New Products — Strategies and Risks for Smaller Firms Available to Purchase

Despite the attractions and high profit or growth potential of expansion by new products into new markets, smaller firms, particularly the specialist resource and general sub‐contractors, should think very carefully before committing a high proportion of their resources into developing new products that lead them into new market areas beyond their current experience. The skills of the small marketer—the goal of many new product introductions—can take a long time to acquire.