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Innovation in the Enterprise: Market Orientation as an Important Factor towards Product Innovation

Author

Listed:
  • Fernando Nelson Villaverde Chavez

    (School of Economics, Wuhan University of Technology, Wuhan, P.R. China)

  • Zhao YuLin

    (School of Economics, Wuhan University of Technology, Wuhan, P.R. China)

Abstract

The paper reviews the state of the aspects relating to business innovation in product and the process of measurement of success or failure in their performance, key elements of strategic reflection. It analyzes various theoretical conceptualizations of market orientation, the determinant factors of different market orientation level exhibited by companies and the positive consequences derived from an optic of this nature. There is also a brief consideration of the knowledge economy. We learned those factors that have led to the development of the knowledge economy and the effects that the usage of intangible knowledge company obtains. Marketing and innovation are the cornerstones of the business strategy of market-oriented organizations.

Suggested Citation

  • Fernando Nelson Villaverde Chavez & Zhao YuLin, 2015. "Innovation in the Enterprise: Market Orientation as an Important Factor towards Product Innovation," International Journal of Management Science and Business Administration, Inovatus Services Ltd., vol. 1(11), pages 21-33, October.
    • Handle: RePEc:mgs:ijmsba:v:1:y:2015:i:11:p:21-33
    DOI: 10.18775/ijmsba.1849-5664-5419.2014.111.1003
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    References listed on IDEAS

    as
    1. Alcorta, Ludovico & Peres, Wilson, 1998. "Innovation systems and technological specialization in Latin America and the Caribbean," Research Policy, Elsevier, vol. 26(7-8), pages 857-881, April.
    2. Cooper, Robert G., 1990. "Stage-gate systems: A new tool for managing new products," Business Horizons, Elsevier, vol. 33(3), pages 44-54.
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    More about this item

    Keywords

    Market orientation; Knowledge economy; Consumer orientation; Product innovation;
    All these keywords.

    JEL classification:

    • M00 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General - - - General

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