Global Journal of Management and Business Research, E: Marketing, Volume 21 Issue 4

Patents Owned Single patent 91 41 less than 5 patents 105 48 More than 5 patents 24 11 In terms of the patents, the number of patents commercialised was 81 or 37%, of which 60 were owned by organisations and individuals owned only 21. Very few patents were registered outside the country (11%), of which organisations owned 21. 16% or 36 patents were stated as cited, of which organisations owned 32. This indicates an overall portfolio of weak patents, with stronger ones owned by organisations (Refer Table 3). Table 3: Patent Value Value Dimension Organisation Individual n % n % Commercialised 60 27 21 10 family size 21 10 3 1 cited 32 14 4 2 Based on the respondent and patent profile, it is apparent that whilst the inventors are well experienced and knowledgeable, the overall patent value is weak based on the criteria for valuing patent worth: citation, family size, and renewals (Maurseth, 2005; Svenssen, 2010). The analysis of the study commenced with the constructs of the questionnaire being first checked for internal consistency to ascertain how closely they represented the single latent variable. This was verified through the Cronbach Alpha test, which was > .7 for the MO and DF constructs (Refer Table 4). A Cronbach Alpha score of .9 is considered excellent reliability, while a score between .8 and .9 is deemed to be good and a score between .8 and .7 is considered acceptable (Nunnally) Table 4: Test for Reliability Pilot Study Final Study Variable No. of Items Cronbach Alpha No of Items Cronbach Alpha Market Orientation (MO) 8 0.779 7 0.912 Diffusion (DF) 12 0.879 10 0.885 Though the pilot test Cronbach Alpha scores for both dimensions were acceptable, one item scale was dropped from the MO dimension, and two-item scales were dropped from the Diffusion dimension as most respondents felt the scales were either confusing or not relevant which improved the CA rating for both dimensions in the final study. The construct validity was also tested to assess how well the results of the data gathered from the scales used to measure the constructs fit the theory around which the research is designed. This was done using correlation analysis and factor analysis. The KMO test was also run to ascertain sampling adequacy. The KMO measures the proportion of variance in the scales that may result from an underlining factor. KMO measures vary between 0 -1, with a value closer to 1 being considered excellent with a value of.6 is the minimum acceptance value. The results from these tests are given in Table 5. Table 5: Factor Analysis Variable KMO Bartlett’s Test Factors Variance Items Market Orientation (MO) 0.899 0.000 Single 0.72 7 Diffusion (DF) 0.818 0.000 Single 0.72 10 © 2021 Global Journals Global Journal of Management and Business Research Volume XXI Issue IV Version I Year 2021 ( ) E 37 The Impact of Market Orientation and Diffusion on Commercial Success of Patented Innovation in Sri Lanka