Bibliometric Analysis on Product Innovation

Abstract

This paper examines the idea of product innovation, highlighting the vital role it plays in promoting technical developments, increasing competitiveness, and accelerating economic progress. The article provides the numerous definitions and classifications of innovation put forth by different researchers through a thorough analysis of the literature. The neo-Schumpeterian paradigm is used to analyze the distinction between invention and innovation as well as the classification of innovations based on their nature and impact. Furthermore, the discussion revolves around the importance of the product life cycle in comprehending innovation dynamics. Using the Web of Science (2024) publications database, research trends from 2014 to 2022 are analyzed. Notable contributions from prestigious academic journals show a consistent rise in scholarly interest. This study emphasizes the significance of product innovation in academic research and practical implementation while offering a theoretical framework for comprehending its complex character.