Benchmarking competitive responses to pioneering new product introductions

Given that the majority of firms are followers of pioneering firms into new, related product markets, managers of almost all firms can benefit from benchmarking their competitive responses to pioneering new product introductions. This paper examines the competitive responses of firms not only in terms of the time until their responding new product introduction, but also in terms of the firms’ preceding stages of competitive response: awareness, interest, and evaluation. For example, how long does – and should – it take a follower firm to become aware of a pioneering new product introduction? A general conceptual framework and basic methodology is proposed for firms to evaluate and benchmark their competitive responses. Follower firm responses to pioneering new low‐fat food product introductions in North America are examined and illustrate the opportunity for benchmarking firms’ competitive responses.