How To Improve Efficiency Of New Product Development

Nowadays, global economy develops so fast, the success ratio of new product development is decided the company can serve or not. To develop new product consistently, it is not only to make company find more benefit but also to make company adapt the development of the market, help company improving the competence to be a long history firm in the situation.A lot of muti-national companies have very strong capacity on new product development. It is helpful to make a company improving competence in the market if they can develop a product which is widely accepted by the market. More importance is that it makes the company can earn lots of money, means that company can enhance research team further, e.g., Apple is such company. They concentrate the all of effort on the digital music system even at very critical condition. It helps apple enter a totally new area from a PC company after it is successful. Also Ipod can be a demo to the iphone, all of new innovation product bring huge profit for Apple. Based on that, Apple can invent more money to develop new PC&Pad, which keep Apple stay at the top of the technical companies in the world.New product development can’t be success all the time. There is a risk behind it. The percentage of failure is quite high and the cost is huge as well. Sometimes, it may make a company bankrupt. One of well-known case is the Iridium star invented by Motorola. Motorola spend20years to get it commercialization, however, the fact give them a big surprise. A low cost traditional cell phone has been occupied whole market. Due to lack of stable customer source, Motorola lose lot of money and have to stop the business.We always face many challenges during new product development process. It is not only because of traditional technical issue but also because of marketing change and internal cooperation. It is including initiating a process of new product development, product control, technical innovation and marketing innovation. New products development is ology of management system. Many companies have their own unique experience and method on it. And also have lots failure case which can help us to learn from it. We try to build up a standard way to our company on how to improve their efficiency on new product development based on so many experiences. It is the reason why I do the lecture.