Table II. Business classification... | Emerald Publishing

Table II.

Business classification according to the product development strategy

Strategytype	Definition	Surveycode
Prospector	Is innovative and growth oriented, searches for new markets and new growth opportunities through the development of new products, even if it is a risky endeavour	Type A
Imitator	Maintains current markets and current customer satisfaction with moderate emphasis on product development, mainly directed to imitate succesfull innovators	Type B
Defender	Protects current markets, maintains stable growth, serves current customers	Type C
Reactor	No clear strategy, reacts to changes in the environment, drifts with events	Type C

Strategytype	Definition	Surveycode
Prospector	Is innovative and growth oriented, searches for new markets and new growth opportunities through the development of new products, even if it is a risky endeavour	Type A
Imitator	Maintains current markets and current customer satisfaction with moderate emphasis on product development, mainly directed to imitate succesfull innovators	Type B
Defender	Protects current markets, maintains stable growth, serves current customers	Type C
Reactor	No clear strategy, reacts to changes in the environment, drifts with events	Type C

Source: Based on Barney and Griffin (1992) and on Gálvez et al. (2012)