Introduction of new products – Insights from Turkish companies (original) (raw)
Related papers
ANTECEDENTS OF NEW PRODUCT SUCCESS
Success of new products is vital for increasing customers’ choice of products as well as their standards of living. It is important for the sustainability and growth of firms. New products serve to launch the company into new markets or technologies or add better need satisfaction and better benefit delivery to consumers. The success of new products is only 60% to 70% in most types of products. There is an urgent need to save the Billions of money lost every year due to new product failure, and to prevent the distress and trauma caused to the executives concerned, companies and the brands. Therefore, the drivers of new product success need to be investigated and examined so that they can be adopted and employed by companies developing and launching new products, so that success of new products is ensured. This study identifies the variables that affect success of new products, and also the extent to which each of these variables influences new product success. It compares the responses of managers and consumers of each of the two companies, as well as the responses of managers and consumers of one company with those of the other.
An integrated new product development model for the Turkish electronics industry
2001
The aim of this study is to report on an integrated model of new product development (NPD) and the analysis of factors, which have a significant effect on new product development success. First, an integrated NPD model based on past research findings and suggestions of several researchers is built. A three-step model is constructed and is tested through a series of statistical tests and analysis. The data for the testing of the model is provided by an empirical study conducted in the Turkish electronics industry.
Strategies for New Product Development in an Emerging Market
Advances in Social Sciences Research Journal, 2020
In competitive environment, selection of right strategy for new product development is considered as essential component for any business’s survival. In all available strategies, innovation and competitive strategies are the most important. Many organizations have to face failure while implementing this strategy because of having lack and integration among Research Development., Marketing, Customer and Competitor. This integration is considered the driver for new product development. Accordingly, this study is focusing the importance of right selection within Pakistani context by interviewing key informants working in different organizations. Implications will be beneficial for strategy makers working on new product development
Proposal of a Systemic and Integrated Framework to Support New Product
2015
New product development (NPD) is crucial for the existence of firms, as a source of competitive advantage and a determinant factor of business success. Several factors, both operational and corporate or even strategic, contribute to the process of innovation that supports the NPD. The holistic assessment of all these factors, taken together, has not been subject of research leading to the proposal of an integrated and systemic framework. Thus, this paper aims to propose a comprehensive framework, which integrates the strategic, organizational and procedural levels, as well as the set of factors to take into account in NPD projects problems to be solved with innovative solutions. Based on literature review, a comprehensive and integrated conceptual framework is obtained through a deductive-inductive pathway. The framework was referred as “Systemic and Integrated Framework of NPD” SIFNPD.
A Theoretical Approach to Factors Effecting New Product Development
International Journal of Academic Research in Business and Social Sciences, 2017
In our modern age that is having a quite fast and dizzy economic and social alteration and progress, witnessing a new technological product each and every day, and in which the expectations of consumers are getting higher and higher; enterprises have to be successful and sometimes manage to survive. Shortening life span of a product and the fact that consumers ask for a higher quality and a richer variety than past times maket he job of enterprises more difficult.Therefore, in order to be a successful business enterprise which is keeping its place in business world, it has been an obligation to put forward the products that have the expected qualifications by the consumers into the market on the right time without having a lack of quality.
This article responds to the identified considerations and gaps in existing research on the way a new idea is transformed into a market-accepted new product. Utilizing the findings of an extensive theoretical analysis and empirical investigation on the subject, this research studies new product development within a wider strategic marketing context. The research interrelates three different perspectives: the process-defining perspective, that identifies and refines the managerial implications and theoretical considerations; the value-defining perspective, which investigates the various types and stakeholders of value; and the context-defining (contemporary consumer behavior and strategic marketing) perspective, which positions the entire innovation process within the comprehensive set of environmental and organizational processes and factors. The article concludes with the development of a preliminary Contemporary Strategic Framework for New Product Development. The framework answers the various theoretical considerations on the subject, incorporating the various processes' stages and interrelationships within a single descriptive system. In addition, it provides constructive functional managerial value through potential practical implementation and prescriptive interpretation.
The Mixed Blessings of Technological Innovativeness for the Commercial Success of New Products
Journal of Product Innovation Management, 2011
This study addresses the contradiction that, although technological innovativeness of new products is often seen as a major driver of competitive advantage and commercial success, empirical research is not always able to show a significant performance influence. In order to find an explanation, the effects of technological innovativeness are decomposed as its influence on the market, the innovating firm, and the firm's environment is considered. The proposed model is tested on a sample of new product development projects. In order to avoid systematic biases, this paper uses a longitudinal survey design with two informants and a sample that includes both incremental and highly innovative projects.
New Products: What Separates Winners from Losers?
Journal of Product Innovation Management, 1987
present a series of ten hypotheses which they test using data obtained from their study of 203 new products. Significantly, these products include both commercial successes and failures, since previous studies have concentrated on either one or the other. The authors conclude that product superiority is the number one factor influencing commercial success and that project definition and early, predevelopment activities are the most critical steps in the new products development process. Success, they argue, is earned. It is not the ad hoc result of situational or environmental influences. Synergy, both marketing and technical, is crucial.