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Article
Publication date: 23 November 2021

Chenxiao Wang, Feng Guo and Qingpu Zhang

Based on the literature on disruptive innovation, this research explores how disruptive innovation directly and indirectly (via innovation speed and innovation quality…

Abstract

Purpose

Based on the literature on disruptive innovation, this research explores how disruptive innovation directly and indirectly (via innovation speed and innovation quality) influences firm performance in relation to the contingency of market-supporting institutions.

Design/methodology/approach

A sample of 207 firms was gathered through questionnaires targeting senior managers and R&D managers from high-tech firms in China with two waves including explanatory variables and outcome variables.

Findings

This empirical results indicate that disruptive innovation positively affects firm performance, and that innovation speed and innovation quality mediate the relationship between disruptive innovation and firm performance. Meanwhile, market-supporting institutions positively moderate the relationship between innovation speed and firm performance, but negatively moderate the relationship between innovation quality and firm performance.

Research limitations/implications

This study suggests that disruptive innovation is important to firm performance, innovation speed and innovation quality play mediating roles, and market-supporting institutions acts as moderating effects. A research limitation is that the data were collected mainly through a questionnaire.

Practical implications

Firms should incorporate disruptive innovation as an important strategy and improve innovation speed and innovation quality to promote firm performance, and policymakers should improve the levels of market-supporting institutions to facilitate innovation and performance.

Originality/value

This study contributes the literature of disruptive innovation by uncovering the positive effect of disruptive innovation and firm performance and the mediating effects of innovation speed and innovation quality on the abovementioned relationship, and revealing their contingency effects of market-supporting institutions.

Details

European Journal of Innovation Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1460-1060

Keywords

Article
Publication date: 12 September 2016

Huiying Zhang and Fan Yang

The purpose of this paper is to bridge the gap in understanding the effects of external involvement on new product market performance. Particularly, the authors…

Abstract

Purpose

The purpose of this paper is to bridge the gap in understanding the effects of external involvement on new product market performance. Particularly, the authors investigate the mediating effects of speed-to-market of new products and moderating effects of information technology (IT) implementation.

Design/methodology/approach

This study is based on the high-performance manufacturing (HPM) project database collected from 366 manufacturing plants in ten countries and three representative industries. The hierarchical regression analysis is employed to explore the relationships in the model.

Findings

The empirical findings indicate that speed-to-market of new products positively and significantly mediates the relationship between customer involvement and new product market performance. The results also demonstrate that IT implementation moderates the relationship between external involvement and speed-to-market of new products. More importantly, the findings reveal that supplier involvement is less likely to lead to the enhancement of speed-to-market if the firm is not able to establish a higher level of IT implementation.

Practical implications

This analysis uncovers the way of how customer and supplier involvement are related to new product market performance, and highlights the importance of IT implementation in absorbing and exploiting external resources.

Originality/value

This paper moves us from a simplistic understanding of external involvement to a more nuanced and complex model which is closer to reality. The obtained findings highlight the importance for manufacturers to establish speed advantage of new products and implement IT as an enabler.

Details

Industrial Management & Data Systems, vol. 116 no. 8
Type: Research Article
ISSN: 0263-5577

Keywords

Article
Publication date: 24 August 2010

Pilar Carbonell and Ana I. Rodríguez Escudero

It has been argued that innovation speed has been inappropriately absent in models of market orientation. The present study seeks to provide new insights into whether and…

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Abstract

Purpose

It has been argued that innovation speed has been inappropriately absent in models of market orientation. The present study seeks to provide new insights into whether and how market orientation's three main components: intelligence generation, intelligence dissemination, and responsiveness affect innovation speed and new product performance, and about the mediating role of innovation speed.

Design/methodology/approach

Data were collected from a sample of 247 firms in a variety of manufacturing industries. A mail survey was developed to collect the data.

Findings

The results indicate that intelligence generation has an indirect positive effect on innovation speed via intelligence dissemination and responsiveness. Intelligence dissemination influences innovation speed positively, both directly and indirectly through responsiveness. Findings report a curvilinear (J‐shaped) relationship between responsiveness and innovation speed. With regard to the effect of the market orientation's components on new product performance, the findings indicate a positive relationship between responsiveness and new product performance. The parameter estimates for the direct paths linking intelligence generation and intelligence dissemination with new product performance were found to be not significant. Instead, the findings show that intelligence generation and intelligence dissemination influence new product performance indirectly through responsiveness. Finally, a positive relationship was found between innovation speed and new product performance.

