Food Innovation: The Good, the Bad and the Ugly

John L. Stanton
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John L. Stanton: Saint Joseph’s University, USA

Management, 2016, vol. 11, issue 3, 193-202

Abstract: Innovation is critical to the life of any global food company and new product development is a major activity in the innovation process. However, innovation is not always a first choice to corporate growth. This article addresses the reasons why companies may fail to innovate and provides evidence that some of these obstacles are surmountable. It is presumed, without significant evidence, that most new products fail. This research will show that the failure rate of new product development is exaggerated. It also reports that there is variation in success rate across the food categories. It will show that the strategy used to introduce new products varies significantly across the spectrum. This article will also show that the strategies used introduce new products. This research shows that there is a statistically significant difference between global regions over the 3-year period.

Keywords: innovation; new product development; new product success rate; and new product entry strategies (search for similar items in EconPapers)
Date: 2016
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