Making the right business decision: Forecasting the binary NPD strategy in Chinese automotive industry with machine learning methods

The new product development (NPD) is crucial to firms’ survival and success. Tough decisions must be made between the binary NPD strategy (i.e. incremental NPD strategy and radical NPD strategy) to ensure that scarce resources are allocated efficiently. The inappropriate NPD strategy that does not meet the internal and external conditions may lead to resources waste and performance decline. The binary NPD strategy forecasting is helpful to guide...