An Empirical Investigation of New Product Development and Customer Retention in the Industrial Valve Industry

Gerceker, Mehmet Metin (2022) An Empirical Investigation of New Product Development and Customer Retention in the Industrial Valve Industry. DBA thesis, University of Gloucestershire. doi:10.46289/AR63NO77

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Industrial valves are extensively used across the world and considered to be essential equipment in a range of industrial plants and in all kinds of flow-related processes. Industrial valves are essential pieces of equipment in all types of industrial plants and processes where different fluids, gases and steam and solids are handled. Given their functionality, industrial valves can isolate media and control flows, and ensure the safe operation of plants. As such, there is considerable demand for these components, given their usage in operations. Industrial valve manufacturers, in general, face significant declining patterns of trade. They have been operating in an increasingly competitive environment due to the recent global recession, which was driven by unstable oil prices, weak economic growth and political instability, and recently the coronavirus pandemic and Russia-Ukraine war. These have had an impact on some emerging markets with implications for the barriers to entry faced by industrial valve manufacturers located in developing countries. In such a highly competitive environment, new product development plays an influential role in business survival and competitive advantage. The explicit aim of this research is to develop a conceptual model to detail how new product development could facilitate customer retention in the industrial valve industry. The research evaluates new product development in that specific context, and the research will set out to understand customers’ requirements with a focus on the demand side of the industrial valve industry. This research analyses customers’ behaviour and different purchasing channels for industrial valves. This will create a benchmark for understanding the nature of new product development and customer retention.

Item Type: Thesis (DBA)
Thesis Advisors:
Thesis AdvisorEmailURL
Uncontrolled Keywords: Industrial valve manufacturers; Product development; Competitive advantage; Customer behaviour; Customer retention
Subjects: H Social Sciences > HD Industries. Land use. Labor > HD2321 Industry
H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management > HD61 Risk in industry. Risk management
Divisions: Schools and Research Institutes > Gloucestershire Business School
Depositing User: Susan Turner
Date Deposited: 06 Dec 2022 16:44
Last Modified: 06 Dec 2022 16:44

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