ANALYZING CONSUMER BEHAVIOR ON THE INTRODUCTION OF NEW AND INNOVATIVE TECHNOLOGY IN RURAL AND URBAN MANUFACTURING SETTINGS

Purpose: The invention creation literature generally focuses on or substantially depends on urban businesses/regions; rural enterprises and places are seldom explored in this respect. This study uses a brand-new firm-level data collection with a nationwide scope to examine factors that may affect innovation development in both rural and urban enterprises. This suggests that state-level policies in these states that affect innovation creation are tailored towards businesses located in rural areas. Some governments may learn valuable lessons by comparing their own policies to those of the states with the highest rates of urban company innovation development. The quantity of patent applications submitted by these businesses serves as a proxy for their capacity for innovation, and the study uses the negative binomial regression estimator to conduct its research. Findings: After controlling for factors such as industry, county, and state, it is clear that urban businesses are better at capitalising on their resources than their rural counterparts, as seen by differences in creative production traits and behaviours. Two other major takeaways from this paper are that, first, rural businesses that are prepared to try and fail as soon as it comes to developing innovative products have a slight edge over other rural businesses that are less risk-averse, and second, the impact of college R&D on creativity creation is important for rural firms despite how rural firms perceive the information offered by universities.