Product Innovation Strategies: A Firm Level Analysis

Cemil Faruk Durmaz and Burcu DÜZGÜN Öncel
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Cemil Faruk Durmaz: Department of Economics, Marmara University, Istanbul, Turkey

Yildiz Social Science Review, 2022, vol. 8, issue 1, 65-71

Abstract: In this study, we examine the association between firms’ innovation process and their product quality improvement and new product introduction strategies. Our focus is on the distinction between firms’ product quality improvement and variety extension objectives. We use data from Turkish Statistical Institute (TURKSTAT) Innovation Survey between the years 2014 and 2016. According to the descriptive results, number of firms report that product quality as very important is greater than the firms report that product variety. Logit estimations results show that majority of the product variety objective and technology level indicators are significant and positively related with probability of product innovation. There is also a positive relationship between probability of product innovation and patent applications for small and medium sized firms. Moreover, probability of innovation is positively related with variety objective whereas quality objective indicators are insignificant.

Keywords: Innovation objectives; product innovation; logit analysisJournal: Yildiz Social Science Review (search for similar items in EconPapers)
JEL-codes: F00 F30 G00 G10 K00 K20 M00 M20 O10 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:aye:journl:v:8:y:2022:i:1:p:65-71

DOI: 10.51803/yssr.1146878

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