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The logic of value innovation has received increased attention in the strategic marketing and innovation literature. Studies investigating how value innovation, as a firm’s strategic mindset, contributes to creating new market space through more proximal market-driven factors such as strategic decisions and customer value are still lacking, nevertheless. This study aim to investigate how the logic of value innovation influences creating new market space through quantum strategy and customer value creation.

Survey data from a sample of 204 manufacturing and service firms was used to test the conceptual model and research hypotheses. The data were analyzed using structural equation modeling.

The findings reveal the direct and indirect effect of value innovation logic on the new market space through the mediation of quantum strategy and customer value creation. Besides, this study shows that quantum strategy does not directly contribute to customer value creation. A reason is that the quantum strategy as a both/and strategy is the more dominating factor in creating new market space.

There is still a lack of a systematic understanding of how value innovation, as a firm’s strategic mindset, contribute to creating new market space through a firm’s strategic choices and superior customer value creation, as more proximal market-driven factors. This study empirically attempted to address this research problem. This study contributes to the strategic marketing literature by providing a model for the interwoven relationships between value innovation, quantum strategy, customer value and new market space.

Digital and information technologies (IT) are becoming silently pervasive in old-fashioned real estate markets. This paper focuses on three important avenues for the diffusion of IT in commercial real estate: online brokerage and sales, the commoditization of space and Fintech in mortgage and equity funding. We describe the main new markets and products created by this IT revolution. The focus is on the pioneering US market, with some attention devoted to the specific firms and institutions taking these innovations into the mainstream. We also carefully analyze the economic underpinnings from which the new technologies can expect to generate cash flows, thus becoming viable—or not. Finally, we discuss their likely impact on established players in the commercial real estate arena.

In this paper, the author chooses to focus on three separate arenas where the IT revolution—sometimes referred to as Proptech, as applied to real estate—is having discernible impacts: sales and brokerage, space commoditization and online finance platforms. The author invites the reader to think seriously about the economic fundamentals that may—or may not—sustain new business models in Proptech. Real estate economists and investors alike need to be critical of new business models, especially when they are being aggressively marketed by their promoters. Trying to avoid any hype, the author provides thoughts about the likely impact of the innovations on their markets, guided by economic and finance theory, and previous experience.

The author evaluates the evolution of commercial real estate brokerage. While innovations will, no doubt, have an impact on the ways in which we buy and lease commercial properties, the lessons from the housing market should make us skeptical about the possibility of the new technologies dramatically facilitating disintermediation in this market. In fact, new oligopolies seem to be emerging with regard to market data provision.

Proptech will change some aspects of the real estate industry, but not others!

As change pervades the property industry, only a relatively few research pieces are illustrating or—more importantly—providing insights about the likely economic and financial impacts of IT penetration. Similarly, only a few papers have so far addressed the economic viability of the alternative business models of tech startups targeting real estate markets and transactions.

The emergence of new social media is shifting the market place for business towards virtual market space. In the light of the emerging digital space for new forms of marketing, the traditional servicescape concept is critically examined. This paper aims to show why servicescape concepts and attitudes need to be adapted for digital media.

First, the authors explain how the traditional servicescape concept adds meaning to a service provider’s value-proposition by modifying customer expectations and customer experience. Second, recognising that the environment for service is no longer bound to a physical place, the authors discuss the implications of the epistemic shift involved.

The authors’ examination shows that digital service space challenges traditional concepts about what constitutes a customer experience and derived value. The authors conceptually “zoom out” into a virtual service eco-system and show with exemplar examples why the servicescape in digital space is more socially embedded and necessarily more fluid in its time-space design. In the more advanced sites, interactions between various artificial bodies (avatars) are co-created by controlling off-line participant-actors; yet, these participant-actors remain strangers to each other at an off-line level. This is entirely a new and radical development of old times.

The research findings are based on scholarly research of the relevant literature, from practitioner reports, and evidence emerging from the examination of many digital web-sites. It has not been the authors’ intention to objectively represent current servicescape functionalities but more to indicate the major directions of change with exemplar examples. The future cannot be predicted, but their interpretive conclusions suggest major challenges in service marketing and management logic ahead. New forms of digital servicescape are still being created as technology and service imagination enables, so further research interest in virtual atmospherics can be expected.

Social media platforms are enabling organisations to learn more about their customers and also to engage them more. In these changing times, bricks and mortar stores would be well advised to review their servicescape presence to allow and encourage engagement with the more involved consumers. And, by integrating their digital space into their physical place, bricks and mortar stores might take on more relationship oriented process-like characteristics, both in the digital space and in their physical places, with developments on one platform leading to possible service innovations on the other.

