importantly, the results point to the relative advantage in pursuing a specific SO by taking into account its effect under different environments and the effects of other SOs. However, the particularly strong effect of technology orientation compared to that of the other SOs on new product performance across all clusters is somewhat surprising. We offer some tentative explanations for this finding, though further research will be required to fully understand it. Overall, our findings indicate the need for managers to be responsive to environmental contexts and to allocate resources to pursue the effective (hence appropriate) strategic orientations for the specific context. [ABSTRACT FROM AUTHOR]

In recent years, many firms have started to actively license out technology, either exclusively or in addition to applying the technology in their own products. While some pioneering firms have achieved substantial benefits from outlicensing, many others fear weakening their competitive position in the markets for their products by selling 'corporate crown jewels.' This paper addresses the effects of an integrated technology exploitation strategy, which refers to aligning technology licensing and product development, on a firm's financial performance, i.e., return on sales in the subsequent year. Drawing on a contingency perspective, the study further examines the moderating effects of four external contingency factors related to the appropriability regime and the technology markets in the relationship between an integrated strategy and firm performance. While the product markets refer to the markets for physical products, the technology markets refer to markets for disembodied technological knowledge. Quantitative analyses of new survey and financial data from 122 industrial firms with a one-year lag are presented, and they show a positive effect of an integrated technology exploitation strategy on subsequent firm performance. This positive effect is stronger under conditions that are characterized by effective patent protection, high technological turbulence, high transaction frequency in the technology markets, and strong competition in the technology markets. The main finding of the paper is that, due to interdependencies with a firm's product development activities, it is not beneficial to manage licensing as a stand-alone activity. Instead, integrated strategies help firms to overcome managerial difficulties and to capture value from open innovation. The results have major implications for both management and research into technology exploitation, licensing, open innovation, and technology markets. [ABSTRACT FROM AUTHOR]

Developing products and business processes to serve subsistence marketplaces (or the roughly 4 billion poor around the world referred to as the bottom of the pyramid) is a significant challenge for businesses. Despite the importance of subsistence marketplaces, most product development educational curricula have been focused on relatively resource-rich and literate consumers and markets. We teach an innovative year-long product development course which includes an international immersion experience and which covers a broad spectrum of learning from understanding poverty, to consumer behavior, to product development and engineering design specifically for subsistence consumers. This unique course represents a pioneering effort to focus attention and create knowledge about product development, marketing, management, and engineering practices for subsistence marketplaces. Our two-semester course sequence for graduate-level students in a variety of business and engineering disciplines and industrial design combines in-class pedagogy with experiential learning and results in useful and marketable product concepts and prototypes. Working on projects with multinational companies or startups, students identify an opportunity of general need, conduct field market research to better understand subsistence consumer needs and contexts through an international immersion experience, develop a product concept, convert the concept to a workable prototype, and develop a manufacturing plan, marketing strategy, and overall business plan for the product. Overlaying the content found in a typical new product development lab course we develop a contextual understanding of subsistence marketplaces, setting the stage for new product development. A central aspect of the learning experience is travel to subsistence markets for actual immersion in the context and to conduct market research. Our course is at the confluence of two of the most important issues facing humanity, subsistence and sustainability. Lessons learned here can also be extended to other radically different contexts, such as future scenarios involving severe energy shortages or climate change consequences. Such educational initiatives provide challenging learning experiences in preparing students for the unique demands of the 21st century. [ABSTRACT FROM AUTHOR]

While the popular understanding of the influence of design is growing, academic research has largely been restricted to considering consumer-level responses to design elements. This paper reviews this past work and proposes a more strategic research agenda for the field, with the potential to explicate linkages between design elements and strategies and outcomes related to innovation and corporate performance. [ABSTRACT FROM AUTHOR]

