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Article
Publication date: 1 December 1995

Mike McGrath and Dean Gilmore

Summarizes some of the findings of a two‐year research projectconcerned with how technology‐based companies can master marketchallenges and so improve their product strategy

3120

Abstract

Summarizes some of the findings of a two‐year research project concerned with how technology‐based companies can master market challenges and so improve their product strategy. Identifies best practices and some of the prerequisites of successful strategy development which have already been implemented with clients of the authors′ organization, Pittiglio, Rabin, Todd & McGrath.

Details

World Class Design to Manufacture, vol. 2 no. 6
Type: Research Article
ISSN: 1352-3074

Keywords

Article
Publication date: 1 December 2005

Susan E. Rau

Building great products can be a reality for any company that takes the time and effort to create and execute the linkages between: winning strategy; the role of products and…

1756

Abstract

Building great products can be a reality for any company that takes the time and effort to create and execute the linkages between: winning strategy; the role of products and services; the product building blocks; and, linkages to customer needs. In fact, our research and work with clients suggests that a lack of alignment of these factors is the number one cause for the poor performance of many new products. This article defines for the reader the four winning strategy choices a company has – Product Leader, Distribution Giant, Innovation Superstar and Customer Lover and how each of these models puts a different emphasis on products and services. Once a company has selected a winning strategy, executing that strategy successfully requires adherence to the business model, including aligning product and services, customer imperatives and financial realities to that winning strategy model. Losing focus and drifting away from the chosen strategy or interspersing, for example, the product priorities from one winning strategy with the customer imperatives from another is a recipe for lackluster earnings and poor stock performance. Readers will learn how to outsmart the competition and build products that really win in the marketplace.

Details

Handbook of Business Strategy, vol. 6 no. 1
Type: Research Article
ISSN: 1077-5730

Keywords

Article
Publication date: 20 December 2022

Hyo Eun Cho, Jong-Ho Lee and Insik Jeong

The purpose of this study is to investigate an understudied topic—new product strategy in international markets. Specifically, this study aims to address the crucial role played…

Abstract

Purpose

The purpose of this study is to investigate an understudied topic—new product strategy in international markets. Specifically, this study aims to address the crucial role played by organizational characteristics and market characteristics in determining a firm's decision of adopting either a waterfall or a sprinkler product strategy for international markets.

Design/methodology/approach

The empirical analysis was conducted using survey data collected from a sample of 171 Korean small and medium enterprises (SMEs). This study uses logistic regression analysis to test the relationships among organizational characteristics, market characteristics and a firm's international product strategy.

Findings

The empirical results suggest that firm characteristics, such as higher degree of internationalization, lead the firms to choose the sprinkler strategy. Moreover, this research finds that a firm's choice between the waterfall and the sprinkler strategy varies depending on market characteristics such as competitive intensity and market turbulence. The findings indicate that the sprinkler strategy is more optimal for use when firms operate under a high level of competitive intensity, whereas a waterfall strategy is more suitable for firms that encounter a high level of market turbulence in targeted foreign markets.

Originality/value

This research contributes to the international marketing literature by exploring the impact of organizational characteristics and market characteristics on a firm's new product strategy in international markets.

Details

International Marketing Review, vol. 40 no. 2
Type: Research Article
ISSN: 0265-1335

Keywords

Article
Publication date: 10 October 2022

Kamal Hossain, Ahmad Sufian Che Abdullah, Mohd Abd Wahab Fatoni Mohd Balwi, Asmuliadi Lubis, Noor Azlinna Azizan, Mohammad Nurul Alam and Azni Zarina Taha

This study aims to examine the effect of entrepreneurial orientation (EO) on the export performance of apparel small- and medium-sized enterprises (SMEs) and the role of multiple…

1054

Abstract

Purpose

This study aims to examine the effect of entrepreneurial orientation (EO) on the export performance of apparel small- and medium-sized enterprises (SMEs) and the role of multiple differentiation strategy as a mediation effect between their relationships. It has also investigated the moderation impact of export market category between EO and performance relationship. The multiple differentiation strategy comprises the product (PDD), customer (CTD), service (SVD) and brand (BDD) differentiations.

