Hybrid market offering in the medical technology sector and the role of network configuration: an exploratory assessment in both developed and emerging markets

Abstract

PurposeApplying both the dynamic capability and configuration theoretical perspectives, the paper showcases the role of network configuration and dynamics of hybrid offerings in both developed and emerging markets by high-tech firms.Design/methodology/approachThe current paper uses an exploratory qualitative research methodology based on in-depth case studies of three Finnish high-tech firms operating in the medical technology industry globally.FindingsThe findings from the study showed that dynamic capabilities such as sensing and customer engagement along with internal coordination and adaptation capabilities are critical to the success of hybrid market offerings. Moreover, dynamic capabilities were found to be influential in those emerging and advanced international markets where case firms were less familiar with market dynamics. Moreover, the configuration of these capabilities within functional units and coordination of marketing and R&D activities can be effective for creating hybrid offerings in international markets. Ultimately, this was found to be the case even though target market selection for hybrid offerings was influenced by the level of convergence and fragmentation of the market.Originality/valueApplying the configuration theory, this is one of the first studies to specifically analyze the differences in organizational network configuration changes in relation to hybrid market offerings in both developed economies and emerging economies. The findings contribute to hybrid market offering literature by pointing out that not only internal capabilities are important for enacting hybrid offerings, but the roles of ecosystems and knowledge centers are also extremely important to develop hybrid offerings. This paper also highlights the criticality of under-studied dynamic capabilities such as market sensing and customer engagement in the context of hybrid offerings in international markets. This showcases the wider role of ecosystems in enabling technology firms to develop hybrid offerings.

Exploring the influence of hybrid product–service offerings on firm internationalization strategies: an international perspective

“…All these possibilities present their challenges and must be analyzed on a caseby-case basis. Khan et al (2023) scrutinizes the strategies of alliances, acquisitions and subcontracting adopted by firms engaged in the sale of hybrid offerings. Davies et al (2022) conducts a comprehensive literature review on how the coordination of hybrid offerings occurs through ecosystems rather than being internally developed by a single firm.…”

“…Khan et al . (2023) scrutinizes the strategies of alliances, acquisitions and subcontracting adopted by firms engaged in the sale of hybrid offerings.…”

Financial and non-financial factors for the success of hybrid offerings: evidence from multinational enterprises in an emerging market

“…Recently, Khan et al (2023) highlighted the role of developing countries in terms of hybrid market offerings. In particular, the authors found that emerging markets are more and more relevant about hybrid offerings, underlining the importance of Asia and Africa and their growing potentialities.…”

“…Recently, Khan et al . (2023) highlighted the role of developing countries in terms of hybrid market offerings.…”