Innovation, New Product/Service Development, Product/Service Design, International Marketing
Management and performance implications of innovations in the automotive and pharmaceutical industries, development and launch of new products and services, foreign market selection, entry mode choice, adaptation to local markets
Berk Talay, Ph.D., studies strategic marketing problems related with product competition among firms along with the global co-evolution of products, companies, and industries. He is currently involved in a set of large-scale projects, which examine the drivers of new product success in different markets with particular emphasis on competition, sustainability, and portfolio management. His prior research involves the analyses of how and why innovations affect competitiveness over time, drivers of success and failure in inter-firm collaborations for new product development, and global evolution of brands. In the course of his research, Berk has worked on automotive, pharmaceutical, entertainment, and retailing industries.Talay’s work has appeared in top tier scholarly business journals such as the "Journal of International Business Studies," "Journal of the Academy of Marketing Science," "Journal of Product Innovation Management," "Journal of International Marketing," and "Industrial Marketing Management," among others. He has also received several grants as PI or Co-PI from UMass Lowell, Marketing Science Institute, as well as Fonds de recherche du Québec – Société et culture (FRQSC) for his research projects on new products. He also serves at the Editorial Review Boards of the "Journal of Product Innovation Management" and "Industrial Marketing Management." His research has been highlighted in high-profile media outlets such as the BBC, "Wall Street Journal," "Forbes Magazine," and "Fast Company" as well as other outlets as the "Lowell Sun," "Sentinel and Enterprise," and WalletHub.com.
This study analyzes the impact of product launches into various global markets on cumulative abnormal stock returns. It provides an interdisciplinary perspective by bringing together elements of marketing, innovation, and finance to gain a better appreciation for how singular product launches can impact overall shareholder value. Our dataset spans 409 products from 27 product categories in 38 markets by 61 different brands for over 2 years. Results show that global product launches have a positive impact on abnormal stock returns and this positive impact is enhanced in the launch of very innovative products. Further, there is a positive and significant interaction between product innovativeness and socio-economic development of the country. This suggests that highly innovative products are likely to have a greater positive impact on shareholder value when they are launched in developed versus emerging markets. While emerging markets have become a popular recent topic in product literature, this study highlights the ongoing importance of focusing on developed markets for certain global product launches.Talay, B.B. (Co-Investigator) (UML), Obal, M. (Co-Investigator) (UML), Townsend, J.D. (Co-Investigator) (Oakland Universty)