Abstract
This study is the first to evaluate the outcomes of alternative new product development (NPD) strategies among New Zealand firms. For each of six distinct NPD strategies, we assess performance by selecting the most applicable of 12 measures. We find that new product strategies produce better results than product improvement strategies, although managers rated profit margins unsatisfactory for all six NPD strategies. Our sample firms seldom reported using formalised NPD process or strategy, but when they did, this correlated positively with improved performance in all 12 measures. Firms generally recognised their NPD process performance as poorer than their product performance.
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