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Product Innovation Strategies and Performance of Australian Firms
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Larry Dwyer and Robert Mellor
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Abstract
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This study investigates the relationship between product innovation strategies and new product success for N = 108 Australian firms. Five different types of strategies were identified. Interestingly, the different strategies had quite similar levels of reported success, suggesting that firms adapt their product innovation strategies to allow for industry and market conditions. Overall, however, the best-performing strategy appeared to consist of technical fit, attention to customer needs and aggressive marketing.
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Keywords
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NEW PRODUCT DEVELOPMENT; MANAGEMENT STRATEGIES; PRODUCT INNOVATION PERFORMANCE.
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Contact Details
Larry Dwyer
Faculty of Business and Technology
University of Western Sydney
Macarthur NSW 2560
Robert Mellor
Faculty of Business and Technology
University of Western Sydney
Macarthur NSW 2560
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We wish to thank John Rossiter and two anonymous referees for constructive comments on an earlier draft of this paper. We also wish to thank staff in the business enterprises who responded to our questionnaire. Financial support was provided by the University of Western Sydney, Macarthur Research Board. Part of the analysis for the paper was carried out while the second author was on study leave at Warwick Business School, University of Warwick, U.K.
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