Beyond the firm's initial declaration: Are preannouncements of new productintroductions and withdrawals alike?

Previous preannouncement research has primarily focused on product preannou ncements regarding the firm's intention to introduce a new product and, for the most part, has ignored preannouncements that update the status of new product introductions (e.g., delays in launch dales and cancellation of new product programs). This study's goal is to examine if different factors in fluence preannouncements of new product introductions (NPIs) versus new pro duct withdrawals or delays (NPWs). A model of six antecedents that could in fluence a firm's propensity to issue NPIs and NPWs is developed and tested using a sample of 265 CEOs and Presidents from manufacturers of new product s. Three of the antecedents are organizational in nature; specifically, fir st mover predisposition, firm information interactivity, and reputation bui lding. Also, the effects of two environmental constructs, industry innovati veness and competitive hostility, are examined. Finally, the model incorpor ates the effect of buyer involvement on a firm's propensity to issue NPIs a nd NPWs. The results indicate that NPIs and NPWs are very alike regarding t heir antecedent factors. Reputation building, defined as a firm's tendency to pursue a high profile leadership position within its industry, and buyer involvement are the primary motivators of a firm's propensity to issue bot h NPWs and NPIs. Future directions for research include the development of a normative preannouncement framework and the examination of NPIs and NPWs as nonadvertising forms of marketing communication targeted at numerous aud iences such as buyers, employees, channel members, industry influencers (e. g., business and trade related press), and investors. (C) 2001 Elsevier Sci ence Inc. All rights reserved.