Identifying Key Success Factors in New Product Development of Small and Medium Enterprises: The Case of Science and Technology Parks of Tehran

Identifying critical success factors in new product development in the form of business strategies have prompted researchers to conduct researches in this field. Despite this fact, few studies have used new product development methods in existing markets of small and medium enterprises (SMEs). This research aims to fill the gap in this area. Mixed research method employed in this paper. In the qualitative method, semi-structured and open-ended interviews are perfomed and relevant documents are reviewed. In the quantitative method, questionnaire is used to gather the reguired data. The results of this study indicate that fundamental factors in the success of new product development in SMEs located in science and technology parks are classified into four categories. They comprise managerial, commercial, technical and marketing. The proposed framework classifies the critical success factors into eight major factors. The proposed factors could be helpful for managers in SMEs to save the time and reduce the costs.