The digital era is changing consumer behaviour. Service managers need to take into account that many customers are already equally as engaged with digital-space social networks as they once were with bricks and mortar stores. The more time consumers as participant-actors spend in social networks, the decision on what and where to buy is decided by interactions with friends and other influencers.

New forms of digital servicescape are being created as technology and service imagination enables. Further scholarly research interest in virtual atmospherics can be expected, impacting on the authors’ sense of place, and self-identity.

The purpose of this paper is to discover an uncontested market space in the European fruit and vegetables industry (EFVI), and thereby assess the ex‐ante applicability of the Blue Ocean Strategy of Kim and Mauborgne.

The search for an untapped market space made it necessary to first configure the logic of the Blue Ocean Strategy, which the authors coined the BOS‐framework. Next, the application to the EFVI required a two‐stage research strategy, namely desk research with six case studies, and a large survey.

The findings confirm that the Blue Ocean Strategy‐framework enables one to identify ex ante an untapped market space, characterized by the combination of sweeties' attributes with fresh fruit. The revolutionary untapped market space which the authors arrived at is “Youngfruit”, targeted at the new buyer group children and teenagers.

The research provides important insights in future key success factors to set oneself apart from competitors and change the rules of the game in the very competitive EFVI. Furthermore, this paper is (one of) the first to assess empirically the qualities and limitations of the Blue Ocean Strategy.

Over the last several decades, product development efforts have seen unacceptably high new product failure rates. One important factor is the presence of competitors who can interfere with marketing strategy and force changes that sap resources and reduce success. As industries try to improve their success, line extensions, i.e. developing products similar but different to successful products, have become more common. Simultaneously, industries have reacted by refining the new product development (NPD) process to make it more reliable and accurate. The refined development techniques are so helpful in refining product benefits with which firms are familiar that they reinforce the pressure to extend the line. The result is overcrowded markets where destructive competition destroys profitability. A “blue ocean” strategy promises to change the destructive cycle of market crowding. Originally the framework focused on overall market strategy. However, it has a direct application to NPD. Revising the NPD process to incorporate a blue ocean viewpoint before the idea generation stage may reduce the failure rate and create breakthrough products that are not easily emulated. This paper aims to address this issue.

The paper reviews the NPD literature as well as work implementing a blue ocean strategy. It delineates the tools developed for applying blue ocean concepts to strategy. The paper then applies a blue ocean approach to the NPD process with the objective of developing new products and services that are unhindered by competitive offerings. Implementing a blue ocean strategy involves four main actions and may be focused on six targets. The paper integrates the elements into a strategic opportunity product development matrix which may help practitioners. Moreover, it identifies at which stage of the new product development process blue ocean concepts should be introduced.

The paper reveals that there are no unvarnished panaceas in product development. Applying a blue ocean strategy to avoid competition early in the product life cycle promises to reduce dangerous competition to allow the product to succeed. However, the gains will probably not extend indefinitely. It requires constant improvement and application of the concepts to gain a measure of sustainability. If firms are successful early, they may be able to defend gains in some areas to retain profitability, while seeking new blue oceans.

Blue ocean applied to marketing strategy has seen large gains in success. Integrating efforts to find uncluttered market space holds the promise of increased success. It will also refine the NPD process.

Blue ocean strategy has not been applied to the new product development process in the literature. The paper integrates the concepts of the strategy with the elements of product development. The result is a new approach toward success products and product introductions.

Variation, replication and selection processes are acknowledged as key constructs in studies on how industries evolve, but no theoretical and empirical contributions have applied these key constructs to analyzing industries in specific stages of their history. This paper aims to fill this gap, taking for reference the firm and its strategic action in particular.

After delineating and discussing the three processes of interest – variation, replication and selection – this paper analyzes three very different evolutionary contexts: “red” industries, that reached maturity maintaining a polypolistic structure, and that continue to evolve in this phase; the oligopolistic transformation undergone by certain industries; and the emergence of new market spaces around new products developed by firms.

Variations are mainly reactions to the competitive environment in the evolution of red industries or environment-modifying in the case of industries evolving toward an oligopoly, and in the creation of new market spaces. Horizontal replication through employee mobility prevails in red industries, while in the other two contexts firms driving the evolution raise barriers to replication, inhibiting both horizontal and vertical replication. While selection does not come about in a new market space as long as the barriers erected by the first comer remain in place, it occurs in the form of subset selection in the other two settings.

This paper takes an entirely novel approach and proposes a pluralist framing of how industries evolve, interpreting the different evolutionary situations on the strength of the key variables of variation, replication and selection.

