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The Strategy for Product Innovation

Investing in the right development projects and platforms is at the heart of a successful innovation program. But effective project selection and Portfolio Management depend on having a clearly defined innovation strategy.

The steps towards an NPD strategy

     A new-product strategy includes:

1. The goals for your business's total product development efforts
2. The role of product development: how new products tie into your business's overall goals
3. Arenas of strategic focus - the battlefields
4. Spending splits across these arenas (R&D funds, marketing & capital funds for developments)
5. How to attack each arena - the attack plans
  strategic stance or approach
  major initiatives


Sources
Jens Arleth, Planning of new products (in Danish), Technological Institute, 1981.
RG Cooper, Product Leadership, Perseus Books, 2005.


Updated 2007-06-01 - © Jens Arleth, 2007