Competitive advantage through product performance innovation in a competitive market

Article Abstract:

The study determined whether customers can differentiate product performance in an industry that has experienced many new product introductions by many companies. Companies usually seek competitive advantage mainly by means of product innovation and competition in such markets is based on claims of technological superiority. The study found that in most instances, customers could not determine product performance. The study also found that in the medical diagnostic ultrasound industry, it found that superior product performance does not necessarily ensure commercial success. However, technical specialists from the competing manufacturers think there are differences in the image quality of their equipment. The technical experts strongly agreed on the factors that determine product performance. These results indicate that, although ironic, product performance innovation alone may not be sufficient to form meaningful differentiation in a market in which everyone is competing by improving product performance. Companies should therefore compete in different ways: focusing on technology advances to keep pace with the changing modalities; and shifting their competitive thrust to other dimensions. Article includes a discussion on the medical diagnostic ultrasound industry, the study's hypotheses, and other conclusions.

Market Research & Product Development, Statistical Data Included, Competition (Economics), Beliefs, opinions and attitudes, Product development, Consumers, Polling Data, Attitudes

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Perspective: ranking business schools on the management of technology

Article Abstract:

A methodology to rank business schools based on the management of technology and innovation (MOT) is proposed.

Business and Secretarial Schools, Business & Secretarial Schools, Technology application, Business schools, Rankings, Ranking and selection (Statistics)

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