Wharton-SMU Research Centre

Guest Speaker:

Johannes M. Pennings , Marie and Joseph Melone Professor of Management, The Wharton School, University of Pennsylvania

Date & Venue:
Date: 26 October 2007, Friday
Time: 12.00pm - 1.20pm
Venue: Seminar Room 2.3 (Room No: 2004), Level 2
Lee Kong Chian School of Business, Singapore Management University
50 Stamford Road, Singapore 178899
( Location Map )

Topic:
Innovation And Strategic Renewal in Mature Markets: A Study Of The Tennis Racket Industry

Abstract:
This paper presents a study of the tennis racket industry as a mature market where numerous new product designs have been introduced. The inquiry examines these novel designs by firms as a manifestation of strategic renewal, under the assumption that innovations are not confined to the development, production, and launch of a new product, but include also organizational communication inducing shifts in consumer attitudes and behavior. In essence, we explore the process by which the industry transforms through strategic actions by its innovating firms. We show that innovators bundle their launching of new products with marketing activities including product endorsement by highly visible professional players and advertising. Accordingly, they influence the consumer preference formation process, trigger imitative reactions among its peer firms and sway the market towards a new design that eventually becomes a new standard. The results indicate that innovators should actively manage various participants in the industry as integral part of their strategic renewal efforts, and even more so when considering their rivalry towards me-too peers. We suggest that future research on strategic renewal should incorporate relationships between firm and consumer.

Registration:
All are welcome. Seats are limited, please register early to avoid disappointment. (Simple lunch will be provided)
To sign up for this free event, please register online (click here)
Registration closes on 25 October 2007, Thursday

Enquiries:
Ms. Dione Ng
Email: dioneng@smu.edu.sg , Tel: 6828-0803
Ms. Lim Lih Yeng
Email: lylim@smu.edu.sg , Tel: 6828-0197
Ms. Rozana Bte Osman
Email: rozanaosman@smu.edu.sg , Tel: 6828-0802