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The impact of product features on market orientation in technology-based new ventures

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  • Zhou, Zhao
  • Verburg, Robert M.

Abstract

Little is known about the role of product features in shaping market orientation as most research focuses on organizational features, such as interdepartmental connectedness, centralization in the strategy formation process, and the nature of top management teams. In this study we draw on the theory of resource orchestration and hypothesize that the protect-ability and the scalability of new products relate positively to market orientation in technology-based new ventures. We also predict that the entrepreneurial experience of founders interacts positively with these product features in driving market orientation strategies. On the basis of original field data from 156 technology-based startups, we find support for the positive relationship between product features and market orientation and the proposed interaction. These findings contribute to the ongoing research on the antecedents of market orientation by showing how founders’ experience and product features shape the resource orchestration process within technology-based new ventures.

Suggested Citation

  • Zhou, Zhao & Verburg, Robert M., 2023. "The impact of product features on market orientation in technology-based new ventures," Journal of Business Research, Elsevier, vol. 168(C).
    • Handle: RePEc:eee:jbrese:v:168:y:2023:i:c:s0148296323005891
    DOI: 10.1016/j.jbusres.2023.114230
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    References listed on IDEAS

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    1. Raju, P.S. & Lonial, Subhash C. & Crum, Michael D., 2011. "Market orientation in the context of SMEs: A conceptual framework," Journal of Business Research, Elsevier, vol. 64(12), pages 1320-1326.
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    3. Morgan, Todd & Anokhin, Sergey Alexander, 2020. "The joint impact of entrepreneurial orientation and market orientation in new product development: Studying firm and environmental contingencies," Journal of Business Research, Elsevier, vol. 113(C), pages 129-138.
    4. Jacob Brower & Pravin Nath, 2018. "Antecedents of market orientation: marketing CEOs, CMOs, and top management team marketing experience," Marketing Letters, Springer, vol. 29(4), pages 405-419, December.
    5. Dean A. Shepherd, 1999. "Venture Capitalists' Assessment of New Venture Survival," Management Science, INFORMS, vol. 45(5), pages 621-632, May.
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    Cited by:

    1. Coviello, Nicole & Autio, Erkko & Nambisan, Satish & Patzelt, Holger & Thomas, Llewellyn D.W., 2024. "Organizational scaling, scalability, and scale-up: Definitional harmonization and a research agenda," Journal of Business Venturing, Elsevier, vol. 39(5).

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