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A Var Analysis of the Connection between FDI and Economic Growth: A Case Study from Vietnam after 30 Years Reforms

Author

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  • Jonas Jasper

    (Institute for Business-to-Busines Marketing, Münster, Germany)

Abstract

Innovations are an important factor for companies to build and sustain a competitive advantage. Even though companies generate up to 51 % of their income with products and services launched less than three years ago, the failure rate of new product development is still at around 90 %. One way to reduce the failure rate of innovations is to conduct customers’ preference measurements in the early stages of new product development processes. However, customers often display a substantial amount of uncertainty when having to evaluate highly innovative products as they may not be able to grasp its features and functionalities. Therefore, some empirical studies have already compared different presentation forms in a conjoint setting. These studies aim to optimize preference measurement results by exposing respondents to state-of-the-art product descriptions in the new product development process. Based on a quantitative-empirical analysis, this thesis contributes to this research vein by integrating virtual reality-based (VR) product representations within a conjoint setting for the measurement of preferences in the development process of a technically complex innovation. The results of this study point out that VR offers the potential for early customer integration within the new product development process.

Suggested Citation

  • Jonas Jasper, 2019. "A Var Analysis of the Connection between FDI and Economic Growth: A Case Study from Vietnam after 30 Years Reforms," International Journal of Innovation and Economic Development, Inovatus Services Ltd., vol. 4(6), pages 51-67, February.
  • Handle: RePEc:mgs:ijoied:v:4:y:2019:i:6:p:51-67
    DOI: 10.18775/ijied.1849-7551-7020.2015.46.2004
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    References listed on IDEAS

    as
    1. Rammer, Christian & Crass, Dirk & Doherr, Thorsten & Hud, Martin & Hünermund, Paul & Iferd, Younes & Köhler, Christian & Peters, Bettina & Schubert, Torben & Schwiebacher, Franz, 2015. "Innovationsverhalten der deutschen Wirtschaft: Indikatorenbericht zur Innovationserhebung 2014," The Annual German Innovation Survey, Key Figures Reports 111712, ZEW - Leibniz Centre for European Economic Research.
    2. Roland Helm & Armin Scholl & Laura Manthey & Michael Steiner, 2004. "Measuring customer preferences in new product development: comparing compositional and decompositional methods," International Journal of Product Development, Inderscience Enterprises Ltd, vol. 1(1), pages 12-29.
    3. Green, Paul E & Srinivasan, V, 1978. " Conjoint Analysis in Consumer Research: Issues and Outlook," Journal of Consumer Research, Oxford University Press, vol. 5(2), pages 103-123, Se.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Virtual reality; New product development; Conjoint analysis;

    JEL classification:

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

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