David A. Griffith and ChangSeob Yeo
David A. Griffith and Goksel Yalcinkaya
The global launch of a new product is a challenging and critical decision for firms in today’s competitive business environment. In this chapter, the authors investigate the topic of global product launch in a dynamically changing institutional economic context. The chapter begins with a conceptualization of the process of global product launch. Next, a review of the scholarly literature pertaining to two streams of discovery is presented. Specifically, the authors begin with an examination of customer-driven research, which has primarily focused on the diffusion of innovations. Then, they examine firm-driven research, which has focused on the managerial decisions regarding global product launch, and briefly discuss the current limitations brought forth in these literature streams. To address these limitations, the institutional economic perspective is offered. The institutional economic perspective views countries as consisting of social, legal, and political elements. However, more noteworthy, the institutional economic perspective views these elements as dynamic, wherein countries move toward convergence and divergence. The authors conclude by providing directions for future research that could advance the study of global product launch under the more holistic and dynamic institutional economic perspective.