Success in New Product Development: The Lessons from the Past

The authors report the results from a three-year study of new product development practices in Japanese firms. They develop a causal model of factors correlated with new product success. They test the model using data collected on 788 new products developed and commercialized by Japanese firms in the past four years. The “best practices” identified in this study suggest that Japanese new product success is positively influenced by the level of cross-functional integration and information sharing, the firm's marketing and technical resources and skills, the proficiency of the new product development activities undertaken, and the nature of market conditions. Cross-functional integration and product competitive advantage are two key determinants of new product success. The authors also discuss managerial and research implications.

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NEW PRODUCT DEVELOPMENT OPPORTUNITIES IN REZEKNE

Journal of Regional Economic and Social Development ◽

10.17770/jresd2021vol1.13.6714 ◽

2021 ◽

Vol 1 (13) ◽

pp. 24-33

Author(s):

Iveta Dembovska ◽

Violeta Kovalenoka

Keyword(s):

Statistical Analysis ◽

Product Development ◽

New Product Development ◽

New Product ◽

Tourism Industry ◽

Industry Data ◽

The Past ◽

Tourism Product ◽

The Creation ◽

Statistical Analysis Methods

The tourism industry was one of the fastest growing industries in Latvia until the pandemic was declared in 2020, which brought the entire industry to a halt. Before the pandemic, travel trends were already moving towards the type of experience offered by hostels, and consumer demand had grown in the past years. Moreover, the industry data show that the number of travellers who use hostels is growing. There are several lodging opportunities in Rezekne, but there is no economical option, which would be a hostel. The research aim is to study the theoretical aspects of a new product and analyse the opportunities for the creation of a hostel – a new tourism product in Rezekne. The methods used in the research are monographic, synthesis, statistical analysis methods, and a survey. The research allowed making recommendations for the creation of a new tourism product – a hostel – in Rezekne. The results of the research and survey showed that hostel-level accommodation is needed in Rezekne.

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The value of customer involvement in new product development for company

Marketing ◽

10.5937/markt2004271g ◽

2020 ◽

Vol 51 (4) ◽

pp. 271-282

Author(s):

Mirjana Gligorijević ◽

Jovan Rusić

Keyword(s):

Product Development ◽

New Product Development ◽

New Products ◽

New Product ◽

Market Size ◽

Local Market ◽

Customer Involvement ◽

The Past ◽

Development Processes ◽

A Company

Modern companies are facing much tougher competition than before. In the past, companies were competing, mostly with other companies locally. Now companies can offer their products to customers beyond the local market. Globalization presents a huge chance for companies to grow by an increase in the market size, but as the market size grows, the same happens with the competition. If a company wants to endure, a company is under pressure to innovate, and including customers can affect new product development. The goal of this paper is to determine if including consumers in new product development can affect faster and better quality new product development processes and increase new product value for the company. This analysis should provide us with an answer to the question, should we include consumers, and if we should, when? The results of this paper could act as a guide for managers in developing new products.

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United Beverages: Product Development Genius or One-Hit-Wonder?

Darden Business Publishing Cases ◽

10.1108/case.darden.2016.000333 ◽

2017 ◽

pp. 1-13

Author(s):

Raul O. Chao ◽

Stylianos (Stelios) Kavadias

Keyword(s):

Resource Allocation ◽

Product Development ◽

Development Strategy ◽

New Product Development ◽

New Product ◽

Development Team ◽

The Past ◽

Brand Recognition ◽

Product Development Strategy ◽

Future Growth

United Beverages' first product, GangBusters Interactive Beverages, has reached the stage of wide brand recognition. However, over the past 12 months, growth has stalled and the product development team at United Beverages is considering several ideas for future growth. The team must consider market and technical uncertainty as well as resource allocation issues as they define the new product-development strategy for United Beverages.

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Strategies for collaboration in new product development

Journal on Chain and Network Science ◽

10.3920/jcns2005.x056 ◽

2005 ◽

Vol 5 (2) ◽

pp. 65-72 ◽

Cited By ~ 1

Author(s):

Cecilia Mark-Herbert

Keyword(s):

Product Development ◽

Competitive Advantage ◽

Case Studies ◽

New Product Development ◽

Technological Development ◽

New Product ◽

Added Value ◽

New Markets ◽

The Past ◽

Licensing Agreements

In the past decades Swedish food companies have faced increasing competition. One way of gaining competitive advantage is to find new ways of creating added value based on technological development. This may lead to the production of valueadded products, profits from licensing agreements and a boost for the company image. Businesses that want to succeed in this market also need to develop new managerial methods, in particular in identifying critical technologies and strategic collaboration partners. The presented case studies provide examples of building internal skills, employing innovative external sourcing, developing new markets with strong brands and establishing networks and alliances for new product development.

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