Role of 'Lead Market' Factors in Globalization of Innovation: Emerging Evidence from India & Its Implications

Proceedings of IEEE International Technology Management Conference (IEEE-ITMC), June 27-30, 2011

12 Pages Posted: 7 Aug 2011

See all articles by Rajnish Tiwari

Rajnish Tiwari

Hamburg University of Technology (TUHH)

Cornelius Herstatt

Technical University Hamburg-Harburg (TUHH)

Date Written: August 1, 2011

Abstract

Access to “lead markets” is generally regarded as an important driver of the increasing globalization of innovation since these are considered to be early indicators for emerging customer needs. They are traditionally thought to exist in economies with high per capita income, sophisticated markets and high international visibility. We, however, propose that there is an increasing evidence of lead market tendencies in some emerging economies, e.g. India. We undertake a literature review to crystallize the need for an update/extension of the existing model to better reflect the changed ground realities and propose that factors such as voluminous markets, strong technological capabilities, and favorable government policies may be able to offset some of the disadvantages rooted in traditional deficiencies of developing economies. Engaging a developing country lead market may be useful for firms in securing better access to markets at the bottom of the economic pyramid, worldwide.

Keywords: Lead Markets, Globalization of Innovation, Global Innovation, Internationalization of R&D, Emerging Economies, Globalization, India

Suggested Citation

Tiwari, Rajnish and Herstatt, Cornelius, Role of 'Lead Market' Factors in Globalization of Innovation: Emerging Evidence from India & Its Implications (August 1, 2011). Proceedings of IEEE International Technology Management Conference (IEEE-ITMC), June 27-30, 2011. Available at SSRN: https://ssrn.com/abstract=1906466

Rajnish Tiwari (Contact Author)

Hamburg University of Technology (TUHH) ( email )

Hamburg, D-21071
Germany

HOME PAGE: http://www.global-innovation.net

Cornelius Herstatt

Technical University Hamburg-Harburg (TUHH) ( email )

Hamburg, D-21071
Germany

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