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NEW PRODUCT DEVELOPMENT PROCESS: AN INVESTIGATION OF SUCCESS AND FAILURE IN HIGH TECHNOLOGY AND NON-HIGH TECHNOLOGY FIRMSABSTRACTThis study examines the causes of new product failure and success in two industries from the perspective of high versus low technology levels. The study compares various factors, such as sources of new product ideas, firms' following new product development plans or procedures, and several competitive activities. The companies studied come from the food processing and medical instrument technology industries and were chosen to represent low and high technology industries respectively. An extensive literature review revealed that previous research studies concerning new product development center on five research streams. Several variables relate to new product success. In the food processing industry, the most important variables which relate to new product success appear to be firms' following new product plans or procedures, competition, price, access to distribution channels, and customer switching costs. However, factors such as product performance, poor marketing, product obsolescence, access to distribution channels, and customer switching costs seem to be the most important sources of new product success in the medical instrument technology industry.
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