Title
Service Innovation Commercialization Factors in the Fast Food Industry
Abstract
The purpose of this paper is to examine the service innovation commercialization process in fast food companies. The literature on main concepts of innovation, classification of types of innovation and its processes is well established. However, particularities and unique trends of various economies and industries in terms of innovations call for research efforts to characterize the innovation situation in specific countries and/ or industries. In addition to the regional specificity of innovation, Von Stamm (2008), Giannopoulou et al. (2014), Johannessen (2013), Hertog et al. (2010), and Oke (2007) call for discussions on peculiarities of service innovations and its commercialization specificity. The present paper focuses on the commercialization process of service innovation, while choosing as a research object innovations in the fast food industry and emphasizing the case of Lithuania. This research is relevant and innovative as not a little research has been conducted in the field of fast food restaurants. Also, many service innovation opportunities remain underutilized in the fast food industry; thus, the research question ‘What service innovations have the potential to maximize added-value in the fast food market and what is the best way to do this?’ is formulated. We attempt to identify factors that influence a company’s success in the fast food market while analysing the case of Lithuanian fast food companies. Taking into consideration that commercialization demands a thorough expertise in managing resources, strategic planning as well as managing processes from ideas generation to delivering services to the market and/ or receiving commercial value from it, the present research is centred on qualitative expert interviews among fast food companies. It serves as the theoretical conceptual framework of service innovation commercialization, and might be followed by similar research on the commercialization of service innovations.
Keywords
service innovation, commercialization, fast food industry, added-value, innovation processes
JEL classifications
M13
URI
http://jssidoi.org/jesi/article/91
DOI
Pages
108-128
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