A Preliminary Strategic Marketing Framework for New Product Development ALKIS THRASSOU and DEMETRIS VRONTIS University of Nicosia, Nicosia, Cyprus HELA CHEBBI EDC-Paris, Paris, France DORRA YAHIAOUI Normandy Business School, Caen, France This article responds to the identified considerations and gaps in existing research on the way a new idea is transformed into a market-accepted new product. Utilizing the findings of an exten- sive theoretical analysis and empirical investigation on the subject, this research studies new product development within a wider stra- tegic marketing context. The research interrelates three different perspectives: the process-defining perspective, that identifies and refines the managerial implications and theoretical considera- tions; the value-defining perspective, which investigates the various types and stakeholders of value; and the context-defining (contem- porary consumer behavior and strategic marketing) perspective, which positions the entire innovation process within the compre- hensive set of environmental and organizational processes and factors. The article concludes with the development of a preliminary Contemporary Strategic Framework for New Product Development. The framework answers the various theoretical con- siderations on the subject, incorporating the various processes’ stages and interrelationships within a single descriptive system. In addition, it provides constructive functional managerial value through potential practical implementation and prescriptive interpretation. Received July 2011; revised October 2011; accepted December 2011. Address correspondence to Demetris Vrontis, School of Business, University of Nicosia, 46 Makedonitissas Avenue, Nicosia, P.O. Box 24005, Cyprus 1700. E-mail: vrontis.d@ unic.ac.cy Journal of Transnational Management, 17:21–44, 2012 Copyright # Taylor & Francis Group, LLC ISSN: 1547-5778 print=1547-5786 online DOI: 10.1080/15475778.2012.650108 21