Study of Key Success Factors in New Product Development Process in Indian Smes:With Special Reference to Chemical Industries of Sarigam

The value of new product development to the performance of firms has led to numerous studies conducted to identify the critical or successful factors. However, most of these studies were conducted in the developed countries or for large organization relatively little is research found about how small and medium-size enterprises (SMEs); develop new products in many of the emerging markets. This paper tries to bridge the gap by examining the key success factors of NPD in Indian SMEs. The research is based on a sample of 30 SMEs located in a medium developed region and Chemical Zone of (Sarigam) western India. The main objective of this research is to examine the key success factors in each stage of new product development and their relative importance. Findings of this research are the firm is not regard finance as important factors and concentrate more on marketing factors.