Abstract
M.Com. (Business Management)
The industrial product manager is responsible for the development and marketing
of a product. This includes more than just the properties of the product. To be
successful during the process of development and marketing of industrial products,
there must be sufficient knowledge about the factors influencing it as well as the
relative importance that is placed on it by the target market.
The aim of this study was to identify critical factors for the success of new
products in the industrial environment. These critical succfess factors were further
verified, and their rank of importance determined, in the chemical industry of South
Africa.
The results of this study can be used by product managers in the industry to
improve their new product programs in those areas which are considered as
important during and by the development and marketing processes of enterprizes.
Thirteen critical success factors, and their rank of importance, were established as
th following:
1. A superior product
2. Solid up-front homework prior to development
3. Quality technological actions
4. Quality marketing actions
5. Innovativeness
6. A ttractive markets
7. A quality launch
8. Low-risk, important purchase
9. Familiar, known arenas
10. Sharp and early product definition
11. Cross-functional team approach
12. Non-product advantage
13. High synergy
None of these factors can be ignored during the development and marketing...