The profitability and even the survival of an organization depends on its capacity to innovate with products and services and market them effectively. The link between innovation and business performance is well established, making the study of innovation and new product and service development of critical importance to the study of business.

New product development is also a critical marketing issue, with the satisfaction of customers based on the core products and services of a firm and how they are differentiated from competitors. Equally important are the technological, organizational and strategic strengths of a firm, making the development of new products and services a multidisciplinary endeavor.

Edited by one of the world's leading authorities in the area, New Product and Services Development, a four-volume set, is arranged ...

Editor's Introduction: New Products and Services Development

HubertGatignon

Firms' profitability and their survival depend critically on their capacity to innovate with products and services that the market will respond to positively. In spite of the huge uncertainty associated with R&D investments, the link between the innovativeness of firms and their performance has been well established, whether measured by profits, return on investments, market share or stock prices. Nevertheless, the rate of failure of innovations has remained stable over several decades at very high levels. New product development is a critical marketing element: the satisfaction of customers is essentially based on the core product or services of a firm, which must be differentiated from competitors, offering better products and better value. Having the right product is insufficient; ...

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