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

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  • Cillo, Paola
  • De Luca, Luigi M.
  • Troilo, Gabriele
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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.

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    File URL: http://www.sciencedirect.com/science/article/B6V77-50NGNNW-1/2/25bc701c394b3e88a646c587fcdb6e9e
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    Bibliographic Info

    Article provided by Elsevier in its journal Research Policy.

    Volume (Year): 39 (2010)
    Issue (Month): 9 (November)
    Pages: 1242-1252

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    Handle: RePEc:eee:respol:v:39:y:2010:i:9:p:1242-1252

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    Web page: http://www.elsevier.com/locate/respol

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    Keywords: Market information approach Product innovativeness Firm performance Fashion industry;

    References

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    1. Pesendorfer, Wolfgang, 1995. "Design Innovation and Fashion Cycles," American Economic Review, American Economic Association, vol. 85(4), pages 771-92, September.
    2. Atuahene-Gima, Kwaku, 1996. "Market orientation and innovation," Journal of Business Research, Elsevier, vol. 35(2), pages 93-103, February.
    3. Jarvis, Cheryl Burke & MacKenzie, Scott B & Podsakoff, Philip M, 2003. " A Critical Review of Construct Indicators and Measurement Model Misspecification in Marketing and Consumer Research," Journal of Consumer Research, University of Chicago Press, vol. 30(2), pages 199-218, September.
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    Cited by:
    1. Caniato, Federico & Caridi, Maria & Moretto, Antonella & Sianesi, Andrea & Spina, Gianluca, 2014. "Integrating international fashion retail into new product development," International Journal of Production Economics, Elsevier, vol. 147(PB), pages 294-306.

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