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Deviation Among Technology Reviews: An Informative Enrichment of Technology Evolution Theory for Marketing

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  • Sood, A.
  • Stremersch, S.
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    Abstract

    Understanding technological change is of critical importance to marketers, as it bears new markets, new brands, new customers, and new market leaders. This paper examines the deviation among reviews of a technology’s performance and its consequences for inferences on technology evolution patterns. The basic premise of the current paper is that technology evolution literature, while highly relevant, is misguided in that it ignores potential deviation among technology reviews. Using a comprehensive dataset of all published reviews, both before and after FDA approval, of 7 statins for cholesterol reduction (LDL) from 1982 to 2007, the authors find that: (1) there exists vast deviation among reviews of technology performance leading to systematic bias in the portrayal of the path of technology evolution, especially if one relies only on manufacturer’s claims, (2) such deviation does not fade over time, (3) technology review (study design) characteristics affect the stated performance and, (4) both higher technology performance and a higher deviation affect sales positively, also when one controls for a firm’s marketing expenditures. We discuss the implications of these findings for technology evolution theory, managerial practice and public policy.

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    File URL: http://hdl.handle.net/1765/17766
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    Bibliographic Info

    Paper provided by Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam. in its series Research Paper with number ERS-2010-005-MKT.

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    Date of creation: 11 Jan 2010
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    Handle: RePEc:dgr:eureri:1765017766

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    Web page: http://www.erim.eur.nl/

    Related research

    Keywords: marketing; performance; innovation; statins; sales; reviews; detailing; technology evolution;

    This paper has been announced in the following NEP Reports:

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    1. Venkataraman, S. & Stremersch, S., 2007. "The Debate on Influencing Doctors’ Decisions: Are Drug Characteristics the Missing Link?," Research Paper ERS-2007-056-MKT, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus Uni.
    2. John Hauser & Gerard J. Tellis & Abbie Griffin, 2006. "Research on Innovation: A Review and Agenda for," Marketing Science, INFORMS, vol. 25(6), pages 687-717, 11-12.
    3. Coscelli, Andrea & Shum, Matthew, 2004. "An empirical model of learning and patient spillovers in new drug entry," Journal of Econometrics, Elsevier, vol. 122(2), pages 213-246, October.
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