Consumer-oriented new product development: a review of recent developments

Sotiria Voulgari, Stelios Tsafarakis, Evangelos Grigoroudis and Nikolaos Matsatsinis

International Journal of Information and Decision Sciences, 2013, vol. 5, issue 4, 364-392

Abstract: Firms need to continuously develop new products or redesign their existing ones, due to the intense competition they are facing, as well as the rapidly changing economical and sociopolitical environment. In this context, consumer behaviour modelling has become an important and inextricable part of successful new product development during the last decades. This paper constitutes a survey of the literature in consumer-oriented new product development. We review a total of 60 research propositions in consumer behaviour modelling as a part of the product development procedure. The findings indicate a trend for integrative methodologies that approach the new product development process from both a marketing and an engineering perspective. The incorporation of dynamic consumer behaviour models into the product development methodologies seems to be the most promising area for future research.

Keywords: new product development; NPD; consumer behaviour modelling; consumer preferences; product design stages; literature review. (search for similar items in EconPapers)
Date: 2013
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