Novel Approach for Assessing the Factors Affecting New Product Development

Abstract

In business and engineering, new product development (NPD) is the term to describe the complete process of bringing the new product or service to the market. Business firms spend large sums of money for new product development due to many important reasons. This study is aimed to propose an approach to evaluate the factors affecting new product development in manufacturing sector in Iran. In this regard, BWANP method has used. BWANP is a vector-based method, which requires fewer comparisons, compared to the ANP matrix-based method. The proposed approach requires less comparison data, which results in creating more consistent comparisons, and obtaining more reliable results. In addition, this method can be easily used by the experts. Results showed that some factors including Behavioral-cultural factors, Organizational factors and Environmental factors are the most important factors among the factors affecting NPD.