Investigating the Effect of Innovation Strategy on Performance of New Product Development with Emphasis on the Role of value co-creation strategy (Case Study: Private Insurance Companies)

Authors

Abstract

The purpose of this study was to investigate the effect of innovation strategy on the performance of new product development, with emphasis on the value co-creation strategy in Tehran's private insurance companies. The research method is descriptive-correlational. The research community was senior managers in five areas of insurance (liability, fire, automobile, freight and machinery) in the city of Tehran, which included 100 people. In this research, random sampling method was used, 80 managers were selected as sample. Data were collected through a standard questionnaire 48 questions from 79 managers and experts in 17 active companies in the insurance industry in Tehran. Validity of the research questionnaire was confirmed by the experts and reliability of the questionnaires was confirmed based on Cronbach's alpha coefficient. The conceptual model was designed with five variables and ten hypotheses. Descriptive statistics were analyzed by SPSS-24 software and statistical characteristics such as frequency, percentage, mean and standard deviation, tables and charts were presented and then SMART-PLS software was used to test the hypotheses. The results of the research including path coefficients between variables and the significance of t (β = 0.436 t = 4.63) and intermediary effect analysis have shown that there is a significant and direct relationship between the innovation strategy and the performance of the new product development and the role of mediation in the value co-creation strategy Not verified. Also, the impact of mediation between the two variables of design strategy and marketing strategy is not confirmed by the relationship between the innovation strategy and the performance of the new product development.

Keywords

References

  1. Yi, Y., & Gong, T. (2013). Customer value co-creation behavior: Scale development and validation. Journal of Business Research, 66(9), 1279–1284.
  2. Potts, J., Cunningham, S., Hartley, J., & Ormerod, P. (2008). Social network markets: A new definition of the creative industries. Journal of Cultural Economics, 32(3), 167–185.
  3. دهقانی پوده، حسین، اخوان، پیمان و حسینی سرخوش، سیدمهدی– افزایش موفقیت توسعه ی محصول جدید مبتنی بر رویکرد نوآوری باز  (فصلنامه علمی پژوهشی مدیریت نوآوری)، 1392، شماره ۲. صص ۶۸-۴۵.
  4. میر فخرالدین سید حیدر ، شعبانی اکرم ،مقاله مشارکت مشتری در توسعه محصول ،(هارتلی 2006) ، فصلنا مه مدیریت توسعه فناوری ، دوره سوم ، شماره یک ، تابستان 1394 ، ص 128.
  5. سلیمی، محمدحسین و محسن نصیری، ۱۳۸۶، مدل استراتژی نوآوری محصول و تأثیر جهانی شدن تحقیق و توسعه برآن،ششمین همایش مراکز تحقیق و توسعه صنایع و معادن، تهران،انجمن تخصصی مراکز تحقیق وتوسعه صنایع ومعادن:

