Impact of contextual factors on new product development process : evidence from a large company in Thailand

This research investigates the impacts of contextual factors, including organization-, project-, product-, and market-related factors, on New Product Development (NPD) process and explores how these factors shape the NPD process of the company within a specifc context-a large-sized company in Thailand. By interviewing 11 managers from a large-sized company in Thailand, the fndings reveal diferent impact of the contextual factors on the company's NPD process. Based on these findings, we develop a practical NPD model to overcome company-specifc challenges and, consequently, ofer valuable insights to enhance the NPD process in similar contexts. Importantly, our fndings suggest that innovative companies should strategically integrate the route-to-market for radical innovation into their NPD process because it enhances the customer perception of the innovation's value before commercialization, leading to the success of NPD. Our empirical evidence flls the gaps in the literature regarding the practical confguration of NPD processes in developing countries as well as large-sized companies, acknowledging the variation in the NPD process that depends on contextual factors where innovation occurs. It also provides detailed insights beyond most existing studies that investigate correlation of factors with the NPD process and ofers practical implications for management involved in the NPD process, emphasizing the need for contextual awareness in formulating efective NPD strategies.