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Demand-side inertia factors and their benefits for innovativeness

机译:需求侧惯性因素及其对创新的好处

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Inertia reflects a firm’s inability to change or innovate and may be fostered by many sources. Though researchers have focused on internal inertia factors, we examine inertia factors within a firm’s customer base: switching costs, customer preference stability, and network externalities. New products at 279 firms are examined to assess the role of these demand-side inertia factors in determining innovativeness and, ultimately, financial performance. The inertia factors are hypothesized to have differential innovativeness effects for early and late entrants. Overall, demand-side factors affect innovativeness positively, contrasting with firm-based factors (e.g., routines or assets), which typically inhibit innovativeness. Consumer preference stability is the only factor negatively related to innovativeness, though only for early entrants. Network externalities and switching costs increase innovativeness (particularly for early entrants). Demand-side inertia factors are critical determinants of innovativeness and may now be placed within the previously internally focused set of factors engendering early mover advantage.
机译:惯性反映了企业无力改变或创新,可能会受到许多因素的影响。尽管研究人员专注于内部惯性因素,但我们研究了公司客户群中的惯性因素:转换成本,客户偏好稳定性和网络外部性。检查了279家公司的新产品,以评估这些需求侧惯性因素在确定创新性以及最终确定财务绩效中的作用。假设惯性因素对早期和晚期进入者具有不同的创新作用。总体而言,需求方面的因素对创新性产生积极影响,而企业方面的因素(例如常规或资产)则通常会抑制创新。消费者偏好稳定性是与创新性负相关的唯一因素,尽管仅对于早期进入者而言。网络外部性和交换成本提高了创新性(尤其是对于早期进入者)。需求侧惯性因素是创新性的关键决定因素,现在可以放在先前内部关注的一系列因素中,这些因素可带来早期推动者的优势。

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