Figure 3
A table categorizing market contexts based on price sensitivity and brand awareness. The table is divided into four quadrants: Advanced Markets, Undiscovered Markets, Rising Markets, and Challenging Markets. Each quadrant describes the typical regulatory context, price sensitivity, and brand awareness, along with product launch strategies. The table has two rows and two columns. Row 1: Low price sensitivity and high brand awareness, Typical regulatory context: more consistent, Product launch focus on emotional and aspirational messaging that resonates with a well-informed customer base. Row 2: Low price sensitivity and low brand awareness, Typical regulatory context: more complex, Product launch focus on niche segments, regulatory compliance, and high-quality positioning where the new product can meet a specific need or preference.Typology of legitimation strategies across market contexts. Note: Figure 3 is organized around the two market-facing dimensions that emerged most clearly from the analysis: price sensitivity and brand awareness. Regulatory environment remains a distinct contextual characteristic and is indicated within each quadrant. Source: Authors’ own work