Business Creation

Innovation is the fundamental for any company to keep energy and competitive strength. And it's the also the key to win new business on the market. How to increase the chance of success while developing a new product, and more important, how to ensure the company benefit from new product development, gain reputation in market and competitive advantage? Those are the major questions that this paper tries to answer.The content of this thesis is developed from one core concept - the target of new product development is the success of market excellence, the definition, execution, monitoring of the whole project must align with this target.This article firstly introduced the major models of product development. Then base on the ideas of those models, especially the PVM model and together with the examples of the development activities of P company, study how to use those ideas in real practice, improve the procedure and result of new product development. The major ideas are:①Emphasize on product portfolio and management, move the focus fromindividual product development to the value and strategy level of the products.②Combine the product development process with marketing management process③Strengthen on product requirement analysis, the alignment between product concept and marketing introduction④Emphasize the project management as the core strength of new productdevelopment⑤Systematic thinking is the right way to improve the effect of productdevelopment...