Innovation and the city: a macromarketing approach to industry development
Purpose ‐ The purpose of this paper is to propose and demonstrate the relevance of marketing systems, notably the process of product management and innovation, to urban development challenges. Design/methodology/approach ‐ A macromarketing perspective is adopted to construe the city as a product and begin the application of the innovation process to urban management, following the steps commonly proposed for successful innovation in product management. An example of the application of the initial new product development steps of idea generation and opportunity identification is presented. Findings ‐ The innovation process provides guidelines and checkpoints that enable corporations to improve the success rate of their development initiatives. Cities, like corporations, need to innovate in order to maintain their image and functionality, to provide a myriad benefits to their stakeholders and, thereby, to survive and grow. The example here shows how the preliminary NPD steps of idea generation and opportunity identification enrich the process of identifying and analysing new industry opportunities for a city. Practical implications ‐ By conceptualising the city as a multifaceted product, the disciplined planning and evaluation processes pertinent to NPD success become relevant and helpful to practitioners responsible for urban planning, urban development and change. Originality/value ‐ The paper shows how pertinent concepts and processes from marketing can be effectively applied to urban planning and economic development initiatives.