New product development commercialisation of Industry 4.0 products: evidence from a B2B Italian SME

Abstract

Purpose of the paper: The Industry 4.0 paradigm entails tremendous business opportunities. However, SMEs are struggling to effectively commercialize new products embedding Industry 4.0 technologies. Therefore, the study aims at exploring how SMEs manage the commercialization of Industry 4.0 new products to provide a thorough understanding of the main issues and barriers they face. Methodology: The study adopts a single case study of an Italian SMEs. Data have been analyzed through an abductive approach. The novelty of the topic calls for an explorative study consistent with the methodologies adopted. Results: The study finds several barriers and issues related to internal and external factors. Barriers and issues might be overcome if SMEs develop external partnerships to compensate their typical scarcity of resources. The firm faced the coronavirus pandemic, which highlighted further threats hidden into the commercialization process. Research limitations: The study design is qualitative in nature, limiting the generalization of the findings. The internal perspective and the specific study contexts also offer new avenues for future. research. Practical implications: The study provides several insights to support SMEs in their commercialization processes of new Industry 4.0 technological products. The study highlights the pivotal role of strategy and planning as well as marketing activities. Originality of the paper: The study contributes to the new product commercialization and Industry 4.0 literature by unravelling potential issues and barriers that innovator SMEs might encounter when commercializing new products that fall into the Industry 4.0 paradigm. The article provides a novel perspective as the extant NPD literature focuses on start-ups or large corporations, while the Industry 4.0 literature has been neglecting the commercialization process.