Scope, timing and strategic adjustment in emerging markets

A study examines the realized strategies of all domestic manufacturers in magnetic resonance imaging (MRI), a growing, high technology, industrial market characterized by high levels of regulatory, demand, and technological uncertainty. These manufacturers have behaved quite differently and have experienced varying levels of success in the market. A typology of entry strategies grounded in an intensive analysis of these data is presented. Specifically, it addresses the timing and scope of a firm's entry into the market, strategic adjustment over time, and the impact of these decisions on the firm's performance. It is proposed that these strategies represent trade-offs between the risks of resource commitment and competitive preemption. Specific, testable hypotheses based on this typology are also provided.