An empirical study on the factors influencing the new product development process in Indian automobile industries

Abstract

Automobile manufacturing industries are looking at innovative ways to improve their company processes globally to maintain profitability in an increasingly complicated and competitive global market. There is fierce competition in the automotive business, which is evolving quickly. A crucial constituent of an organization’s success, survival, and vitality in such industries is the process of new product development. Several studies have been conducted to investigate the success factors of the new product development process in the Automobile industry. This research work tested the hypothesis that factors influence the process of new product development in the Automobile manufacturing industries of Maharashtra. The evidence was collected from higher officials of respective industries. The findings show that market orientation, market competition, and organizational culture have a significant impact on the New Product Development Process in the Automobile Manufacturing industry. The result of this study also shows that the role of governance and organization competence and resources do not impact the New Product Development Process. This suggests that management in the Automobile manufacturing industry strategy should focus on all the possible influential factors during the process of product development.