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Multimarket competition and innovation in industrial markets: Spain and Colombia in comparative perspective

Multimarket competition and innovation in industrial markets: Spain and Colombia in comparative... PurposeMultimarket competition is an area of competitive dynamics focused on studying situations where firms compete against each other simultaneously in more than one market. The intensity of competition depends on the aggressiveness and the market contingencies, influencing the competitive strategies. Particularly, the purpose of this paper is to explore the influence of multimarket competition and market contingencies on innovation.Design/methodology/approachAn exploratory qualitative approach using the Grounded Theory is applied with conceptual purposes. The data were collected through in-depth semi-structured interviews and additional observations with senior strategies and decision-makers. The paper follows an extensive narrative to understand decision-taking processes on competitive strategy with the support of analytical software. The paper was performed in the automotive components industry making seats in two different countries to acknowledge the influence of market contingencies.FindingsThe results suggest that multimarket competition does not reduce the level of aggressiveness, but it offers a background that favors opportunities for companies and new business in circumstances of crisis associated to innovation. Depending on the market contingencies, strategies can foster a higher technological innovation, in those cases of high development in the industry, or diversification, when the development is lower.Originality/valueThis paper contributes to enrich multimarket competition theory with the study of innovation strategies in different market conditions, a topic not much explored in multimarket literature. Additionally, it suggests implications for managers attending to different market contingencies. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Business & Industrial Marketing Emerald Publishing

Multimarket competition and innovation in industrial markets: Spain and Colombia in comparative perspective

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Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
0885-8624
DOI
10.1108/JBIM-01-2019-0043
Publisher site
See Article on Publisher Site

Abstract

PurposeMultimarket competition is an area of competitive dynamics focused on studying situations where firms compete against each other simultaneously in more than one market. The intensity of competition depends on the aggressiveness and the market contingencies, influencing the competitive strategies. Particularly, the purpose of this paper is to explore the influence of multimarket competition and market contingencies on innovation.Design/methodology/approachAn exploratory qualitative approach using the Grounded Theory is applied with conceptual purposes. The data were collected through in-depth semi-structured interviews and additional observations with senior strategies and decision-makers. The paper follows an extensive narrative to understand decision-taking processes on competitive strategy with the support of analytical software. The paper was performed in the automotive components industry making seats in two different countries to acknowledge the influence of market contingencies.FindingsThe results suggest that multimarket competition does not reduce the level of aggressiveness, but it offers a background that favors opportunities for companies and new business in circumstances of crisis associated to innovation. Depending on the market contingencies, strategies can foster a higher technological innovation, in those cases of high development in the industry, or diversification, when the development is lower.Originality/valueThis paper contributes to enrich multimarket competition theory with the study of innovation strategies in different market conditions, a topic not much explored in multimarket literature. Additionally, it suggests implications for managers attending to different market contingencies.

Journal

Journal of Business & Industrial MarketingEmerald Publishing

Published: Jul 13, 2019

References

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