The Benefits of the New Product Development Process

What is the value of the new product development process?

The new product development process, or NPD process, and its value to business seems to be enjoying a resurgence in popularity. Top tier companies and startups, along with the angel investment and VC communities are taking a close look at the benefits of engaging in the process in its many phases and both its design and engineering aspects. Cost control, as cited in this Wharton School document, cost effectiveness, and the desire to better predict the outcomes of development efforts are all driving renewed interest in all phases of the process.

What are the benefits of the new product development process?

There are benefits to be had at every step, from exploring myriad possibilities up front through white space investigation through to sustaining engineering and product improvement.

Here’s some of the benefits of the new product development process in a nutshell.

Have you checked out our product development services?

3 Comments

  1. Leonardo Santi
    11/5/2014
    Reply

    What? Where are the details? The article stops, was cut off, ends. “Here’s some of the benefits of the new product development process in a nutshell.” Then, nothing. Who did this? Not too bright. While nice, good to know, even usefully instructive, the referenced articles under “You might like:” are not what was expected considering the interesting title of the article. Disappointed. Leonard

    • junef2013
      11/10/2014
      Reply

      Dear Mr. Santi,

      A link to the benefits of new product development ‘in a nutshell’ list was present in the original post but due to an oversight it was not bolded. If you return to the post, you will see that the link has now been bolded and you can follow it for more information. You are also welcome to connect with us regarding any questions you have about the new product development process through the “Contact” button at the bottom of the Team page on our website.

      Regards,
      June

    • 5/21/2017
      Reply

      That’s more than seenlbis! That’s a great post!

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