Abstract
Conventional wisdom ties successful innovation primarily to technological R&D. In this paper, we introduce the concept of marketing innovation in which novelty originates separately from the innovative design, packaging, pricing, promotion, and/or distribution of technologically unchanged products and services. We argue that marketing innovation may significantly increase a firm’s innovation performance. Further, we posit that investments in marketing and technological innovation are substitutes because of resource constraints and a compounding of risks. We propose that the substitutive relationship is especially pronounced in small firms and high-tech industries. Based on the analysis of a dataset of 866 firms from a diverse set of industries in Germany, we find empirical support for our hypotheses, suggesting that novelty can in fact be decoupled from R&D
| Original language | English |
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| Publication date | 2014 |
| Number of pages | 40 |
| Publication status | Published - 2014 |
| Event | The Academy of Management Annual Meeting 2014: The Power of Words - Philadelphia, United States Duration: 1 Aug 2014 → 5 Aug 2014 Conference number: 74 http://aom.org/annualmeeting/ |
Conference
| Conference | The Academy of Management Annual Meeting 2014 |
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| Number | 74 |
| Country/Territory | United States |
| City | Philadelphia |
| Period | 01/08/2014 → 05/08/2014 |
| Internet address |