Most recent work in the area of new product development has been of a theoretically prescriptive basis, ignoring, to a large degree, the current state of affairs in US corporations. The study examines, on a comparative basis, consumer and business products organizations, practices being utilized to guide the development process and key factors influencing the success/failure of the process. Results from an empirical study reveal that: (1) there is no one best means to structure the process; (2) top management commitment to and support of the process is a critical factor; (3) knowledge of markets and customers remains elusive; and (4) more similarities than differences exist between the practices undertaken by and the factors influencing success/failure in consumer versus business products organizations.
Journal of Product & Brand Management – Emerald Publishing
Published: Mar 1, 1995
Keywords: Consumer marketing; Decision making; Marketing strategy; New product development; Product‐focused organizations; Product management; Top management
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