Originality/value

The research makes three important contributions to the marketing strategy and new product development literatures. First, by splitting market orientation into the components of intelligence generation, intelligence dissemination and responsiveness, the study provides a closer examination into the effect of market orientation on innovation speed and new product performance. Second, the results indicate that the effects of intelligence generation and intelligence dissemination on innovation speed and new product performance are mediated by responsiveness to market intelligence. Third, findings support the argument that innovation speed partially mediates the effect of market orientation's three main components on new product performance.

Details

Journal of Business & Industrial Marketing, vol. 25 no. 7
Type: Research Article
ISSN: 0885-8624

Keywords

Article
Publication date: 14 November 2016

Michael T. Krush, Raj Agnihotri and Kevin J. Trainor

This paper aims to focus on the value of marketing dashboards, a key area of interest for scholars and practitioners. This study examines two critical outcomes of marketing

5557

Abstract

Purpose

This paper aims to focus on the value of marketing dashboards, a key area of interest for scholars and practitioners. This study examines two critical outcomes of marketing dashboards: marketing strategy implementation speed and market information management capability. Additionally, the research analyzes the impact of the firm’s internal structure on the relationship between marketing dashboards and the outcomes.

Design/methodology/approach

A conceptual model grounded in the knowledge-based view of the firm is tested. The research uses survey data collected from marketing professionals employed within business-to-business firms. Data from the key informants are analyzed using structural equation modeling.

Findings

The results demonstrate that marketing dashboards are significantly related to marketing strategy implementation speed and market information management capability. Centralization exhibits a negative moderating effect, and formalization exhibits a positive moderating effect on the relationship between marketing dashboards and marketing strategy implementation speed. Marketing strategy implementation speed and market information management capability are related to market performance.

Originality/value

Through the examination of main and moderating relationships, this paper demonstrates that marketing strategy implementation speed and market information management capability are key integration mechanisms that leverage the marketing dashboard resources.

Details

European Journal of Marketing, vol. 50 no. 12
Type: Research Article
ISSN: 0309-0566

Keywords

Article
Publication date: 12 April 2013

Dennis Y. Chung and Karel Hrazdil

The aim of this paper is to examine the informational efficiency of prices of all exchange traded funds (ETFs) that are actively traded on the NYSE Arca, based on…

1126

Abstract

Purpose

The aim of this paper is to examine the informational efficiency of prices of all exchange traded funds (ETFs) that are actively traded on the NYSE Arca, based on methodology developed by Chordia et al.

Design/methodology/approach

The authors estimate the speed of convergence to market efficiency based on short‐horizon return predictability from past order flows of 273 ETFs that were traded every day on the NYSE Arca during the first six months of 2008, and compare the resulting price formation process to that of shares traded on the NYSE and NYSE Arca.

Findings

Despite the significant differences in trading costs, volatility, and informational effects between ETFs and regular stocks, the paper documents that price adjustments to new information for ETFs occur in about 30 minutes, which is comparable to price adjustments for traditional stocks traded on Arca. In multivariate setting, the paper further shows that the speed of convergence to market efficiency of ETFs is not only significantly driven by volume, but also by the probability of informed trading.

Research limitations/implications

The findings provide direct answers and insights to questions posed in a recent SEC concept release document. The analysis of the speed of convergence provides a feasible measure to assess how efficiently prices of ETFs respond to new information.

Originality/value

The authors are first to utilize the short‐horizon return predictability from historical order flow approach to evaluate the price formation process of ETFs and to provide evidence on the determinants of its efficiency.

