Strategies for new product development

Guidelines are offered for following the tortuous trail of new- product development. To succeed, you must first accumulate many likely new-product concepts, rather than just one or two. They all should be subjected to preliminary market research at the same time that they are being investigated for their production feasibility. Feedback-loops must be built in to bridge and reflect results from these simultaneous processes, and the concepts themselves must be allowed to change and undergo a gradual metamorphosis…or they must be allowed to die painlessly at this early stage. Finally, the survivors will achieve commercial success only through the optimism and preseverance of their ‘pilot’.