Beruflich Dokumente
Kultur Dokumente
3 IMNPD
Innovation Management and New Product
Development
Learning Objectives
1. Examine the key activities of the NPD process
2. Explain that a product concept differs significantly from
a product idea or business opportunity
3. Recognize that screening is a continuous rather than a
single activity
4. Provide an understanding of the role of the knowledge
base on an organization in the new product
development process
5. Recognize that the technology intensity of the industry
considerably affects the NPD process
Module Code and Module Title Title of Slides
NPD Terminology
The fuzzy front end
The messy ‘getting started’ period of new product development
processes. It is the front end where the organization formulates a
concept of the product to be developed and decides whether or not to
invest resources in the future development of an idea
Business Opportunity
A possible technical or commercial idea that may be transformed into a
revenue generating product
Product Concept Screening
A physical form or a technology plus a clear statement of benefit
Specification
Precise details about the product, including features, characteristics and
standards
Activities
Technological
Pharmaceutical Industry
Electronics Industry
Product A Product B
Business
Team 1
Business
Team 2
Business
Team 3