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5 Steps to Profitable NPD |
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Simple Ways to Implement Successful Innovaiton in Your Firm
An Introduction
Success in New Product Development (NPD) is an oft-studied, yet sometimes elusive, objective of even the most progressive firms. While some firms view success as  achieving the technical goals of an innovation program and others view success as being first to market with a new idea, most companies view success in terms of profitability.
Literally reams of case studies are published yearly as examples of success in NPD. But how do you translate one firm's success in another industry to innovation in your field of expertise?
In this paper, we present five simple steps to profitable NPD. Each is easy to implement. These steps can be put into practice by senior management, NPD project leaders, NPD team members, and/or cross-functional development teams.
- Create a Process.
- Keep it Simple.
- Communicate.
- Kill Bad Projects.
- Conduct Post-Launch Reviews.
Read more here.
Or download the full white paper for just $8.95 (tax included).
Download Now
GNPS Premier Members can access the full paper here |
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Greetings!
November finds many of us preparing for holidays and family time.
But, as work slows for year-end, it's also a great time to evaluate improvement in your innovation programs and plans for next year.
As 2011 begins to wind down and you begin thinking about 2012, why not consider New Product Development Professional certification? This program demonstrates mastery of best practices in innovation and often leads to career advancement.
Take advantage of our early discount registration now. |
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Innovation Fun Fact | |
How Sugar is Made
As we approach the holiday season, many of us find ourselves baking and eating sweets: cookies, pies, cakes. Yum! Sugar or sucrose, is a carbohydrate that occurs naturally in every fruit and vegetable in the plant kingdom. It is the major product of photosynthesis, the process by which plants transform the sugar energy into food. Sugar occurs in greatest quantities in sugar cane and sugar beets from which it is separated for commercial use. But where does all that sugar come from? Click on the image of my favorite holiday snack for a short video to see how beet sugar is made. (A short 3-minute video. Image courtesy of jorneau.com) |
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Recommended Reading | |
Innovate the Future
David Croslin's new book, "Innovate the Future: A Radical New Approach to IT Innovation" should not be limited to those interested only in information technology.
Early chapters go into a detailed discussion of the difference between invention and innovation, as well as traps that firms fall into with incremental product improvements and feature addition. The book focuses on understanding customers, solutions, and disruptive innovation to satisfy consumers' needs.
This book is a great compliment to our featured topic of Customer-Centric Innovation! |
| 5 Steps to Profitable NPD | | |
Simple Ways to Implement Successful Innovaiton in Your Firm
Introduction
Successful marketing of a new product relies on many factors. For example, a purchaser's prior experience with customer service at the retail outlet can flavor the  consumer's impression of the product either favorably or not. With over 100,000 distinct items cluttering the shelves at a typical retail outlet store, customer service differentiates where the products themselves fail to offer consumers an advantage.
Failed Market Research is an oft-quoted reason for NPD failure. Merle Crawford presents data demonstrating that between one-third and one-half of all new products fail. In fact, conducting certain phases of Market Research, like the concept test, during the early stages within the NPD Process is a trademark of successful New Product commercialization.
- Identify Opportunities
- Interact Frequently
- Inspire and Delight
Customer-centric innovation focuses on the total customer experience, designs in emotional aspects of the product and yields a flexible customer interaction.
Read more or download the full white paper for just $8.95 (tax included). Download Now
GNPS Premier Members can access the full paper here.
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