Abstract
The study provides a detailed analysis of high impact to market innovations, without sorting whether these are innovations of low or high technological progress. The research base sample includes a detailed analysis of 58 consumer product innovations that reached a high market impact over the period 2014–2017, i.e. the consumers purchased them considerably more than other innovations. The study examines the components of these innovations in detail; they are also grouped into 4 basic groups. It is concluded in the study that the high impact to market innovations are made up of recurring 34 components. The study also concludes that the open innovation components only partly overlap with the innovation components that have been studied so far on the level of both micro and macro innovation eco-systems.
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Notes
- 1.
Various sources of market research (OECD, Nielsen, Euromonitor International, MarketLine, etc.), depending on the type of industry, report different percentages of high impact to market innovations that become medium and long-term market participants. Depending on the source and industry size, in the studies available to the authors, this number varies between 3% and 14% of the total number of innovations released in the market within a given period.
- 2.
Nielsen is an international market research company specialised in the detailed monitoring of product sales results in retail trade. Every year, Nielsen compiles a list of the most commercially successful innovations in the world, identifying each year’s most commercially successful innovations.
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Salkovska, J. et al. (2020). Four Conceptual Perspectives of Innovation Components. In: Kantola, J., Nazir, S. (eds) Advances in Human Factors, Business Management and Leadership. AHFE 2019. Advances in Intelligent Systems and Computing, vol 961. Springer, Cham. https://doi.org/10.1007/978-3-030-20154-8_7
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