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Product Innovation Strategies: A Firm Level Analysis

Author

Listed:
  • Cemil Faruk DURMAZ

    (Department of Economics, Marmara University, Istanbul, Turkey)

  • Burcu DÜZGÜN ÖNCEL

Abstract

In this study, we examine the association between firms’ innovation process and their product quality improvement and new product introduction strategies. Our focus is on the distinction between firms’ product quality improvement and variety extension objectives. We use data from Turkish Statistical Institute (TURKSTAT) Innovation Survey between the years 2014 and 2016. According to the descriptive results, number of firms report that product quality as very important is greater than the firms report that product variety. Logit estimations results show that majority of the product variety objective and technology level indicators are significant and positively related with probability of product innovation. There is also a positive relationship between probability of product innovation and patent applications for small and medium sized firms. Moreover, probability of innovation is positively related with variety objective whereas quality objective indicators are insignificant.

Suggested Citation

  • Cemil Faruk DURMAZ & Burcu DÜZGÜN ÖNCEL, 2022. "Product Innovation Strategies: A Firm Level Analysis," Yildiz Social Science Review, Yildiz Technical University, vol. 8(1), pages 65-71.
    • Handle: RePEc:aye:journl:v:8:y:2022:i:1:p:65-71
    DOI: 10.51803/yssr.1146878
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    More about this item

    Keywords

    Innovation objectives; product innovation; logit analysisJournal: Yildiz Social Science Review;
    All these keywords.

    JEL classification:

    • F00 - International Economics - - General - - - General
    • F30 - International Economics - - International Finance - - - General
    • G00 - Financial Economics - - General - - - General
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • K00 - Law and Economics - - General - - - General (including Data Sources and Description)
    • K20 - Law and Economics - - Regulation and Business Law - - - General
    • M00 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General - - - General
    • M20 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - General
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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