Problems of Organising for Effective New‐Product Development

Analyses the wide range of issues to be considered when launching a new product development programme. Stresses the importance of new product development in taking a successful company forward. Discusses the risks involved – in the marketplace four out of five new products result in failure. Examines options for where a new product development department should fit into the company – e.g. in the marketing department, in the technical department or as a stand‐alone department. Outlines the advantages and disadvantages of using an external consultant to advise on the setting up of new product development or relying on existing staff. Stresses the importance of analysis and feedback from any methods used. Concludes there is no ideal new product organisation – what's best for one firm might not be best for another. Asserts that in reality, a range of new product organisations can be found, and tailored to meet individual needs.