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Use of Social Media Applications for Supporting New Product Development Processes in Multinational Corporations

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  • Bashir, Naheed
  • Papamichail, K.Nadia
  • Malik, Khaleel

Abstract

This paper examines the use of social media in new product development (NPD) processes. It is based on an in-depth study of multinational corporations (MNCs) around the world in the fast moving consuming goods (FMCG) sector. In order to obtain an in-depth understanding on the subject, a qualitative approach has been adopted to collect and analyse the data. The results suggest that social media can be viewed as an informal source for gaining an understanding of customers' preferences, competitors' activities, market trends and product feedback.

Suggested Citation

  • Bashir, Naheed & Papamichail, K.Nadia & Malik, Khaleel, 2017. "Use of Social Media Applications for Supporting New Product Development Processes in Multinational Corporations," Technological Forecasting and Social Change, Elsevier, vol. 120(C), pages 176-183.
    • Handle: RePEc:eee:tefoso:v:120:y:2017:i:c:p:176-183
    DOI: 10.1016/j.techfore.2017.02.028
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