Because firms today operate in increasingly turbulent and complex environments, they need to be more proactive and innovative. Networks are gaining in importance, especially for small and medium enterprises with limited resources as R&D cooperations or cooperations along the value chain seem to be the only way to succeed with technologically challenging and promising but also expensive and risky product innovations. One of the key problems of these networks, however, is the question of how to plan, organize and control the innovation processes that are distributed over several partners. Theoretically derived and empirically proven success factors could help as much here as in the traditional success/failure discussion of new product development within firms. This paper discusses the effects of such factors, which partly derive from the traditional success/failure discussion within firms (e.g. market potential, product advantage, technological synergy, proficiency of technological or marketing activities) but also factors derived from recent network research (e.g. trust or dependence on partners). Their effect on new product performance is discussed on the basis of a comprehensive survey with 271 participating networks. The results confirm the traditional success factors, especially the product advantage and proficiency factors. But they also show that network-related success factors (especially network cohesion and organization) are of similar major importance. [ABSTRACT FROM AUTHOR]

This study investigates the critical role that opinion leaders (or influentials) play in the adoption process of new products. Recent existing reseach evidence indicates a limited effect of opinion leaders on diffusion processes, yet these studies take into account merely the network position of opinion leaders without addressing their influential power. Empirical findings of our study show that opinion leaders, in addition to having a more central network position, possess more accurate knowledge about a product and tend to be less susceptible to norms and more innovative. Experiments that address these attributes, using an agent-based model, demonstrate that opinion leaders increase the speed of the information stream and the adoption process itself. Furthermore, they increase the maximum adoption percentage. These results indicate that targeting opinion leaders remains a valuable marketing strategy. [ABSTRACT FROM AUTHOR]

The traditional new product development (NPD) model, in which companies are exclusively responsible for coming up with new product ideas and for deciding which products should ultimately be marketed, is increasingly being challenged by innovation management academics and practitioners alike. In particular, many have advocated the idea of democratizing innovation by empowering customers to take a much more active stake in corporate NPD. This has become feasible because the Internet now allows companies to build strong online communities through which they can listen to and integrate thousands of customers from all over the world. Extant research has provided strong arguments that indicate that customer empowerment in NPD enables firms to develop better products and at the same time to reduce costs and risks if customers in a given domain are willing and able to deliver valuable input. Customer empowerment, however, not only affects the firm's internal NPD processes as reflected in the products that are ultimately marketed. Instead, it might also affect the way companies are perceived in the marketplace (by customers who observe that companies foster customer empowerment in NPD). This paper provides the first empirical study to explore how customers from the 'periphery' (i.e., the mass that does not participate) perceive customer empowerment strategies. Customer empowerment in NPD is conceptualized along two basic dimensions: (1) customer empowerment to create (ideas for) new product designs; and (2) customer empowerment to select the product designs to be produced. Therefore, customers may be empowered to submit (ideas for) new products (empowerment to create) or (2) to 'vote' on which products should ultimately be marketed (empowerment to select). In the course of two experimental studies using three different product categories (T-shirts, furniture, and bicycles) both customer empowerment dimensions (as well as its interaction) are found to lead to (1) increased levels of perceived customer orientation, (2) more favorable corporate attitudes, (3) and stronger behavioral intentions. These findings will be very useful to researchers and managers interested in understanding the enduring consequences of customer empowerment in NPD. Most importantly, the results suggest that empowerment strategies might be used to improve a firm's corporate associations as perceived by the broad mass of (potential) customers. In particular, marketers might foster customer empowerment as an effective means of enhancing perceived customer orientation. Customers will in turn provide rewards, as they will form more favorable corporate attitudes and will be more likely to choose the products of empowering as opposed to nonempowering companies, ceteris paribus. Customer empowerment thus constitutes a promising positioning strategy that managers can pursue to create a competitive advantage in the marketplace. [ABSTRACT FROM AUTHOR]

