New Product Development Report

Perhaps a normal thing for us as a layman to know and witness the launch of new products available from various companies. The launch of these products is not a simple process but through various stages so that it can be qualified so that it can be acceptable to consumers and is projected to benefit companies with high product life span. Therefore, in a post on my first blog, I wanted to share science about the process that happens behind the scenes so that we can also be implemented in a variety of businesses we built in our country.

New Product Development or New Product Development (we briefly with NPD), is a way that can be used by a company to obtain long-term success. Maybe you still doubt this fact, where there are some companies that might just make a type of product that has lifespan of the product (often called Life Cycle Product) very long. Indeed, there are some industries being the exception. Therefore, at the beginning I give you the view that, NPD is a way to achieve long-term success for a company.

NPD is a part of Innovation Management. Is it innovation? Understanding Innovation by Stephen Robbins, namely, innovation as a new idea applied to initiate or improve a product or process and services. So what is management innovation?

 Innovation Management is the process of managing innovation in a company to be efficient for the creation of a sustainable competitive advantage for the company.

After receiving the explanation, then where the position of an NPD? New Product Development is a bridge for us to transform innovations into tangible product or a new product. NPD using our experience and knowledge from various disciplines to create new products.

In the course of making new products, there are many different perspectives from different divisions within the company. There are conflicts that must be the layman sees it as a loss. However, we must view it as a strength to enhance our products. Therefore, we must make all the divisions take part in decision making in NPD.

So what are the benefits of NPD? NPD provides a significant increase in sales. At least he gives 33% of sales in a company. In addition he will arouses a product has a longer life cycle, as we know the Product Life Cycle that is increasingly short. NPD helps a company to identify a business opportunity in order to achieve success in long term.

In making strategy in an NPD. There are some things we need to consider in making NPD strategy.

1. Corporate Planning ongoing.

2. Planning Market Conditions ongoing.

3. The state of technology and R & D

Reference: http://novindraades.blogspot.co.id/2014/02/apa-itu-new-product-development-atau.html