Artificial Intelligence and Digital Transformation in New Product Development: Evidence from the Saudi Arabian Retail Market | Chapter 3 | New Advances in Business, Management and Economics Vol. 10

 

Saudi Arabia is experiencing a rapid digital transformation, driven by its Vision 2030 initiative, aimed at diversifying the economy and reducing reliance on oil. In the fast-evolving landscape of global business, understanding the dynamics of Artificial Intelligence (AI) role and the digital transformation of New Product Development and Launch (NPDL) is critical for continuous success. The present book chapter explored the established methodology adopted to develop and launch new products in Saudi Arabia with a particular focus on insight into retail marketing management. This study presents a detailed case study of Almarai and Aujan Coca-Cola Beverages Limited companies of Saudi Arabia. The data was gathered from retail managers at two major companies actively involved in the NPDL process. Both firms utilise the Stage-Gate methodology, widely regarded as a leading NPD framework. The Stage-Gate is arguably the greatest and most experimentally implemented new product development (NPD) methodology, providing a competitive edge in the age of competition, even though it has changed over time. Both the companies adopted a prescribed Stage-Gate process, but Aujan has implemented this methodology more effectively than Almarai, likely due to Aujan having greater expertise in using the Stage-Gate framework.  All of the operation executives at Almarai and Aujan come to the same conclusion: Stage-Gate is a mechanism that makes it easier for the operation team to carry out the entire process of developing and launching a new product in a way that makes it profitable. Aujan got the benefits of an NPDL mechanism based on the Stage-Gate process since the inception of globalisation, when it faced the heat of competition. The 5-Milestones are proven very helpful in improving the organisation’s representative character, functional adequacy and financial viability. The study concludes by emphasising the critical role of sales and retail operations planning—especially in demand forecasting—and highlights the importance of continuous review and strategic refinement of the NPDL process to remain competitive in an increasingly digital and globalised retail environment.

 

 

Author(s) Details

Mohammad Naquibur Rahman
College of Business, Alasala University, Dammam, Saudi Arabia.

 

 

Please see the book here:- https://doi.org/10.9734/bpi/nabme/v10/6118