The purpose of this study is to examine difference of the new product development practices and factors that contribute to new product success between ventures and non-ventures. This study investigates 52 new product development projects from 15 firms...
The purpose of this study is to examine difference of the new product development practices and factors that contribute to new product success between ventures and non-ventures. This study investigates 52 new product development projects from 15 firms, which are categorized into 4 groups including one venture group and three non-venture groups based on firm size and industry characteristics. While there is few differences in new product development practices, the results of this study shows some differences in determinants of new product performance between ventures and non-ventures. High degree of market growth, technology and market fitness, organic procedure and structure, proficiency in early stage of development are salient success factors in ventures. Based on the research results, this study suggests the guidelines for top management and new product project manager in venture. In addition, limitations and suggestions for further study are noted.