Details

Managerial Finance, vol. 39 no. 5
Type: Research Article
ISSN: 0307-4358

Keywords

Article
Publication date: 1 January 2004

Ajay Menon and Bryan A. Lukas

The objective of this paper is to extend the study of new product development speed in the marketing discipline. The article outlines a conceptual framework to organize…

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Abstract

The objective of this paper is to extend the study of new product development speed in the marketing discipline. The article outlines a conceptual framework to organize and guide future theoretical and empirical research. A set of propositions is developed which focus on the antecedents and outcomes of new product development speed germane to the discipline of marketing. The article discusses how both infrastructural factors (bureaucratic structure and adhocratic culture) and procedural factors (organizational control and interfunctional coordination) affect new product development speed. It also discusses the impact of new product development speed on performance factors internal to the organization (organizational learning and organizational stress). Research contributions and research directions are addressed.

Details

European Journal of Marketing, vol. 38 no. 1/2
Type: Research Article
ISSN: 0309-0566

Keywords

Article
Publication date: 27 July 2012

Mamoun N. Akroush

The purpose of this paper is to develop a model examining the effect of organizational capabilities over new product (NP) performance. Building on a literature review, the…

2092

Abstract

Purpose

The purpose of this paper is to develop a model examining the effect of organizational capabilities over new product (NP) performance. Building on a literature review, the model proposes that organizational capabilities (i.e. technological, marketing mix, and customer‐relational capabilities) exert a direct effect over two dimensions of new product competitive advantage (i.e. new product quality and speed), which in turn exert a direct effect over new product customers and financial performance.

Design/methodology/approach

Based on a literature review, a structured questionnaire was developed as a primary data collection method. Questionnaires were distributed to a sample of 473 manufacturing organizations in Jordan, out of which 355 were returned and deemed valid for the analysis. Structural equation modeling was applied to examine the model and its related hypotheses.

Findings

Out of the three organizational capabilities, only marketing mix capabilities had a direct positive effect over both new product quality and speed to the market, while technological capabilities had no significant direct effect over both dimensions of new product competitive advantage. Customer‐relational capabilities had a direct effect over new product quality only. On the other hand, while new product quality exerted a positive direct effect over both NP financial and customer performance, new product speed to the market had a direct positive effect over NP customer performance only. Finally, NP customer performance exerted a positive direct effect over NP financial performance.

Research limitations/implications

The fact that the paper is a single country study focusing on the manufacturing industry limits its generalization to other industries/contexts. Furthermore, the paper focuses on two dimensions of new product performance, i.e. customer performance and financial performance. Other dimensions of new product performance might add more insights to the effects new product competitive advantage exerts.

Practical implications

Managers must focus their efforts on developing marketing activities in a competitive manner so that they can introduce both quick and satisfactory new products. Hence, a special focus on marketing function is required. Not only traditional activities of marketing, but also generation, utilization, and management of customer information and knowledge are necessary to introduce competitive new products. Marketing function should be given the lead in the new product development (NPD) process. However, to avoid any rivalry between marketing, production, and R&D, top management needs to foster the marketing concept as a philosophy and to spread it across the organization.

Originality/value

The paper adds to the research on sources of new product competitive advantage in developing countries. It also underlines the need to focus on different dimensions of NP competitive advantage, rather than approaching it from a holistic perspective. The paper further underlines that organizations should focus on long‐term results of NPD, such as NP customer performance, rather than solely focusing on short‐term financial results.

Article
Publication date: 30 September 2020

Divesh Ojha, Elisabeth Struckell, Chandan Acharya and Pankaj C. Patel

The research first and uniquely explores the antecedent relationship among three highly studied environmental forces – competitive intensity (CI), market turbulence (MT…

Abstract

Purpose

The research first and uniquely explores the antecedent relationship among three highly studied environmental forces – competitive intensity (CI), market turbulence (MT) and technological turbulence (TT) – in a service context. Next, given the importance of services to the USA and global gross domestic product (GDP) and the unique characteristics of services versus product firms, the research examines the impact of environmental forces on innovation speed capability, a less studied but critical enabler of service innovation. Finally, this study aims to suggest the importance of the sequential relationship between two dynamic capabilities – innovation speed and operational flexibility – to realize advantage.

Design/methodology/approach

This study surveyed 264 US service firms in a business to business context and tested this research model using structural equation modeling.

Findings

The results yielded three major conclusions: in a service context when examining the relationship among the three environmental forces, CI appears to have the driving influence on MT and TT, MT, however, was the only environmental force that this study found to bare positive and significant direct influence on innovation speed. Looking at the zero-order effect of MT and TT on innovation speed this study found each to be positive and significant suggesting a negative suppression effect and innovation speed’s influence on performance relative to competitors is fully mediated by operational flexibility.

