Product Adaptation to Different Markets through Technology Innovation

Abstract: Background and Aim: Markets are getting increasingly complex, competitive and changing. A firm’s ability to respond to environmental challenges is a significant factor for its survival and success. To establish itself in the market, a company needs to adjust the product in a way that meets the expectations and required quality of the target market in other words, make relevant product adaptations. Many aspects of product adaptation have been discussed in the literature ranging from small changes in the product such as specification or design to modifying a company’s market strategy depending on which stage the product is in its life cycle. Technology innovation can enable a firm keep the market share and retain customers especially in a mature and technology driven industry where the market is saturated and consumers diffuse to competitors who easily copy the product. However, the role of technology innovation to adapt a product in the growth stage to mature markets is missing from the present literature. This present thesis will investigate the role of technology innovation in product adaptation and the factors to consider thereof the Swedish high tech company Saab will be used as the case study. Methodology: Research method for the present thesis includes the qualitative approach with the case study design. For the purposes of this thesis the Swedish high-tech company Saab will be studied to explore the practices of adapting product (field hospital) to different markets. Completion and results: Result of the study showed that there are similarities and differences between what literature provides and Saab does to adapt a product in markets. Analyzing the theory and practice recommendations for Saab were concluded. Suggestions drown for Saab can be useful for other high technology companies as well.