ABSTRACT
New product development is continuing to be an area that is receiving increased awareness, both in theory and practice (Shani et al., 2003). It is regarded as an essential activity for firms that desire to face competition on the basis of quality and suitability of purpose (Ciappei and Simoni, 2005; Cooper, 1999; John and Snelson, 1990). Cooper (1999) argues that businesses can develop new products or fail, which are the only two options available for any service organisation in today’s competitive business environment. Along the same lines, Booz et al. (1982) argue that the success of launching new products is increasingly responsible for the growth and profitability of firms. Kotler and Armstrong (2004) also suggest that new product development (NPD) is of utmost importance to enable a company to meet customer wants and needs effectively.
