A unified innovation approach to emerging markets

Imperatives to play and win the game

Nivedita Agarwal, Alexander Brem, Michael Grottke

Research output: Chapter in Book/Report/Conference proceedingArticle in proceedingsResearchpeer-review

Abstract

Previous research shows a plethora of overlapping and interrelated innovation approaches to understand the bottom of the pyramid customer needs and markets specifications. This research attempts to (1) identify the key factors that make a product relevant to be considered as an innovation for emerging markets (2) and establish relative importance of key factors for product managers while conceptualizing a new product for emerging markets. In the first part, the study assembles the list of characteristics from the selected innovation theories revolving around emerging markets. Subsequently the identified characteristics are clustered into eight key factors using semantic similarities scores and Ward’s clustering method. An analytical hierarchy process method is employed to obtain the priorities of these eight key factors. The study concludes with a Unified Innovation Framework which presents the overarching innovation approach for emerging markets and provides a common definition for a product considered relevant for emerging market. The results show high prioritization given to cost effective, easy to use and problem centric as compared to the sustainability, no-frills, resourceful, breakthrough and fast-to-market factors by product managers. However, the paper acknowledges that the prioritization results are subject to change given different motivation behind the various theories. Finally the paper proposes that, the eight key factors required factors to “play in” emerging markets would not change, but factors to “win in” can change based on other aspects such as sector, motivation, innovation flows and government policies.
Original languageEnglish
Title of host publication21st International product development management conference proceedings : Innovation through engineering, business & design
Number of pages26
PublisherEuropean Institute for Advanced Studies in Management
Publication date2014
Publication statusPublished - 2014
EventIInternational Product Development Management Conference: INNOVATION THROUGH ENGINEERING, BUSINESS & DESIGN - University of Limerick, Limerick, Ireland
Duration: 15. Jun 201417. Jun 2014
Conference number: 21
http://www.eiasm.org/frontoffice/event_announcement.asp?event_id=950

Conference

ConferenceIInternational Product Development Management Conference
Number21
LocationUniversity of Limerick
CountryIreland
CityLimerick
Period15/06/201417/06/2014
Internet address
SeriesInternational Product Development Management Conference
ISSN1998-7374

Fingerprint

Emerging markets
Factors
Innovation
Prioritization
Managers
Bottom of the pyramid
Innovation theory
Government policy
Overlapping
Sustainability
Relative importance
Semantic similarity
New products
Clustering
Market factors
Analytical hierarchy process
Customer needs

Cite this

Agarwal, N., Brem, A., & Grottke, M. (2014). A unified innovation approach to emerging markets: Imperatives to play and win the game. In 21st International product development management conference proceedings: Innovation through engineering, business & design European Institute for Advanced Studies in Management. International Product Development Management Conference
Agarwal, Nivedita ; Brem, Alexander ; Grottke, Michael. / A unified innovation approach to emerging markets : Imperatives to play and win the game. 21st International product development management conference proceedings: Innovation through engineering, business & design. European Institute for Advanced Studies in Management, 2014. (International Product Development Management Conference).
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Agarwal, N, Brem, A & Grottke, M 2014, A unified innovation approach to emerging markets: Imperatives to play and win the game. in 21st International product development management conference proceedings: Innovation through engineering, business & design. European Institute for Advanced Studies in Management, International Product Development Management Conference, IInternational Product Development Management Conference, Limerick, Ireland, 15/06/2014.

A unified innovation approach to emerging markets : Imperatives to play and win the game. / Agarwal, Nivedita; Brem, Alexander; Grottke, Michael.

21st International product development management conference proceedings: Innovation through engineering, business & design. European Institute for Advanced Studies in Management, 2014. (International Product Development Management Conference).

Research output: Chapter in Book/Report/Conference proceedingArticle in proceedingsResearchpeer-review

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Agarwal N, Brem A, Grottke M. A unified innovation approach to emerging markets: Imperatives to play and win the game. In 21st International product development management conference proceedings: Innovation through engineering, business & design. European Institute for Advanced Studies in Management. 2014. (International Product Development Management Conference).