Global Information Lookup Global Information

Lead market information


Lead market is a term used in innovation theory and denotes a country or region, which pioneers the successful adoption of an innovative design. It sends signalling effects to other "lag" markets, which in turn helps in triggering a process of global diffusion. Marian Beise, one of the foremost propounders of this theory as it has been understood so far, states: "Innovations that have been successful with local users in lead markets have a higher potential of becoming adopted world-wide than any other design preferred in other countries".[1] Christoph Bartlett and Sumantra Ghoshal have described lead markets as "[…] markets that provide the stimuli for most global products and processes of a multinational company. Local innovations in such markets become useful elsewhere as the environmental characteristics that stimulated such innovations diffuse to other locations".[2] To illustrate a lead market with some examples, Germany can be seen as a lead market for renewable energies and (premium) automobiles, while the United States would suit as a lead market for information technologies including e-commerce.[3]

Lead markets are thought to help reduce market and technology uncertainty in the process of new product development;[4] and can be seen as an important driver for internationalization of research and development (R&D).[5]

Lead markets have been supposed to be characterized by factors such as high per capita income, high level of customer sophistication, and a competitive "eco-system".[3][6] Such factors are subsumed into 5 "groups of advantages", namely demand advantage, market structure advantage, cost advantage, export advantage, and transfer advantage.[3] Some scholars have also spoken of a regulation advantage, which emanates from favourable government policies (cf. Rennings and Smidt, 2010).[7] Nevertheless, some other scholars have pointed towards regulation's impact on all other factors. For example, Tiwari and Herstatt (2012: 100) state: "[...] we consider it appropriate, not to treat regulation as a separate group since policy factors influence all other groups of advantages and are implicitly covered by them."[8]

The theory of lead markets has been criticized for not being "consistent and stringent".[9] While conventional wisdom, due to its emphasis on customer affluence and sophistication as inducers of innovation, has tended to see lead markets exist in economically highly developed countries; recent research, notably by Rajnish Tiwari and Cornelius Herstatt of Hamburg University of Technology (e.g. Tiwari and Herstatt, 2011a, Tiwari and Herstatt, 2011b), has emphasized the need to update/extend the lead market model to adjust it to the changing ground realities in the face of globalization and sustained economic growth in developing nations. Using examples of several frugal innovations from India, and more specifically the case of small car industry in India's automotive sector, Rajnish Tiwari in his dissertation at Hamburg University of Technology (TUHH) has proposed that lead markets can emerge in developing nations as well provided the market size enables significant economies of scale and the country's innovation system is endowed with the necessary technological capabilities.[10] These two conditions, seen in conjunction with several other factors such as embeddedness in the international trade and access to open global innovation networks (OGINs),[11] can in many instances compensate other typical drawbacks of developing countries, such as low purchasing power.[10] As a consequence, Tiwari's dissertation has proposed to update the model to include technology advantage in the model, while combining the export and transfer advantages as one single group. Factors within the individual groups of advantages have been also update/modified. The evolution of India's small car sector has also provided some valuable insights into possible emergence of a lead market in a country.[10] This model, if validated by further research, would help enable an ex ante analysis of lead markets, whereas so far mostly ex post, macroeconomic analyses have been the norm.

The original lead market framework by Beise follows the a priori assumption that lead markets emerge on the national level. As this might not hold for every empirical case, research in economic geography suggests to add more spatial sensitivity to the framework. This has led to a refined version, the so-called concept of Regional Lead Markets.[12]

  1. ^ Beise, Marian (2004). "Lead Markets: Country-Specific Success Factors of the Global Diffusion of Innovations". Research Policy. 33 (6–7): 997–1018. doi:10.1016/j.respol.2004.03.003.
  2. ^ Bartlett, C., Ghoshal, S. (1990). Managing innovation in the transnational corporation,in: Bartlett et al, 'Managing the Global Firm'. London: Routledge. pp. 215–255.{{cite book}}: CS1 maint: multiple names: authors list (link)
  3. ^ a b c Beise, Marian (2001). Lead Markets: Country-Specific Success Factors of the Global Diffusion of Innovations. Heidelberg: Physica-Verlag.
  4. ^ Gerybadze, Alexander; Reger, Guido (1999). "Globalization of R&D: recent changes in the management of innovation in transnational corporations". Research Policy. 28 (2–3): 251–274. doi:10.1016/S0048-7333(98)00111-5.
  5. ^ Sachwald, F. (2008). "Location choices within global innovation networks: the case of Europe". Journal of Technology Transfer. 33 (4): 364–378. doi:10.1007/s10961-007-9057-8.
  6. ^ Jänicke, Martin; Jacob, Klaus (2004). "Lead Markets for Environmental Innovations: A New Role for the Nation State". Global Environmental Politics. 4 (1): 29–46. doi:10.1162/152638004773730202.
  7. ^ Rennings, Klaus; Smidt, Wolfgang (2010). "A Lead Market Approach Towards the Emergence and Diffusion of Coal-fired Power Plant Technology". Economica Politica. XXVII: 303–328.
  8. ^ Tiwari, Rajnish; Herstatt, Cornelius (2012). "Assessing India's lead market potential for cost-effective innovations". Journal of Indian Business Research. 4 (2): 97–115. doi:10.1108/17554191211228029.
  9. ^ Cleff, Thomas; Rennings, Klaus (2011). "Are there any first mover advantages for pioneering firms? Lead market oriented business strategies for environmental innovation". Working Paper No. 2 within the Project: Lead Markets Funded Under the BMBF Programme "WIN 2": 15.
  10. ^ a b c Tiwari, Rajnish (2013). Emergence of Lead Markets in Developing Economies: An Examination on the Basis of 'Small Car' Segment in India's Automobile Industry, Doctoral Thesis. Hamburg: Institute for Technology and Innovation Management, Hamburg University of Technology.
  11. ^ Tiwari, Rajnish; Herstatt, Cornelius (2012). "Frugal Innovation: A Global Networks' Perspective". Die Unternehmung. 66 (3): 245–274. doi:10.5771/0042-059X-2012-3-245.
  12. ^ Sebastian Losacker; Ingo Liefner. "Regional lead markets for environmental innovation". Environmental Innovation and Societal Transitions. 37: 120-139. doi:10.1016/j.eist.2020.08.003.

and 26 Related for: Lead market information

Request time (Page generated in 0.9024 seconds.)

