BNET Business Dictionary

Business Definition for: Product Development

the revitalization of a product through the introduction of a new concept or consumer benefit. Product development is part of the product life cycle. The concepts or benefits that can be implemented range from modification of the product to simply introducing new packaging.

Additional Resources

Collaborating With Customers in Product Development: To some, "new product development" means inventing something new. In reality, though, most new products are modifications of existing products or ideas. Sometimes, adding an element of service onto an existing product is also referred to as new product development.The power of new product development lies in the potential for...; Tags: Research and Development, BNET Editorial, Marketing, Research & Development, Product, Management, Business Operations, Strategy, Product Marketing, Product Development, Customer, New Product Development, risk, supplier, collaboration, knowledge, information technology, benefit, video, security; Articles 2007-10-10
Collaborating for Improved Product Development: More and more companies are collaborating on product development programs. The objective is to reduce production costs, make better use of skilled, specialist resources, and speed up the time to market. Tools like videoconferencing and the use of secure extranets have simplified collaboration. What You Need to KnowWhy is...; Tags: Product marketing, Strategy, Business structures, Groupware, BNET Editorial, product development, product life cycle, collaboration, team, partnership, collaboration tool, globalization, Extranet, competitive advantage, marketing, project management, benefit, outsource, su; Articles 2007-10-31
Decision Analysis Approach For Improving Product Development Decision Quality: Product development decisions in the early stages of the development process critically impact life cycle cost and revenue potentials. Design for Manufacturability tools and methods provide key insights into product's requirements based on the voice of customers. Other quantitative analysis tools, such as computer aided modeling and optimization techniques enhance...; Tags: Decision Analysis, Product Development, Product Marketing, Strategy, Research & Development, Business Operations, Marketing, Management; White papers 2005-09-24
An Integrated Framework For Measuring Product Development Performance In High Technology Industries: One of the major challenges in managing new product development is the difficulty in measuring product development performance. "Although new product development projects are inherently multidisciplinary, studies of development projects typically adopt a singular functional perspective of performance. Inherent functional differences contribute to a natural tendency toward myopic evaluation of...; Tags: Business Operations, Human Resources, Management, Marketing, New Product Development, Performance, Performance Management, Product Development, Product Marketing, Research & Development, Strategy, Workforce Management; White papers 2003-02-01
Key Decisions In Strategic New Product Development For Small Software Product Businesses: Small companies in the software product business risk rework and market failure due to shortcomings in integrating a strategic perspective into management of product development. Because little guidance exists for helping such companies link business strategy with product development, author propose that improvement should begin with helping the key persons...; Tags: Software, Software Product, New Product Development, Product Development, Product Marketing, Tools & Techniques, Strategy, Research & Development, Business Operations, Marketing, Management; White papers 2003-08-20

