Abstract
The introduction of new products is widely regarded as an essential element of competition between food companies, and the successful management of new product development a key determinant of business performance. It is estimated that the modern supermarket often carries a product range of 10 000 to 15 000 products and turns over perhaps 10% or more of these every year. A leading UK food retailer is said to have introduced around 1500 new private-label products alone in 1993, compared with 300 in 1987 (Hughes, 1994).
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Grunert, K.G. et al. (1997). A framework for analysing innovation in the food sector. In: Traill, B., Grunert, K.G. (eds) Products and Process Innovation in the Food Industry. Springer, Boston, MA. https://doi.org/10.1007/978-1-4613-1133-1_1
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