The increased importance of knowledge creation and use to firms' global competitiveness has spawned considerable experimentation with organizational designs for product development and commercialization over the last three decades. This paper discusses innovation-related organizational design developments during this period, showing how firms have moved from stand-alone organizations to multifirm network organizations to community-based organizational designs. The collaborative community of firms model, the most recent organizational design in this evolutionary process, is described in detail. Blade.org, a purposefully designed collaborative community of firms dedicated to the continuous development and commercialization of blade servers, a computer technology with large but unforeseeable market potential, is used as an illustrative case. Blade.org's organizational design combines a community 'commons' for the collective development and sharing of knowledge among member firms with explicit institutional mechanisms for the support of direct intermember collaboration. These design elements are used to overcome the challenges associated with (1) concurrent technological and market experimentation and (2) the dynamic coordination of a complex emergent system of hardware, software, and services provided by otherwise independent firms. To date, Blade.org has developed more than 60 new products, providing strong evidence of the innovation prowess of the collaborative community of firms organizational model. Based on an analysis of the evolution of organizational designs and the case of Blade.org, implications for innovation management theory and practice are derived. [ABSTRACT FROM AUTHOR]

Problem solving, a process of seeking, defining, evaluating, and implementing the solutions, is considered a converter that can translate organizational inputs into valuable product and service outputs. A key challenge for the product innovation community is to answer questions about how knowledge competence and problem-solving competence develop and sustain competitive advantage. The objective of this study is to theoretically examine and empirically test an existing assumption that problem-solving competence is an important variable connecting market knowledge competence with new product performance. New product projects from 396 firms in the high-technology zones in China were used to test the study's theoretical model. The results first indicate that problem-solving speed and creativity matter in new product innovation performance by playing mediator roles between market knowledge competence and positional advantage, which in turn sustains superior performance. This new insight suggest that mere generation of market knowledge and having a marketing-research and development (R&D) interface will not affect new product performance unless project members have the ability to use the information and to interact to identify and solve complex problems speedily and creatively. Second, these results suggest that different market knowledge competences (customers, competitors, and interactions between marketing and R&D) have distinct impacts on problem-solving speed and creativity (positive, negative, or none), which underscore the need to embrace a more fine-grained notion of market knowledge competence. The results also reveal that the relative importance of some of these relationships depends on the perceived level of turbulence in the environment. First, competitor knowledge competence decreases problem-solving speed when perceived environmental turbulence is low but enhances problem-solving speed when perceived turbulence is high. Second, competitor knowledge competence has a positive relationship with new product performance when the environmental turbulence is high but no relationship when the environmental turbulence is low. Third, the positive relationship between problem-solving speed and product advantage is stronger when the perceived environmental turbulence is high than when it is low, which implies that problem solving is more important for creating product advantage when environmental turbulence is high and change is fast and unpredictable. Fourth, the negative relationship between problem-solving speed and new product performance is stronger when the perceived environmental turbulence is high than when it is low, which means that problem-solving speed is more harmful for new product performance when change is fast and unpredictable. And fifth, the positive relationship between product quality and new product performance is stronger when perceived environmental turbulence is low than when it is high, which implies that product quality may more likely lead to new product performance when the environment is stable and changes are easy to predict, analyze, and comprehend. [ABSTRACT FROM AUTHOR]

Modularity in product design has been hailed as a way to speed new product development (NPD), to reduce NPD cost, and to enhance customization possibilities for consumers. Modularity in process design may speed new product manufacturing setup times, reduce costs, and enhance the profitability of the lower volumes that customization often entails. However, empirical evidence is scarce that either product or process modularity-individually, jointly, or sequentially-actually produce these or other proposed benefits (e.g., performance growth). This study builds on general modular systems theory (GMST) by examining the theoretical relationship between product and process modularity and the effects of each on firm growth performance. Using structural equation modeling, partial versus complete mediation by manufacturing agility is also scrutinized. In one pair of models, product modularity and process modularity are separate direct antecedents to manufacturing agility, which is modeled to affect firm growth performance; in a second pair of models, product and process modularity are related antecedents to manufacturing agility, with product modularity preceding process modularity. Results from the best-fitting model show that product modularity directly and positively affects process modularity, manufacturing agility, and firm growth performance. Process modularity was unrelated to manufacturing agility, and neither process modularity nor manufacturing agility predicted growth performance. Consistent with GMST, the study provides empirical evidence of the power of one element of a modular system to orchestrate a fit between a firm's product and manufacturing strategies and to directly drive system performance. Thus, modularity in product design is revealed as the key to understanding GMST effects concerning how changes in one system generate changes in other systems. [ABSTRACT FROM AUTHOR]

