A conceptual model for finding key factors for new product development evaluation

Abstract

This paper develops a conceptual model for finding key factors for new product development (NPD) evaluation. It builds on the work of the most cited and published authors on innovation management, but transfers attention from advertising aspects and efficiency, to factors identified within the NPD process such as new product project definition, a firm’s resources, organisation-product fit, and commercial entity, that would lead to success with “Information acquired” being identified as the underlying key factor. This paper presents a summary of the results of correlation coefficients calculated between the factors identified and outcome measures, derived from the leading authors’ work. Further, analytic hierarchy process (AHP) was used to evaluate the results of the correlation coefficients of sub-factors, which were modified by considering the ranking of each author.

Keywords

• new product development (npd), new product project, project evaluation.