Factors Impacting the Success of new Product Development in the UK Grocery Retail Industry: An Empirical Examination of Product Innovation Performance

Abstract

In mature markets, successful new product introductions are becoming increasingly important for sustaining profitability and business growth (Cravens 2002), but evermore difficult to achieve due to factors such as increased levels of competition, rapidly changing market environments, higher rates of technical obsolescence and shorter product lifecycles (Griffin 1997).