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Market information approaches, product innovativeness, and firm performance: an empirical study in the fashion industry

Cillo, Paola, De Luca, Luigi Mario and Troilo, Gabriele 2010. Market information approaches, product innovativeness, and firm performance: an empirical study in the fashion industry. Research Policy 39 (9) , pp. 1242-1252. 10.1016/j.respol.2010.06.004

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Abstract

In this study the authors propose a distinction between two approaches to market information, rooted in the marked-based learning theory. The two approaches are conceptualized and operationalized on the basis of their differences along three processes: generation, dissemination and use of market information. In the retrospective approach, the generation process is based on expressed customer needs and extant market relations; the dissemination is based on formal mechanisms; the use process is more instrumental. In the forward-looking approach, the generation process is based on latent customer needs and on the evolutionary patterns of the future market relations; the dissemination process is more informal; the use of information is more conceptual. A series of hypotheses concerning the relationships between these approaches, product innovativeness and firm performance are tested on a sample of Italian fashion firms. Results suggest that the two approaches are complementary for firm performance, but have opposite effects on product innovativeness: while a forward-looking approach is positively related to product innovativeness, a retrospective approach seems to be negatively related. The results also shed light on how market information approaches and product innovativeness jointly affect firm performance.

Item Type: Article
Date Type: Publication
Status: Published
Schools: Business (Including Economics)
Subjects: G Geography. Anthropology. Recreation > GV Recreation Leisure
H Social Sciences > HD Industries. Land use. Labor
H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
H Social Sciences > HF Commerce
Uncontrolled Keywords: Market information approach; Product innovativeness; Firm performance; Fashion industry
Publisher: Elsevier
ISSN: 0048-7333
Last Modified: 04 Jun 2017 03:17
URI: http://orca.cf.ac.uk/id/eprint/19469

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