Abstract

Innovation in products and services is seen by scholars, by specialized media in management, and by some managers as the main currency in modern economies. This is because it allows high average market profits, fame for innovators, or brand growth, for example. However, in practice, most managers still treat innovation as a secondary issue on their agendas. This problem results from the inability of market professionals to analyze people inside and outside their companies. It is not possible to develop innovative products in a systematic way without treating this point effectively. Moreover, in this process, creativity is a necessary, but not necessarily sufficient, condition to be fulfilled and requires behavioral transformation. In this context, it is believed that behavioral economics can make a sufficient contribution in the form of an analytical marketing tool by offering an analysis closer to human beings' reality, and, thus, allow a better understanding of people's behavior in the process of innovation in the market.

Full Text
Paper version not known

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.