Concise yet comprehensive, Product Planning Essentials addresses the complex, interdisciplinary nature of product development and product management. It covers strategic issues that emerge during the product life cycle, including identifying opportunities, idea generation and evaluation, technical development, commercialization, and eventual product dismissal. Special topics include public policy, international issues, and intellectual property. An interesting summary of product development best practices from several companies appears at the end of the book. Instructors, students and practitioners will appreciate the balanced managerial and how-to orientation.
Chapter Twelve: Product Development Best Practices
Product Development Best Practices
The previous 11 chapters provide an overview of the product planning process, product planning techniques, and inherent issues associated with and/or affecting product planning. In this last chapter, themes and evidence of product development best practices are given to guide product planning practice and bring about proper closure of this book.
A good starting point is Business Week's 1993 article entitled “Flops,” which discussed product development failures and how to improve the chances of avoiding such failures. Six particular themes were listed to describe how a company can improve its success rate with new products (pp. 78–79):
- Ask your customers: Don't develop a product just because the engineering department loves a new technology. Consult users and customers at every step ...