New product development key to NZ success offshore

New product development key to NZ success offshore

New product development is what drives New Zealand companies to crack the international market, says an AUT University innovation academic.

Success of organisations Rakon, 42 Below and Frucor Beverages with its drink V, has hinged on innovative products and approaches to marketing, says Associate Professor Simon Mowatt.

"Kiwi companies engage in all aspects of the new product development process," he says. "From their ability to adapt products to new markets, improving product designs and manufacturing processes, and even to forging new product markets."

"National firms driven by innovation such as Fonterra and Rakon are major players within their industries globally. Multinational firms have also sought local expertise in innovation by acquiring firms such as Frucor and 42 Below."

This June, a new business forum will reveal how others can follow in their footsteps.

ZED Innovation & New Product Development Forum 2008 is the first in a series of annual events presented by the AUT Business School.

Delegates will hear from New Zealand's leading business leaders from our country's top organisations including Rakon chairman Bryan Mogridge, Nova Gas founder Hans van der Voorn, iVista founder Craig Meek, Frucor group managing director Mark Cowsill and Gen-i managing director Chris Quin.

Associate Professor Mowatt says 42 Below is an example of how innovation in product development and marketing can result in small national firms succeeding in creating something new in the market against some of the world's most highly-resourced and aggressive companies.

"Other companies such as Methven illustrate that new product development can result in superior world-leading products in niche product markets such as shower technology," he says.

"The new product development process is something which companies need to be aware of as one of the key value-adding processes for competitive advantage."

Notes for Editors:
AUT Business School presents
ZED Innovation and New Product Development Forum 2008
When: Thursday June 5
Where: New Zealand Room, SKYCITY Convention Centre, Auckland

For more information about ZED and to register, please go to: www.ZEDforum.co.nz

ENDS

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