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| Topic: |
Technology
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| Number of pages / Number of words: |
26 / 7165 |
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Though being a most important process for most of the companies product development is one of the least understood or perhaps least executed process just beacause many companies appoint specially SME’s employ single individual to be responsible for the whole process. Important because as can be seen it is responsible for the revenues and margins that a company can achieve and the ultimate value of that company...
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But many a times NPD is driven through a series of functional “silos†, causing delays to build up and often, the original market requirements get lost.
INTRODUCTION
New product development (NPD) is the term used to describe the complete process of bringing a new product or service to market.
There are two parallel paths involved in the NPD process:
one involves the Idea generation, Product design, and Detail engineering;
the other involves Market research and Marketing analysis...
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