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From invention to innovation: conversion ability in product development

Chandy, Rajesh, Hopstaken, Brigitte, Narasimhan, Om and Prabhu, Jaideep (2006) From invention to innovation: conversion ability in product development. Journal of Marketing Research, 43 (3). pp. 494-508. ISSN 0022-2437

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Abstract

The ability to convert inputs into outputs is a critical determinant of success in many fields of endeavor. In this research, the authors study the ability of firms to convert ideas into products, that is, their conversion ability. Specifically, they address the question, Why are some firms better at conversion than others? In contrast to much of the existing literature, the authors propose that a strong focus on speed and on generating many ideas may actually hurt firms by lowering their conversion ability. The authors test their arguments on data between 1960 and 2001 from a cross-national sample of pharmaceutical firms. They find that firms vary widely in their ability to convert promising drug ideas into launched drugs. Firms with the highest conversion ability are those that (1) focus on a moderate number of ideas, in areas of importance, and in areas in which they have expertise and (2) deliberate for a moderate length of time on promising ideas.

Item Type: Article
Official URL: http://www.marketingpower.com/AboutAMA/Pages/AMA%2...
Additional Information: © 2006 American Marketing Association
Library of Congress subject classification: H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
Sets: Departments > Management
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 29 Oct 2012 13:56
URL: http://eprints.lse.ac.uk/47113/

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