THE ROLE OF MARKET KNOWLEDGE TYPE ON PRODUCT INNOVATION PERFORMANCE

Dan Petrovici (), Michael Obal, Bryn Walton () and Andrew Fearne ()
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Dan Petrovici: Kent Business School, University of Kent, United Kingdom
Michael Obal: Manning School of Business, University of Massachusetts Lowell, USA
Bryn Walton: Market Research, Deloitte, United Kingdom
Andrew Fearne: Norwich Business School, University of East Anglia, United Kingdom

International Journal of Innovation Management (ijim), 2019, vol. 24, issue 05, 1-30

Abstract: While it is understood that market knowledge can positively impact product innovation performance (PIP), a better understanding on the nuanced roles of different aspects of market knowledge is needed. More specifically, we aim to gain an understanding of how different types of market knowledge, such as tacit knowledge, are developed and utilised, especially in high uncertainty environments. This research was conducted with a sample of in-depth interviews with industry experts in new product development in the UK grocery sector (N=8) followed up by a survey of 193 companies from the UK grocery sector. The study proposes two measures of market information-gathering activities (MIGA) and market knowledge volume informed by input from experts in the UK grocery sector. Results show that MIGA have a positive effect on market knowledge volume and specificity. Market knowledge volume and specificity consequently have a direct effect on PIP. Finally, market knowledge tacitness is positively moderated by market uncertainty. That is, market knowledge tacitness is most impactful in high uncertainty environments, but offers limited benefit in low uncertainty environments. This study provides evidence of how market knowledge-gathering activities and types can positively impact new product performance, especially in high uncertainty environments.

Keywords: Market knowledge; new product development; market information-gathering activities; market knowledge tacitness; market uncertainty; product innovation performance (search for similar items in EconPapers)
Date: 2019
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DOI: 10.1142/S1363919620500462

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