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Commercializing a radical innovation: probing the way to the market: Probing the way to the market

Research output: Contribution to journalArticleScientificpeer-review

Details

Original languageEnglish
Pages (from-to)1372-1384
Number of pages13
JournalIndustrial Marketing Management
Volume43
Issue number8
DOIs
Publication statusPublished - 2014
Publication typeA1 Journal article-refereed

Abstract

Needs, market structures, business models, and relationships concerning radical innovations (RIs) are unpredictable and, consequently, firms face critical challenges in commercialization. Therefore, this study examines the commercialization of RIs as a process complicated by divergent challenges. By drawing on the literature on innovation management, RIs, and the commercialization and adoption of innovations, and by analyzing six longitudinal cases, the study generates its contribution: a dynamic process model for the commercialization of RIs. The model captures the iterative and partially unpredictable commercialization process comprising transits back and forth between three main zones: strategic marketing decision making, market creation and preparation, and sales creation and development. Over this probing process, a firm faces major commercialization challenges: 1) choosing a feasible strategy in conditions of uncertainty, 2) understanding the benefits of innovation from the customer's perspective, 3) creating credibility, 4) acquiring support from stakeholders and the ecosystem, 5) overcoming adoption barriers, and 6) creating sales. For managers, the results suggest diligence in the neglected market creation and preparation zone instead of attempting rushed sales creation.

ASJC Scopus subject areas

Keywords

  • Case study, Commercialization, Innovation management, Innovation process, Radical innovation