Radical and Incremental Innovation Effectiveness in Relation to Market Orientation in the Retail Industry: Triggers, Drivers, and Supporters

Introduction

The business demands of a decentralized, networked, globalized, post-industrial environment forces enterprises to respond dynamically, and to continuously adapt their innovation style to not only prosper, but to survive. The first objective of this chapter is to evaluate the current level of technology innovation and the components of market orientation in general, and within the retail sector specifically. The second objective is to empirically investigate and discuss the link between market orientation and innovation within the context of start-up and mature companies. The final objective is to provide solutions and recommendations as to how retail companies can enhance their performance and encourage innovation. The chapter acknowledges that innovators improve competitive advantage, foster growth, and create opportunities in new markets, thus it investigates the transformation process in the growth of innovative companies by analyzing the effects of different parameters of market orientation on radical and incremental innovation. Finally, it looks at the influencing factors that change during implementation of different innovation styles.