Managing New Product Development In The Chinese Steel Industry: An Empirical Investigation

This paper explores several important aspects of the management of New Product Development (NPD) in the Chinese steel industry. Specifically it explores NPD success factors, importance of management functions to new product success and measures of new product success from the perspective of the industry's practitioners. Based on a sample of 190 industrial practitioners from 18 Chinese steel companies, this paper provides a mixed picture as China makes the transition from a centrally-controlled to market-based economy. On one hand, respondents ranked understanding users' needs as the most important factor influencing the performance of the new products. Further, formulating new product strategy and strengthening market research are perceived as the most important managerial functions in NPD.