Authors:
Mohitul Shafir
1
;
Partho Saha
1
;
Ahnaf Araf
1
;
Shadat Haque
1
;
Mahady Hasan
1
;
Farzana Sadia
1
and
M. Rokonuzzaman
2
Affiliations:
1
Independent University, Bangladesh, Dhaka, Bangladesh
;
2
North South University, Dhaka, Bangladesh
Keyword(s):
Radical Innovation, New Product Advantage, Customer Unfamiliarity, Hypothesis Model, Marketing Performance.
Abstract:
This research focuses on the factors that influence the manner in which profoundly innovative businesses develop new products. A sample size of 96 individuals, including managers, software developers, marketing officers, and proprietors, was chosen to respond to a questionnaire containing twenty inquiries regarding the organization’s marketing strategy, the benefits of the new product, and the level of consumer awareness regarding the product. Using a structured questionnaire, the authors gathered data for this study from a sample of 27 companies engaged in the development of software marketing products and services. The result illustrates the benefits of novel products, which are associated with the product’s radical nature and business performance. Personal interviews, phone interviews, and Google Forms surveys collected data on organizations’ new product marketing tactics and consumer reactions. Drawing upon previous research on product innovations, this study presents a theoretic
al framework that establishes a connection between the radicalness of product innovation, market performance, and internal and external relations characteristics of organizations.
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