Successful Industrial Product Innovation: An Integrative Literature Review

Successful Industrial Product Innovation: An Integrative Literature Review

Successful Industrial Product Innovation: An Integrative Literature Review

Successful Industrial Product Innovation: An Integrative Literature Review

Synopsis

The 1980s information explosion on new-product development demands a broad-scope, up-to-date review of literature. This comprehensive, annotated bibliography cites more than 450 articles and books on product development. It is a thoroughly integrative review of marketing, business, and engineering literatures. First outlining key issues and problems faced by product managers, Calantone and di Benedetto determine to what extent these concerns have been addressed. This report is a valuable entry into innovation literature for both product managers and academic researchers.

Excerpt

The development and marketing of new industrial products is an issue of importance to business managers, technical R&D personnel, and academics. New product development is a risky activity, and the financial stakes can be very high, so the product manager's task is to keep the amount at stake low as long as risk and uncertainty remain high. the industrial product manager is in a position to coordinate the efforts of several individuals or departments within the company in order to achieve success with a new product. Successful new product development demands a strong, healthy interface between marketing, R&D, and manufacturing. At all stages of the product development process, design, engineering, production, and marketing activities must be carried out and coordinated. Thus, effective product development requires the bridging of functional areas within the firm, as well as adequate interfacing with the "outside"--the market and external sources of new product and process ideas.

Beyond these immediate managerial concerns, there are other reasons why success in new product development has become a key investigative issue. in many industries, successful innovation is of critical importance to the continued competitiveness of the firm, both nationally and globally. Furthermore, significant, successful innovation by North American firms in the world market is a powerful sign of economic and scientific vitality. Domestic firms can obtain an edge over foreign competition through successful innovation which results in product competitiveness in the global market.

Successful new industrial product development depends on the coordination of skills and activities from many functional areas within the firm. Due to the very complexity of product innovation, the relevant literature is scattered throughout the marketing, business strategy, and technical/engineering journals. in fact, a journal devoted to issues in product innovation and development has recently been launched (Journal of Product Innovation Management). Despite the virtual information explosion on new product development which has occurred, it has been many years since an attempt was made to compile a comprehensive, annotated bibliography on product innovation. Indeed, the 1976 annotated bibliography by Robert Rothberg, published by the American Marketing Association . . .

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