New product: success factors : an investigation

Abstract

In the present industrial environment the development of successful new products is essential for a company's survival therefore it is critical to identify and understand the hidden success factors that make a new product successful. Armed with the knowledge of these success factors, a company can increase the probability of launching a successful product in the market. This thesis investigated a number of randomly chosen projects, both successful and unsuccessful, at CNC business unit of austriamicrosystems AG. To analyse these projects the relevant factors, already proven with an empirical statistical significance on a large sample size, were selected. They were further factorized in accordance with the selected process steps at austriamicrosystems AG. Simplified NPD model which divides the NPD flow into two different stages and provides the flexibility to perform an investigation in systematical way, was used for investigation. Statistical analyses were done to identify the factors which behaved differently for successful projects. This work also explores the possibility of an existence of pattern in the market information by which false initiation of a project can be anticipated. Interpretation of these identified factors and patterns lead to the conclusion and recommendation for a positive outcome from New Product Development rendering an increased probability of successful products.