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What is Newness

Chapter 13
Handbook of Research on Knowledge-Intensive Organizations
‘Newness’ may be new creations, such as original innovations; or products new to the world or new to the company. Additions, improvements and revisions, with greater emphasis on particular values. Repositioning of the product, for example, novel ways to use it in a different market segment, or possibly the use of branding. Cost reductions, lower price, or improvement in through life costs.
Published in Chapter:
Modeling the New Product Development Process: The Value of a Product Development Process Model Approach as a Means for Business Survival in the 21st Century
Jonathan D. Owens (University of Lincoln, UK)
Copyright: © 2009 |Pages: 20
DOI: 10.4018/978-1-60566-176-6.ch013
Abstract
Success in new product development (NPD) can be considered a general aim for any company wishing to survive in the 21st Century. It has been found that positive effects can result from the existence of formal “blueprints” and “roadmaps” of the NPD process. This chapter discusses numerous NPD processes which can assist a company to capture what it does, and follow a structured development route, from which it is possible to gain a better understanding of how to improve the development process, and thus reap the potential and tangible benefits. This chapter’s focus is at organisations that are considering implementing a new product development (NPD) process in order to improve repeatability and ultimately sustainability of their innovative capabilities, a necessary and vital component for survival. It aims to bring an understanding of the underlying characteristics that may contribute to a potential and successful outcome during the development process within organizations, through the adoption of a structured NPD process.
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