Investigating the Effect of Innovation Strategy on Performance of New Product Development with Emphasis on the Role of value co-creation strategy (Case Study: Private Insurance Companies)

The purpose of this study was to investigate the effect of innovation strategy on the performance of new product development, with emphasis on the value co-creation strategy in Tehranchr('39')s private insurance companies. The research method is descriptive-correlational. The research community was senior managers in five areas of insurance (liability, fire, automobile, freight and machinery) in the city of Tehran, which included 100 people. In this research, random sampling method was used, 80 managers were selected as sample. Data were collected through a standard questionnaire 48 questions from 79 managers and experts in 17 active companies in the insurance industry in Tehran. Validity of the research questionnaire was confirmed by the experts and reliability of the questionnaires was confirmed based on Cronbachchr('39')s alpha coefficient. The conceptual model was designed with five variables and ten hypotheses. Descriptive statistics were analyzed by SPSS-24 software and statistical characteristics such as frequency, percentage, mean and standard deviation, tables and charts were presented and then SMART-PLS software was used to test the hypotheses. The results of the research including path coefficients between variables and the significance of t (β = 0.436 t = 4.63) and intermediary effect analysis have shown that there is a significant and direct relationship between the innovation strategy and the performance of the new product development and the role of mediation in the value co-creation strategy Not verified. Also, the impact of mediation between the two variables of design strategy and marketing strategy is not confirmed by the relationship between the innovation strategy and the performance of the new product development.