Purpose – This paper contributes to our understanding of new product introduction in companies. More precisely the purpose of this study is to highlight a combination of external and internal variables that predicts whether Turkish companies (i.e. family and non-family companies) will introduce new products. The study highlights the importance of location, competition in the sector (external factors), educational level, new approaches to problem solutions and management´s commitment to support new product development both financially and emotionally (internal factors) in order to meet the aim of new product introduction. Design/methodology/approach – Taking the purpose of our study, our research was based on a quantitative research strategy. We collected data from 692 Turkish companies from Turkey and used binary logistic regression analysis to predict the introduction of new products using different predictors. Originality/value – This study provides fresh insights into external and internal factors that influence whether or not new products are introduced. The findings were obtained from Turkish companies, thus we expand our understanding of the topic in different parts of the world and at different levels of economic development respectively. Practical implications – Based on the study’s findings we propose a number of measures to better manage the process of new product introduction. These measures may be useful for companies operating in other industries and countries as well.