New-Product Design and Technical Development

Abstract

The company, proceeding in the logical manner we have suggested, will ultimately come to the point of deciding whether or not to go ahead with a new idea. At the culmination of screening and more detailed financial evaluation the hope is that some candidate products will stand out most clearly as potential ‘winners’. The cautious firm will not commit itself immediately and may feel that a further period of detailed market research is necessary before making a final decision. Also, it is as well to repeat that the firm may keep its eyes open to merger or acquisition possibilities as an entrée to the market. However, in this chapter we will assume a decision is made to proceed by internal design and technical development.