Date of Award
2017
Degree Name
Doctor of Philosophy (College of Business)
Schools and Centres
Business
First Supervisor
Professor Helene de Burgh-Woodman
Abstract
This thesis encompasses a body of research which looks to explore how strategic management, consumer value and product innovation interrelate. In particular, this research will evaluate such a unilateral relationship in specific reference to product innovations developed as a result of emerging and disruptive technology. Therefore, this research will be conducted in the context of the Australian electric vehicle industry. This industry was selected as it has displayed traits of an industry with companies that have a desire to incorporate electric vehicle product innovations into their portfolio from a strategic perspective; yet these product innovations have no particular consumer demand or consumer value.
Therefore, the relevance of this research is to identify the interoperability of strategy, innovation and value in order to deliver upon the strategic initiatives of a firm while delivering a valuable product to the consumer. All this must be encapsulated within a competitive environment and with reference to technological feasibility.
The literature review will identify a gap in knowledge: there is no clear theoretical understanding of how strategic management, product innovation and consumer value interrelate. Subsequently, the research methodology will take a qualitative approach by conducting interviews with both managers and consumers on the subject matter of electric vehicles as a new product innovation. There will be a combination of content and thematic analysis of the data; this will additionally be triangulated against secondary data sources such as business literature in order to serve the principles of validation.
Subsequently, the analysis of the research data will present several themes across strategy, innovation and value, which both managers and consumers consistently identify. However, by analysing the depth of themes, a clear separation will be uncovered between management perspectives and consumer perspectives in reference to electric vehicle product innovations.
As a result, the discussion of the research will present a requirement for the strands of strategy, innovation and value to be closer aligned in theory and in practice. The thesis will explore how a closer alignment of these strands is not possible under current value-based models, such as the value chain; particularly when discussing radical product innovations that emerge as a result of new and disruptive technology.
Therefore we will introduce a new value-based theory, termed here the Value Paradigm. This value paradigm will be presented as a new theoretical contribution underpinning that, in the context of new markets formed under greenfield principles, that a closer alignment between strategy, innovation and value is necessary to ensure market success.
Such an alignment is predicated on considering the concurrency of influences between strategy, innovation and value. The value paradigm is fundamentally different to other value-based models as it moves away from a traditional linear approach to creating value and incorporates a far more integrated and non-linear approach. Its application is not exclusive to the subject matter of electric vehicles and has a broad theoretical relevance to any innovation-based industry, which is increasingly becoming every industry.
Publication Details
Koehler, B. (2017). Strategically Managing Product Innovation to Create Consumer Value: An Analysis in the Context of the Australian Electric Vehicle Market [Doctor of Philosophy (College of Business)]. The University of Notre Dame Australia. https://researchonline.nd.edu.au/theses/374