Agile and Frugal Innovation: Vehicare’s rapid response to Covid-19
This content relates to : NEW PRODUCT & SERVICE DEVELOPMENT READ MORE>> Mark Andreae Clarke Power Systems My name is Mark Andreae, I’m the Executive Chairman of Clarke Power Systems Inc. in Cincinnati, Ohio and what I’d like to talk about today is innovation. Innovation is, is … has two things; it’s cultural and it’s process. […]
Looking to Increase the Marketing & Financial Success Odds of New Products & Services?
This content relates to : NEW PRODUCT & SERVICE DEVELOPMENT Peter Klein ‘68 and Harvard Business School (MBA, ‘71). He founded PK Associates, a consumer products focused growth management consultancy after serving as Corporate Officer at The Gillette Company and at Nabisco Holdings Corp. He co-authored the book THINK TO WIN — Unleashing the Power of Strategic Thinking, […]
Seeking Favorable Consumer Responses to New Products? Use Product Design
This content relates to : NEW PRODUCT & SERVICE DEVELOPMENT Charles Noble The University of Tennessee Knoxville Although product design has been linked with positive behavioral and psychological consumer responses such as choice and attraction respectively, extant research on product design has been highly fragmented. Against this background, this paper seeks to accomplish two important goals: (1) delineate the key dimensions of design in order […]
New Product Development Best Practices: Reality Vs Prescription
This content relates to : NEW PRODUCT & SERVICE DEVELOPMENT Gloria Barczak Northeastern University This paper seeks to examine whether NPD practitioners (not just researchers) are aware of and able to implement NPD best practices designated by noteworthy studies. Answering this question contributes to our understanding of the diffusion of NPD best practices knowledge to NPD professionals, identifying […]
Want to Maintain Your First-Mover Advantage? Innovate into New Markets
This content relates to : NEW PRODUCT & SERVICE DEVELOPMENT Jonathan Bohlmann NC State University Established firms often have trouble maintaining an innovation streak they may have enjoyed in their earlier years. Tesla seems to be outrunning the legacy car companies, and even Apple gets accused of not being innovative enough anymore in its new products. Incumbent […]
Want to Have a Successful NPD Alliance?Follow a Four Stage Process
This content relates to : NEW PRODUCT & SERVICE DEVELOPMENT Murray R. Millson Monterey Bay New Product Development (NPD) can be an expensive and risky endeavor. But several forms of cooperative NPD strategies and organizations are available to support new product development processes in innovative/entrepreneurial organizations. In particular, strategic alliances, i.e., formal or informal “cooperative” organizational arrangements, can facilitate the joint development, launch, and commercialization of new […]
Wither the In-House Research and Development (R&D) Lab? Not So Fast!
This content relates to : NEW PRODUCT & SERVICE DEVELOPMENT Jason Pattit University of St. Thomas In 1946, nearly 84% of the 200 largest U.S. manufacturing firms had established their own R&D labs, ushering in a golden era for in-house R&D after World War 2. However, starting in the 1980s, firms began to experiment with R&D alliances and joint ventures. Some suggest that this approach was actually a return to the norm […]
Want to Boost Innovation Success? R&D-Market Integration is Critical
This content relates to : NEW PRODUCT & SERVICE DEVELOPMENT Ashok Gupta Professor Emeritus, Ohio University Because innovation is a multidisciplinary process, it requires effective inter-functional coordination. In particular, integration of the R&D and marketing departments is critical to new product success. Against this background, this paper proposes a framework to understand three questions: (1) How much integration is required between R&D and marketing?, (2) How much integration is achieved?, and (3) How […]
Want to Enhance an Innovation’s Value? Consider Indirect Network Externalities
This content relates to : NEW PRODUCT & SERVICE DEVELOPMENT Amiya Basu Syracuse University The value of a product to a customer and the price the customer is ready to pay for the product often depends not only on the features of the product itself, but also on factors external to the product. One example of such external factors, called externalities, […]
Want to Accelerate NPD? Adopt These Five Approaches
This content relates to : NEW PRODUCT & SERVICE DEVELOPMENT Murray Millson California State University Based on an in-depth review of extant literature in several academic domains including marketing, business, strategy, manufacturing, and organization management, we suggest five major New Product Development (NPD) acceleration approaches that can be employed by most organizations that plan to expeditiously develop and launch new products. The five acceleration approaches derived from this research include simplifying processes, eliminating process delays, […]