Development of a new technology product evaluation model for assessing commercialization opportunities using Delphi method and fuzzy AHP approach

As the number of new products developed by new technologies has increased, the importance of the commercialization of new technology products has become crucial to manufactures in the successful delivery of valuable new products and services. This study classified success factors for commercialization of new products and analyzed which factors should be primarily considered. Based on the literature review and Delphi method, we identified four decision areas and further prioritized the sixteen factors under a hierarchy model structured by fuzzy AHP (analytic hierarchy process) approach. The FAHP is conducted by 111 R&D and business experts working at the world's major players in machinery industry; using the priorities of success factors derived by FAHP, we devise an example of commercialization assessment model. The paper drives the assessment initiatives of the new product development in manufactures and provides them with practical implications about the commercialization of new technology product. (c) 2013 Elsevier Ltd. All rights reserved.