Design/methodology/approach

A cross-sectional survey was carried out by providing a questionnaire to senior managers and owners of the apparel SMEs from the developed and developing markets exporters. The primary data of 550 was treated by the partial least squares-structural equation modelling) technique for final analysis.

Findings

The study revealed EO’s positive and significant effect on SMEs’ export performance. The study has found the mediation effect of product, customer and brand differentiation strategies between EO and export performance relationships from the mediation analysis. In contrast, service differentiation has found no mediation effect. However, the moderation effect (export market category) has revealed an insignificant effect between EO and performance association.

Research limitations/implications

The findings of this study are based on one country data analysis. This study has been conducted in the SMEs of the apparel industry in Bangladesh, considering only owners and senior-level managers of the firms.

Originality/value

This research has drawn the attention of managers/owners to EO and multiple differentiation strategies enhancing export performance from the developing country context, such as Bangladesh. Multiple differentiation as a competitive strategy is the pioneer application of mediating effect between EO and export performance relationships. Moreover, this research has investigated the effect of the export market category as a moderator. Dearth research has applied the export market category to investigate the moderation effect between EO-performance models. Therefore, current research has theoretical and practical contributions to the international entrepreneurship and strategic management literature.

Open Access
Article
Publication date: 2 September 2016

Zhan Su and Jianmin Tang

It has been suggested that to be successful in the current global economy with increased competition and ever changing markets, especially in the post-crisis context, firms need…

12199

Abstract

Purpose

It has been suggested that to be successful in the current global economy with increased competition and ever changing markets, especially in the post-crisis context, firms need to focus more on innovation in exploring new ideas and designing new products to develop new markets than on cost-cutting strategies to maintain cost leadership in old markets. However, because of the lack of micro data, this conjecture has not been systematically evaluated. This paper aims to fill this important void by studying the economic performance associated with these two different business strategies using Canadian micro data.

Design/methodology/approach

The main data for our analysis are from the Survey of Innovation and Business Strategy (2009 and 2012) which is a sample-based survey of Canadian government. The authors used in this research regression models for the econometric analysis of the underlying factors for undertaking certain business strategies and how business strategies link to economic performance. They also used propensity score matching to ensure the group of firms with innovation strategy being comparable to that with cost-cutting.

Findings

The research shows that firms focusing on product innovation are indeed more productive than firms focusing on cost-cutting, although there is no evidence that these two different strategies make a difference in profitability. The first indication from the research has been that certain characteristics of Canadian firms are very useful predictors for firms to undertake product innovation. They are, among other things, the age of the firms, the single-establishment structure of the business and being multinationals.

Research limitations/implications

This empirical research opens up many interesting avenues for future research. Some other variables could be integrated into the models to increase the rate of explained variance. Moreover, because this research is based only on the case of Canadian firms and for a relatively short period of four years after the 2008 crisis, an extension to other context and to a longer period of time should be interesting.

Practical implications

The research has confirmed that Canadian firms adopting long-term business strategies based on product innovation are more productive.

Social implications

The results truly concur with the vision of the Government of Canada, like some other developed countries, on the importance of innovation and its policies in encouraging business innovation in driving the growth of the Canadian economy and improving the standard of living of country.

Originality/value

Mainly because of the lack of micro data, the existing researches have not provided solid evidence on why firms are choosing different business strategies when they are operating in the same business conditions and how the financial crisis has affected the undertaking of business strategies. They have not established a clear linkage between economic performance and different business strategies, although there has been some anecdotal evidence about their association. This study aims to bridge the knowledge gaps with theoretical and practical contributions.

