New Product Development: What Impacts A Strong NPD Capability?

What is it about?

We examine new product development capability in firms. We examine two resources that enable new product development, that of the firm's market intelligence processes and the firm's ability to create relationships with other firms and partners. We find that both processes possess an important positive role in a firm's ability and processes to develop new products. Further, when the firm combines its market intelligence with its ability to create external relationships, it further heightens its ability to develop new products.

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Why is it important?

Our results show that in order to enhance a firm's new product development capability it requires both internal processes, such as the ability to utilize and and analyze business information, and more externally-oriented processes, such as the ability to create external relationships.