Abstract
The rate of new product failures kept high. Although many scholars had developed models to test the antecedents of new product performance, a few of them noticed the effect of the government innovation and market dynamics. The results of this paper showed that government innovation policies exerted a direct and marked effect on the process of new product development and product competitive advantage. Market dynamics did not have a significant effect on the new product development process, but it significantly had a negative impact on the competitive advantage of new products. The paper also showed that government innovation policies and market dynamics might affect different types of enterprise product competitive advantages. Government innovation policies were likely to influence various types of enterprises. The small private-owned manufacturing enterprises suffered the impact of government innovation policies and market dynamics prominently.
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