Low Cost Product Development Framework for Micro Sized Enterprises: Some Indonesian Evidence

As one of the key success of a business, improving new product development process is very important. Many studies discussed the product development process, but few focusing on how to develop a low cost product. In a high competition market where price is sensitive, like for micro businesses, low cost is essential. This study aims to propose a new framework of successful low cost new product development process for micro sized enterprises. The factors to be considered are product strategy in the plan/design phase, sourcing, supply, production, and distribution strategy. To give an in-depth and comprehensive overview about the process, this study uses multiple case study.