The new new product development game

Management Science, 1996

JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact [email protected]. This content downloaded from 128.91.R eduction of new product development cycle time and improvements in product performance have become strategic objectives for many technology-driven firms. These goals may conflict, however, and firms must explicitly consider the tradeoff between them. In this paper we introduce a multistage model of new product development process which captures this tradeoff explicitly. We show that if product improvements are additive (over stages), it is optimal to allocate maximal time to the most productive development stage. We then indicate how optimal time-to-market and its implied product performance targets vary with exogenous factors such as the size of the potential market, the presence of existing and new products, profit margins, the length of the window of opportunity, the firm's speed of product improvement, and competitor product performance. We show that some new product development metrics employed in practice, such as minimizing break-even time, can be sub-optimal if firms are striving to maximize profits. We also determine the minimal speed of product improvement required for profitably undertaking new product development, and discuss the implications of product replacement which can occur whenever firms introduce successive generations of new products. Finally, we show that an improvement in the speed of product development does not necessarily lead to an earlier time-to-market, but always leads to enhanced products. (New Product Development; Time-to-market; New Product Performance)

Journal of Product Innovation Management, 2008

In this study, a content analysis was performed on 815 articles focused on new product development (NPD) published in 10 selected leading marketing, management, NPD, and research and development (R&D) journals from 1989 to 2004. Journals selected were a combination of leading journals in the discipline and publications that included NPD articles. NPD articles were classified by a series of key attributes including methodology employed, domains of knowledge utilized, and broad topics explored. The resulting data were then studied to discern trends over time or common characteristics within domains, methodologies, or journals. The study of NPD has grown since the Journal of Product Innovation Management (JPIM) was launched in 1984. This study shows strong growth in the number of articles on NPD in each category of journal selected. The research in the articles has changed: The early focus on a few selected success factors or a staged development process has evolved and broadened over the 16-year period. More variables and more sophisticated models are being studied in NPD articles. The study found a continuing evolution in research topics and increased sophistication in quantitative techniques over the 16-year period. Overall this review of the NPD literature uncovers encouraging signs of a maturing discipline. However, there are concerns about continuing issues in methodology, insufficient study of service innovation, and continued focus on process characteristics instead of other antecedents of NPD success. The service sector seems to be understudied, even as the reality of a service economy is generally acknowledged. The call in a recent metaanalysis to focus more on market and product characteristics and less on process characteristics has not yet been heeded, even by marketing researchers.

IEEE Transactions on Engineering Management, 2021

Research on new product development (NPD) has grown considerably over the last 30 years interweaving with serval fields of study such as strategy, marketing, supply chain management, and project management. This study offers an overview of the development of the NPD management literature published over the last ten years (2008 to 2018) in 1,226 peer-reviewed articles. By applying bibliometric analysis, we have discovered the existence of five research clusters focused on the following main thematic areas: the NPD process, the integration of diverse knowledge sources for NPD optimization, the relationship between NPD and corporate strategy, the role of users and consumers in the NPD process, the supplier involvement in the NPD activities. In respect of each area, we selected and reviewed the most relevant contributions and presented the emerging theoretical approaches and best practices. Also, the analysis has helped us to uncover the existence of promising research areas that have been scarcely explored. As a result, we formulated some suggestions for further research to fill in the existing gaps. This paper sheds light on the latest developments in the NPD literature. We provide managers and professionals with a selection of the leading research trends, issues, and approaches proposed by scholars and practitioners in the last ten years. For each of the five identified thematic areas, we provide a guide to understanding and interpreting the emerging best practices with a focus on the importance of the cross-functional knowledge integration, the role of market orientation, the relevance of the intertwining between NPD and the company's strategy, and finally the pivotal role of suppliers in creating a superior NPD process' performance. Also, we propose a research agenda for NPD future research composed of a series of wide-spanning research questions. We hope that this agenda can help not only researchers to unpack the proposed questions in specific pieces of research but also practitioners to reflect on the emerging research themes and translate them in new managerial practices. Research on new product development (NPD) has grown exponentially over the last 30 years, making this topic an autonomous and established field of research, ranging from management to engineering [1]-[3]. Over the years, NPD research and practice have changed a great deal, as the various surveys on NPD best practices, which the Product Development & Management Association (PDMA) sponsored showed [4]-[7]. During the last ten years, NPD research has been intertwined with other research areas, such as Strategy and Strategic Management, Marketing, Consumer Behavior, Organizational Studies, and Supply Chain Management. Studies dealing with alliances [8], [9], competition [10], and dynamic capabilities recognized the NPD process as a critical element in defining companies' strategic positioning. On the other hand, marketing studies highlighted the importance of users' involvement in the NPD process's various stages , focusing on how users can increase new products' performance and time to market , and how brand communities can provide new ideas for NPD processes . As a result, while the interest in NPD related studies has increased over time, the NPD literature has dramatically evolved into a multidisciplinary direction by integrating diverse sources of practitioners' insights and academic studies. From 2000 onward, several literature reviews have shown the increasing importance of the interconnection between engineering and management for the NDP research and highlighted that NPD should be considered as a vital element of the company strategy [1]-[3]. Furthermore, many emerging engineering issues, such as the increasing need for flexibility and the constant pressure for NPD's cost reduction, are heavily impacting on the strategic, marketing, and operational choices made by managers. As a result, on the one hand, an increasing number of management scholars consider today NPD a key element in their studies; on the other hand, engineering management journals are increasingly paying attention to NPD managerial issues . Based on these considerations, along with the absence of a recently available literature review of the field [1]-[3], the present study focuses on the latest developments of the NPD research carried out in the field of business and management from 2008 to 2018. Our analysis identified five areas of NPD literature research: the NPD process and its best practices, the integration of different sources of knowledge and information for NPD optimization, the relationship between NPD and corporate strategy, the role of users in the NPD process, the supplier involvement in the NPD activities. The study is structured as follows: in the next section, we describe the methodology, after which we present the bibliometric analysis's results, the VOS analysis, and the literature review of the five research areas. Section five proposes an agenda for future NPD research, while section six concludes the paper and describes its limitations. Our literature review is based on a bibliometric analysis of the bibliometric activity indicators and the visualization of similarities (VOS) . This method has been widely used across multiple study fields, demonstrating its effectiveness in synthesizing and representing high volumes of bibliographic data [15], [18], . We developed a five-step process to explore NPD scientific production and present the results. As a first step, in early January 2019, we started a review of NPD papers in order to have an updated overview of the topic and create a list of the key terms used in this area of study. After several iterations with additional keywords and in line with the suggestions coming from previous literature reviews in the field [1]-[3], we identified the two following terms that permitted us to retrieve all the relevant material for the present study: "new product development" and "npd". After that, we searched the two terms in the Web of Science Core Collection database , by applying the operator "TS" which searches for titles, abstracts, and keywords, as follows: "TS=("new product development") OR TS= (npd)." Furthermore, following previous literature reviews [1]-[3] and best practices , we limited the search documents published in English and to the "articles" category in order to include only high-quality material that had undergone a double-blind peer-review process. In line with the purpose of our study, we only considered articles between 2008 and 2018 in the Web Of Science's categories of "business" and "management." The query produced 1,315 documents. A cross-validation of the results made by using Scopus and EBSCO databases did not show any significant discrepancy with the Web Of Science's data. Next, we started the core phase of our bibliometric study by using VOS viewer 1.6.10, where we carried out a VOS analysis based on the bibliographic coupling aggregation mechanism . Bibliographic coupling occurs when two papers cite the same third paper in their references. We decided to use bibliographic coupling due to its ability to identify the development of a given field's intellectual structure by highlighting the main theoretical approaches and the relationships between them . The graphical output of the VOS analysis emerges from a routine that builds a similarity matrix by normalizing a co-occurrences matrix of items; in this case, the shared cited references . The script performs a set of routines to build a two-dimensional map in which the items are positioned to represent their similarity in terms of cited references. In the map that the VOS algorithm builds, items are close to one another if they share more references, which means they belong to the same Journal NP TC TCN