https://www.civilica.com/Paper-CIMRDC06-CIMRDC06_089.html

  1. Corbett, A.C., Neck, H.M. & DeTienne, D.R. (2007). How corporate entrepreneurs learn from fledgling innovation initiatives: Cognition and the development of a termination script. Entrepreneurship Theory and  Practice, November, PP. 829-52.
  2. Cooper, R. G., & Kleinschmidt, E. J. (2007). Winning businesses in product development: the critical success factors. Research Technology Management, 50(3).
  3. Merz, M. A., He, Y., & Vargo, S. L. (2009). The evolving brand logic: A service-dominant logic perspective. Journal of the Academy of Marketing Science, 37(3), 328–344.
  4. Ramaswamy, V., & Ozcan, K. (2016). Brand value co-creation in a digitalized world: An integrative framework and research implications. International Journal of Research in Marketing, 33(1), 93–106.
  5. Ranjan, K. R., & Read, S. (2016). Value co-creation: Concept and measurement. Journal of the Academy of Marketing Science. 44, 290–315.
  6. Vargo, S. L., & Lusch, R. F. (2008). Service-dominant logic: Continuing the evolution. Journal of the Academy of Marketing Science, 36(1), 1–10.
  7. Boston, MA: Harvard Business School Press.
  8. Boston, T.D; Boston, L.R. (2007). Secrets of gazelles: The differences between high-growth and low-growth business owned by african american entrepreneurs. The Annals of the American Academy of Political and Social Science. No. 613, PP. 108-130.
  9. Praxnikar, J., kerlj, T. (2006). New product development process and timeto-market in the generic pharmaceutical industry. Industrial Marketing No. 35, PP. 690-702.
  10. Hienerth, C. (2006). The commercialization of user innovations: The development of the rodeo kayak industry. R&D Management. No. 36(3), 273-294
  11. Augusto, M., & Coelho, F. (2007). Market orientation and new-to-the-world products: Exploring the moderating effects of innovativeness,competitive strength, and environmental forces. Industrial Marketing Management, No. 38(1), PP. 1-15.
  12. Chu, C., Li, C., Lin, C. (2011). The joint effect of project-level exploratory and exploitative learning in new product development. European Journal of Marketing. No. 45(4), PP. 531-550.
  13. Hsu, Y., Fang, W. (2009). Intellectual capital and new product development performance: The mediating role of organizational learning capability. Technological Forecasting & Social Change. No. 76, PP. 664-677.
  14. طالعی فر ، حاتمی نسب ، فصلنامه چشم انداز مدیریت بازرگانی-شماره 26 - تابستان 1395،ص18.
  15. Potts, J., Cunningham, S., Hartley, J., & Ormerod, P. (2008). Social network markets: A new definition of the creative industries. Journal of Cultural Economics, 32(3), 167–185.
  16. میر فخرالدین سید حیدر ، شعبانی اکرم ،مقاله مشارکت مشتری در توسعه محصول ،(هارتلی 2006) ، فصلنا مه مدیریت توسعه فناوری ، دوره سوم ، شماره یک ، تابستان 1394 ، ص 128
  17. Prahalad, C. K., & Ramaswamy, V. (2004). Co-creation experiences: The next practice in value creation. Journal of Interactive Marketing, 18(3), 5–14.
  18. Vargo, S. L., & Lusch, R. F. (2004). Evolving to a new dominant logic for marketing. Journal of Marketing, 68(1), 1–17.
  19. Ramaswamy, V., & Ozcan, K. (2016). Brand value co-creation in a digitalized world: An integrative framework and research implications. International Journal of Research in Marketing, 33(1), 93–106.
  20. Merz, M. A., He, Y., & Vargo, S. L. (2009). The evolving brand logic: A service-dominant logic perspective. Journal of the Academy of Marketing Science, 37(3), 328–344.
  21. Vargo, S. L., & Lusch, R. F. (2016). Institutions and axioms: An extension and update of service-dominant logic. Journal of the Academy of Marketing Science, 44, 5–23.
  22. Harmeling, C. M., Moffett, J. W., Arnold, M. J., & Carlson, B. D. (2017). Toward a theory of customer engagement marketing. Journal of the Academy of Marketing Science, 1–24.
  23. Vargo, S. L., & Lusch, R. F. (2016). Institutions and axioms: An extension and update of service-dominant logic. Journal of the Academy of Marketing Science, 44, 5–23.
  24. Fournier, S. M. (1998). Consumers and their brands: Developing relationship theory in consumer research. Journal of Consumer Research, 24(4), 343–374.
  25. Harmeling, C. M., Moffett, J. W., Arnold, M. J., & Carlson, B. D. (2017). Toward a theory of customer engagement marketing. Journal of the Academy of Marketing Science, 1–24.
  26. Barney, J., & Arikan, A. (2001). The resource-based view: Origins and implications. In M. Hitt, R. Freeman, & J. Harrison (Eds.). Handbook of strategic management (pp. 124–185). Oxford: Blackwell.
  27. Fournier, S. M. (1998). Consumers and their brands: Developing relationship theory in consumer research. Journal of Consumer Research, 24(4), 343–374.
  28. Hsieh, S. H., & Chang, A. (2016). The psychological mechanism of brand co-creation engagement. Journal of Interactive Marketing, 33, 13–26.
  29. Mamat, M., Haron, M. S., Syafiah, N., & Razak, A. (2014). ScienceDirect Personal Interaction Encounter, Customer Involvement, Familiarity and Customer Service Experience in Malaysian Public Universities. Procedia -Social and Behavioral Sciences, 130, 293–298.
  30. Karkkainen, H., Piippo, P., & Tuominen, M. (2001). Ten tools for customerdriven product development in industrial companies. International Journal of Production …, 69(2), 161–176. Retrieved from

http://www.sciencedirect.com/science/article/pii/S092552730000030X

  1. Oskarsson, S., & Chernetska, D. (2012). WIND OF CHANGE: A NEW WAY OFCUSTOMER INVOLVEMENT. Halmstad University, School of Business and Engineering, Management of Innovation & Business Development Examiner.
  2. Sun, H., Yau, H. K., & Suen, E. K. M. (2010). The simultaneous impact of supplier and customer involvement on new product performance. Journal of Technology Management and Innovation, 5(4), 70–82.
  3. Fatimaezzahra Fouad, Amina Tourabi, Ghizlane Lakhnati,(2018) "The innovation process impact on the new product performance: a case study", International Journal of Innovation Science, Vol. 10 Issue: 3, pp.385-412.
  4. Hsieh, S. H., & Chang, A. (2016). The psychological mechanism of brand co-creation engagement. Journal of Interactive Marketing, 33, 13–26.

40- قاسمی، محمد؛ بیگی‌راد، الهام؛ مارگیر، علی؛ شیخیان، محسن. (1396). بررسی نقش نوآوری استراتژیک و نوآوری باز بر عملکرد شرکتهای فعال در منطقه ویژه اقتصادی بوشهر. پژوهش‌های مدیریت عمومی، سال دهم، شماره38، ص 249-

Commercial Strategies
Volume 16, Issue 14
March 2020
Pages 155-180

Files

Share

How to cite

Statistics