New Product Development: The Perspective of SMES in Malaysia

  • Siti Sarah Omar Faculty of Technology Management & Business University Tun Hussein Onn Malaysia
  • Nazarudin Bujang Faculty of Technology Management & Business University Tun Hussein Onn Malaysia
  • Ahmed saleh Ahmed Saif Al-Shameri Faculty of Technology Management & Business University Tun Hussein Onn Malaysia
  • Mohamad Khairul Department of Electrical Engineering, University Tun Hussein Onn Malaysia, Johor, Malaysia
Keywords: Small Medium Enterprise, New product development, Commercialization, Threat of substitutes.

Abstract

Small Medium Enterprise (SMEs) are growing rapidly in Malaysia and are the backbone of economic growth. Until today, there are more than 1 million SMEs company registered. The purpose of this research is to determine the best competitive forces and the best practices of New Product Development (NPD). The Porter’s Five Forces Theories or dimensions have been used to determine the competitive forces which is effective for new product development. The targeted population was the top level SME companies in the Southern Region of Malaysia and they are the producer of food and beverages. Data have been collected from 40 top level managers of the selected SME companies using quantitative method. The findings revealed that the best NPD practice is the commercialization, while the best sales competitive forces is threat of substitutes. The owners of the SMEs are recommended to transform their marketing strategies and product innovation to achieve their target and success in the future.

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Published
22-01-2021
How to Cite
Omar, S. S., Bujang, N., Al-Shameri, A. saleh A. S., & Khairul, M. (2021). New Product Development: The Perspective of SMES in Malaysia. Journal of Techno Social, 12(2), 60-68. Retrieved from https://publisher.uthm.edu.my/ojs/index.php/JTS/article/view/6946
Section
Articles