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Design of an artificial intelligence system for predicting success of new product development and selecting proper market-product strategy in the food industry

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  • Soltani-Fesaghandis, Gholamreza
  • Pooya, Alireza

Abstract

Predicting the performance of the new product development and selecting the strategy in the case of new product development failure is an issue that has drawn the attention of the many managers. Therefore, the goal of this study is to design an integrated system of prediction of product development success and selection of a proper market-product strategy by the method of artificial intelligence in companies working in the food industry. The population of this study was 250 companies of the food industries in Iran. The inputs and outputs of the success of the new product development were obtained from the research literature. Moreover, Ansoff matrix was applied to select the market-product strategy. A questionnaire was used to collect the data in this study. The adaptive neural-fuzzy network method and the fuzzy inference system are used to analyze the data. The results show that the Chief Executive Officers of companies working in the food industry may take action to predict a new product development success before developing the new product and use alternative strategies if needed.

Suggested Citation

  • Soltani-Fesaghandis, Gholamreza & Pooya, Alireza, 2018. "Design of an artificial intelligence system for predicting success of new product development and selecting proper market-product strategy in the food industry," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 21(7), August.
    • Handle: RePEc:ags:ifaamr:284901
    DOI: 10.22004/ag.econ.284901
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    Cited by:

    1. Loureiro, Sandra Maria Correia & Guerreiro, João & Tussyadiah, Iis, 2021. "Artificial intelligence in business: State of the art and future research agenda," Journal of Business Research, Elsevier, vol. 129(C), pages 911-926.
    2. Tseng, Hsiao-Ting & Aghaali, Niloofar & Hajli, Dr Nick, 2022. "Customer agility and big data analytics in new product context," Technological Forecasting and Social Change, Elsevier, vol. 180(C).

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    Keywords

    Production Economics;

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