The Digitization of European business: The Digital Innovation Hubs, what is next?

• Jose Luis Hervás-Oliver ^[1]
  1. [1] Universidad Politécnica de Valencia

     Universidad Politécnica de Valencia

     Valencia, España

     
• Localización: ESIC Digital Economy & Innovation Journal, ISSN-e 2792-8721, Vol. 1, Nº. 1, 2021, págs. 39-58
• Idioma: inglés
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• Resumen

  • It is a fact that firms that are operating in emerging economies should choose appropriate strategies to overcome the idiosyncratic challenges of competition and achieve competitive advantage. The objective of this paper is provide a model of product innovation strategy in various circumstances. According to the contemporary marketing strategies, it seems some important models related to product innovation like as Ansoff’s grid requires a modern theoretical update. As such, an updated version of prior product-market growth strategic grids was provided, with sixteen distinct options. In this paper, we explore the effects of the market types in terms of homogeneous or heterogeneous in two situations, low and high competitiveness level together with firm types, market leader or market follower that the firm type is considered in both types in terms of innovation capacity level, low or high innovation capability. However, a theoretical framework is identifying the relationships amid product innovations and firm types together with market types. The paper is conceptual and exploratory in nature and builds on existing literature and the author’s experience with developing conceptual framework. Data and examples for illustration our proposed strategies, were obtained from companies in the foods and beverages industry located in Iran. The article deepens the theoretical understanding of previous models on product innovation strategies and provides an enriched dynamic classification of product innovation based on 16 strategies. It provides the decision makers of these firms with a guide for determining the blend of product innovation strategies to adopt in order to gain competitive advantage.