Stakeholders in Commercialization and Creating Market for Innovation

    Research output: Other conference contributionAbstractScientific

    Abstract

    Even though successful commercialization is of great importance to innovative firms, we do not yet know how diverse stakeholders can contribute to commercialization of a radical innovation that require particular market creation support. We will analyze an extreme case, a functional food i.e. a novel product category between food and medicine at global market settings. The case relies on qualitative interviews with regulatory bodies, doctors, opinion leaders, licensing partners, scientists and marketing managers and extensive secondary data. Results uncover the contributions by diverse stakeholders to commercialization and market creation. Stakeholders perform activities such as drafting new legislation and food labelling for health claims, conducting safety assessments, product development, finding out consumers’ preferences, communicating benefits of the product to several actors for adoption, and gaining the trust of healthcare professionals and patients. This study contributes to marketing and innovation management literature and generates practical advice for managers who commercialize (radical) innovations.
    Original languageEnglish
    Publication statusPublished - Dec 2018
    EventAustralian and New Zealand Marketing Academy (ANZMAC) Conference 2018 - Adelaide, Australia
    Duration: 3 Dec 20185 Dec 2018

    Conference

    ConferenceAustralian and New Zealand Marketing Academy (ANZMAC) Conference 2018
    Country/TerritoryAustralia
    CityAdelaide
    Period3/12/185/12/18

    Fingerprint

    Dive into the research topics of 'Stakeholders in Commercialization and Creating Market for Innovation'. Together they form a unique fingerprint.

    Cite this