IDEAS home Printed from https://ideas.repec.org/a/eee/tefoso/v135y2018icp91-98.html
   My bibliography  Save this article

Towards a higher socio-economic impact through shared understanding of product requirements in emerging markets: The case of the Indian healthcare innovations

Author

Listed:
  • Agarwal, Nivedita
  • Brem, Alexander
  • Grottke, Michael

Abstract

Emerging markets are considered to have huge economic potential, both for entrepreneurs and established firms. To foster innovation in these markets, it is important that customers and companies use the same terminology, with the same understanding of key terms. But is this really the case? Based on eight product requirements, this research empirically analyzes the perception of emerging market innovation terminologies. For this, we use the case of the Indian healthcare sector. On the one hand Voice of Customer method was used to gather the product requirements from the customers. On the other hand, Analytic Hierarchy Process technique was employed to identify the preferences for both product managers and customers. Our results confirm the high level of importance of ‘affordable value innovations’ and ‘ease of use functionality’ for new products introduced in emerging markets. Interestingly, the category ‘products with low or no maintenance or consumables’ comes high on the preference map for the customers but seems to be a blind spot from the manufacturers' perspective. This result opens opportunities for entrepreneurs focusing on new customer bases in emerging markets and also for various corporate entrepreneurship activities.

Suggested Citation

  • Agarwal, Nivedita & Brem, Alexander & Grottke, Michael, 2018. "Towards a higher socio-economic impact through shared understanding of product requirements in emerging markets: The case of the Indian healthcare innovations," Technological Forecasting and Social Change, Elsevier, vol. 135(C), pages 91-98.
    • Handle: RePEc:eee:tefoso:v:135:y:2018:i:c:p:91-98
    DOI: 10.1016/j.techfore.2018.05.016
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0040162518308138
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.techfore.2018.05.016?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Agarwal, Nivedita & Chakrabarti, Ronika & Brem, Alexander & Bocken, Nancy, 2018. "Market driving at Bottom of the Pyramid (BoP): An analysis of social enterprises from the healthcare sector," Journal of Business Research, Elsevier, vol. 86(C), pages 234-244.
    2. Joseph E. Stiglitz, 1989. "Markets and Development," NBER Working Papers 2961, National Bureau of Economic Research, Inc.
    3. Acosta, Pablo & Kim, Namsuk & Melzer, Illana & Mendoza, Ronald U. & Thelen, Nina, 2011. "Business and human development in the base of the pyramid: Exploring challenges and opportunities with market heat maps," Journal of World Business, Elsevier, vol. 46(1), pages 50-60, January.
    4. Gerard George & Anita M. McGahan & Jaideep Prabhu, 2012. "Innovation for Inclusive Growth: Towards a Theoretical Framework and a Research Agenda," Journal of Management Studies, Wiley Blackwell, vol. 49(4), pages 661-683, June.
    5. repec:bla:devpol:v:26:y:2008:i:4:p:427-458 is not listed on IDEAS
    6. Bayes, Abdul, 2001. "Infrastructure and rural development: insights from a Grameen Bank village phone initiative in Bangladesh," Agricultural Economics, Blackwell, vol. 25(2-3), pages 261-272, September.
    7. Rao, Balkrishna C., 2013. "How disruptive is frugal?," Technology in Society, Elsevier, vol. 35(1), pages 65-73.
    8. Pramodita Sharma & James J. Chrisman, 1999. "Toward a Reconciliation of the Definitional Issues in the Field of Corporate Entrepreneurship," Entrepreneurship Theory and Practice, , vol. 23(3), pages 11-28, April.
