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Article: Managing the selection process for new product ideas.(Managers At Work)
- Article from:
- Research-Technology Management
- Article date:
- July 1, 2004
- Author:
CopyrightCOPYRIGHT 2004 Industrial Research Institute Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Over the years, we have accumulated a large number of methodologies that can be used to select new product ideas for further development and subsequent market introduction (1). However, managers do not always use them. Survey studies suggest the reason managers do not use the methods is primarily that they are concerned about their effectiveness and also that there are no clear guidelines for their use (2-4). As the title of this article suggests, new product idea selection is not merely about using a method, but is a process that needs to be managed in order for it to be effective and beneficial. Consequently, I offer the following guidelines for effectively managing this ...