The paper "Evaluation of New Product Development Practices and Processes " is a great example of a Management Case Study. According to the case study of the word, product stands for both tangible goods such as computers, cars among others and services such as investments. The New Product Development (NPD), which includes new services development. Successful products don’ t have to be new, but in order for an organization to be able to grow it will have to find new customers for the existing products in the case of the organization not having new products to satisfy its customer's example relating to this is in the case of Motorola and Nokia was persuading its customers those with mobile phones to exchange them from them with those handsets with features such as MP3 player, internet-enabled, camera among other new features in order to retain their customers. The New Product Development (NPD) process is one that is a combination of goals, steps, activities or decisions that are meant to churn out new products as required by the organization (Crawford 10).
The New Product Development has a structural model of processes that show sequential phases with each having a set of inputs, outputs, activities which are linear, sequential and time ordered.
THE generic NPD process has six stages or rather phrases that are helpful in understanding important issues of each phase that provide a useful understanding of analysis and decision making. The processes are mainly designed for larger and commercial organizations. Among the six phases, phase 3 entails concept definition that’ s changing an idea into a concept in that the product is described what it is, the targets of the product among other concepts on the same phase assessments will be done preliminarily on commercial and technical viability in terms of concept.
Phase 4 is about Product development and feasibility assessment in that the confirmation of the product’ s market and technological feasibility also the business plan and prototypes are done in this phase. Phase 5 entails final testing and product launch in the sense that the product is per the customer’ s desire when buying or using it. While as for phase 6 is Post-launch monitoring and evaluation, in this phase adjustment or rather changes are made on the marketing strategies and product based on what is learned.
The following below is about the 3-6 phases of the six-stage generic process as witnessed as a success or failure to an organization or rather organizations (Muffatto & Roveda 620). Phase’ s 3-6 areas of NPD process performed well by organizations in relation to new products development Among the evident organizations that have successfully made due to the production of new products or rather projects to their customers through the NPD process include the Sony Company which is deals with electronics.
Sony as a company has been performing well in terms of sales and having a good relationship with its customers in the product and services since its ability to provide its customers with what the need and as per current technology for instance as per the 3-6 phases the company has successfully been able to maintain the customers by adopting phase 3 that which entails changing an idea into a concept, for example, came up with the idea of portable stereo manufactured products, for example, walkman hence it through the phase 3 of the New Product Development.
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