Read the summary and the most important questions on Lecture PowerPoints Marketing & Innovation

• 1 Introduction

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• What is the relation between market orientation and innovation?

  Innovations facilitate the conversion (omzetting) of market-oriented business philosophy into superior corporate performance. 
  (innovation is one way of implementing market orientation)

• What is the importance of new products?

  - Facilitates implementation market orientation
  - Needed for differentiating from competitors 
  - Needed for long term performance/survival

• What means customer intimacy?

  True customer intimacy requires a deep understanding of the context in which our products and services are used in the course of our customers' day-to-day lives.

• 2 Product Strategy

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• What is managerial myopia?

  A short-sighted and inward-looking approach to marketing.

• Why do leading firms fail?

  • Managerial myopia
  • Small markets don't solve the growth needs of large companies
  • Core capabilities become core rigidities: develop new products the old fashioned way

• The ultimate commercial performance of incumbents is determined by (Tripsas):

  1. Investment in new technology
  2. Technical capabilities
  3. Specialized complementary assets

• What are the three dimensions of willingness to cannibalize (Nijssen)?

  • W2C previous investments
  • W2C capabilities
  • W2C sales

• Market orientation can be divided into (Hillebrand):

  • Customer orientation
  • Future market focus

• What can we do to overcome this inertia (why do firms fail)?

  • Organize according to market requirements 
  • Be willing to cannibalize (focus on understanding current and future customers and future customer needs) 
  • Innovation based on an in-depth understanding of customer value

• 3 Adoption

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• What are Rogers' adoption characteristics?

  • Socio-economic variables (income, age, education) 
    
  • Psychological variables (product involvement, innovativeness)
  • Communication-related variables (use of mass media, size personal network)