Details

Journal of Centrum Cathedra, vol. 9 no. 1
Type: Research Article
ISSN: 1851-6599

Keywords

Article
Publication date: 18 April 2016

Jorge Vera

This paper aims to show how consumers process information differently under two dissimilar types of brand strategies. By analysing data from dishwashing detergent consumers who…

2702

Abstract

Purpose

This paper aims to show how consumers process information differently under two dissimilar types of brand strategies. By analysing data from dishwashing detergent consumers who evaluated two different brands, one with a high differentiated/performance/price brand (HB) strategy and other with a low differentiated/cost/price brand (LB) strategy, it is shown how the structural relationship between some constructs differ under each price brand strategy. With a structural path analysis, the product performance, customer satisfaction, customer perceived value and behavioural intentions relationship are assessed. Additionally, the moderating effect of the brand strategy in this structural relationship is tested.

Design/methodology/approach

Data of a sample of n = 273 Mexican dishwashing detergent users were analysed. Respondents evaluated two brands of dishwashing detergent. One brand followed a high differentiated/performance/price strategy (Axion) and the other used a low differentiated/cost/price strategy (Roma). Participants had to have been consumers of both brands of detergents. A structural path analysis to show the moderating effect of the brand strategy was implemented. A nested comparison invariance test for structural weights to corroborate differences was used, as well.

Findings

Results confirm structural differences between both brand strategies in the constructs relationship. The HB strategy showed that both satisfaction and perceived value have a mediating effect between product performance and brand intentions; on the other hand, the LB strategy showed that only satisfaction has a mediating effect between these two constructs. The explanation amount for dependent latent variables was higher for the HB strategy than for the LB strategy.

Originality/value

This study offers a distinct view of the differentiated/quality brand strategy – low cost/price brand strategy duality. It provides a theoretical-empirical explanation of the cognitive processes that both strategies involve for a customer. As well, this study conceptually relates the generic strategies theory with the use of specific brand strategies.

Article
Publication date: 5 April 2011

Mons Freng Svendsen, Sven A. Haugland, Kjell Grønhaug and Trond Hammervoll

This paper aims to investigate the impact of a firm's marketing strategy on involving customers in new product development. Special attention is to be paid to three facets of a…

14813

Abstract

Purpose

This paper aims to investigate the impact of a firm's marketing strategy on involving customers in new product development. Special attention is to be paid to three facets of a marketing strategy: product differentiation, competitor orientation and brand profiling emphasis.

Design/methodology/approach

A survey with quantitative questionnaires was used in the context of relationships between Norwegian suppliers and international buyers.

Findings

Two facets of marketing strategy, product differentiation and competitor orientation, positively impact customer involvement. Furthermore, specific investments dedicated to the relationship are also positively related to customer involvement, and customer involvement increases customer profitability.

Research limitations/implications

The study relies on data from the suppliers, and future studies should also include customer data to explore possible effects of the customer's marketing strategy on joint involvement in new product development.

Practical implications

The study shows that managers seeking to involve customers in product development should carefully develop their marketing strategy and build commitment through specific investments.

Originality/value

Previous studies show that firms can benefit from involving customers in new product development. This paper extends knowledge in the field by exploring how different facets of the firm's marketing strategy can increase or decrease the possibilities for involving customers.

Details

European Journal of Marketing, vol. 45 no. 4
Type: Research Article
ISSN: 0309-0566

Keywords

Article
Publication date: 1 December 2006

Erin D. Parrish, Nancy L. Cassill and William Oxenham

To examine how companies in the maturity stage of the product life cycle can implement and maintain a successful niche market strategy to increase competitiveness in the face of…

13955

Abstract

Purpose

To examine how companies in the maturity stage of the product life cycle can implement and maintain a successful niche market strategy to increase competitiveness in the face of new competition, with particular reference to the global textile industry.

Design/methodology/approach

Responsible executives in eight firms in the textile and apparel/clothing sector in the USA were interviewed face‐to‐face or by telephone, or completed an online questionnaire. The sample contains leaders in the industry.

Findings

Research results suggest that niche marketing is an effective strategy for countering price competition in a mature industry and can use a niche market strategy. They identify key success factors, the most important factor of which was found to be a thorough understanding of the targeted consumers. It is concluded that the marketing mix plays a more important part than is generally suggested in the literature, by communicating non‐price product attributes to the niche market.

