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Paths to Success: How Do Market Orientation and Entrepreneurship Orientation Produce New Product Success?
Author(s) -
Hong Jinhwan,
Song Tae Ho,
Yoo Shijin
Publication year - 2013
Publication title -
journal of product innovation management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 2.646
H-Index - 144
eISSN - 1540-5885
pISSN - 0737-6782
DOI - 10.1111/j.1540-5885.2012.00985.x
Subject(s) - market orientation , novelty , business , entrepreneurial orientation , new product development , product (mathematics) , entrepreneurship , orientation (vector space) , marketing , product innovation , industrial organization , psychology , social psychology , geometry , mathematics , finance
The purpose of this paper is to examine the relationship between strategic orientation and the performance of new products. In this paper, we develop a conceptual model that explores the roles of market orientation ( MO ) and entrepreneurship orientation ( EO ) on new product performance and seek to understand the mediating roles of process and product characteristics. Based on a survey of 471 small and medium‐sized enterprises in K orea, we found that MO and EO positively affect new product performance. The main impact of MO is through new product development proficiency and product meaningfulness and that of EO is through proficient intellectual property management and product novelty. Academic and managerial implications are also discussed.