IDEAS home Printed from https://ideas.repec.org/a/abw/journl/y2018id771.html
   My bibliography  Save this article

Developing a new product development & launch process. Case: pharmaceutical market

Author

Listed:
  • D. N. Savin

Abstract

Projects on development and a conclusion of new products to the market remain one of the most demanded in practice of the modern companies. In case of their successful realization the companies manage to increase significantly a market share, to attract new consumers, to raise level of the innovative activity, and also to improve financial performance. At the same time a fact of common knowledge is the high share of unsuccessful projects in the field of a conclusion of new products to the market, especially it is characteristic for pharmaceutical branch. Therefore, the purpose of this article is identification of the main channels of obtaining information by the consumer about innovative products, and; definition of the factors having impact on consumers at a choice of new products in the pharmaceutical market. As a result of research it is revealed that two components belong to factors of success of an innovative product: technical, defining high usefulness of an innovative product, and marketing, considering criteria of a choice of goods of consumers. In work it is shown that the majority of consumers as B2B, and B2C of segments during making decision on purchase rely on such source of information as the Internet. Thus, effective communication with potential consumers on the Internet will be one of major factors of success of start of a new product. Following the results of the conducted research it was defined that the main factors allocating an innovative pharmaceutical product are completeness of information on it, and also high level of client support. In this connection, for satisfaction of requirements, it is offered to start a hotel independent platform of support of start of an innovative product which will include: full information on properties of a product; all necessary technical documentation, and also the section devoted to support of potential clients. Practical realization of results of the conducted research is shown on the example of development of strategy of advance innovative BIOCAD company products.

Suggested Citation

  • D. N. Savin, 2018. "Developing a new product development & launch process. Case: pharmaceutical market," Strategic decisions and risk management, Real Economy Publishing House, issue 2.
    • Handle: RePEc:abw:journl:y:2018:id:771
    DOI: 10.17747/2078-8886-2018-2-50-61
    as

