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Economics of Innovation: The Case of Food Industry (Paperback, Softcover reprint of the original 1st ed. 1996)
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Economics of Innovation: The Case of Food Industry (Paperback, Softcover reprint of the original 1st ed. 1996)
Series: Contributions to Economics
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Giovanni Galizzi and Luciano Venturini The food industry has been
characterized by several and profound changes in its structure and
competitive environment in the last decades. Although it is not a
research-oriented industry, there is no arguing that technological
change and particularly product innovations are crucial
determinants of ftrms' performance and In recent years food
manufacturers have accelerated the consumers' welfare. development
of new products, by using new ingredients, processing and packaging
techniques. Thus, food markets are increasingly characterized by
competitive environments where relevant flows of innovative
products, quality improvements and new technologies provide new
consumption trends, food habits, market opportunities and ftrms'
strategies. However, the issue of product innovation in the food
industries has been rather neglected by economists. Few works have
explicitly addressed this issue. After the pioneering book of
Buzzell and Nourse (1967), one can count few contributes. Connor
(1981) examined the empirical determinants of new food products
introductions. Padberg and Westgren (1979) provided crucial
insights about the nature of food innovation through their notions
of consumer inertia, technological redundancy and incremental
product innovation. Some case-studies provide useful empirical
materials, but they are generally sparse.
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