A Study on the Impact of Consumers' Perceptions of Product and Service Innovation on Firms' Innovation Performance

Abstract

With the development of globalization and informatization, enterprises face increasingly fierce market competition and changing customer demands, and innovation has become a key factor for their survival and development. Consumer product innovation and service innovation are essential aspects of enterprise innovation. This study aims to explore the impact of consumer product and service innovation perception on enterprise innovation performance to enhance innovation capacity and competitiveness. With guidance from theoretical foundations, this study focuses on relevant concepts and models such as consumer perceived value theory, rational action theory, game theory, transaction cost theory, resource-based view, and contingency theory. Consumer perceived value theory holds that customers' perception of product innovation depends on how much value it can bring to their lives. Rational action theory indicates consumers strive to maximize personal benefit when making decisions. In service innovation research, game theory and transaction cost theory emphasize the importance of the interaction and decision-making between customers and service providers. The resource-based view emphasizes the impact of enterprise resources and capabilities on innovation decision-making. At the same time, contingency theory points out the need for enterprises to adopt strategic, flexible, and adaptable strategies in uncertain environments. This study uses a questionnaire survey and structural equation modeling for data collection and analysis. The research model constructs the relationship between consumer product innovation, service innovation, and consumer satisfaction and analyzes the mediating effects. Research hypotheses include mediating effects of perceived product innovation, perceived service innovation, and consumer satisfaction. After verifying the reliability and validity of the data obtained through the questionnaire survey, structural equation modeling is used for data analysis to validate the research hypotheses. The results show that consumer product innovation and service innovation have a significant impact on enterprise innovation performance. The higher the consumer perception of product and service innovation, the better the enterprise innovation performance. In addition, consumer satisfaction partially mediates between perceived product innovation, perceived service innovation, and enterprise innovation performance, which means that satisfied consumers have a certain degree of mediating effect on the impact of product innovation and service innovation on enterprise innovation performance.