This practical book introduces readers to the essential business aspects of innovation and new product planning. The product planning process is discussed across two broad themes: product development and product management. Importantly, the book emphasizes the 21st-century strategic and creative mindset necessary to drive business innovation activities in a concise, yet comprehensive manner. The book delves into the front end of innovation and formal product development activities, examining the topics of opportunity identification, concept generation and evaluation, technical development, product design, testing, launch strategies, product management, life cycle management, brand management, and vital elements for international success. There are stand-alone notes that serve to apprise readers on related topics such as the use of agile product development methodologies, the formation of business entities, and recommended best practices for new product development. The book excels at providing relevant examples and applied tools that augment the concepts to offer valuable connections to real-world product planning efforts. This book is particularly useful as a guide to learning the fundamental concepts and strategies associated with innovation and new product planning. Among student audiences, upper-level undergraduate and first-year graduate students are likely to benefit as the book embraces its position to serve as a primer on product development and management.

This book will focus on the up-front activities required for product and service differentiation, the learning methodologies that contribute to arriving at that differentiation, and the role that technology plays in implementing the process. The book will show how technology factors into such entrepreneurial activities as engaging in business planning and utilizing creativity and innovation, and how creative innovation, in turn, is achieved and enhanced through an understanding of two different modes of learning: "learning about" and "learning by doing". A successful product introduction depends on an efficient supply chain, a strong brand, and the ability of a manufacturer or provider to differentiate it successfully in the marketplace. New Product and Services Development demonstrates how differentiation, this last critical component, can be secured by the strategic use of technology and by engaging in two key learning methodologies.

The current marketplace is undergoing an accelerated pace of change that challenges corporations to innovate new techniques to respond rapidly to an ever-changing environment. At the center of this changing environment is a new generation of empowered buyers (customers) equipped with fast evolving technologies that allow them to buy from markets scattered across the globe. Empowering the customers has deprived organizations of what was once their right-to introduce new products slowly, at their own leisure. Organizations used to introduce new products every few years, and, for the most part, products offered limited functionalities and features. A low-priced quality product-irrespective of customer satisfaction-was a guaranteed ticket for success. New global economies and global markets changed business practices and focused on the customer as the major player in the economy. Organizations now fail or succeed based upon their ability to respond quickly to changing customer demands and to utilize new technological innovations. In such an environment, the advantage goes to the firm that can offer greater varieties of new products with higher performance and greater overall appeal. In order to compete in this fast-paced global market, organizations need to produce products that can be easily configured to offer distinctive capabilities compared to the competition. Furthermore, organizations need to develop new methods and techniques to react rapidly to required changes in products and market trends and to shorten the product development cycle, which will enable them to gain more economic competitiveness.

Explains how companies must pinpoint business strategies to a few critically important choices, identifying common blunders while outlining simple exercises and questions that can guide day-to-day and long-term decisions.

Covers the entire process of product development from idea to launch without missing a step!

Create a winning game plan for your digital products with Strategize: Product Strategy and Product Roadmap Practices for the Digital Age, 2nd edition. Using a wide range of proven techniques and tools, product management expert Roman Pichler explains how to create a winning product strategy and actionable roadmap. Comprehensive and insightful, the book will enable you to make the right strategic decisions in today’s dynamic digital age. If you work as a product manager, Scrum product owner, product portfolio manager, head of product, or product coach, then this book is for you. What you will learn: * Create an inspiring vision for your product. * Develop a product strategy that maximises the chances of launching a winning product. * Successfully adapt the strategy across the product life cycle to achieve sustained product success. * Measure the value your product creates using the right key performance indicators (KPIs). * Build an actionable outcome-based product roadmap that aligns stakeholders and directs the product backlog. * Regularly review the product strategy and roadmap and keep them up-to-date. Written in an engaging and easily accessible style, Strategize offers practical advice and valuable examples so that you can apply the practices directly to your products. This second, revised, and extended edition offers new concepts, more tools, and additional tips and examples. Praise for Strategize: "Strategize offers a comprehensive approach to product strategy using the latest practices geared specifically to digital products. Not just theory, the book is chock-full of real-world examples, making it easier to apply the principles to your company and products. Strategize is essential reading for everyone in charge of products: product executives, product managers, and product owners." Steve Johnson, Founder at Under10 Consulting. "Whether you are new to product management or an experienced practitioner, Strategize is a must read. You are guaranteed to get new ideas about how to develop or improve your product strategy and how to execute it successfully. It’s an essential addition to every product manager’s reading list." Marc Abraham, Senior Group Product Manager at Intercom.