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The Idea Itself and the Circumstances of Its Emergence as Predictors of New Product Success

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Author Info

  • Jacob Goldenberg

    ()
    (School of Business Administration, The Hebrew University of Jerusalem, Mt. Scopus, Jerusalem 91905, Israel)

  • Donald R. Lehmann

    (Graduate School of Business, Columbia University, New York, New York 10027)

  • David Mazursky

    (School of Business Administration, The Hebrew University of Jerusalem, Mt. Scopus, Jerusalem 91905, Israel)

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    Abstract

    In view of the distressingly low rate of success in new product introduction, it is important to identify predictive guidelines early in the new product development process so that better choices can be made and unnecessary costs avoided. In this paper, we propose a framework for early analysis based on the success potential embodied in the product-idea itself and the circumstances of its emergence. Based on two studies reporting actual introductions, we identified several determinants (such as how the ideas originated, their specific configurations, and the level of technology required for their implementation) that significantly distinguish successful from unsuccessful new products in the marketplace. We suggest that these factors, together with already known factors of success/failure, may aid in the estimation of the potential of a concept early in its development.

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    File URL: http://dx.doi.org/10.1287/mnsc.47.1.69.10670
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    Bibliographic Info

    Article provided by INFORMS in its journal Management Science.

    Volume (Year): 47 (2001)
    Issue (Month): 1 (January)
    Pages: 69-84

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    Handle: RePEc:inm:ormnsc:v:47:y:2001:i:1:p:69-84

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    Related research

    Keywords: New Products; Success; Failure Creativity; Templates;

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    Cited by:
    1. Hoegl, Martin & Gibbert, Michael & Mazursky, David, 2008. "Financial constraints in innovation projects: When is less more?," Research Policy, Elsevier, vol. 37(8), pages 1382-1391, September.
    2. Astebro, Thomas B. & Dahlin, Kristina B., 2005. "Opportunity knocks," Research Policy, Elsevier, vol. 34(9), pages 1404-1418, November.
    3. Gellynck, Xavier & Kuhne, Bianka & Van Wezemael, Lynn & Verbeke, Wim, 2010. "Translating Latent Trends In Food Consumer Behavior Into New Products," 115th Joint EAAE/AAEA Seminar, September 15-17, 2010, Freising-Weihenstephan, Germany 116422, European Association of Agricultural Economists & Agricultural and Applied Economics Association.
    4. Beck, Jonathan, 2009. "Diderot's rule," MPRA Paper 17404, University Library of Munich, Germany.
    5. Nicholas Dew & Stuart Read & Saras Sarasvathy & Robert Wiltbank, 2011. "On the entrepreneurial genesis of new markets: effectual transformations versus causal search and selection," Journal of Evolutionary Economics, Springer, vol. 21(2), pages 231-253, May.
    6. Holmström, Jan & Främling, Kary & Ala-Risku, Timo, 2010. "The uses of tracking in operations management: Synthesis of a research program," International Journal of Production Economics, Elsevier, vol. 126(2), pages 267-275, August.
    7. Linda Hamdi-Kidar & Cyrielle Vellera, 2012. "What drives lead users to become users entrepreneurs ? an exploratory study of motivations," Post-Print halshs-00851319, HAL.
    8. Delre, S.A. & Jager, W. & Bijmolt, T.H.A. & Janssen, M.A., 2007. "Targeting and timing promotional activities: An agent-based model for the takeoff of new products," Journal of Business Research, Elsevier, vol. 60(8), pages 826-835, August.
    9. Johnson, Joseph G. & Raab, Markus, 2003. "Take The First: Option-generation and resulting choices," Organizational Behavior and Human Decision Processes, Elsevier, vol. 91(2), pages 215-229, July.
    10. Ramasesh, Ranga & Tirupati, Devanath & Vaitsos, Constantin A., 2010. "Modeling process-switching decisions under product life cycle uncertainty," International Journal of Production Economics, Elsevier, vol. 126(2), pages 236-246, August.
    11. De Cleyn S. & Braet J., 2007. "Research valorisation through spin-off ventures: Integration of existing concepts and typologies," Working Papers 2007008, University of Antwerp, Faculty of Applied Economics.
    12. Dew, Nicholas & Read, Stuart & Sarasvathy, Saras D. & Wiltbank, Robert, 2008. "Outlines of a behavioral theory of the entrepreneurial firm," Journal of Economic Behavior & Organization, Elsevier, vol. 66(1), pages 37-59, April.

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