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Article: New Product Commercialization: Needs and Strategies
- Article from:
- Journal of Applied Management and Entrepreneurship
- Article date:
- April 1, 2007
- Author:
CopyrightCopyright Nova Southeastern University, H. Wayne Huizenga School of Business and Entrepreneurship Apr 2007. Provided by ProQuest LLC. (Hide copyright information)
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Executive Summary
In this paper the authors examine estimates of the high rate of new product failure and the role of management in such failures. Because of the apparent importance of ego involvement in new product failure, the authors suggest that there is a need for unbiased individuals to audit company product development policies, procedures and processes and to do so in light of the commercialization needs of individual new products. The authors present a case study of the commercialization needs of 1700 new products generated as part of a national new product screening experiment conducted in cooperation with Wal-Mart Stores, Inc.
Introduction
Entrepreneurs and innovators often, if ...