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Role of "Lead Market" factors in globalization of innovation: Emerging evidence from India & its implications

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  • Tiwari, Rajnish
  • Herstatt, Cornelius
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.

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  • Tiwari, Rajnish & Herstatt, Cornelius, 2011. "Role of "Lead Market" factors in globalization of innovation: Emerging evidence from India & its implications," Working Papers 64, Hamburg University of Technology (TUHH), Institute for Technology and Innovation Management.
    • Handle: RePEc:zbw:tuhtim:64
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    References listed on IDEAS

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    Cited by:

    1. Andre Jungmittag, 2016. "Techno-Globalisierung," EIIW Discussion paper disbei221, Universitätsbibliothek Wuppertal, University Library.
    2. Cleff, Thomas & Rennings, Klaus, 2016. "Are there first mover advantages for producers of energy-efficient appliances? The case of refrigerators," Utilities Policy, Elsevier, vol. 42(C), pages 42-50.
    3. Tiwari, Rajnish & Herstatt, Cornelius, 2012. "Open global innovation networks as enablers of frugal innovation: propositions based on evidence from India," Working Papers 72, Hamburg University of Technology (TUHH), Institute for Technology and Innovation Management.
    4. Tiwari, Rajnish & Herstatt, Cornelius, 2011. "Lead market factors for global innovation: Emerging evidence from India," Working Papers 61, Hamburg University of Technology (TUHH), Institute for Technology and Innovation Management.
    5. Tiwari, Rajnish & Herstatt, Cornelius, 2012. "India - a lead market for frugal innovations? Extending the lead market theory to emerging economies," Working Papers 67, Hamburg University of Technology (TUHH), Institute for Technology and Innovation Management.
    6. Tiwari, Rajnish & Herstatt, Cornelius, 2013. ""Too good" to succeed? Why not just try "good enough"! Some deliberations on the prospects of frugal innovations," Working Papers 76, Hamburg University of Technology (TUHH), Institute for Technology and Innovation Management.
    7. Horbach, Jens & Chen, Qian & Rennings, Klaus & Vögele, Stefan, 2012. "Lead markets for clean coal technologies: A case study for China, Germany, Japan and the USA," ZEW Discussion Papers 12-063, ZEW - Leibniz Centre for European Economic Research.
    8. Binod Khadria & Ratnam Mishra, 2023. "Technological Transformation and the Role of Frugal Innovations in Entrepreneurship Development in India," Journal of Entrepreneurship and Innovation in Emerging Economies, Entrepreneurship Development Institute of India, vol. 32(2_suppl), pages 27-46, November.
    9. Tiwari, Rajnish & Herstatt, Cornelius, 2012. "Frugal innovations for the 'unserved' customer: An assessment of India's attractiveness as a lead Market for cost-effective products," Working Papers 69, Hamburg University of Technology (TUHH), Institute for Technology and Innovation Management.
    10. Andre Jungmittag, 2020. "Techno-Globalization: Theory and Empirical Analysis for OECD Countries," EIIW Discussion paper disbei278, Universitätsbibliothek Wuppertal, University Library.

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    Keywords

    Lead Markets; India; Globalization of Innovation; Internationalization of R&D; Frugal Innovations;
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