Synergistic innovation mechanism based on industry life cycle

Abstract

Development of an industry is dependent on its innovation, while the industry innovation must rely on the collaborative interaction of product innovation, process innovation and market innovation. In different stages of an industry life cycle product innovation, process innovation and market innovation have different synergy mechanisms, mainly for different innovation frequencies and degrees. In the introduction stage of industry product innovation is dominant, market innovation supportive and process innovation subsidiary. In the growth stage product innovation, process innovation and market innovation show much closer synergy. In the maturity stage market innovation becomes the mainstream compared with the market and process innovations. In the decline stage process innovation and market innovations are paid more attention to the transition so as to make good preparation for the entrance to other industries.