Greetings!
In previous issues of The Village, we have investigated the influence of Innovation Strategy and Portfolio Management on New Product Innovation. Implementing all of three of the key foundational areas of New Product Innovation lead to success in the marketplace.
Where Strategy is an overarching goal and Portfolio Management makes up the so-called "30,000-foot" view,  NPD Processes are the nuts and bolts of changing a great idea into a profitable commercial product.
In this issue of The Village, we look at what works (and what doesn't work) in the New Product Development Process, leaving you with actionable hints and tips on how can better implement NPD. |
| Innovation Fun Fact |
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Why is Bubble Gum Pink?
In 1928, Walter Diemer was working as an accountant for the Fleer Chewing Gum Company in Philadelphia; what he wound up doing in his spare time was playing around with new gum recipes. But this latest batch was less sticky than
regular chewing gum and it stretched more easily.
He saw the possibilities. One day he carried a five-pound glop of the stuff to a grocery store; it sold out in a single afternoon. Before long, the folks at Fleer were marketing Diemer's creation and Diemer himself was teaching cheeky  salesmen to blow bubbles, to demonstrate exactly what made this gum different from all other gums.The only food coloring in the factory was pink. Walter used it. That is why most bubble gum today is pink.
His bubble gum was so successful that it sold over a million and a half dollars worth of gum in the first year. See a five-minute video how bubble gum is made by clicking on the lady blowing a bubble. |
| Effective NPD Processes are Quality Systems |
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| Stream-Lined NPD Processes Enable and Empower the NPD Teams
Does your NPD Process recognize the possibilities as Mr. Diemer did?
The "how" of implementing an NPD Process is more important than the number of projects pushed through the system.
, you should ask yourself "Does every project proceed to the next phase because we have confidence in the development and market analysis?" Or is the process completed just for the sake of the process?
A quality New Product Development Process involves a systematic guide to facilitate the NPD project from idea to commercialization. Be sure to have readiness criteria institutionalized in each project evaluation, including technical and value chain components.
 Another quick check for the health of your NPD system is to evaluate whether the chief practitioners are empowered to act at Project Leaders. Are roles and responsibilities clearly laid out in the Product Innovation Charter? Is there a full-time project leader who has undergone project management training?
Bob Cooper, the guru of Stage-Gate(TM) recommends periodic revamp of the NPD Process. Perhaps it is time to take a look at your system today.
(estimated reading time is 10 minutes) |
