BOTTOM-UP STRATEGIES IN CONSUMER-LED MARKETS

Journal of Product Innovation Management

Different views exist in the literature regarding which adopter group to target with a go-to-market strategy: early market consumers or consumers in the majority market. Particularly when radical innovations are launched, the approach to the market becomes a critical success factor for firms seeking to recoup their significant investments in these innovation endeavors. Four experimental studies investigate whether and how to differentiate the design of go-to-market strategies, represented as bundles of marketing mix elements consisting of brand name, launch price, message content, and distribution intensity, for different consumer groups. Using the concept of consumer innovativeness, this study distinguishes between the early market of innovative consumers and the majority market populated by consumers low in innovativeness. Applying a signaling framework, the results indicate that the early market can be targeted with a go-to-market strategy signaling exclusive innovativeness; the majority market should be approached with a strategy signaling security. Further, at a signal vehicle level using specific marketing mix elements, the study demonstrates the relevance of adapting the go-to-market strategy for a radical innovation with regard to message content, distribution intensity, and launch price in line with consumer innovativeness. The results also indicate that the adaptation of the two signals and their signal vehicles to the targeted consumer markets is generally not necessary for incremental innovations. The authors discuss the implications of their study for future research and provide managers with recipes of go-to-market strategies for radical innovations when targeting consumers in the early versus majority market.

Emerging theories of consumer-driven market innovation, adoption, and diffusion: A selective review of consumer-oriented studies, 2020

In this study, we argue for a redefining of the consumer's role in market innovation and suggest new patterns of consumer adoption and diffusion of market innovations. In studying the consumer-oriented literature, we identify and compare three underlying market innovation logics: (1) the incumbent legitimator logic, where market innovation is about established providers' expansion or creation of new markets through collaboration with external stakeholder groups, (2) the consumer activist logic, where market innovations are created as a result of market activism from consumers, and (3) the market co-creator logic, where markets are expanded or created through institutional change initiated by providers' and consumers' co-creation practices. Through examples from the digitalisation of local food markets, we discuss managerial implications of using each of the three market innovation logics as a perspective-taking lens.

This Research Study looks at various innovative marketing strategies used by our top most companies .Marketing strategies is a long term, forward looking approach to planning with the fundamental goal achieving a sustainable competitive advantage. Overall approach of this paper is to create a link between growth rate of companies and new marketing strategies. Good marketing is no accident, It is both an art and a science and it results from careful planning and execution using state-of-the-art tools and strategies. So, marketing is and about the importance of understanding consumers and the marketplace environment. At Present-" CONSUMERS ARE KING " – understanding consumers' needs and desires are necessary for every company .Marketing Strategies boils down to questions like which customers will we serve, How will we serve them? The tough part is coming up with good answers to these simple-sounding but difficult questions. The goal of marketing strategies is to create more value for the customers than competitors .In this study, its found that innovative marketing strategies have great role in companies success like: APPLE , V-MART, AMAZON , PATANJALI –whose names are enough to show their place in market .The Findings of this paper may be useful for readers to gain more knowledge about various companies with different marketing strategies and helpful to find more innovative marketing strategies.

Journal of the Academy of Marketing Science, 2016

Emerald Group Publishing Limited, 2024

Purpose-This paper aims to identify the combination of innovation determinants driving the creation of innovative products amongst market leaders and market followers in food and beverage (F&B) firms. Design/methodology/approach-This research is based on the case study methodology by using two types of data sources: (1) semi-structured interviews with industry experts and (2) in-depth interviews with managers. In addition, a questionnaire adapted from prior research was used to consider market and firm types. Findings-Suggesting an integrated theoretical framework based on firm-based factors and market-based factors, this study identified a combination of determinants significantly impacting innovative products in the market. Specifically, these determinants are competition intensity and innovation capability (a combination of research and development (R&D) investment and marketing capabilities). The study also examined how these determinants vary depending on whether the firms are market leaders or market followers. Practical implications-This research provides practical insights for managers working in the F&B industry by using case studies and exploring the determinants of developing innovative products. In doing so, suitable strategies can be selected according to the market and firm situations. Originality/value-The originality of the study is shown by focussing on how different combinations of market and firm factors could be applied in creating successful innovative products in the food sector.

Journal of Management Studies, 1986

The current tendency to move decision making closer to those concerned with implementing decisions in order to make use of their local market and customer knowledge is timely, particularly in relation to marketing strategy. This tendency is reflected both in the shift away from broad strategic analysis and towards encouraging strategic thinking throughout the organization; and in the emergence of more decentralized strategy development through structural innovations such as Strategic Business Units.For the manager-in-the-middle who has historically had the task of relating the broad corporate strategies to the detail of delivering products and services to the customer, this shift in emphasis creates new stresses, for it is not possible for him to assume, even in the most established consumer goods companies, that the strategic development of such activities can be construed within the traditional marketing mix (4Ps) framework. Under such circumstances, he needs a framework which enables him to take account of the crucial interactions going on within the market's infrastructure itself between customers, competition and channels (3Cs).If the manager-in-the-middle is then to be effective in responding to his increasingly complex responsibilities in relation to such markets, he must also be given the ability to manage the micro-organizational context within which he delivers products and services. This micro-organizational context is crucial because it determines the quality of the relationship that can be sustained with the customer. The higher the quality of the relationship, the tighter the coupling that can be maintained with the local market. Such tight coupling makes the relationship with the customer more defensible against competition. It therefore provides the basis for sustaining and developing the profitability of value-adding products and services so necessary to long term corporate survival.

Journal of Business Economics and Management, 2012

Recognising the greater variety and sophistication of product innovation strategies to target existing and previously untapped markets, the author presents an extended version of the Ansoff product-market expansion grid that highlights the different approaches for developed world and emerging markets. The proposed model consists of seven distinct categories of growth options and depicts alternative strategic possibilities within each category, where appropriate. Categories that are new to the matrix include resource-constrained innovation, necessity innovation and reverse innovation. Necessity innovation is a new concept and a special case of user-innovation, defined as innovation by resource-constrained consumers in emerging markets to serve their own unmet needs. Utilising recent industry examples from a variety of media, the author demonstrates the traits of each strategic approach to grow revenue streams through product-market innovation.

Strategic Change Journal, 2013

If brand orientation is used as a strategy ensuring the “relative advantage” attribute of an innovation in the “bottom of the pyramid” market, it may influence the adoption of an innovation in the developing and emerging economies.