Chapter 4 Review

In this chapter, we have learned:

• The definition of new product development success includes happy customers.
• The causes of product failure include:
• Presuming too much
• Lack of process
• Lack of internal resources
• Lack of financial commitment
• Lack of support
• Bad timing
• Bad marketing
• Bad business model
• Mistakes Product Managers Make include:
• Thinking they are the target customer
• Not distinguishing between users and buyers
• Requirements: customer versus product
• Confusing innovation with value
• Confusing features with benefits
• Ways to improve new product success are:
• Measure success
• Better idea generation
• Better research
• Better idea screening
• Common characteristics of successful innovative companies are found in their:
• Operating philosophy
• Organizational structure
• Experience in product development
• Management style
• Tips for successful product development.

Let us go to the next chapter.

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© 2008 John Michael Pierobon

Notes