With planning we can bring out in advance, the difficulties likely to be encountered, esp. during introduction of a new product (or service) in the market. Complete planning is required, from conception to introduction in the market, and subsequently. The personnel selected for it, should be suitably qualified, experienced and certified. Many companies got success, because of effective work done in-house (and also outside), for new products and services. We must look continuously for new ideas (through Brainstorming etc.) and screen and analyze them. Studies should be made for the outstanding success or a dismal failure of products, to form a basis for new development work. A lot of research work is required initially, for evaluating, assessing and forecasting the requirement, size and growth rate of the market, for the particular product(s).After in-house studies, and advance evaluation of the market orientation at small level; we must choose the winning products. Preferably a group of companies should come together, to form cross company teams, so that their combined expertise and excellence can be utilized for their mutual benefit.
This book has twelve Chapters, two appendices and a list of 54 references. It is the result of author’s teaching and industrial experience, mainly connected with new product planning. Chapter 1 explains that the companies offer new products or services, mainly due to profitability. It also defines a new product and explains the difficulties, for new products development. As per Chapter 3, in any organization, responsibilities are assigned department wise, but for successful working, inter departmental coordination and cooperation are very essential.
The author states that, three types of teams can be formed. These teams consist of personnel from various departments, and thus have multiple roles, but they will work effectively, only with full support of the organization. Chapter 7 discusses the technical development stage, in which a tangible new product emerges, and a new product protocol, consisting of 12 elements is constructed. The product must have the required excellent quality, and performance, as designed and expected. Computer aided facilities should be used, for excellence in the designs. The Kano model is presented for generating products, which reach the customer delight stage. This is confirmed by product use testing. Chapter 12 discusses the best practices, based on experience of various companies, the best being to ask the customer. It provides the reasons of success or failure of products. Companies also have various levels of success, which should be individually examined and studied. The book presents experiences of several companies, gives problems faced by them, reasons of success and failure, along with suggestions. It offers a comprehensive approach to this subject and effectively communicates information, procedures, strategies and guidance etc. It is useful for the executives, managers, product planners, marketing teams, researchers and students of management.