This report is an indication of the potential strength and weaknesses of company strategies implemented in the pursuit of their competitive advantage including the challenges that are confronted by the organisation during their procedure of applying an effective innovation strategy within the organisation. One would also scrutinise how the development in new innovative strategy of the organisation is reacting to the increasingly World wide business challengine requirements by using the acadamic concept debated in lecture as a foundation of this research and analysis.This report also shows a critical examination of the effect of innovative strategy on BP new product development within the organisation, the future development strategy and the competitive advantages of the organisation potential weaknesses and innovation strategy.

Journal of Product Innovation Management, 1987

Http Dx Doi Org 10 1080 0267257x 1985 9963973, 2010

In this paper the author examines some of the problems associated with customerinitiated or competitor-initiated new product development. He argues that in many cases models of new product development are out of touch with reality and the use of such models is limited to specific types of new product situation. Several case studies of everyday new product situations which do not conform to the prescribed stages of new product development models are reviewed.

The Journal of High Technology Management Research, 2004

This paper presents the results of a study into new product development (NPD) in the high-end audio industry in Japan, North America, and the UK. A total of 38 companies were visited and interviewed, and detailed benchmarks of product development performance and practice were obtained from 21 companies and 31 NPD projects. Performance was gauged by several measures including lead times, cost and schedule adherence, internal and external quality, and product profitability. The organization of the development process was assessed through measures of project team composition, linkages between key constituencies of the development process (e.g., development, manufacturing, and suppliers), and processes of information capture and exchange. UK projects were generally executed more quickly than those in Japan and North America, but displayed a higher incidence of postlaunch problems. Japanese lead times were the longest, and Japanese companies performed relatively poorly on measures of development productivity. However, their manufacturing performance was vastly superior to that of Western companies. The paper concludes that organizational and national context significantly shapes NPD practice and that this is reflected in patterns of product development performance.

Journal of Marketing Management, 1995

The literature on new product development is growing but Malaysia manufacturing industry often lacks these discussions. Therefore, this paper focuses on linking the determinants of an effective product development process and new product performance within manufacturing companies across industries in Malaysia that have certain level of new product development activities taking in their organization. Further, the paper organises the burgeoning new product development literature into four main determinants: customer orientation, cross-functional team, new product development team proficiency and management support. The selection of determinants to the theoretical framework is adjusting for manufacturing industry origins in previous written research material. The literature review focuses on the product development process and builds the framework of conceptual model detailing the initialization and implementation stage in the product development process. Two theoretical perspectives have guided the conceptual framework which is the resource-based view and organizational theories. The proposal is to give an increased understanding of the changed new product process in Malaysian industry and its implication on activities concerning organisation and management of the new product development process. This framework reflects a growing interest in extending new product development paradigms to emerging in ASEAN countries, thus contributing to a wider body of knowledge.

International Journal of Academic Research in Business and Social Sciences, 2017

In our modern age that is having a quite fast and dizzy economic and social alteration and progress, witnessing a new technological product each and every day, and in which the expectations of consumers are getting higher and higher; enterprises have to be successful and sometimes manage to survive. Shortening life span of a product and the fact that consumers ask for a higher quality and a richer variety than past times maket he job of enterprises more difficult.Therefore, in order to be a successful business enterprise which is keeping its place in business world, it has been an obligation to put forward the products that have the expected qualifications by the consumers into the market on the right time without having a lack of quality.