Article Abstract:
The failure of firms in using a number of techniques in analyzing the market for new products stems from three organizational learning barriers that inhibit market learning. These three learning barriers are the avoidance of ambiguity, compartmentalized thinking and inertia, synergistic action of which results in a narrow conceptualization of the market and the product's market failure. This stems from the narrow goals set by the new product development departments. One possible escape from the trap is to involve a broad functional participation in the new product development planning stage to gather all data regarding the market.
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Article Abstract:
Small, high-growth firms are innovative in making decisions crucial to product design management. Some have utilized concurrent engineering and design, computer-aided design tools and design for manufacturability. The responsibility and involvement of CEOs were important factors in product design success, not to mention increased investments.
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Article Abstract:
Seven new product development themes for the 21st century, designed to increase product development competitive advantage, are highlighted.
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