NEW PRODUCT DEVELOPMENT–INDUSTRY APPROACH1

1970 ◽  
Vol 33 (10) ◽  
pp. 464-480
Author(s):  
William F. Stoll
Keyword(s):  
Research And Development ◽  
New Product Development ◽  
New Technology ◽  
New Products ◽  
New Product ◽  
Market Place ◽  
Development Activity ◽  
A Company ◽  
Product Concepts ◽  
Changing Society

Vitality of our economy today stems in part from industry's activity in new products. Industries content to rest on past accomplishments have found themselves in an unfavorable competitive position. In our changing society we find changing needs. What is good for today would not have met the needs of an earlier time nor will it be sufficient for a future day. This is the philosophy which is necessary for corporate survival in our rapidly changing society. New product activity may be merely innovation of old product concepts but sufficiently new to warrant research and development activity and development expenditures. As new technology develops, new product concepts which were unfeasible become reality. Organization within a company, necessary for successful development of new products, is complex. Marketing, accounting, production, and research and development efforts must be coordinated to implement the introduction of a new product. New product activity is hazardous for there are many pitfalls. Failures are common in the market place; however, the rewards are great for the creator of a successful products.

New Product Development in Malaysia: Does Organizational Background Really Matter?

2014 ◽  
Vol 68 (3) ◽  
Author(s):  
Tan Owee Kowang ◽  
Amran Rasli ◽  
Choi Sang Long
Keyword(s):  
Product Development ◽  
Research And Development ◽  
New Product Development ◽  
New Products ◽  
New Product ◽  
Multinational Companies ◽  
Product Performance ◽  
Survey Questionnaire ◽  
New Product Performance ◽  
Npd Performance

New Product Development (NPD) is vital in assisting Research and Development (R&D) based organizations to adapt to the changes in markets and technology for competitive advantage. Ensuring the success of new products and optimization of new product performance is critical and essential for Research and Development based organizations.  Hence, this study is carried out to explore does organizational background in term of company’s ownership (i.e. local or multinational companies) and operational scales (i.e. number of Research and Development staffs) affect NPD performance of Research and Development companies in Malaysia. In line with this, 8 New Product Development performance attributes were identified from literature review. These attributes were subsequently formulated into a survey questionnaire and responded by 186 respondents. Thereafter, the effect of organizational ownership and operational scale toward NPD performance are examined separately via Independent Sample t-test and Analysis of Variance (ANOVA). Finding from the study revealed that the level of NPD performance in multinational R&D companies is higher than local R&D companies. Findings from this research also implied that NPD performance can be further improved by increasing number of R&D staffs.  

A strategy of innovation through the development of a portfolio of innovation capabilities

2014 ◽  
Vol 33 (1) ◽  
pp. 24-31 ◽  
Author(s):  
Yair Holtzman
Keyword(s):  
Competitive Advantage ◽  
New Product Development ◽  
Work Experience ◽  
New Products ◽  
New Product ◽  
Sustainable Competitive Advantage ◽  
Business World ◽  
Content Type ◽  
Novel Approach ◽  
A Company

Purpose – The purpose of this paper is to introduce the value in developing a portfolio of capabilities to fuel innovation. The author's experience suggests that a disciplined focus developing a portfolio of innovation capabilities is critical in the global competitive landscape. Traditionally, the business world has always been focussed on developing sustainable competitive advantage. This is optimal, but we find more and more situations where this notion of building a sustainable competitive advantage is no longer possible. In 2013 it is rare for a company to maintain a truly lasting advantage. Many times, the very success of the initiative drives competition, which in turn weakens the advantage. Innovation as a portfolio of capabilities that can continuously morph based on the traditional forces of the market can prove much more powerful. This paper discusses what is needed in developing a strategy for developing a portfolio of capabilities and the challenges that companies face in undertaking this goal. Design/methodology/approach – General viewpoint based upon over 20 years of consulting work experience by an expert in the field of innovation, new product development, and research and development. Findings – The relevance and importance of a novel approach to thinking about innovation is very creative and valuable to companies that are constantly struggling with the development of new products. Practical implications – This is a novel approach to thinking about developing new products, capabilities, or services within an organization. Originality/value – The paper is extremely valuable in that it highlights a new way to think about developing innovation and new product capabilities, new product features, in a competitive global environment.

Incorporating technology into new products

1988 ◽  
Vol 2 (4) ◽  
pp. 239-243
Author(s):  
John P. Klus ◽  
Rolf Killingstad
Keyword(s):  
Research And Development ◽  
New Technology ◽  
New Products ◽  
New Product ◽  
New Product Introduction ◽  
Product Introduction ◽  
Marketing Organization ◽  
New Markets

For industry to remain competitive in the marketplace, it is essential to use research and developing technology to the fullest extent in developing new products and improving existing products. Both new technology and new markets must be developed. Corporations may perform research and development in-house or avail themselves of the technology developed by universities and other institutions described in published papers and reports. To be successful new product introduction must be carefully planned and take advantage of emerging needs and the unique capabilities of the marketing organization.

scholarly journals The value of customer involvement in new product development for company

Marketing ◽  
2020 ◽  
Vol 51 (4) ◽  
pp. 271-282
Author(s):  
Mirjana Gligorijević ◽  
Jovan Rusić
Keyword(s):  
Product Development ◽  
New Product Development ◽  
New Products ◽  
New Product ◽  
Market Size ◽  
Local Market ◽  
Customer Involvement ◽  
The Past ◽  
Development Processes ◽  
A Company

Modern companies are facing much tougher competition than before. In the past, companies were competing, mostly with other companies locally. Now companies can offer their products to customers beyond the local market. Globalization presents a huge chance for companies to grow by an increase in the market size, but as the market size grows, the same happens with the competition. If a company wants to endure, a company is under pressure to innovate, and including customers can affect new product development. The goal of this paper is to determine if including consumers in new product development can affect faster and better quality new product development processes and increase new product value for the company. This analysis should provide us with an answer to the question, should we include consumers, and if we should, when? The results of this paper could act as a guide for managers in developing new products.

