Abstract
Although theory points to the relevance of dynamic capabilities in firms that seek to drive new markets, we lack a clear understanding of how firms can develop and apply such capabilities. In this paper, we draw on a seven-step quasi-Delphi study to discuss how market-driving companies should conduct market-sensing, −seizing, and -transforming activities. We identify important research gaps related to determining needs in market sensing, making “big bets” versus taking small, incremental steps in market seizing, and individual versus collective market-driving activities in transforming markets, and on the role of agility and resources in market-driving activities. We propose an integrated research agenda to address these gaps and advance exploration of the market-driving phenomenon.
•Using dynamic capabilities as an organizing framework, we identify three main gaps in prior research on market driving.•Applying a quasi-Delphi approach, we initiate intense exchange among leading-edge academic experts on the identified gaps.•We propose eight potential research opportunities along with corresponding research questions and approaches to answer them.