Track: Entrepreneurship and Innovation
Abstract
For a brand to avoid commoditization and survive, innovation that exudes outstanding originality and creates a new category is crucial. Although multifaceted research into various aspects of innovation theory has flourished in recent years, relevant empirical studies have all focused on brands with a history and, in many cases, already substantial management resources. However, as exemplified by Silicon Valley ventures, the multitude of emerging brands that suddenly sprout and prosper are faced with a pressing need to grow. Deficient in management resources and low in market recognition, these emerging brands must achieve outstanding product differentiation by competitively altering value dimensions in order to become brands that sell well despite their high prices.