Hu, Yansong and McLoughlin, Damien. (2012) Creating new market for industrial services in nascent fields. Journal of Services Marketing, Vol.26 (No.5). pp. 322-331. ISSN 0887-6045

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Abstract

Purpose – In recent years, industrial firms have been moving from selling pure products to selling smart services. Yet limited empirical evidence exists about how the new markets for these novel services are created. This paper seeks to extend current theory and create new insights by studying the new services market creation process in nascent industrial fields. Design/methodology/approach – The authors' research design is a multiple-case, inductive study that uses in-depth archival and field data to track closely how five industrial firms created new market for new types of services. Findings – The authors find that firms adopt a holistic initiative to address the challenges in new services market creation. In particular, they use three interrelated strategies to create a new market: co-creating with customers, innovating in different ways and exploiting institutional forces. Research limitations/implications – The study focused only on life science research services. Moreover, in-depth field interviews were used only in a small number of firms. Practical implications – To successfully develop a new market for an industrial service innovation, a firm should innovate within and outside the firm, win over customers for adopting, adapting the service innovation and identifying its new uses, and utilize institutional mechanisms to legitimatize, claim and control the emerging market. Originality/value – This paper's central contribution is a holistic framework of the longitudinal processes by which successful firms develop new services and construct new markets.

Item Type:	Journal Article
Divisions:	Faculty of Social Sciences > Warwick Business School > Marketing & Strategic Management Faculty of Social Sciences > Warwick Business School
Journal or Publication Title:	Journal of Services Marketing
Publisher:	Emerald Group Publishing Ltd
ISSN:	0887-6045
Date:	2012
Volume:	Vol.26
Number:	No.5
Page Range:	pp. 322-331
Identification Number:	10.1108/08876041211245218
Status:	Peer Reviewed
Publication Status:	Published
Access rights to Published version:	Restricted or Subscription Access
URI:	http://wrap.warwick.ac.uk/id/eprint/49998

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