Abstract
Developing and launching successful new products is a key marketing value driver of any R &D organizations. The chapter has featured the operational definition, role and scope of NPD. Developing and implementing a proven NPD process increases success rates, together with managing the other key factors that drive results. This has been clearly conveyed in this chapter how NPD as strategy adds a competitive advantage. At the end, chapter briefly accounts to the theoretical understanding of NPD, framework of NPD and models to explain the execution of NPD.
Learning Objectives: To understand the vital role of new product developments (NPD) for an organization and in turn the economic growth of the country; to explore how to evolve an NPD strategy, evolutionary theory behind NPD, and Brown and Eisenhardt framework; to provide a brief description of various models in NPD.
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Akhilesh, K.B. (2014). New Product Development. In: R&D Management. Springer, New Delhi. https://doi.org/10.1007/978-81-322-1946-0_15
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DOI: https://doi.org/10.1007/978-81-322-1946-0_15
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