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Market Trajectory: A Suggested Interpretation of Innovation Opportunities for Latecomer Firms
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Author(s): Hongru Xiong (State Power Economics Research Institute & Research Center for Technological Innovation, Tsinghua University, China)and Guisheng Wu (Tsinghua University, China)
Copyright: 2014
Pages: 19
Source title:
Quality Innovation: Knowledge, Theory, and Practices
Source Author(s)/Editor(s): Latif Al-Hakim (University of Southern Queensland, Australia)and Chen Jin (Zhejiang University, China)
DOI: 10.4018/978-1-4666-4769-5.ch003
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Abstract
It is widely accepted that technological trajectory theory provides great implications of opening “windows of opportunity.” However, a person can merely find limited innovation opportunities for those latecomer firms from developing economies since he or she has to overcome many barriers during catching-up process. The authors put forward traditional trajectory theory and construct a new theoretical framework to explore the evolutionary rule of innovation itself, focusing on market perspective. The authors suggest that there exist market innovation and market trajectory. Not only presenting theoretical deduction for introducing this new framework, the authors also conduct several brief case studies to interpret innovation opportunities derived from market trajectory. The authors’ proposed model offers some new theoretical contributions and also important implications for barrier breakthrough and exploring innovation opportunities. Latecomer firms could utilize market trajectory to greatly broaden “windows of opportunities” and catch up, mainly through seizing low-end markets, or exploiting latent segmentation, or finding “blue ocean.”
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