Product and process innovations have been studied as distinct phenomena whose introduction is influenced differently by firm and market conditions. This study reviews and quantitatively integrates the findings of the empirical studies of the associations of firm size and market competition with product and process innovations. The accumulation of research results and subgroup analyses of construct measurement do not provide evidence of substantial differences in the strength of the influence of size or competition on the two innovation types. Implications of the results for future research on innovation types as distinct or integrative phenomena are discussed. [ABSTRACT FROM AUTHOR]

This study explores the relationship between organizational agglomeration and new product introduction. It proposes that product-complementary agglomeration increases the likelihood of new product introduction, but that the effect on new product introduction is non-linear. In addition, the influence of agglomeration on new product introduction is contingent on organizational form (i.e. multi-unit form or independent form). Using longitudinal data for the hospital industry in Taiwan from 1997 to 2002, we found that the relationship between product-complementary agglomeration and new product introduction is an upward trending hooked curve. As the degree of complementary agglomeration increases, the likelihood of introducing new products also increases, but the rate of increase diminishes with the degree of complementary agglomeration. In addition, we also found that the positive effect of product-complementary agglomeration on new product introduction is stronger for independent firms than for multi-unit firms. [ABSTRACT FROM AUTHOR]

With growing levels of competition across industries, technological competence is increasingly viewed as crucial for businesses to maintain their long-term competitive advantage. Although there are many theoretical arguments about how firms' competences can yield competitive advantage and performance improvement, we have a limited understanding of where the capabilities originate in the context of NPD or what kind of product portfolios, internal climate, and strategic alignment are required to build them. Moreover, empirical evidence for technological competence development is limited and comes primarily from case studies, anecdotal evidence, and management impressions. Accordingly, this research addresses these gaps by presenting and testing a conceptual model of technological competence development in NPD. This study makes advances in applying a dynamic capability approach to technological competence development in NPD, and investigates the impact of innovative climate, technological alignment, and project portfolio management on technological competence development as well as NPD speed. Moreover, the factors that might influence NPD program performance are also investigated. The analysis, based on data collected from 111 firms, shows that a firm's innovative climate, technological alignment, and portfolio management are positively associated with technological competence development. While technological alignment was found to be negatively related to NPD speed, portfolio management, and technological competence development were found to have positive effects on speed. However, innovative climate had no significant impact on speed. Moreover, technological competence development and portfolio management were found to be positively related to NPD program performance. Finally, no support was found for the relationship between speed and NPD program performance. [ABSTRACT FROM AUTHOR]

It is a widely adopted practice for firms to announce new products well in advance of actual market availability, especially in the computer industry. In this article, a firm makes pre-announcements on its product, which are “cheap talk.” We develop a reputation model of “vaporware” where the product pre-announcement can partially convey information about the product's quality. We discuss its implications for social welfare. [ABSTRACT FROM AUTHOR]

