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Do market knowledge development and external network ties matter for new product market success via exploratory and exploitative marketing capabilities?

Lookup NU author(s): Dr Nima Heirati

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Abstract

While the necessity of closing the marketing capabilities gap is an important issue, little is known about the mechanisms that enable firms create and refine marketing capabilities to market new products. Although it is suggested that market knowledge enables firms to create and refine marketing capabilities, we advance the literature by showing that the development of market knowledge through internal processes is not sole or main foundation; external ties are also required to facilitate closing the marketing capabilities gap. Data from a sample of 169 industrial firms using a multi-informant design shows that the interplay between the firm’s market knowledge development processes and its external ties provide the foundation to build exploratory and exploitative marketing capabilities to successfully market new products. We draw the attention to the different impacts that business and political ties have in helping to build exploratory and exploitative marketing capabilities. Further, we show that distinct positional advantages, differentiation and cost efficiency, help explain how exploratory and exploitative marketing capabilities may be more or less effective in driving new product success.

Publication metadata

Author(s): O'Cass A, Heirati N

Publication type: Conference Proceedings (inc. Abstract)

Publication status: Published

Conference Name: Global Marketing Conference (GMC)

Year of Conference: 2014

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