Abstract
This study evaluates two traditional methods of segmenting industrial markets based on firm innovativeness. There are two distinct innovativeness measures used in the literature. The first innovativeness measure is based on the time of adoption of a single product. Segmenting an industrial market based in this measure was found to be predictive of a firm's relative time of adoption of related products. The second innovativeness measure is based on the usage of multiple products at a single point in time. Segmentation based on this measure captured the degree of adoption or usage of a new product. However, neither of these measures captured both the time of adoption and the degree of adoption constructs of innovativeness. Therefore, a third innovativeness measure is proposed here which is a hybrid of the two traditional measures. This composite measure captured both innovativeness constructs.
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