The Journal of Product Innovation Management (JPIM) was launched in 1984 and over its first two decades of existence evolved into the leading journal in the field of innovation and the management of technology. During these 20 years JPIM contributed to the field by publishing 488 academic papers. This paper is a follow-up study to an earlier study that looked at how JPIM evolved in terms of knowledge stock and knowledge flows during the first two decades (published in JPIM, March 2007). That paper looked at what was published during the first 20 years, which sources were cited, and which journals cited JPIM papers. This study takes a closer look at the impact of JPIM on the field of innovation and the management of technology by identifying the most classic papers published in JPIM during its first two decades of existence. This study used multiple research methods to identify 64 candidate potential classics from the 488 papers published in the first 20 years of JPIM's existence, to analyze how they differ from the other 424 papers published in the journal, and to investigate authors' motivations for writing these papers. Finally, using survey responses from the Product Development and Management Association (PDMA) membership and other academics in innovation and new product development, the research then determines which 5 of the 64 candidate papers are considered to be the “most classic” papers published and the factors driving that determination. The findings show that classic papers are those presenting a “pioneering idea” in the field that creates buzz in both the academic and practitioner worlds. High numbers of citations are indeed the outcome of these endeavors, but being a classic requires more than having high numbers of citations. Authors of the true classics generally have worked hard to disseminate their research, usually to both academics and practitioners, perhaps also contributing to the network buzz created by their findings. While one of the five most classic papers represented the first investigation into a particular stream of research, the other four were culminations of a significant body of research, providing a distinct summary of known information on a topic at the time they were published and a clear road forward for future research on the topic. These bodies of knowledge have yet to be superseded by other culminating papers. [ABSTRACT FROM AUTHOR]

While the need for research on the market-learning efforts of a firm in relation to its new product development is continuously emphasized, the empirical results on this issue reported so far have been mixed. The current study contends that the inconclusive nature of the empirical evidence is mostly due to the existence of different dimensions of organizational market learning—exploratory and exploitative—and to possible different routes by which these learning dimensions are linked to new product performance. More specifically, this study argues that exploratory market learning contributes to the differentiation of the new product because it involves the firm's learning about uncertain and new opportunities through the acquisition of knowledge distant from existing organizational skills and experiences. By contrast, this study posits that exploitative market learning enhances cost efficiency in developing new products as it aims to best use the currently available market information that is closely related to existing organizational experience. This study provides empirical support for this two-dimensional scheme of organizational market learning and its consequent effects on two components of new product advantage: new product differentiation and cost efficiency. Further, given that the effectiveness of firms' strategic efforts is contingent upon the nature of the market environment, the current study examines the moderating effects of environmental dynamism and market competitiveness for this market learning—new product advantage relationship. This study is based on survey data from 157 manufacturing firms in China that encompass various industries. The empirical findings support the two-dimensional market learning efforts that increase new product differentiation and cost efficiency, respectively. The study confirms that exploratory market learning becomes more effective under a turbulent market environment and that exploitative market learning is more contributive when competitive intensity is high. It also suggests that because of their differential direct and moderating effects on new product advantage either exploratory or exploitative market learning may not be used exclusively, but the two should be implemented in parallel. Such learning implementations will help to secure both the feature and cost-based new product advantage components and will consequently lead to the new product success. The current study attempts to contribute to greater clarity and better understanding of how market learning influences new product success as it theoretically identifies and empirically validates the two forms of new product advantage as the conceptual mediator between market learning and new product performance. [ABSTRACT FROM AUTHOR]

Having the “right” market vision (MV) in new product scenarios involving high degrees of uncertainty has been shown to help firms achieve a significant competitive advantage, which can ultimately lead to superior financial results. Despite today's increased rate of radical innovation, and hence the importance of effective vision, relatively little research has been undertaken to improve our understanding of this phenomenon. The exploratory and empirical investigation undertaken herewith responds to this research gap by focusing on MV and its precursor, market visioning competence (MVC), for radically new, high-tech products. MV is a clear and specific mental model/image that organizational members have of a desired and important product-market for a new advanced technology, and MVC is a set of individual and organizational capabilities that enable the linking of advanced technologies to a future market opportunity. Based on samples of high-tech firms involved in early technology developments, the measurement study indicates that five factors comprise MV (i.e., clarity, magnetism, specificity, form, and scope) and that four factors underlie MVC (i.e., networking, idea driving, proactive market orientation, and market learning tools). Structural equation modeling is used to demonstrate that MVC significantly and positively impacts MV and that each of these constructs significantly and positively influences certain aspects of early performance (EP) in new product development. This is the first empirical study to develop a comprehensive set of scales to measure these constructs and then to combine them in a model by which to examine their interrelationships. [ABSTRACT FROM AUTHOR]

