Abstract
This study aims to determine innovation capacity of a firm and to investigate the correlations between performance outcomes and innovation types. In this study, a questionnaire-based survey was conducted to classify firms with respect to different novelty degrees of innovation activities in developing new products and the magnitude of market impact shortly after innovations have been introduced and then appraise the association between innovation types and performance outcomes. The data obtained from the Turkish industrial clusters show that the higher firm innovativeness in product and market with a wide-spread diffusion effect of innovations, the greater is the market and production performance. To the best of our knowledge, this study is one of the few studies applying the product-market growth matrix to determine/manage innovation portfolio of firms.
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