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H. ASHMAN, The Understanding & Insight Group, 5281 Cascade Dr., Powell, OH 43065 In the past few years, speed to market and speed of the product development process have been critical topics for many companies. This paper will cover key ideas and factors for speeding up the front end processes of the product development process. This speed can be generated by linking qualitative and quantitative methodologies that create a quantitative focus for the front end and resultant ease of movement of the project through the product development process. Many companies are experiencing a new paradigm, where just doing the activities of the product development process does not guarantee success in the marketplace. Front end research (both consumer and R&D) can be anywhere from 1% to 5% of sales in terms of the level of investment; the overall investment in the product development process is estimated at 10% to 20% of sales throughout the entire product development process. This level of investment requires a tighter linkage of brand promise and product delivery for a higher rate of return for the company.
Session 23, Accelerated new product development: Speed to market, doing more with less
2005 IFT Annual Meeting, July 15-20 - New Orleans, Louisiana |