Resolute Paramount Constituent of New Product Development and Ascendancy on Food Manufacturing Companies: A study on Bangladeshi Food Industry
New product development (NPD) is indispensable for marvelous corporate performance. Recent studies found that the overall rate of success for newly commercialized products has remained stable at less than 60 %, indicating that substantial resources continue to be devoted to new product development efforts that fail in the marketplace. This study has designed to investigate the influence of strategic orientation, marketing strategy, and market research activities on new product development among food product manufacturing companies in Bangladesh. The data was collected from the marketing managers, operation managers and from those who have been involving greatly in the new product development process. A total of 113 useable questionnaires were completed. The results illustrate that strategic orientation, marketing strategy and market research activities are directly influence new product development process in the food industry of Bangladesh.
