Product renewal in platform-based ecosystems: the impact of product portfolio complexity in global derivative exchanges

Purpose The purpose of this study is to extend theoretical advancements in ecosystem innovation by examining derivatives exchange platforms–a long-established yet increasingly digitalized segment of global financial services. Whereas most prior research has centered on platform-based ecosystems in high-technology industries, derivatives exchanges operate with distinct transaction dynamics, offering a valuable setting to uncover contingencies relevant to B2B marketing and ecosystem management. Design/methodology/approach This study analyzes a sample of 119 derivative exchanges from 1996 to 2013 across 37 countries. Using a zero-inflated Poisson (ZIP) model, the authors examine how product portfolio complexity (PPC) influences new product introduction and removal and how these effects vary with PPC magnitude. Findings The findings indicate that there is a nonlinear S-shaped relationship between PPC and product renewal in the context of platform-based ecosystems. The study reveals that both new product introduction and product removal are essential strategies for managing a complex product portfolio within derivatives exchange platforms, highlighting the cumulative effects of the knowledge base and ecosystem dynamics. Originality/value This research contributes to B2B marketing and innovation research by exploring the unique dynamics of derivatives exchange platforms within platform-based ecosystems. By identifying the S-shaped relationship between PPC and product renewal, this study provides valuable insights for practitioners and scholars seeking to navigate the complexities of ecosystem management and innovation strategies in digitalized B2B markets.