Originality/value

The paper contributes to context, as service firms represent the majority of the USA and global GDP. This study extends the literature on the highly studied environmental forces (MT, TT and CI) by examining how they influence each other in an antecedent role and in service context. This study extends service literature by going beyond the influence of environmental forces on innovation to examine the dynamic capability of innovation speed, suggested as uniquely important to service context and distinct from the more highly studied innovation construct. The study also extends prior research in the manufacturing (product) context that suggests the importance of sequential congruence between two critical dynamic capabilities – innovation speed and operational flexibility – necessary to deliver competitive advantage.

Details

Journal of Business & Industrial Marketing, vol. 36 no. 9
Type: Research Article
ISSN: 0885-8624

Keywords

Article
Publication date: 6 May 2014

Paraskevas Argouslidis, George Baltas and Alexis Mavrommatis

– This paper aims to consider decision speed’s role in the largely neglected decision area of product elimination.

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Abstract

Purpose

This paper aims to consider decision speed’s role in the largely neglected decision area of product elimination.

Design/methodology/approach

Drawing on an inter-disciplinary theoretical background (e.g. organisational, decision speed and product elimination theories), the authors develop and test a framework for decision speed’s effects on the market and financial outcomes of a stratified random sample of 175 consumer product eliminations.

Findings

In contrast to decision speed research that hypothesised (and often failed to confirm) linearity, results show inverted ∪-shaped decision speed-to-decision outcomes relationships, with curvatures moderated by product importance, environmental complexity and turbulence.

Research limitations/implications

Findings are suggestive of several implications for the above theories (e.g. contribution to the dialogue about performance-enhancing value of rational vs incremental decision-making; evidence that excessive decision speed may become too much of a good thing). Certain design limitations (e.g. sampling consumer goods’ manufacturers only) point at avenues for future inquiry into the product elimination decision speed-to-outcomes link.

Practical implications

Managerially, the findings suggest that product eliminations’ optimal market and financial outcomes depend on a mix of speed and search in decision-making and that this mix requires adjustments to different levels of product importance, interdependencies with other decision areas of the firm and environmental turbulence.

Originality/value

The paper makes a twofold contribution. It enriches decision speed research, by empirically addressing speed’s outcomes in relation to a decision area that is not necessarily strategic and represents the first explicit empirical investigation into outcomes of decision speed in product line pruning decision-making.

Details

European Journal of Marketing, vol. 48 no. 5/6
Type: Research Article
ISSN: 0309-0566

Keywords

Article
Publication date: 3 August 2021

Ali E. Akgün and Volkan Polat

This study aims to investigate marketing capabilities that represent the marketing mix from an adaptive perspective: brand management, customer relationship management…

Abstract

Purpose

This study aims to investigate marketing capabilities that represent the marketing mix from an adaptive perspective: brand management, customer relationship management, price management and multi-channel management. Also, this study identifies how adaptive marketing capabilities (AMCs) enrich superior innovativeness and speed-to-market regarding innovation orientation and marketing orientation as the two critical functions.

Design/methodology/approach

A questionnaire-based research was performed to test the proposed hypotheses. The data were collected from predominately marketing or research and development managers/senior specialists in 247 firms.

Findings

Strategic orientations that cover market and innovation orientation facilitate a firm’s AMCs, positively affecting its innovativeness and speed-to-market. Also, AMCs mediate the relationship between strategic orientations, and innovativeness, and speed-to-market. Further, this study confirms the complementary association of AMC-related variables in enhancing firm innovativeness and speed-to-market.

Research limitations/implications

This study is subject to the limitations inherent in survey design, particularly convenient sampling and single informants.

Originality/value

This study broadens understanding of dynamic capabilities theory by examining how marketing capabilities can be enhanced and examined from an adaptive perspective for firms. This study also presents a model for the potential relationships among strategic orientations, AMCs, innovativeness and speed-to-market.

Details

Journal of Business & Industrial Marketing, vol. 37 no. 4
Type: Research Article
ISSN: 0885-8624

Keywords

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