New product development is a necessary activity for a company’s competitiveness, profitability and growth. However, new product development is a risky activity as a large percentage of new product introductions fail to achieve their commercial targets. The present chapter reviews the existing evidence on new product success and failure factors. From that it introduces the perspective of consumer-oriented new product development as a way to balance new technological opportunity against identified consumer needs and desires.
Book preface, encycl. entry
Encyclopedia of Agriculture and Food Systems, 2014, p. 375-386