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Latecomer firms' combination of strategies in a specialized suppliers sector: A comparative case study of the Korean plastic injection molding machine industry

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  • Kwak, Kiho
  • Kim, Wonjoon
  • Kim, Karpsoo

Abstract

How do latecomer firms combine strategies to successfully grow in a specialized suppliers sector? We examine how latecomer firms combine technology and market development strategies to grow in the sector. Through an in-depth comparative case study, we found that, depending on the modularity of the technology that latecomer firms select, firms show distinctive combinations of technology and market development strategies that led to the successful growth in the sector. More specifically, the combinations spring from the selection of product architecture, followed by product development procedure, and knowledge acquisition that constitute technology development strategy and customer base management as a key activity of market development strategy. Based on the results, we introduce an analytical framework to explain two optimal combinations of technology and market development strategies corresponding to the selection of product architecture. This article provides new empirical evidence and an analytical framework for explaining an importance of optimal combinations of strategies in a latecomer firm's success.

Suggested Citation

  • Kwak, Kiho & Kim, Wonjoon & Kim, Karpsoo, 2018. "Latecomer firms' combination of strategies in a specialized suppliers sector: A comparative case study of the Korean plastic injection molding machine industry," Technological Forecasting and Social Change, Elsevier, vol. 133(C), pages 190-205.
    • Handle: RePEc:eee:tefoso:v:133:y:2018:i:c:p:190-205
    DOI: 10.1016/j.techfore.2018.04.004
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    Cited by:

    1. Zhang, Gupeng & Wang, Xiao & Duan, Hongbo & Zheng, Leven J., 2021. "How do new entrants’ pre-entry technological backgrounds impact their cross-industry innovation performances? A retrospective study of the mobile phone vendors," Technovation, Elsevier, vol. 100(C).
    2. Kwak, Kiho & Kim, Namil, 2022. "Industrial Leadership Changes without Technological Discontinuity: Modularization, Institution-Led Market Discontinuity, and Market Development Strategy," Technological Forecasting and Social Change, Elsevier, vol. 180(C).
    3. Yu, Jiang & Liu, Rui & Chen, Feng, 2020. "Linking institutional environment with technological change: The rise of China's flat panel display industry," Technological Forecasting and Social Change, Elsevier, vol. 151(C).
    4. Kwak, Kiho & Kim, Namil, 2020. "Concentrate or disperse? The relationship between major customer concentration and supplier profitability and the moderating role of insider ownership," Journal of Business Research, Elsevier, vol. 109(C), pages 648-658.

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