Use of Social Media Applications for Supporting New Product Development Processes in Multinational Corporations

Naheed Bashir, K.Nadia Papamichail and Khaleel Malik

Technological Forecasting and Social Change, 2017, vol. 120, issue C, 176-183

Abstract: This paper examines the use of social media in new product development (NPD) processes. It is based on an in-depth study of multinational corporations (MNCs) around the world in the fast moving consuming goods (FMCG) sector. In order to obtain an in-depth understanding on the subject, a qualitative approach has been adopted to collect and analyse the data. The results suggest that social media can be viewed as an informal source for gaining an understanding of customers' preferences, competitors' activities, market trends and product feedback.

Keywords: FMCG; MNCs; New product development (NPD); Social media (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (21)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:tefoso:v:120:y:2017:i:c:p:176-183

DOI: 10.1016/j.techfore.2017.02.028

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