Differences in Commercialization Policies of Innovations. Customer Perspective

Abstract

Abstract The last decade in particular has seen prosperity in global challenges. Traditional industry leaders have to compete with the challenges of the new generation in emerging markets. Although the European market is competitively mature, the prosperity in global challenges makes it necessary to defend the domestic market as well as to pursue growth opportunities in emerging markets. Analyzing the trends, a comparison of the US and Chinese innovation commercialization policies from a customer perspective with Europe was distinguished. The main difference is Europe's narrowly defined customer segment, companies do not adapt to customer micro-segments with non-matching product and service requirements, because individual attraction strategies must be implemented for each branch, which increase the difficulty to draw potential global clients. The aim of this work is to analyze the US and Chinese innovation commercialization process policies from a customer perspective to gain an insight into the improvement of European national policy models. A multi-criteria decision analysis was used to compare the US and European influencing factor criteria, which focuses on customer segmentation, to determine the most influential segment. Data were also collected in the analysis of the success of European commercialization. The focus on the US end-market approach is expected to increase the value of the proximity factor by improving the implementation of European innovation policy in practice.