The Role of Marketing in Developing Successful New Products in South Korea and Taiwan

X. Michael Song, Mitzi M. Montoya-Weiss, Jeffrey B. Schmidt

Research output: Contribution to journalArticle

39 Citations (Scopus)

Abstract

Developing new products is an important activity for firms in the global, competitive marketplace. While marketing plays an important role in the process of developing new products, few studies have examined marketing's role in developing new products in East Asia. This research focuses on comparing marketing's contribution to the new product development process in South Korean and Taiwanese firms. South Korea and Taiwan have rapidly expanding economies that depend heavily on foreign exchange. In addition, these two countries have successfully transformed themselves from producing mainly low-value, labor-intensive goods to producing many high-value, high-technology products that require significant marketing savvy and proficiency. In this article, a model of the interrelationships among marketing resources, skills, activities, and new product performance is developed and tested using data on 372 recently developed South Korean new products and 306 recently developed Taiwanese new products. The results generally support the model, though some interesting differences were found between the two countries. It was found that merely possessing large quantities of marketing resources is not a key to new product success. Rather, the marketing skills derived from marketing resources and the proficiency in conducting marketing activities are important for successfully developing new products in South Korean and Taiwanese firms.

Original languageEnglish (US)
Pages (from-to)47-69
Number of pages23
JournalJournal of International Marketing
Volume5
Issue number3
StatePublished - 1997
Externally publishedYes

Fingerprint

South Korea
Taiwan
New products
Marketing
Marketing resources
Foreign exchange
High technology
East Asia
New product success
Interrelationship
Marketing activities
New product performance
Labor
New product development process

ASJC Scopus subject areas

  • Business and International Management
  • Marketing
  • Economics and Econometrics

Cite this

The Role of Marketing in Developing Successful New Products in South Korea and Taiwan. / Song, X. Michael; Montoya-Weiss, Mitzi M.; Schmidt, Jeffrey B.

In: Journal of International Marketing, Vol. 5, No. 3, 1997, p. 47-69.

Research output: Contribution to journalArticle

Song, X. Michael ; Montoya-Weiss, Mitzi M. ; Schmidt, Jeffrey B. / The Role of Marketing in Developing Successful New Products in South Korea and Taiwan. In: Journal of International Marketing. 1997 ; Vol. 5, No. 3. pp. 47-69.
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