Success Factors for Product and Service Innovation: A Critical Literature Review and Proposed Integrative Framework

This paper presents a critical but integrated overview of the factors that play a role in success product and service innovation respectively. The difference between service and product innovation is highlighted. The factors are drawn from a wide and diverse body of academic literature and classified into one of four categories namely strategic, organization, market and development factors. The integrated and summarized overview of critical success factors for innovation should be of considerable importance, not only to practitioners but also for researchers wishing to build an integrated and comprehensive framework for service or product innovation.