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New products are the lifeblood of organizations. Successful new products create new organizations, grow existing organizations, raise living standards, and generate wealth. Without new products, entrepreneurial ventures will never come to life and established firms will soon perish. Given the critical importance of new product development, marketing researchers have devoted considerable attention to investigating this topic. In this handbook, we bring together the world’s thought leaders on new product development with two overarching goals in mind. First, we seek to compile existing knowledge on new products research in a single source. We hope this will aid researchers and business practitioners in their efforts to become familiar with state-of-the-art knowledge in this area. The second overarching objective is to expand the boundaries of our knowledge. The authors of the handbook’s chapters identify numerous previously unaddressed research questions that provide opportunities to advance our understanding of new product development. Moreover, in this opening chapter, we outline broad areas of new product development research that are underrepresented in marketing. Each of these areas could benefit immensely from the insights a marketing perspective offers. Furthermore, in an effort to spur additional research, we developed a conceptual framework of the antecedents of new product performance. New product performance is the key outcome of the new product development process and can be measured by firm profits, market share, stock market return, survival rate, and other metrics. In this framework, we propose that new product performance is determined by markets, customers, organizations, and the environmental context within which these entities exist. We map the handbook chapters into this framework so that readers can understand where current research exists to inform these relationships. Moreover, this framework illustrates many additional opportunities for enhancing current knowledge on the antecedents of new product performance. Before describing these opportunities for new research, we begin our chapter with an overview of the handbook chapters. We organize these chapters into handbook parts according to the five common stages of the new product development process:

New product development research: consolidating the present and guiding the future