In recent years there has been a growing interest in the link between new product launch activities and market success. So far, most empirical research has focused on launch activities that target customer adoption barriers. However, with such a focus the influence of other stakeholders on innovation diffusion is not taken into account. A review of diffusion research and stakeholder theory serves as a basis for discussing the influence of different stakeholder groups such as customers, dealers, suppliers, and competitors on innovation diffusion. Essentially, it is expected that addressing multiple diffusion barriers during new product launch will have a positive impact on market success. The new concept for launch activities addressing multiple diffusion barriers is tested with data on new product launches in industrial markets using a multiple-informant approach. The results lend support to the notion that a successful launch requires activities addressing diffusion barriers related to different stakeholder groups. Specifically, barriers related to customers, suppliers, and stakeholders of the further firm environment need to be lowered during market launch. For the group of competitors, a balanced launch approach including measures to both lowering and erecting entry and diffusion barriers will increase the market success of new products. The subsequent investigation of the influence of technological turbulence, market turbulence, and product complexity on the performance relationships shows that under high uncertainty managing multiple-diffusion barriers is of higher relevance than in more unambiguous, clear-cut contexts. Thus, the results demonstrate that a careful management of diffusion barriers related to multiple stakeholders is a relevant task when launching a new product. The paper concludes with implications for management practice and avenues for future academic research. [ABSTRACT FROM AUTHOR]

It is critically important to understand the relationship between new product launch strategies and their interaction with the competitive environment, which results in the successful introduction of new products. Deciding when to launch new products is among the most significant issues facing managers when formulating new products strategy, especially for products with short product life cycles. However, little extant research has focused on the interaction of product launch timing and the competitive market environment. This study explores the effects of four types of competitive threats on the market performance of short product life-cycle products. Threats from new products and incumbents are possible. Also, products in the same category and those in related product categories exert competitive pressures. In this paper, a framework of competitive threats is developed, and research questions are constructed and empirically tested using the motion pictures industry as the focus of this research. A set of simultaneous equations was estimated using a sample of 2,948 movies introduced in the U.S. market between 1997 and 2004. The results show that all competition types have negative direct, indirect (as mediated by distribution intensity), and total effects on the performance of a new product. For a focal product, incumbent products exert a greater negative impact on performance than new entrants. Surprisingly, products in different, but related, categories are more harmful to the performance of products than products in the same category. The results have important implications for launch timing and new product performance. [ABSTRACT FROM AUTHOR]

In the last decade, there has been an increasing interest in the link between new product launch strategy and market performance. So far, new product launch research has focused on this performance relationship without giving much attention to background factors that can facilitate or inhibit successful launch strategies. However, investigating such antecedents that set the framework in which different strategic launch decisions enable or prevent the market performance of new products is useful for enhancing the current state of knowledge. Drawing on the concept of a firm's orientation, the present study discusses the influence of the corporate mind-set on new product launch strategy and market performance. It is hypothesized that the capability to successfully launch new products is based on the interplay between a firm's mind-set (i.e., an analytical, risk-taking, and aggressive posture) and its strategic launch decisions on setting launch objectives, selecting target markets, and positioning the new product. A research model with mediating effects is proposed, where the corporate mind-set determines the launch strategy decisions, which in turn impact market performance. The model is tested with data on 113 industrial new products launched in business-to-business markets in Germany using a multiple informant approach. The results support the mediated model as the dimensions of the corporate mind-set have a significant impact on most strategic launch decisions, which in turn significantly contribute to market performance. It is found that while an analytical posture relates to all three strategic launch decisions, risk taking and an aggressive posture have a significant impact on two, respectively one, launch strategy elements. These findings confirm the importance of investigating antecedents for a successful new product launch, as the corporate mind-set serves as a background resource that sets the framework for successful new product launch decisions. In the final section implications for research and managerial practice as well as limitations of this research are provided. [ABSTRACT FROM AUTHOR]