An Innovative Approach to New Product Development in Textile and Diamond SMEs of Surat
Published: 2018
Author(s) Name: Rashvin Tailor and Manisha Panwala |
Author(s) Affiliation: Assist. Prof., SRIMCA MBA, Uka Tarsadia University, Bardoli, Gujarat, India.
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Abstract
The emergence of innovative SMEs has been a distinct feature of Industry in the
developing countries. Many of the emerging firms are small and medium
enterprises (SME). The Indian Textile SMEs, in particular, have been at the
significant of making investment. Thisresearch empirically studied the impact of
marketing factorsof the NPD of SMEs. The paper also explores the effect of size of
the firm and importance of marketing factors. Based on 532 Textile SMEs of Surat,
the paper conclude that all the factors are not equally important in all three stage
of new product development by using Small and Medium Size Enterprise
(Investment in Plant and Machinery), except the product has competitive
advantage, and there is potential marketing channel plans shows importance in all
three stages.
Keywords: NPD, Key Success Factors, Marketing Factors, SMEs.
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