The new product development process can be viewed as a series of linked activities. Many of the activities occur concurrently.
Well-functioning global NPD teams become a critical capability by which firms can leverage much more diverse set of perspectives for the global NPD effort.
It is the process of collecting possible business opportunities that could, realistically, be developed by the business into successful products.
Transforming a list of ideas into product concepts. For a product idea to become a new product concept, these are required: form, technology, need.
Screening product ideas is, essentially, an evaluation process. It occurs at every stage of the new product development process.
The item acquires a finite form and becomes a tangible good. Product designers may develop similar prototypes with different styles.
Most new products are improvements or minor line extensions and may attract almost no attention. Other products will receive extensive coverage.
The use of cross-functional teams increases creativity in a new product development, leading to shorter development time and higher product innovation.