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Understanding International Product Strategy in Multinational Corporations Through New Product Development Approaches and Evolution

In: Managing Innovation Internationalization of Innovation

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  • Yang Liu
  • Yongjiang Shi

Abstract

International product strategy regarding global standardisation and local adaptation is one of the challenges faced by multinational corporations (MNCs). Studies in this area have tested the antecedents and consequences of standardisation/adaptation, but lack a new product development (NPD) perspective. In this study, we explore how product standardisation/adaptation is determined in the NPD context. Through a qualitative case study of four MNCs, we found three NPD approaches: multi-local, adaptation-based and platform-based. We analysed the advantages and challenges of each approach. In addition, we reveal how the factors (development of information and communication technology, competition pressure, brand awareness and technical capability) could influence the choice of a certain NPD approach. We draw implications on the paths to ensuring full leveraging of the benefits of a platform-based approach.

Suggested Citation

  • Yang Liu & Yongjiang Shi, 2019. "Understanding International Product Strategy in Multinational Corporations Through New Product Development Approaches and Evolution," World Scientific Book Chapters, in: Alexander Brem & Joe Tidd & Tugrul Daim (ed.), Managing Innovation Internationalization of Innovation, chapter 2, pages 3-25, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9781786346551_0002
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    More about this item

    Keywords

    Innovation Management; Technology Management; Innovation Success; Crowd; International Innovation;
    All these keywords.

    JEL classification:

    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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