Endogenous growth theory applied: Strategies for university R&D

Economic theory has always been a useful tool for marketing strategy. Endogenous growth theory (EGT) differs from neoclassical models in that the long-run growth rate of an economy is endogenous, or driven largely by human decisions. The paper examines the potential impact of EGT on marketing thought, proposes a conceptual model of inputs and outputs at university R&D departments, and explores how these departments can use the idea of EGT as a guide for the development of marketing strategies.