MARKET INNOVATION PROCESSES

While innovation processes in principle are recognized to have both a technological and a market dimension, and despite Schumpeter’s explicit recognition of market innovation as a particular category of innovation, innovation research has largely focused on technological aspects. The relationship between innovation and markets has been poorly investigated. Recently, the market shaping literature has put a specific focus on the on-going constitution of markets and underscores that there is scope for strategic action to alter markets, directing attention to new objects and means of innovation to be studied.