Research limitations/implications

The small sample limits generalization beyond the companies that participated in the study and comparable firms in the US textile and apparel/clothing industry.

Practical implications

This research study shows, within its limitations, that niche marketing is a promising global competitive strategy for mature industries. The study proposes practical guidelines for putting it into practice.

Originality/value

This study generally confirms the literature, but comes to some original further conclusions.

Details

Marketing Intelligence & Planning, vol. 24 no. 7
Type: Research Article
ISSN: 0263-4503

Keywords

Article
Publication date: 1 October 2006

Erin D. Parrish, Nancy L. Cassill and William Oxenham

The purpose of this study is to examine how the textile and apparel industry can utilize a niche market strategy in order to compete with lower priced imports.

7081

Abstract

Purpose

The purpose of this study is to examine how the textile and apparel industry can utilize a niche market strategy in order to compete with lower priced imports.

Design/methodology/approach

The research design used for this study was an in‐depth case study method. The sample consisted of selected companies from the fiber, textile, apparel, and auxiliary sectors who are considered leaders in the US textile and apparel industry.

Findings

Results indicated that firms can approach a niche strategy from either a market or a product perspective. Findings also indicated variables that are used by firms for both approaches. The most important factor in which a firm needs to focus is understanding the consumer.

Research limitations/implications

Because of the limited sample size of US textile and apparel firms, the results can only be generalized to those companies that participated in the study and not the entire textile and apparel industry.

Practical implications

This research study showed that a niche strategy is a promising global competitive strategy for the textile and apparel industry that can be used to compete with lower priced imports.

Originality/value

This study clarifies not only how a niche market/product is defined by the industry, but also how firms can implement and maintain a successful niche strategy.

Details

Journal of Fashion Marketing and Management: An International Journal, vol. 10 no. 4
Type: Research Article
ISSN: 1361-2026

Keywords

Article
Publication date: 1 August 2005

Peter Trim and Hao Pan

The purpose of this paper is to make explicit how marketers employed in the pharmaceutical sector can ensure that the company is positioned in the industry as a result of a…

8249

Abstract

Purpose

The purpose of this paper is to make explicit how marketers employed in the pharmaceutical sector can ensure that the company is positioned in the industry as a result of a sustainable competitive advantage being achieved. Various factors are highlighted, including high research and development costs, stringent government regulations and cultural factors such as religion.

Design/methodology/approach

The new product launch strategy model outlined in this paper was developed from both secondary and primary sources. A literature review was undertaken, a number of in‐depth personal interviews and a focus group session were conducted, which involved managers within a pharmaceutical company. The research strategy encompassed the case study method and the NPLS model was validated and can be viewed as generalisable.

Findings

It is clear from the research undertaken that some marketing models are viewed as being too complex; however, it is generally appreciated that marketing models can be used to interpret complex relationships that are evident in a marketing system.

Research limitations/implications

Two weaknesses associated with the model were identified. First, the assumption that there was a one‐way relationship between the strategic launch decisions and the tactical launch decisions and, second, a feedback mechanism was absent that would provide users of the model with a means for evaluating their decisions and identifying alternative strategies and tactics. The model was amended and a feedback mechanism was introduced.

Practical implications

The NPLS model can be used by marketing practitioners to enhance communication between corporate level staff and subsidiary level staff, and can be used to implement and/or facilitate the strategic marketing concept within a pharmaceutical company. The model can also be used to focus attention on risk reduction/elimination associated with market entry.

Originality/value

The NPLS model is an addition to marketing knowledge and can assist marketing academics and researchers to understand better how marketing models can be constructed and implemented. The model can also be used by marketing practitioners employed by pharmaceutical companies to make tactical and strategic decisions; to evaluate a new product launch strategy; and to devise international marketing entry plans and strategies.

Details

European Business Review, vol. 17 no. 4
Type: Research Article
ISSN: 0955-534X

Keywords

1 – 10 of over 173000