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The fundemental challenge in the competitive world is how firms achieve and sustain competitive advantage. This question leads to market-driven firms. The base of market-driven firm is that the market and customers should be the starting point in business strategy formulation. Researchers regard market learning capability as a distinctive capability of this kind of organizations. In other dimension, in the field of strategic management, research and development (R & D) is determined as an innovative capability in Resource Based View (RBV) literature. The organizations that emephesize on R & D capability have high performance in New Product Development (NPD). Therefore with importance of mentioned topic, in this paper, the process of innovative product development based on market learning is introduced. The components of this process are explained in each step and the effect of this process on NPD is determined.