    9. V. C. S. Prasad & Vivek Ganvir, 2005. "Study Of The Principles Of Innovation For The Bop Consumer — The Case Of A Rural Water Filter," International Journal of Innovation and Technology Management (IJITM), World Scientific Publishing Co. Pte. Ltd., vol. 2(04), pages 349-366.
    10. Ted London & Stuart L Hart, 2004. "Reinventing strategies for emerging markets: beyond the transnational model," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 35(5), pages 350-370, September.
    11. Johanna Mair & Ignasi Marti & Marc Ventresca, 2012. "Building Inclusive Markets in Rural Bangladesh : How Intermediaries Work Institutional Voids," Post-Print hal-02276707, HAL.
    12. Stiglitz, Joseph E, 1989. "Markets, Market Failures, and Development," American Economic Review, American Economic Association, vol. 79(2), pages 197-203, May.
    13. Michael Fritsch, 2008. "How does new business formation affect regional development? Introduction to the special issue," Small Business Economics, Springer, vol. 30(1), pages 1-14, January.
    14. Johanna Mair & Ignasi Marti & Marc Ventresca, 2012. "Building Inclusive Markets in Rural Bangladesh : How Intermediaries Work Institutional Voids," Post-Print hal-02312706, HAL.
    15. William Lazonick, 2004. "Indigenous Innovation and Economic Development: Lessons from China's Leap into the Information Age," Industry and Innovation, Taylor & Francis Journals, vol. 11(4), pages 273-297.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Kanungo, Rama Prasad & Gupta, Suraksha, 2021. "Financial inclusion through digitalisation of services for well-being," Technological Forecasting and Social Change, Elsevier, vol. 167(C).
    2. Sakellariou, Evy & Vecchiato, Riccardo, 2022. "Foresight, sensemaking, and new product development: Constructing meanings for the future," Technological Forecasting and Social Change, Elsevier, vol. 184(C).
    3. Sarkar, Soumodip & Mateus, Sara, 2022. "Doing more with less - How frugal innovations can contribute to improving healthcare systems," Social Science & Medicine, Elsevier, vol. 306(C).
    4. Dabić, Marina & Obradović, Tena & Vlačić, Božidar & Sahasranamam, Sreevas & Paul, Justin, 2022. "Frugal innovations: A multidisciplinary review & agenda for future research," Journal of Business Research, Elsevier, vol. 142(C), pages 914-929.
    5. Erzurumlu, S. Sinan & Pachamanova, Dessislava, 2020. "Topic modeling and technology forecasting for assessing the commercial viability of healthcare innovations," Technological Forecasting and Social Change, Elsevier, vol. 156(C).
    6. Krammer, Sorin M.S. & Jiménez, Alfredo, 2020. "Do political connections matter for firm innovation? Evidence from emerging markets in Central Asia and Eastern Europe," Technological Forecasting and Social Change, Elsevier, vol. 151(C).
    7. Park, Sukyung & Rosca, Eugenia & Agarwal, Nivedita, 2022. "Driving social impact at the bottom of the Pyramid through the internet-of-things enabled frugal innovations," Technovation, Elsevier, vol. 118(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Simon Joncourt & Heiko Gebauer & Javier Reynoso & Karla Cabrera & Ana Valdes & Katharina Greve, 2019. "Extending the Base-of-the-Pyramid Concept," Service Science, INFORMS, vol. 11(3), pages 241-261, October.
    2. Rakhshanda Khan, 2016. "How Frugal Innovation Promotes Social Sustainability," Sustainability, MDPI, vol. 8(10), pages 1-29, October.
    3. Geoffrey M. Kistruck & Patrick Shulist, 2021. "Linking Management Theory with Poverty Alleviation Efforts Through Market Orchestration," Journal of Business Ethics, Springer, vol. 173(2), pages 423-446, October.
    4. Gerard George & Rekha Rao-Nicholson & Christopher Corbishley & Rahul Bansal, 2015. "Institutional entrepreneurship, governance, and poverty: Insights from emergency medical response servicesin India," Asia Pacific Journal of Management, Springer, vol. 32(1), pages 39-65, March.