How to successfully introduce concurrent engineering into new product development?

2020 ◽  
pp. 1063293X2096792
Author(s):  
Lidija Rihar ◽  
Tena Žužek ◽  
Janez Kušar
Keyword(s):  
Project Management ◽  
Product Development ◽  
New Product Development ◽  
Concurrent Engineering ◽  
Development Time ◽  
New Products ◽  
New Product ◽  
Low Costs ◽  
A Company ◽  
Reduced Time

Today, three conditions are crucial for a company to be competitive on the market: quality, reduced time and low costs for the development of new products. The paper shows how companies developing new products (NPD) for the market can successfully implement concurrent engineering as an improvement of project management, in order to reduce product development time and costs and to ensure the quality expected by customers. The methodology presented in this paper is based on three main pillars of knowledge: project management, teamwork and concurrent engineering. The methodology provides a step-by-step guideline for the introduction of concurrent engineering in a company. This paper also presents the results of 10 Slovenian companies where this methodology has been tested on 20 pilot projects. The results show that managed projects upgraded with the principles of concurrent engineering lead to cost reduction, shorter development time and fewer discrepancies.

Entrepreneurial Bricolage and New Product Development Performance in New Ventures: The Contingent Effects of Founding Team Involvement

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Xinchun Wang ◽  
Xiaoyu Yu ◽  
Xiaotong Meng
Keyword(s):  
Product Development ◽  
New Product Development ◽  
Resource Constraints ◽  
New Ventures ◽  
New Products ◽  
New Product ◽  
Strategic Decision ◽  
Entrepreneurial Bricolage ◽  
Founding Team ◽  
Npd Performance

Abstract New product development (NPD) performance is a key determinant of a new venture’s success. However, compared with established firms, new ventures often suffer from resource constraints when developing new products. Entrepreneurial bricolage is reported in the literature as an alternative strategic option that enables managers to overcome resource constraints when developing new products. However, because new ventures are often founded by an entrepreneurial team, the effectiveness and efficiency of using bricolage to improve NPD performance might be contingent on how the founding team plays its roles in this process. Using data from 323 new ventures in China, we find support for the critical role of entrepreneurial bricolage in improving NPD success under resource constraints. More importantly, our results reveal that the bricolage strategy is more likely to benefit a venture when the founding team is composed of members with diverse functional backgrounds and is not heavily involved in strategic decision-making.

Meta4acle: Generating Compelling Metaphors for Design

2008 ◽  
Author(s):  
Erik M. W. Kolb ◽  
Jonathan Hey ◽  
Hans-Ju¨rgen Sebastian ◽  
Alice M. Agogino
Keyword(s):  
Product Development ◽  
Case Studies ◽  
New Product Development ◽  
Team Member ◽  
New Products ◽  
New Product ◽  
Design Teams ◽  
Exploration Tool ◽  
Design Case ◽  
Positive Results

Metaphors have successfully been used by new product development and design teams to help frame the design situation and communicate new products to stakeholders. Yet, the process of finding a compelling metaphor often turns upon stumbling upon it or a flash of insight from a team member. We present Meta4acle: a Metaphor Exploration Tool for design that suggests possible metaphors to make the process more one of ‘seeking out’ than ‘stumbling upon’ an effective metaphor. The tool takes data about the project in the form of a title, domain and key associations required of the metaphor and returns suggestions from a database of possible metaphor sources. We built a Meta4acle prototype and evaluated it with positive results for three existing design case studies. We present plans for its full implementation and evaluation.

scholarly journals The impact of information management in developing new products in bank – an empirical analysis

2021 ◽  
Vol 54 (3-4) ◽  
pp. 197-206
Author(s):  
Zoran Najdanović ◽  
Natalia Tutek
Keyword(s):  
Product Development ◽  
Information Management ◽  
New Product Development ◽  
New Products ◽  
New Product ◽  
Business Decisions ◽  
Customer Preferences ◽  
The Right ◽  
The Impact

Successful information management is big challenge for any organization. In this paper the emphasis is on information management in new product development in bank. Under strong pressure from competition and new technological changes, as well as the turbulent changes in the environment, financial institutions must continuously develop new products and services. In order to make the services more interesting to the users, it is necessary to collect data about the users, their wishes and preferences. The data should then be converted into useful information that will result with developing the right product or service that users will recognize as necessary. Products become personalized, user-friendly, and the emphasis is on the importance of long-term company relationships with customers. Only with well-organized information, managers can make the right business decisions and companies can react in time to market changes. When creating their strategy, successful companies analyze and identify elements that significantly contribute to creating a competitive advantage and ensuring long-term growth and development. The paper presents an empirical research of customer preferences which lead to new product development in bank.

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