Keywords : Diffusion of Innovation
Marketing and Branding Research,
2016, Volume 3, Issue 1, Pages 50-62
The success of launching of a new product on the market depends largely on the activities that are undertaken by the manufacturer. The brand, the positive image of the manufacturer, quality, innovation, technology, the low cost of manufacturing, the well-balanced product price, and the degree of fulfilment of customer expectations all determines the success of a business. The traditional New Product Development (NPD) model in which companies are entirely responsible for producing new product ideas and for determining which products should finally be marketed is progressively being challenged by academics and practitioners alike working in the field of innovation management. The main aim of this article is to present the traditional NPD model and the different dimensions of the NPD strategy. In this article, the authors provide a short empirical study to explore the issue of how the NPD process is run in Polish private medical businesses.