5 Key Aspects of New Product Development

Author: Lin En
Publisher:
Publish Date: 2003-08-01
Features: All companies, whether large or small, and regardless of their industry, need to develop new products and services to survive and thrive healthily. With the increasing competition domestically and internationally, the constant updating of new technologies, and the changing needs of customers, companies are facing fiercer competition than ever before. At this time, an innovative product not only can change a company's future but also can spark a series of new products, and even create a new industry. "Everyone is talking about product innovation, but no one has done more to advance it than Gary S. Lynn and Richard R. Riley in their new book, The 5 Keys to New Product Development. It features compelling stories and unexpectedly useful advice." As market competition continues to intensify, new product development has become the only prerequisite for the survival and development of businesses today. Only innovative products can change a company's future and shape a breakthrough enterprise. However, new product development is extremely challenging. After massive investments and long-term R&D processes, only a small number of new products make it to market and are accepted by consumers. This book is the result of Gary S. Lynn and Richard R. Riley's decade-long study of over 700 successful and failed new product development teams. It leverages the internal stories of more than 50 breakthrough new product development teams to explain the five key factors that rapidly transform new product development and market impact: senior management commitment; clear and stable product goals; continuous improvement; effective information communication; and close collaboration under pressure.