Lead market

Last Update:

Lead market is a term used in innovation theory and denotes a country or region, which pioneers the successful adoption of an innovative design. It sends...

Word Count : 1230

Lead poisoning

Last Update:

public service campaign on it. By 2021, leaded turmeric had vanished from the Bangladeshi market, and blood lead levels in workers at turmeric mills had...

Word Count : 21171

Lead generation

Last Update:

process. The score assigned to each lead is assigned based on their level of interest, fit with the company's target market, and likelihood of becoming a paying...

Word Count : 1552

Jane Street Capital

Last Update:

markets. On any given day, Jane Street was holding about $50bn of securities. In ETFs, it is an authorised participant in 2,600 ETFs and lead market-maker...

Word Count : 706

Opinion polling for the 2024 Austrian legislative election

Last Update:

day. The next election will be held in 2024. In 2017, the Association of Market and Opinion Research Institutes of Austria (VdMI) published quality standards...

Word Count : 482

Tetraethyllead

Last Update:

(including adoption of a trading market in "lead credits" in 1982 that became the precursor of the Acid Rain Allowance Market, adopted in 1990 for SO2), but...

Word Count : 7467

Lead glass

Last Update:

Lead glass, commonly called crystal, is a variety of glass in which lead replaces the calcium content of a typical potash glass. Lead glass contains typically...

Word Count : 3897

Lead Belly

Last Update:

records for the local New York City market. He later founded Folkways Records.: 22–23  Between 1941 and 1944, Lead Belly released three albums under the...

Word Count : 5527

Lead time

Last Update:

A lead time is the latency between the initiation and completion of a process. For example, the lead time between the placement of an order and delivery...

Word Count : 2191

Stock market

Last Update:

A stock market, equity market, or share market is the aggregation of buyers and sellers of stocks (also called shares), which represent ownership claims...

Word Count : 6877

The Market for Lemons

Last Update:

to pay. This can lead to a market collapse due to the lower equilibrium price and quantity of goods traded in the market than a market with perfect information...

Word Count : 3924

Lead user

Last Update:

to the traditional market research techniques that collect information from the users at the center of the target market, the Lead User method takes a...

Word Count : 2716

Lead management

Last Update:

creating a market brand. This process has also accurately been referred to as customer acquisition management. The general principles of lead management...

Word Count : 1801

Lead climbing

Last Update:

Machine: Lead Autobelays to Hit the Market". Climbing. Retrieved 1 October 2023. Anderson, Sam (2 December 2021). "Arrested by Machines: Europe's Lead Climbing...

Word Count : 1988

Darknet market

Last Update:

darknet market is a commercial website on the dark web that operates via darknets such as Tor and I2P. They function primarily as black markets, selling...

Word Count : 8003

Marketplace

Last Update:

A marketplace, market place or just market is a location where people regularly gather for the purchase and sale of provisions, livestock, and other goods...

Word Count : 15230

Market Raja MBBS

Last Update:

Market Raja MBBS (transl. Market King MBBS) is 2019 Indian Tamil-language film written and directed by Saran and produced by S. Mohan. The film stars Arav...

Word Count : 357

Market economy

Last Update:

certain goods and services lead to higher prices and lower demand for certain goods lead to lower prices. A capitalist free-market economy is an economic...

Word Count : 6506

Market failure

Last Update:

Agents in a market can gain market power, allowing them to block other mutually beneficial gains from trade from occurring. This can lead to inefficiency...

Word Count : 4663

Lead single

Last Update:

A lead single (or first single) is the first single to be released from a studio album by an artist or a band, usually before the album itself is released...

Word Count : 834

Electricity market

Last Update:

In a broad sense, an electricity market is a system that facilitates the exchange of electricity-related goods and services. During more than a century...

Word Count : 9933

Take the Lead

Last Update:

Take the Lead is a 2006 American drama dance film directed by Liz Friedlander and starring Antonio Banderas as dance instructor Pierre Dulaine, the founder...

Word Count : 1996

VRLA battery

Last Update:

A valve regulated lead–acid (VRLA) battery, commonly known as a sealed lead–acid (SLA) battery, is a type of lead–acid battery characterized by a limited...

Word Count : 3203

Nord Lead

Last Update:

synthesis. This term became popular when the Nord Lead 1 synthesizer was introduced in to the market" Gordon Reid (1995). "Clavia Nord". Sound On Sound...

Word Count : 840

Market structure

Last Update:

factors and elements. Market structure makes it easier to understand the characteristics of diverse markets. The main body of the market is composed of suppliers...

Word Count : 2671

Pencil

Last Update:

powder mixed with a clay binder. Graphite pencils (traditionally known as "lead pencils") produce grey or black marks that are easily erased, but otherwise...

Word Count : 6125

PDF Search Engine © AllGlobal.net