An exploratory survey of the use of new product forecasting models in New Zealand
The high rate of new product failure is decreased through the use of new product forecasting models (NPFMs). There is a particular lack of studies and applications of NPFMs in the NZ (New Zealand) context. The purpose of this study is to measure the extent to which NZ businesses use NPFMs comparable to the US (United States) experience. This is achieved by surveying marketing personnel on their attitudes to and reasons for not using NPFMs and on the businesses characteristics, in relation to whether NPFMs were used. Results of this study indicate that marketing management in NZ do not use NPFMs to the same extent as the US business organisations and that NZ marketers consider NPFMs to be irrelevant to their business activities. This could be due to the fact that NZ businesses are often involved in product-line extensions rather than developing truly new products.... [Show full abstract]
Keywordsnew products; new product forecasting models; new product failure; forecasting; concept tests; pre-test market models; research and development; marketing; test market models; diffusion models
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