The range of NPD strategies is wide and can range from packaging alterations to new technological research.
New product development concerns the management of the disciplines involved in the development of new products.
The effects of any corporate planning may be important and long term. Decisions by market planners may have equally significant effects.
One of the clearest ways of identifying the variety of growth options available to a business is using Ansoff’s (1968) directional policy matrix.
A product can be defined differently and can take many forms. Some dimensions will be tangible product features and other intangible.
The early stages of the new product development process are usually defined as idea generation, idea screening, concept development and concept testing.