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This study explores the link between the level of importance managers assign to competitive pressures from domestic competition, foreign competition and customers as factors in the key business decisions related to innovation and the outcome of firms' product innovation efforts.

The research sample is taken from the Business Environment and Enterprise Performance Survey by World Bank (2005). The relevant questions for the study were extracted from the survey. Logistic regression models were used for analysis using the ISLR library from R statistical software.

Managers' consideration of customer pressure for innovation as important in key business decisions related to innovation has a positive and sustainable effect, distinct from that of R&D and other innovative activities, on firms' success of product innovation efforts.

The research acknowledges the need to verify the findings in a multicountry setting.

This research can help mediate the managers' assignment of importance to certain types of competition for innovation decisions in multicompetitive environment for improved success of product innovation efforts.

Simultaneous consideration of multiple competitive pressures by managers helps to identify the most suitable innovation activities for their respective firms and improve the chances of success of firms' innovation efforts.