New product success criteria and key factors determining new product development : a survey of manufacturers in the electronics industry in Hong Kong

Pao Yue-kong Library Electronic Theses Database

New product success criteria and key factors determining new product development : a survey of manufacturers in the electronics industry in Hong Kong

 

Author: Ng, Tak-chuen
Title: New product success criteria and key factors determining new product development : a survey of manufacturers in the electronics industry in Hong Kong
Degree: M.Sc.
Year: 2000
Subject: New products -- China -- Hong Kong
Electronic industries -- China -- Hong Kong
Hong Kong Polytechnic University -- Dissertations
Department: Multi-disciplinary Studies
Dept. of Management
Pages: viii, 79 leaves : ill. ; 30 cm
Language: English
InnoPac Record: http://library.polyu.edu.hk/record=b1568958
URI: http://theses.lib.polyu.edu.hk/handle/200/4466
Abstract: Companies continuously develop new products and launch them into the market. Businesses are under extreme pressure to innovate and to do so quickly because of competition. Although most companies recognize the importance of new product development and invest in such attempts, new products are not always successful in the market. Two questions need to be answered (1) What are the criteria to measure product success or failure? and (2) What factors affect new product success ? Griffin and Page (1993) generated 16 success and failure (S/F) measures from four general categories "Measure of customer acceptance", "Measure of financial performance", "Product level measure" and "Firm level measure". They are widely used by firms and researchers. The first part of this research is to examine whether these S/F measures also apply to manufacturers in Hong Kong. It was found that the manufacturers found the S/F measures relevant and the S/F measures related to customer acceptance is highly ranked. Manufacturers who compete on fast response incorporate new technology into their new products, "Launched on time" and "Speed to market" are S/F measures they found particularly important. The second part of the research sought to find the factors affecting the new product performance. Four factors "New product performance", "Company's vision", "Long term investment" and "Company's field experience and knowledge" were identified. The new product performance was measured by "Achievement of sales and profit goals", "the product developed and delivered on time" and "the product quality attributes that meet market needs". It was found that the factors affecting new product performance are different for firms in Telecommunications and Electronics. For Telecommunications, effective new product development process can improve the achievement of sales and profit goals and the development timing. For Electronics, the company's field experience and knowledge is key to new product performance The performance of quality attributes is positively correlated with the company's vision both for firms in Telecommunications and Electronics.

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