18F-6 |
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P. DHAMVITHEE1, A. Jangchud1, P. Wuttijumnong1, and B. Shankar2. (1) Dept. of Product Development, Faculty of Agro-Industry, Kasetsart Univ., 50 Phahonyothin Rd., Bangkok, 10900, Thailand, (2) Dept. of Agricultural and Food Economics, Univ. of Reading, Reading, United Kingdom The new product is widely regarded as an essential element of competition between agro-industrial companies, and the success of new product development is a vital key determinant of business performance. However, past research has not explicitly tested the effects of various development activities. The objective was to establish the structural equation model to determine new product development success in Thai agro-industry. In this study, data were collected from a senior person or manager of companies with substantial involvement in new product development activities about how important each stage of new product development activities are on its performance. The structural equation model has been established and modified according to existing theory, followed by validation. The result showed that managerial and marketing perspective variables are mostly positive causes on the new product development success, especially the planning and frequency milestone variables. Not only the causes of managerial and marketing perspective variables, but also the effects on new products such as margin and market share can also explain some new product development success or performance. The results of this study could provide a complete understanding of new product development success in Thai agro-industry in order to assess its validity and predictability. It also presents several preventive approaches to solve problems with a measure of new product development success, and suggests possible remedies if more problems remain.
Session 18F, Product Development: General
2005 IFT Annual Meeting, July 15-20 - New Orleans, Louisiana |