    5. Addisu A. Lashitew & Somendra Narayan & Eugenia Rosca & Lydia Bals, 2022. "Creating Social Value for the ‘Base of the Pyramid’: An Integrative Review and Research Agenda," Journal of Business Ethics, Springer, vol. 178(2), pages 445-466, June.
    6. Pansera, Mario & Owen, Richard, 2015. "Framing resource-constrained innovation at the ‘bottom of the pyramid’: Insights from an ethnographic case study in rural Bangladesh," Technological Forecasting and Social Change, Elsevier, vol. 92(C), pages 300-311.
    7. Mario Pansera & Soumodip Sarkar, 2016. "Crafting Sustainable Development Solutions: Frugal Innovations of Grassroots Entrepreneurs," Sustainability, MDPI, vol. 8(1), pages 1-25, January.
    8. Smith, Adam & Judge, William & Pezeshkan, Amir & Nair, Anil, 2016. "Institutionalizing entrepreneurial expertise in subsistence economies," Journal of World Business, Elsevier, vol. 51(6), pages 910-922.
    9. Mario Pansera & Fabien Martinez, 2017. "Innovation for development and poverty reduction: an integrative literature review," Post-Print hal-02887777, HAL.
    10. Agarwal, Nivedita & Chakrabarti, Ronika & Brem, Alexander & Bocken, Nancy, 2018. "Market driving at Bottom of the Pyramid (BoP): An analysis of social enterprises from the healthcare sector," Journal of Business Research, Elsevier, vol. 86(C), pages 234-244.
    11. Mbalyohere, Charles & Lawton, Thomas & Boojihawon, Roshan & Viney, Howard, 2017. "Corporate political activity and location-based advantage: MNE responses to institutional transformation in Uganda’s electricity industry," Journal of World Business, Elsevier, vol. 52(6), pages 743-759.
    12. Liedong, Tahiru Azaaviele & Peprah, Augustine Awuah & Amartey, Abednego Okoe & Rajwani, Tazeeb, 2020. "Institutional voids and firms' resource commitment in emerging markets: A review and future research agenda," Journal of International Management, Elsevier, vol. 26(3).
    13. Josip Maric & Florence Rodhain & Yves Barlette, 2016. "Frugal innovations and 3D printing: insights from the field," Post-Print hal-01412871, HAL.
    14. Sanjay Jain, 2022. "From jugaad to jugalbandi: Understanding the changing nature of Indian innovation," Asia Pacific Journal of Management, Springer, vol. 39(1), pages 1-26, March.
    15. Kelsey M. Taylor & Eugenia Rosca, 2023. "Sink, swim, or drift: How social enterprises use supply chain social capital to balance tensions between impact and viability," Journal of Supply Chain Management, Institute for Supply Management, vol. 59(2), pages 62-86, April.
    16. Granados, Maria L. & Rosli, Ainurul & Gotsi, Manto, 2022. "Staying poor: Unpacking the process of barefoot institutional entrepreneurship failure," Journal of Business Venturing, Elsevier, vol. 37(3).
    17. María Helena Jaén & Ezequiel Reficco & Gabriel Berger, 2021. "Does Integrity Matter in BOP Ventures? The Role of Responsible Leadership in Inclusive Supply Chains," Journal of Business Ethics, Springer, vol. 173(3), pages 467-488, October.
    18. Babita Bhatt & Israr Qureshi & Christopher Sutter, 2022. "How do Intermediaries Build Inclusive Markets? The Role of the Social Context," Journal of Management Studies, Wiley Blackwell, vol. 59(4), pages 925-957, June.
    19. Sahasranamam, Sreevas & Nandakumar, M.K., 2020. "Individual capital and social entrepreneurship: Role of formal institutions," Journal of Business Research, Elsevier, vol. 107(C), pages 104-117.
    20. Stein Kristiansen, 2003. "Information Asymmetry and Economic Concentration: The case of hens and eggs in eastern Indonesia," Working Papers 03-21, Agricultural and Development Economics Division of the Food and Agriculture Organization of the United Nations (FAO - ESA).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:tefoso:v:135:y:2018:i:c:p:91-98. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.sciencedirect.com/science/journal/00401625 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.