Linking new product development to strategy

In vertical integration new products or services are added which are complementary to the present product line or service.

Linking new product development to strategy

Identify the "product" the roadmap focuses on Identify needs This critical step is to get the participants to identify and agree on the common product needs. This is important to get their acceptance.

Use Scenario-based planning If there is major uncertainty about the common product needs, then scenario-based planning can be used.

Technology roadmap - Wikipedia

Each scenario must be reasonable, internally consistent and comparable with the other scenarios. State needs These are the needs for the product.

Identify the critical system requirements and their targets Define critical system requirements The critical system requirements provide the overall framework for the roadmap and are high-level dimensions the technologies relate to.

These include things like reliability and costs. Define targets For each of the system requirements targets must be defined.

Specify the major technology areas Transform requirements into technology oriented drivers The major technology areas should be specified to help achieve the critical system requirements for the product. The critical system requirements are then transformed into technology drivers for the specific technology areas.

Specify the technology drivers and their targets Select technology alternatives with their targets Technology drivers and their targets are set based on the critical system requirement targets.

It specifies how viable technology alternatives must be to perform by a certain date. From the available technology alternatives a selection must be made. Identify technology alternatives and their timelines Identify alternatives and their timelines The technology alternatives that can satisfy the targets must be identified.

Next to this the timeline from each alternative must be identified. Recommend the technology alternatives that should be pursued Select subset of technology alternatives must pursued Determine which technology alternative to pursue and when to shift to a different technology.

Consolidate the best information and develop consensus from many experts. Create the technology roadmap report Create the report Here the actual technology roadmap report is created. Follow-up activity phase[ edit ] This is the moment when the roadmap must be critiqued, validated and hopefully accepted by the group involved in any implementation.

This requires a plan developed using the technology roadmap. Next, there must be a periodical review and update point, because needs from the participants and the technologies evolve.

NPD Body of Knowledge-Strategy & Planning

The fast-start approach to roadmapping[ edit ] Given the potential complexity and organisational inertia surrounding the creation of roadmaps, researchers at the University of Cambridge [10] focused on developing a fast-start approach to roadmapping.

The approach as well as its counterpart for innovation and strategy roadmapping, S-Plan is flexible and scalable, and therefore can be easily customised for efficient application.

Linking new product development to strategy

The process of technology roadmapping fits into corporate strategycorporate strategic planningtechnology planning and the business development context. Three critical elements should be connected: Knowledge and skills required[ edit ] Consultant with skills[ edit ] Creating a technology roadmap requires certain knowledge and skills.

Some of the participants must know the purpose of technology roadmapping. Next to this group-process and interpersonal skills are required since the process includes a lot of discussions and finding out what the common need is.

If the number of participants is really large there might be need for a consultant or facilitator.MAKING CONNECTIONS Linking the concepts The new marketing landscape The new digital age New-product development strategy Idea generation Idea Screening Concept development and testing Marketing strategy development Business analysis Product development Test marketing.

Linking New Product Development to Strategy by Gary Getz and Pedro do Carmo Costa Many companies implement Stage-Gate or other forms of new product development processes that promise to accelerate growth while managing risk.

GB Chapter STUDY. PLAY.

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value. the linking of a brand to other favorable images--ex: linking a brand to a popular celebrity. New product development for producers consists of several stages.

1) idea generation, based on consumer wants and needs 2) product screening 3) product analysis 4) development (including building. See our articles on VMOST Analysis and the Balanced Scorecard for ways to bridge the gap between strategy development and implementation, and our Project Management menu for more techniques you can use to implement strategy successfully.

Asian Journal of Technology Innovation Volume 20, Altmetric Articles Linking cross-functional collaboration, innovation performance, and competitive intensity: towards a mediated moderation perspective.

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The effects of environmental turbulence on new product development strategy planning. Abstract This study examines the interplay of product development strategy, knowledge utilization, and product innovation performance in the context of Chinese subsidiaries of multinational companies.

When firms strive to develop highly innovative products (breakthrough focus), the amount of resources allocated has a U-shaped relationship to subsequent product innovation performance (i.e.

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