The purpose of this study is to find out key factors affecting the performance of NPD and present strategic implications of NPD for domestic manufacturers that develop seafood products. In this study, the causal relationship and degree of influence among the factors influencing the performance of th...
The purpose of this study is to find out key factors affecting the performance of NPD and present strategic implications of NPD for domestic manufacturers that develop seafood products. In this study, the causal relationship and degree of influence among the factors influencing the performance of the new product development were empirically analyzed. This study conducted two surveys. The first survey identified the status of seafood NPD in the population(N=302). The survey showed more than 30% of companies developed new products. The second survey was conducted using a structured questionnaire. The empirical analysis used statistical programs for the collected measurement data(N=208).
H1(P→A) & H2(P→O) was adopted. Property of products(P) has a positive(+) effect on competitive advantage(A) and opportunity creation(O). The results suggest that a new seafood product that is more novel and innovative in product quality and design and more environmentally friendly for raw materials, processing, and packaging has a competitive advantage over competitors. In particular, the novelty and innovation of a new product has positive impacts on creating new opportunities such as new markets and technologies. H3(K→A) & H4(K→O) was adopted. Knowledge(K) has a positive(+) effect A and O. This result indicates that superior price competitiveness compared to competitors as competitors rare high knowledge of new products and superior quality in processing, packing and R&D. In particular, the path coefficient, which is the influencing factor between K and O, is the highest all the coefficients of this research model. This means that the Knowledge(K) has a greater impact on new market developments and technology acquisitions than other pathways. H5(I→A) & H6(I→O) was adopted. Involvement(I) has meaningful and positive impacts on Advantage(A) and Opportunity(O). These results indicate that higher participation levels, such by retailers and suppliers, have a positive impact on the competitiveness of new products, quality and price competitiveness. In particular, retailers are proxy indicators for understanding the diverse needs of consumers. Because they allocates sales space for new products, it is necessary to induce active participation by retailers in seafood NPD. H7(A→R) and H8(O→R) was adopted. Competitive advantage(A) and opportunity creation(O) have a significant and positive impact on the performance of NPD. The results indicate that securing a discriminatory competitive advantage over competitors has a positive impact on the performance of NPD. In particular, the competitive advantage of quality and price has a positive impact on NPD, such as profitability, sales and market share of new products.
Finally, we analyzed the relationship between Competitive Advantage(A), Opportunity Creation(O) variables and NPD performance based on Market Entry Order(E). First of all, it was revealed that the impact of a new product's competitive edge on the performance of NPD varies according to the order of entry into markets. This means that in terms of the performance of the new product development, the “Free-ride Effect” of late entry(LE) is greater than the “Market-first Effect” of early entry(EE). However, it was found that there is no difference between LE and EE in the effect of adjusting(A→R, O→R) the performance of NPD.
NPD is also becoming one of the major research areas in field of marketing research, in Korea. In particular, research on the performance of food NPD has been carried out actively around Europe. However, there are only a limited number of studies on the performance of food NPD conducted in Korea, and there is no research on seafood industry or seafood NPD. In this regard, the study derived the success factors of NPD through various research in literature. It is also the first study on the performance of seafood NPD.
The purpose of this study is to find out key factors affecting the performance of NPD and present strategic implications of NPD for domestic manufacturers that develop seafood products. In this study, the causal relationship and degree of influence among the factors influencing the performance of the new product development were empirically analyzed. This study conducted two surveys. The first survey identified the status of seafood NPD in the population(N=302). The survey showed more than 30% of companies developed new products. The second survey was conducted using a structured questionnaire. The empirical analysis used statistical programs for the collected measurement data(N=208).
H1(P→A) & H2(P→O) was adopted. Property of products(P) has a positive(+) effect on competitive advantage(A) and opportunity creation(O). The results suggest that a new seafood product that is more novel and innovative in product quality and design and more environmentally friendly for raw materials, processing, and packaging has a competitive advantage over competitors. In particular, the novelty and innovation of a new product has positive impacts on creating new opportunities such as new markets and technologies. H3(K→A) & H4(K→O) was adopted. Knowledge(K) has a positive(+) effect A and O. This result indicates that superior price competitiveness compared to competitors as competitors rare high knowledge of new products and superior quality in processing, packing and R&D. In particular, the path coefficient, which is the influencing factor between K and O, is the highest all the coefficients of this research model. This means that the Knowledge(K) has a greater impact on new market developments and technology acquisitions than other pathways. H5(I→A) & H6(I→O) was adopted. Involvement(I) has meaningful and positive impacts on Advantage(A) and Opportunity(O). These results indicate that higher participation levels, such by retailers and suppliers, have a positive impact on the competitiveness of new products, quality and price competitiveness. In particular, retailers are proxy indicators for understanding the diverse needs of consumers. Because they allocates sales space for new products, it is necessary to induce active participation by retailers in seafood NPD. H7(A→R) and H8(O→R) was adopted. Competitive advantage(A) and opportunity creation(O) have a significant and positive impact on the performance of NPD. The results indicate that securing a discriminatory competitive advantage over competitors has a positive impact on the performance of NPD. In particular, the competitive advantage of quality and price has a positive impact on NPD, such as profitability, sales and market share of new products.
Finally, we analyzed the relationship between Competitive Advantage(A), Opportunity Creation(O) variables and NPD performance based on Market Entry Order(E). First of all, it was revealed that the impact of a new product's competitive edge on the performance of NPD varies according to the order of entry into markets. This means that in terms of the performance of the new product development, the “Free-ride Effect” of late entry(LE) is greater than the “Market-first Effect” of early entry(EE). However, it was found that there is no difference between LE and EE in the effect of adjusting(A→R, O→R) the performance of NPD.
NPD is also becoming one of the major research areas in field of marketing research, in Korea. In particular, research on the performance of food NPD has been carried out actively around Europe. However, there are only a limited number of studies on the performance of food NPD conducted in Korea, and there is no research on seafood industry or seafood NPD. In this regard, the study derived the success factors of NPD through various research in literature. It is also the first study on the performance of seafood NPD.
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