This study aims to explore the rise of virtual specialty care startups and understand how the ventures leverage digital services to create a new market space. Given the high level of competition in an established industry like health care, the authors investigate the business models and competitive strategies of leading virtual specialty care startups with unicorn status (i.e. emerging, current and exited unicorns).

The authors performed an analysis of Crunchbase data to examine whether rising virtual care ventures target specialty care. They focused on companies from the USA, Europe and Asia-Pacific. The identified virtual specialty care ventures were investigated in-depth via a multiple case study. By reviewing corporate websites, Crunchbase data and media coverage, the authors analyzed the ventures’ business models and competitive strategies.

This study demonstrates that even in established and highly competitive markets such as health care, managers and entrepreneurs can still leverage digital services to unlock new market spaces. The data analysis reveals that virtual care startups target the field of specialty care. They create a new market space by focusing on fast access to services, personalization, measurable outcomes and affordability. The majority of investigated companies pursues a platform-based business model approach.

In the context of an established industry like health care, this study gives insights into a new generation of virtual specialty care ventures. By investigating the ventures’ business models and competitive strategies, the authors advance a young field of research.

Through an intervention from a geographical perspective on organizational space, this article aims to offer a new horizon in understanding international business strategy.

Starts with two interrelated questions: does space exist in organizations and how does an organization manipulate and produce this organizational space in order to gain competitive advantage? By tackling these questions in the context of international business activities, this paper engages existing (international) management theories.

This article critically reviews the narrow focus of most international business theories on physical location and distance as a significant determinant of foreign direct investment and diverse activities of transnational corporations (TNCs). Quantitative empirical studies in this genre tend to emphasize physical space as a mere “container” of different locations of TNC activities and to measure the distance between these locations as an independent variable in statistical models. Drawing upon recent theoretical developments in economic geography, the paper develops a relational perspective on business organizations. In such an organization space, there are no fixed locations manifesting themselves in physically measurable forms. Instead, locations and distances in an organizational space are relational and thus discursively constructed through actor‐specific strategies and practice. The paper argues that one key strategic goal of business organizations is to continuously expand its organizational space (viz. physical space) and to economize on this spatial expansion.

Reveals the need for a critical reexamination of existing management and organization theories to take account of how space and boundaries may influence the strategy, structure, and performance of business organizations.

Examines the properties of organizational space and applies the proposed concept to the case of TNCs.

The space industry has experienced rapid development over the last few years. Activities such as building things in space, learning about our Earth and exploring outer space are satisfying people's fantasies and achieving humanity's ambitions. Such activities have also generated many issues that belong to several information systems (IS) research domains. In this article, the authors discuss the challenges and opportunities associated with the space economy.

The authors discuss why the emerging space economy opens a new frontier of e-commerce and data analytics. Linking three important IS research areas (i.e. digital commerce, data analytics and information security) to the space economy, this study motivates scholars to pay close attention to this promising new frontier for IS research.

The authors identify new research opportunities within several IS research contexts (digital commerce, data analytics and information security). The authors highlight the potential for opening a robust, interdisciplinary field in the IS domain that could provide valuable insights for practitioners and academics.

Because of the unique characteristics of the space economy, this article presents some promising avenues, research opportunities and implications for several IS fields (digital commerce, data analytics, decision science, information sharing and information security and new business models). Indeed, many opportunities are interdisciplinary in scope, with overlaps occurring between IS and other disciplines.

This paper reports the results of more than a decade‐long research journey on how firms can go beyond competing to creating uncontested market space, or “blue oceans,” that makes the competition irrelevant.

Studies over 150 blue‐ocean creations in over 30 industries spanning more than 100 years from 1880 to 2000. Analyzes not only winning business players that created blue oceans but also their less successful competitors. Searches for convergence among the strategic moves that created blue oceans and divergence between these moves and those of less successful players caught in the red ocean of bloody competition.

Finds clear strategic patterns that united the strategic moves that created blue oceans and separated these from the strategic moves that left companies battling for incremental market share in red oceans of overcrowded markets.

This paper addresses the following key questions: How can companies create blue oceans in an opportunity‐maximizing, risk‐minimizing way? What makes the creation of blue oceans increasingly imperative? Why has the field of strategy to date paid scant attention to how to reconstruct market boundaries to open up blue oceans of uncontested market space?

This paper makes strides in filling a central void in the field of strategy. For the past 25 years the field of strategy has focused principally on how to build competitive advantages to beat the competition within established market boundaries. While important, with supply exceeding demand in more and more industries this often leads to a red ocean of bloody competition. Instead of battling rivals, companies need to go beyond this. They need to create blue oceans of uncontested market space to prosper in the future. This article gives an insight into how firms can achieve this.