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Role of "Lead Market" factors in globalization of innovation: Emerging evidence from India & its implications

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  • Tiwari, Rajnish
  • Herstatt, Cornelius

Abstract

Access to lead markets is generally regarded as an important driver of the increasing globalization of innovation since these are considered to be early indicators for emerging customer needs. They are traditionally thought to exist in economies with high per capita income, sophisticated markets and high international visibility. We, however, propose that there is an increasing evidence of lead market tendencies in some emerging economies, e.g. India. We undertake a literature review to crystallize the need for an update/extension of the existing model to better reflect the changed ground realities and propose that factors such as voluminous markets, strong technological capabilities, and favorable government policies may be able to offset some of the disadvantages rooted in traditional deficiencies of developing economies. Engaging a developing country lead market may be useful for firms in securing better access to markets at the bottom of the economic pyramid, worldwide. --

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Bibliographic Info

Paper provided by Hamburg University of Technology (TUHH), Institute for Technology and Innovation Management in its series Working Papers with number 64.

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Date of creation: 2011
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Handle: RePEc:zbw:tuhtim:64

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Keywords: Lead Markets; India; Globalization of Innovation; Internationalization of R&D; Frugal Innovations;

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References

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  1. Brouwer, Erik & Kleinknecht, Alfred, 1999. "Innovative output, and a firm's propensity to patent.: An exploration of CIS micro data," Research Policy, Elsevier, vol. 28(6), pages 615-624, August.
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  7. Gassmann, Oliver & von Zedtwitz, Maximilian, 1999. "New concepts and trends in international R&D organization," Research Policy, Elsevier, vol. 28(2-3), pages 231-250, March.
  8. Marian Beise & Heike Belitz, 1998. "Trends in the Internationalisation of R&D - the German Perspective," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 67(2), pages 67-85.
  9. Archibugi, Daniele & Iammarino, Simona, 1999. "The policy implications of the globalisation of innovation," Research Policy, Elsevier, vol. 28(2-3), pages 317-336, March.
  10. Stephan Buse & Rajnish Tiwari & Cornelius Herstatt, 2010. "Global Innovation: An Answer To Mitigate Barriers To Innovation In Small And Medium-Sized Enterprises?," International Journal of Innovation and Technology Management (IJITM), World Scientific Publishing Co. Pte. Ltd., vol. 7(03), pages 215-227.
  11. Archibugi, Daniele & Michie, Jonathan, 1995. "The Globalisation of Technology: A New Taxonomy," Cambridge Journal of Economics, Oxford University Press, vol. 19(1), pages 121-40, February.
  12. Nagesh Kumar, 2008. "Internationalization of Indian Enterprises : Patterns, Strategies, Ownership Advantages and Implications," Microeconomics Working Papers 22113, East Asian Bureau of Economic Research.
  13. Duysters, Geert & Hagedoorn, John, 1996. "Internationalization of corporate technology through strategic partnering: an empirical investigation," Research Policy, Elsevier, vol. 25(1), pages 1-12, January.
  14. Rennings, Klaus & Smidt, Wilko, 2008. "A Lead Market Approach Towards the Emergence and Diffusion of Coal-fired Power Plant Technology," ZEW Discussion Papers 08-058, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  15. Frédérique Sachwald, 2008. "Location choices within global innovation networks: the case of Europe," The Journal of Technology Transfer, Springer, vol. 33(4), pages 364-378, August.
  16. von Zedtwitz, Maximilian & Gassmann, Oliver, 2002. "Market versus technology drive in R&D internationalization: four different patterns of managing research and development," Research Policy, Elsevier, vol. 31(4), pages 569-588, May.
  17. Tiwari, Rajnish & Herstatt, Cornelius, 2009. "The emergence of Indian multinationals: An empirical study of motives, status-quo and trends of Indian investments in Germany," Working Papers 56, Hamburg University of Technology (TUHH), Institute for Technology and Innovation Management.
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Citations

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Cited by:
  1. Tiwari, Rajnish & Herstatt, Cornelius, 2012. "India - a lead market for frugal innovations? Extending the lead market theory to emerging economies," Working Papers 67, Hamburg University of Technology (TUHH), Institute for Technology and Innovation Management.
  2. Horbach, Jens & Chen, Qian & Rennings, Klaus & Vögele, Stefan, 2012. "Lead markets for clean coal technologies: A case study for China, Germany, Japan and the USA," ZEW Discussion Papers 12-063, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  3. Tiwari, Rajnish & Herstatt, Cornelius, 2012. "Frugal innovations for the 'unserved' customer: An assessment of India's attractiveness as a lead Market for cost-effective products," Working Papers 69, Hamburg University of Technology (TUHH), Institute for Technology and Innovation Management.
  4. Tiwari, Rajnish & Herstatt, Cornelius, 2013. ""Too good" to succeed? Why not just try "good enough"! Some deliberations on the prospects of frugal innovations," Working Papers 76, Hamburg University of Technology (TUHH), Institute for Technology and Innovation Management.
  5. Tiwari, Rajnish & Herstatt, Cornelius, 2012. "Open global innovation networks as enablers of frugal innovation: propositions based on evidence from India," Working Papers 72, Hamburg University of Technology (TUHH), Institute for Technology and Innovation Management.

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