Exploration of the relationship between market information resource and new product development

: The role of strategic orientation as an integrating mechanism in micro and small firms

Abstract

Research has shown a firm’s strategic orientation can impact its performance, especially in a hostile or difficult environment. The agri-food industry in Northern Ireland is facing pressures with unstable markets, increased taxation and increased competition. The adverse impact of environmental hostility may present an even greater threat to small firms due to their limited resource bases and relative inabilities to survive the consequences of poor strategic decisions. The practice of new product development is a complex but necessary one in sectors such as fast moving consumer goods. This environment experiences constant changes in consumer attitudes and trends. Because of this, retailers and their purchasing departments are continually seeking innovation from food firms in order to remain in line with consumers wants and needs. Research has shown that new product development can help sustain a competitive advantage. This research aims to investigate the role of strategic orientation as an integrating mechanism with market information resource and its effect on new product development. Previous research has engaged in theoretical explanations around the performance outcomes of strategic orientations based on firms deploying similar strategies. However, an empirical examination into the role of market information resource and the integrating properties of strategic orientation and combinations of these orientations is yet to receive attention. Further, much research conducted to date has focussed on strategic orientation’s role within large enterprise; little attention has been given to micro or small firms regarding this subject. Overall, the major contribution of this study is to offer a link between market information resource and strategic orientations or combinations of these strategic orientations whilst striving to understand their effects on new product development processes.

Date of Award	Jul 2020
Original language	English
Awarding Institution	Queen's University Belfast
Sponsors	Invest Northern Ireland & Department of Agriculture, Environment and Rural Affairs
Supervisor	Geoff Simmons (Supervisor) & Hilary Downey (Supervisor)