Brem Alexander - Adoption of innovation: balancing internal and external stakeholders in the marketing of innovation
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This edited volume brings together academics from both innovation and marketing fields to explore the additional value for companies that can be generated with the innovations in marketing and the marketing of innovations. If ideas need to reach the marketplace, then marketing strategies, concepts and tools - such as the continuous development of new product and services - become vital for their success. On the other hand, marketing management is influenced by innovation as illustrated by the way social media and Internet have revolutionized the traditional marketing-mix. Such linkages between innovation and marketing research need to be much stronger as companies have to convince internal and external stakeholders to achieve successful innovation strategies. State-of-the-art research output from different perspectives would suit the needs of a researcher as well as the company CEO alike--Rsum de lditeur.;Adoption of Innovation -- Balancing Internal and External Stakeholders in the Marketing of Innovation -- Corporate Prediction Markets for Innovation Management -- Innovations in Consumer Science: Applications of Neuro-Scientific Research Tools -- Social Cognitive Theory and the Technology Acceptance Model in the Cloud Computing Context: The Role of Social Networks, Privacy Concerns and Behavioural Advertising -- Customer Co-Production and Service Innovation Characteristics: A Conceptual Argument -- Building Innovative Competitive Advantage in the Mind of Customers -- Institutions and Collaborative Innovation -- Organizing Open Innovation for Sustainability -- Visions and Radical Innovation: A Typology -- Innovating the Business Model: The Case of Space -- Real Options Reasoning and Innovative Performance in the Context of Dynamic Capabilities -- Uncovering Driving Forces for Better Product Innovation: Have Russian Firms Learned to Balance the Focus on Internal and External Partner?.
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Guerric De Ternay
Janell NaKia Harvey
Levinson
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Springer International Publishing Switzerland 2015
Alexander Brem and ric Viardot (eds.) Adoption of Innovation 10.1007/978-3-319-14523-5_1Adoption of Innovation: Balancing Internal and External Stakeholders in the Marketing of Innovation
Alexander Brem 1
(1)
The Mads Clausen Institute, University of Southern Denmark, Snderborg, Denmark
(2)
Global Innovation Management Centre, EADA Business School, Barcelona, Spain
Alexander Brem (Corresponding author)
Email:
ric Viardot
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Abstract
In recent years, innovation management has shown to be a very important topic for academics and professionals. However, the emphasis has mostly been on the upstream activities of the innovation management process and specifically about how to obtain as well as to integrate new sources of innovation beyond the traditional and internal R&D function. Conversely, the downstream activities of the innovation process, specifically marketing and commercialization, have attracted little research. But the situation is changing now due to governments and companies that have realized that in order for an innovation to be successful, it is not enough to have good new ideas: it must foremost be adopted by the market. As a consequence, there is currently a shift in priorities and a renewed interest in the marketing of innovation and especially in the adoption of original products or services, because one important function of marketing is to contribute to the adoption of innovative solutions by potential customers. This book aims to contribute to this advancement and to provide fresh conceptual insights and thinking about the manners to stimulate and to facilitate the adoption of every kind of innovation. This will be managed by a very diverse contributions exploring the role and the balancing of internal and external stakeholders in the marketing of innovation.
This book arrives at the perfect time when it comes to the study of innovation management as the adoption of innovation has become a crucial issue for both practitioners and academics.
For the last 5 years at least, innovation has been one of the top priorities for companies executives and chief marketing officers (Kim et al. ) have emerged and are now mainstream in the academic literature about innovation management. At the same time, some companies have shown an extraordinary ability to open their innovation process to external partnerssuppliers, distributors, customers, even individual volunteers or members of social communities.
In other words, the emphasis was on the upstream activities of the innovation management process and specifically about how to obtain as well as to integrate new sources of innovation beyond the traditional and internal R&D function. Customers were considered mostly as one additional source of innovation among others, through the interaction process of co-creation, more than a key component of the commercialization of innovation.
The downstream activities of the innovation process, specifically marketing and commercialization, have attracted little research, but this situation is changing now. Indeed, companies and governments have realized that in order for an innovation to be successful, it is not enough to have good new ideas: it must foremost be adopted by the market. Without market success, an innovation is just a useless invention whose failure will dent the profitability of the company which is selling it or will even lead it to bankruptcy. And at the same time, employees, suppliers, etc. must be informed and convinced as well, that the innovation is a win for them.
As a consequence, there is currently a shift in priorities and interest in the management of innovation. The European Union for instance has been considering shifting its priorities in order to stimulate innovation, by making the adoption of innovation one of its 10 priorities in its new Research and Innovation Programme from 2014 to 2020, named Horizon 2020 (Salmelin ).
Hence, there is now a renewed interest in the marketing of innovation and especially in the adoption of original products or services, because one important function of marketing is to contribute to the adoption of innovative solutions by potential customers, which can be consumers or organizations.
Contents
This book aims to contribute to this advancement and to provide fresh conceptual insights and thinking about the manners to stimulate and to facilitate the adoption of every kind of innovation, either radically or incrementally as well as either at the level of products or processes or business models. To ensure the quality of the material in this book, all articles have been through a blind peer-review process.
The first chapter of the book by Christian Horn and Bjrn Ivens analyzes how new marketing tools, known as Prediction Markets, can help companies to get a better knowledge of their future market environments and conditions which translates into a better marketing planning and therefore into an improvement of their innovation success rates. Prediction markets can be defined as (virtual) markets that organize information with the help of market mechanisms, namely prices and trading. The authors introduce the theoretical foundations of prediction markets. Then they present how those tools can be used in various stages of the innovation management process as well as when forecasting demand or anticipating changes in a competitive environment. Prediction markets are especially useful in business environments where knowledge is dispersed and predictive reports are needed continuously or periodically for the evaluation and rating of huge amounts of ideas, concepts, alternatives and new product market entries.
The following chapter by Sharad Agarwal and M. J. Xavier sheds a new light on how to get a better understanding of customers needs and expectations thanks to the application of the recent progress made in neuroscience. Today, it is estimated that more than 90 % of the information is processed unconsciously and subconsciously in human beings as any individual receives far more information than a human brain is capable of absorbing consciously. Actually the unconscious mind of the homo sapiens takes care of all the vital processes in the body and plays a critical role in decision-making. First the authors remind us of the latest development in the application of neurosciences to marketing. Then they discuss how those neuro-marketing tools help companies to get enhanced consumer insights about their desires. The authors provide various examples of how consequently the use of those neuro-marketing tools facilitate the development of innovative new products that are more easily and quickly adopted by the market.
Another revolution has made a big impact on the marketing of innovative solutions: it is the technology of cloud computing, which is discussed at large by Vanessa Ratten in the chapter . Cloud computing is a form of utility and platform computing that has managed to become widely available in the very recent years and which has a deep effect on customers behavior. It has increased in popularity due to more consumers that want interactive technology applications. Cloud computing has changed the way consumers access information services as they are maintained and updated as technology can be configured on demand. Companies can now constantly generate information available on demand and based on consumer tastes and preferences. Theoretically with cloud computing, companies may have a vast potential to facilitate the adoption of innovative solutions by providing qualified information to the customers as well as receiving direct feedback from the clients. The author analyzes the reasons why consumers adopt cloud computing and identifies the main drivers but also the main impediments for the adoption of this promising technology by the markets. Hence, the article provides a powerful theoretical framework to understand the consumers intention to adopt cloud computing. It also provides useful insights for companies, which plan to rely more extensively on cloud computing to accelerate the adoption of their own innovations.
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