New product development and introduction is a major concern of all companies.  It is especially so for small businesses.  The successful development and introduction of the “right” product or service can mean the difference between your company’s continued success and growth and its decline and failure.  The path is particularly hazardous today with the increased financial pressures, global market considerations, and off shore manufacturing.  As always, you must develop the right product or service for your market, get it right the first time, and do it on time and within budget.

Typical causes of failure are:

• Developing the wrong product or service
  - Inadequate product or service for market requirements
  - Product or service outpaced by technology or competition

• Inadequate planning and control
  - Cost overruns
  - Over designed or incorrectly designed product or service
  - Overpriced product or service

• Schedule delays
  - Missed window of opportunity

• Performance issues
  - Product or service does not meet requirements or expectations

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New Product Development and Introduction Process

The new product development and introduction process varies from company to company, but the essentials of a successful new product or service process are the same for all companies.  This is particularly important as you develop your niche in the new technology areas ... the hydrogen economy, ecologically friendly processes and products, and new applications to revitalize your older products.  You must decide exactly what your market requires, and define, develop, and provide that product or service.  You must also keep in touch with your customers to make sure that your product or service continues to meet requirements and expectations.  In short, you must have a very good plan and must have the discipline to follow that plan.  This can be daunting, but Quality Systems Innovations, Inc. has the help you need to develop and control your new product effectively and to introduce it successfully. 

   New Product Development and Introduction Manual