    Download full text from publisher

    File URL: https://www.jsdrm.ru/jour/article/viewFile/771/644
    Download Restriction: no
    File URL: https://www.jsdrm.ru/jour/article/viewFile/771/668
    Download Restriction: no
    File URL: https://libkey.io/10.17747/2078-8886-2018-2-50-61?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. V. Krishnan & Karl T. Ulrich, 2001. "Product Development Decisions: A Review of the Literature," Management Science, INFORMS, vol. 47(1), pages 1-21, January.
    2. S. V. Aleksa & Y. V. Volodin, 2017. "Approaches To Formation Of Methodology For Assessment Of Effectiveness Of Mobile Applications Development And Implementation," Business Strategies, Real Economy Publishing House, issue 4.
    3. A. V. Trachuk & N. V. Linder & D. A. Antonov, 2014. "Impact Of Information And Communication Technologies On Business Models Of Modern Companies," Strategic decisions and risk management, Real Economy Publishing House, issue 5.
    4. Trachuk, Arkady & Linder, Natalia, 2017. "The adoption of mobile payment services by consumers: An empirical analysis results," Business and Economic Horizons (BEH), Prague Development Center (PRADEC), vol. 13(3).
    5. Arkady Trachuk, & Natalia Linder, 2017. "The adoption of mobile payment services by consumers: an empirical analysis results," Business and Economic Horizons (BEH), Prague Development Center, vol. 13(3), pages 383-408, July.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Wei-Lun Chang & Li-Ming Chen & Takako Hashimoto, 2022. "Cashless Japan: Unlocking Influential Risk on Mobile Payment Service," Information Systems Frontiers, Springer, vol. 24(5), pages 1515-1528, October.
    2. A. V. Trachuk & N. V. Linder, 2018. "Fourth Industrial Revolution: How The Internet Of Things Influenceson Industrial Business Relationships?," Strategic decisions and risk management, Real Economy Publishing House, issue 3.
    3. V. L. Dostov & P. M. Shust & A. A. Khorkova, 2018. "Potential of decentralized interbank settlements using blockchain," Strategic decisions and risk management, Real Economy Publishing House, issue 2.
    4. Ninko Kostovski & Marjan Bojadjiev & Hari Lokvenec, 2017. "Decision Support Systems For New Project Development In Fast Moving Consumer Goods Industries," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 5, pages 4-14, October.
    5. Manuel E. Sosa & Steven D. Eppinger & Craig M. Rowles, 2004. "The Misalignment of Product Architecture and Organizational Structure in Complex Product Development," Management Science, INFORMS, vol. 50(12), pages 1674-1689, December.
    6. Christoph Grimpe & Wolfgang Sofka & Andreas P. Distel, 2022. "SME participation in research grant consortia—the emergence of coordinated attention in collaborative innovation," Small Business Economics, Springer, vol. 59(4), pages 1567-1592, December.
    7. Lenfle, Sylvain & Midler, Christophe, 2009. "The launch of innovative product-related services: Lessons from automotive telematics," Research Policy, Elsevier, vol. 38(1), pages 156-169, February.
    8. Donald Gerwin & Nicholas J. Barrowman, 2002. "An Evaluation of Research on Integrated Product Development," Management Science, INFORMS, vol. 48(7), pages 938-953, July.
    9. Zhang, Yibin & Hafezi, Maryam & Zhao, Xuan & Shi, Victor, 2017. "Reprint of “The impact of development cost on product line design and its environmental performance”," International Journal of Production Economics, Elsevier, vol. 194(C), pages 126-134.
    10. Hazhir Rahmandad & Nelson Repenning, 2016. "Capability erosion dynamics," Strategic Management Journal, Wiley Blackwell, vol. 37(4), pages 649-672, April.
    11. Eleanor McDonnell Feit & Mark A. Beltramo & Fred M. Feinberg, 2010. "Reality Check: Combining Choice Experiments with Market Data to Estimate the Importance of Product Attributes," Management Science, INFORMS, vol. 56(5), pages 785-800, May.
    12. Siddhartha Sampath & Esma S. Gel & John W. Fowler & Karl G. Kempf, 2015. "A Decision-Making Framework for Project Portfolio Planning at Intel Corporation," Interfaces, INFORMS, vol. 45(5), pages 391-408, October.
    13. Rajiv D. Banker & Indranil Bardhan & Ozer Asdemir, 2006. "Understanding the Impact of Collaboration Software on Product Design and Development," Information Systems Research, INFORMS, vol. 17(4), pages 352-373, December.
    14. Lee, Seungrae & Park, Seung Jae, 2020. "Who should lead carbon emissions reductions? Upstream vs. downstream firms," International Journal of Production Economics, Elsevier, vol. 230(C).
    15. Ebina, Takeshi & Matsushima, Noriaki & Shimizu, Daisuke, 2015. "Product differentiation and entry timing in a continuous time spatial competition model," European Journal of Operational Research, Elsevier, vol. 247(3), pages 904-913.
    16. Tobias K.P. Holmqvist & Magnus L. Persson, 2003. "Analysis and improvement of product modularization methods: Their ability to deal with complex products," Systems Engineering, John Wiley & Sons, vol. 6(3), pages 195-209.
    17. Christian Terwiesch & Yi Xu, 2008. "Innovation Contests, Open Innovation, and Multiagent Problem Solving," Management Science, INFORMS, vol. 54(9), pages 1529-1543, September.
    18. Bookhagen, Andrea & Sperber, Sonja, 2017. "Kundenintegration in den Entwicklungsprozess von Produktinnovationen durch Crowdsourcing," PraxisWISSEN Marketing: German Journal of Marketing, AfM – Arbeitsgemeinschaft für Marketing, vol. 2(01/2017), pages 21-37.
    19. Wallace J. Hopp & Xiaowei Xu, 2005. "Product Line Selection and Pricing with Modularity in Design," Manufacturing & Service Operations Management, INFORMS, vol. 7(3), pages 172-187, August.
    20. Eleonora Bartoloni & Maurizio Baussola, 2015. "Persistent Product Innovation and Market-oriented Behaviour: the Impact on Firms' Performance," DISCE - Quaderni del Dipartimento di Scienze Economiche e Sociali dises1505, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:abw:journl:y:2018:id:771. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ООО Ð˜Ð·Ð´Ð°Ñ‚ÐµÐ»ÑŒÑ ÐºÐ¸Ð¹ дом Â«Ð ÐµÐ°Ð»ÑŒÐ½Ð°Ñ Ñ ÐºÐ¾Ð½Ð¾Ð¼Ð¸ÐºÐ°Â» (email available below). General contact details of provider: https://www.jsdrm.ru/jour/about/journalSponsorship .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.