Developing Innovative Products in China's Consumer Electronics Market: From Customer-Oriented to Value-Driven Marketing

Consumer behavior changes have led to changes in company marketing practices. Today's marketers have to pay closer attention to people's behavior and needs in order not to lose relevance especially in high growth markets and industries such as Consumer Electronics. The Purpose of this paper is to first analyze the approaches used by Chinese consumer electronics companies to develop innovative products and finally propose a framework for the integration of value-driven marketing practices. The paper adopts a multiple case study approach and finds that the most successful innovators are deep need seekers, market readers and sometimes technology drivers who value customer needs satisfaction and infuse service value into brand value. We draw as a conclusion that the integration of value-driven practices through business model transformations and new business perspectives should enhance the companies' product-related and non product-related differentiation capabilities and creativity, Customer Engagement and more importantly lead to enhanced product innovation capabilities, business model innovation, brand reinforcement and better customer experience.