New product development npd

Customer-Centric NPD[edit]
Customer-centric new product development focuses on finding new ways to solve customer problems and create more customer-satisfying experiences. Companies often rely on technology, but real success comes from understanding customer needs and values. The most successful companies were the ones that differentiated from others, solved major customer problems, offered a compelling customer value proposition, and engaged customers directly. ^[35]
Team-based NPD[edit]
Team-based new product development involves various company departments working closely together to overlap the steps in the product development process, which saves time and increases effectiveness. Departments that typically work together in cross-functional teams are legal, marketing, finances, design and manufacturing, suppliers and customer companies. If there is a problem, all the companies can work together to resolve it.
Thanks to digital technology, customer co-creation has become an important part of the new product development process. This allows companies to get customer feedback and input early on in the process to ensure that they are developing a product that customers actually want.
Systematic NPD[edit]
Systematic new product development focuses on creating a process that allows for the collection, review, and evaluation of new product ideas.^[36] This helps to ensure that good ideas are not lost and that the company is able to develop products that meet customer needs and desires. It also allows for the management of new product development from a holistic and systematic perspective, which can help increase the chances of success for new products.
Having a way in which employees, suppliers, distributors, and dealers become involved in finding and developing new products is important to a company's success.^[37] It is also important for companies to have a process in place for monitoring the competition and their products so that they can stay ahead of the curve.