Factors Influencing New Product Development: A Management and Commerce Perspective

Abstract

New product development (NPD) is a critical strategic process that enables organisations to remain competitive in dynamic markets. The present study aims to develop and validate an integrated conceptual model examining the key factors influencing new product development from a management and commerce perspective, with particular emphasis on age-wise differences in managerial perceptions. The proposed model incorporates six major determinants of NPD success: marketing research, innovation and technology, cost and resource management, competitor analysis, regulatory and compliance factors, and consumer feedback.