New Product Development With Internet-Based Information Markets: Theory And Empirical Application: Successful new product development is crucial for firms' competitive advantage. Despite various sophisticated methods and high investments, new products still face notoriously high failure rates. A very critical stage in new product development is product concept testing for the go/no-go decision in further product development. Since there is a high...; Tags: Theory, New Product Development, University Of Frankfurt, Information Market, Product Concept, Product Marketing, Internet, Marketing; White papers 2005-04-27
What Separates The Winners From The Losers In New Food Product Development?: The low rate of innovation and high rate of failure of new food products is a cause for concern. Whilst a wide range of product development process factors are known to influence product success and failure, these predictors are based almost exclusively upon investigations into 'industrial' rather than food products....; Tags: Food, Product Development Process, Product Development, Food & Beverage, Product Marketing, Strategy, Research & Development, Business Operations, Manufacturing, Marketing, Management; White papers 2003-09-12
Clarity from Niku Selected by Autobytel to Support Product Development and Compliance; New Product Development Solution to Help Support Autobytel's Award-Winning Product Development Teams: REDWOOD CITY, Calif. -- Niku Corporation (Nasdaq:NIKU) today announced that Autobytel Inc. (Nasdaq:ABTL), a leading automotive marketing services company, has selected ClarityTM from Niku to support its award-winning product development efforts. Autobytel, a recent winner of an AeA High-Tech Award for product innovation and the Stevie Award for Best Product...; Tags: Autobytel Inc., compliance, New Product Development, product development; Research articles 2005-07-18
In Chains? Automotive Suppliers And Their Product Development Activities: A conceptual framework is developed and tested in which supplier downstream position in the supply chain, supplier innovation strategy and customer development commitment are seen as the antecedents of supplier product development activity. Using partial least squares PLS, we analyze the results of a survey of 161 Swedish automotive suppliers...; Tags: Product Development, Supplier, Supplier Product Development Activity, Channel Management, Marketing; White papers 2003-04-01
Managing And Measuring Product Development: Challenges Related To Embeddedness In Time And Space: Product development is of great importance to many companies. At the same time, product development is risky, as companies set out to do things they have never done before. The literature has introduced a variety of models on product development to manage this challenging process. These models are often supplemented...; Tags: Stockholm School Of Economic, Product Development, Product Marketing, Strategy, Research & Development, Business Operations, Marketing, Management; White papers 2005-11-21
Buyer-Supplier Collaboration In Product Development Projects: Previous research on supplier involvement in product development projects has produced contradictory results, with some studies showing a positive relationship, others no relationship, and still others a negative relationship between supplier involvement and project performance. Drawing on data from 124 managers, project leaders, buyer members, and supplier members pertaining to...; Tags: Supplier, Adherence, Product Development, Channel Management, Product Marketing, Strategy, Research & Development, Business Operations, Marketing, Management; White papers 2007-03-12
IONA Names Proven Industry Executive to Lead Product Development Efforts; Stephanos Bacon Joins Company as Vice President, Product Development: DUBLIN, Ireland & WALTHAM, Mass. -- IONAR Technologies (NASDAQ: IONA), a world leader in high-performance integration solutions for mission-critical IT environments, today announced that Stephanos Bacon has joined the company as Vice President, Product Development. In this role, Mr. Bacon brings more than two decades of software industry product development...; Tags: product development; Research articles 2005-04-11
Oracle's New Product Development Solution.(Brief Article): Oracle Corp. has brought out Oracle Product Development Exchange PDE, a comprehensive collaborative product development and product lifecycle management solution. It allows companies from all industries -- such as manufacturing, construction, retai Oracle Corp. has brought out Oracle Product Development Exchange PDE, a comprehensive collaborative...; Tags: New Product Development, Oracle Corp., product development; Research articles 2001-01-01
Market-Oriented Product Development as an Organizational Learning Capability: Findings From Two Cases: Conceptualizing market orientation at the level of the product development process is relevant, because market orientation is a highly critical factor for new product success and this conceptualization can be used as a starting-point to transform the whole organization into a more market oriented one. Market-oriented product development appears to...; Tags: Theory, Product Development Process, University Of Groningen, Market-Oriented Product Development, Product Development, Product Marketing, Strategy, Research & Development, Business Operations, Marketing, Management; White papers 2002-04-09
Whatever Happened to 2-Year Medical Product Development?: This paper discusses the increased importance of time-to-market for medical products, and shows that successful product development requires additional focus in four areas; the product requirements phase must be addressed with increased formalism, this formalism must then be extended through the software requirements phase, evaluation of the software architecture must...; Tags: Software, Foliage Software Systems, Product Development, Product Marketing, Strategy, Tools & Techniques, Research & Development, Business Operations, Marketing, Management; White papers 2004-02-10
Concurrent Product Development And New Communication Technologies: Development and design have always been driven by the need for communication to integrate different technology and market perspectives into an innovative and successful product or service. The possibilities and characteristics of communication such as face-to-face, telephone, or e-mail, are strong factors determining processes and organisational structures in product development....; Tags: Communication Technology, Product Development, Product Marketing, Strategy, Research & Development, Business Operations, Marketing, Management; White papers 2005-06-19
Developing Systems To Support Organisational Learning In Product Development Organisations: There are aspects of New Product Development NPD business processes that pose particularly difficult challenges to Organizational Learning systems. Short product and process life cycles compress the available time window for recouping the expenses associated with product development. Cross-functional collaboration in product development organizations requires the merging of knowledge from...; Tags: University Of Limerick, Product Development, Product Marketing, Strategy, Research & Development, Business Operations, Marketing, Management; White papers 2004-02-10
Subcontracting Product Development - Creating Competitiveness Through Networking: Product development has become increasingly complex and resource-consuming. Consequently, internal development capabilities can prove insufficient for maintaining a firm's competitive position. External cooperation and networking have been suggested as means for accessing necessary complementary knowledge or resources. In this paper, cooperation is studied as the key to improving competitiveness, especially...; Tags: Subcontracting, Network, Supplier, Cooperation, Product Development, Channel Management, Product Marketing, Strategy, Research & Development, Business Operations, Marketing, Management; White papers 2006-10-03
Globalization Of Product Development: The Inevitable Next Stage: Global sourcing has become a change agent in high-technology manufacturing - causing dramatic shifts in how and where product components and capabilities are sourced, and where work gets done. In past few years, high-technology companies have faced mounting business pressures on basic R&D (Research & Development) and product development operations,...; Tags: Sourcing, R&D, Globalization, Product Development, Product Marketing, Purchasing & Procurement, Strategy, Research & Development, Business Operations, Marketing, Management; White papers 2007-03-01
Decomposition In Product Development: Product development organizations seek to create profitable product designs. This paper discusses how the decomposition of the profit maximization problem leads to traditional product development processes. Decomposition provides a framework that integrates the conceptual models of decision-based design and the traditional description of product development processes. This paper identifies the...; Tags: Decomposition, Product Development, Product Marketing, Strategy, Research & Development, Business Operations, Marketing, Management; White papers 2004-06-24

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