Innovation and new product introductions in emerging markets: Strategic recommendations for the Indian market

Gopalkrishnan R. Iyer, Peter J. LaPlaca, Arun Sharma

Research output: Contribution to journalArticle

90 Scopus citations

Abstract

While radical innovations and growth strategies supporting such innovations may provide the firm with very high returns, there are also considerable risks in devising and implementing such innovations. Apart from the business risks of venturing into new territories and new markets, radical innovations also carry with them the burden of accounting for market and environmental factors that are often not under the control of the firm. The opportunities presented by the emergence of several Asian markets, such as India and China, are particularly appealing for Western countries willing to expand into these markets. However, market characteristics, institutional development, and customer behaviors bring into sharp focus the choice of a specific innovation and new product development strategy for such markets. This paper examines these various strategic issues in the context of India. The paper concludes with strategic recommendations for managers and some propositions for future academic research.

Original languageEnglish (US)
Pages (from-to)373-382
Number of pages10
JournalIndustrial Marketing Management
Volume35
Issue number3
DOIs
StatePublished - Apr 1 2006

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Keywords

  • Comparative innovation strategies
  • Innovation in India
  • Radical innovation

ASJC Scopus subject areas

  • Marketing

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