Mid-Market Innovators

Running head: MID-MARKET INNOVATORS 1
Mid-Market Innovators
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MID-MARKET INNOVATORS 2
Mid-Market Innovators
Introduction
Some mid-market innovators are state-owned companies; others are privately held. All of them
are in stiff competition, normally with each other, which compels them to be thrifty, responsive
and agile. Mid-market innovators sell to consumers who have diverse tastes and preferences but
who also have their own hypercompetitive pressures, and they are swiftly shifting from their
Business-To-Business (B2B) landscape out into the worldwide economic context (Innovation, O.
E. C. D. 2007).. Mid-market innovators are speedily reforming the dynamics of numerous
industries - including transportation, agriculture, and healthcare - but many competing
organizations especially the incumbents are still largely uninformed of their existence (Sten,
2014). In this report, overall strategies and accounting theme of pricing techniques used in
middle-market innovators are going to be explored in depth. The report will also explain why
these companies are becoming more and more successful but generally it will revolve around
their innovative capabilities and competencies as their main reason behind their feasibility. Also
looked into in this report are the various challenges faced by incumbent mid-market companies.
In order to achieve these purposes, an extensive research of underlying literature on mid-market
innovators will be conducted and then afterwards analyze the information which will have been
gathered.
Literature review
According to Guillot, (2016) all mid-market innovator companies are at the frontier of
innovation. About nine out of every ten mid-market innovators are utilizing some form of virtual
or augmented reality and Internet of Things (IoT) to keep track of their business processes,

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forecast consumer behavior, and optimize development. Besides, almost half also are utilizing
demonstration or interactive mechanisms to aid enhance employee and customer interactions.
Guillot based these arguments on a research which surveyed 500 mid-market top officials about
how they were embracing contemporary technology as the main element of their business
development strategy. The research also proved that majority of these mid-market innovators are
using cognitive and predictive analytics to acquire insights into their client base and inform
pricing and consumer relations. This innovation is assisting many mid-market companies not just
survive in their respective industries, but also thrive and emerge rising leaders in their sectors.
However, Guillot notes that the increased usage of technology in mid-market innovators comes
along with some risks and concerns which might affect a firm’s security. According to the
research respondents, mitigating information risks and cybersecurity were their top priority, with
almost a half of them ranking it as among their main reasons for investing in cloud technology.
According to Dow Jones & Company, Inc. (2018) there is noteworthy shift towards technology-
facilitated transformation since numerous mid-market companies are pursuing investments to
enhance customer engagement, protect digital data, and improve productivity. Currently, there is
a significant progress in the adoption of new technologies by mid-innovators as a strategy
tailored to curtail various business development barriers that have for long hampered by their
growth. The majority of mid-market innovators are increasing their IT budgets in order to take
advantage of the productivity benefits and other business outcomes associated with broad array
of technology-related trends. They believe that technology investments will help them lessen
their organization’s operational expenditures, create new lines of service or businesses, augment
productivity, speed up the pace of business interactions and transaction, and also improve
business process alignment. Mid-market innovators point to cloud integration, information

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security, and big data as the high-tech trends which have the highest chances of increasing
business productivity. Digitization has the prospective not simply to plane the playing field for
mid-market innovators and private companies but to slant it in their favor (Morabito, 2014).
Precedent obstacles to investment like concerns about lack of business-IT alignment and cyber
threats are being addressed and converted into growth facilitators.
According to a research conducted by UNSW Australian Business School, (2015) mid-market
firms, especially those in Australia, are adroit to employing multiple forms of innovation. As
they progress beyond the central core part of their investments, which normally is an inventive
service or product, they spread out into other areas such as process innovation. However, the
researchers note that comparatively few middle market companies use organizational innovations
or marketing innovations. They recommend for some exceptional low-cost innovations which
mid-market corporations are employing and suggest these could be an aspect of opportunity
since competitive edge can be acquired by attempting a broad array of innovations. The
researchers also realize that mid-market firms in Australia encounter various innovation
challenges mainly related to time, technology, money, and people. Mid-market companies are
not able to pay employees as much as big companies and there are less promotion chances,
making it hard to secure creative labor pool. Corporations require monies to venture in people,
machinery, further technology and acquisitions to produce creative ideas and execute innovation.
Analysis
The introduction of new practices, pricing processes, services, and ideas is a crucial driver of
revenue of development and success amongst mid-market innovators. All of these middle-market
corporations tend to be splendid and frequent innovators, often producing and executing ideas