Taste of success: a strategic framework for product innovation in the food and beverage industry

Malekpour, Mehrgan;Caboni, Federica;Nikzadask, Mohsen;Basile, Vincenzo

2024-01-01

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Abstract

Purpose: This paper aims to identify the combination of innovation determinants driving the creation of innovative products amongst market leaders and market followers in food and beverage (F&B) firms. Design/methodology/approach: This research is based on the case study methodology by using two types of data sources: (1) semi-structured interviews with industry experts and (2) in-depth interviews with managers. In addition, a questionnaire adapted from prior research was used to consider market and firm types. Findings: Suggesting an integrated theoretical framework based on firm-based factors and market-based factors, this study identified a combination of determinants significantly impacting innovative products in the market. Specifically, these determinants are competition intensity and innovation capability (a combination of research and development (R&D) investment and marketing capabilities). The study also examined how these determinants vary depending on whether the firms are market leaders or market followers. Practical implications: This research provides practical insights for managers working in the F&B industry by using case studies and exploring the determinants of developing innovative products. In doing so, suitable strategies can be selected according to the market and firm situations. Originality/value: The originality of the study is shown by focussing on how different combinations of market and firm factors could be applied in creating successful innovative products in the food sector.