New Product Development - insights into the development journey
What do we mean by New product development “NPD” and why is NPD important to organization?
Through the last 10 years the failure rate of New products has reach almost 40% of all product
launched. That’s a significant number which means that bad NPD practices can lead to extensive losses for an organization.
In the NPD cycle the innovation team studies the markets & consumer to identify needs, wants & fears of the consumer and convert this into innovation feed that can be framed & tested as a concept.
The concept is then developed into a new product that is launched afterwards to consumer market.
During the webinar we will explore the meaning of NPD and why is it important and the strategic elements of NPD and we will dive into the Fuzzy Front End “FFE
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New Product Development - insights into the development journey-20200322 1800-2.mp4