Journal
RESEARCH-TECHNOLOGY MANAGEMENT
Volume 64, Issue 4, Pages 29-36Publisher
TAYLOR & FRANCIS INC
DOI: 10.1080/08956308.2021.1920745
Keywords
New product performance; Self-fulfilling prophecy; Expected outcomes; Market orientation; Firm innovativeness
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This article explores how expected outcomes can drive new product success and highlights the positive impact of expected outcomes on new product performance through empirical research. Expected outcomes mediate the relationship between predicted product success and actual success, leading to improved new product performance. Introducing a social psychological perspective can influence how innovative firms achieve new product success.
Overview: In new product development (NPD), practitioners and researchers have explored a variety of organizational factors, such as market orientation and firm innovativeness, that drive product success. They have not explored the role of expected outcomes on NPD. Using a social psychology perspective-a hitherto missing perspective in the NPD literature-we describe how expected outcomes can drive new product success. Specifically, we highlight how self-fulfilling prophecies are likely to impact the performance of new products favorably. Surprisingly, our results indicate that expected outcomes mediate the relationship between predicted product success and actual success, leading to improved new product performance. Introducing a social psychological perspective can impact how innovative firms accomplish new product success.
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