Keywords: innovation, invention, research, product process-development, linkages, networking, collaboration product-categories, product-innovation, process-innovation know-how, transfer, development, commercialisation, policy, market, industry, trends, strategies
New product development: challenges of globalisation
The dramatic changes in consumption and consumer patterns together with the growth of international mega brand products have put heavy pressure on industry to change its way of doing business, especially its New Product Development (NPD). Strategies such as transfer, merger, acquisition and collaboration are becoming the growing trend nowadays. The success of new products depends mostly on the new product development process and management. Factors which affect the industry are related to the types of new product development, R&D organisation, the R&D and marketing interface related to new product development and nature of the business. This paper discusses the role of R&D, enterprise, and the government etc. in promoting product development. Some cases and criteria for the evaluation of these activities are reviewed. Policies concerning product development are briefly mentioned. Technology development and transfer activities are discussed in the context of product or process improvement. Partnerships are then discussed and the typology of technological-strategic alliances is presented.