We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

New product development process in the aerospace industry. the introduction of new process - Essay Example

Comments (0) Cite this document
The role that a new product and its development process play in attaining and maintaining the sustainability of the competitive edge for a particular company is given huge…
Download full paper
New product development process in the aerospace industry. the introduction of new process
Read TextPreview

Extract of sample
New product development process in the aerospace industry. the introduction of new process

Download file to see previous pages... History presents several organisations that have ceased to exist simply because of their lack of innovativeness and new products. In the present global society where products become obsolete and services out of date very quickly, new products are the key to success for any business house, be it domestic or international (Lancaster, & Withey, 2007). On the other hand, it is also true that NPD involves huge costs. In fact it is one of the most risk-laden areas among all the operational activities. Moreover, new products are often found to be struggling to achieve the expected success in the market. Failure of new product is very likely to damage the company’s reputation. New product development process of any company is subjected to several barriers which vary from country to country. This literature review includes a discussion on the barriers to new product development process in the context of UK. However, prior to that it is very important to gain insight into the details of the fundamentals that govern a new product development process.
The process of new product development involves several steps. The process starts from idea generation and ends with commercialisation. In between of these two, there are steps like screening, business analysis, development and test marketing. Success of a new product depends on the diligence with which a company has followed these steps. According to David L. Kurtz, MacKenzie and Kim Snow, “traditionally, most of the companies have developed new products through phased development, which follows the six step process in an orderly sequence” (Kurtz, MacKenzie & Snow, 2009). Responsibility regarding each phase moves first from product planners to engineers and designers. In the final phase it passes to the marketers. The phased development process is effective for those firms that dominate ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“New product development process in the aerospace industry. the Essay”, n.d.)
Retrieved from https://studentshare.org/miscellaneous/1568783-new-product-development-process-in-the-aerospace-industry-the-introduction-of-new-process
(New Product Development Process in the Aerospace Industry. The Essay)
“New Product Development Process in the Aerospace Industry. The Essay”, n.d. https://studentshare.org/miscellaneous/1568783-new-product-development-process-in-the-aerospace-industry-the-introduction-of-new-process.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
Goodyear Tire & Rubber Company New Product Development Process
Methodology of the project involves the stages required for new product development. The stages range from the idea generation through internal and external sources to the commercialization of the product. The project discusses the assumptions regarding the financial strength, technological advancement and company’s capability in developing a new product.
11 Pages(2750 words)Essay
Pricing - New Product Development
In long-term goals, the primary objective is to initiate a marketing mix strategy with a right set price for effective product development. Market promotion is a secondary stage, which would be possible if a pricing strategy is there to meet it adequately.
14 Pages(3500 words)Essay
The Power of Real Time Social Media Marketing

The conclusion from this study states that the success of the innovation is pegged on the ability to obtain intellectual property rights and developed working partnerships with both the suppliers and customers. The success of the whole process will depend on the contacts reached as well as the development of a positive relationship between the firms.

14 Pages(3500 words)Essay
New Product Development
The importance of computational theories in the present times can be assessed by the fact that almost all mechanical and manual processing are now being digitized. This is meaning to say that the digital alternatives of many manual, mechanical and tangible processing are being deployed instead of their original predecessors.
4 Pages(1000 words)Essay
Global Markets and the New Product Development Process
(Yelkur, 1996) It is one to in reality discover and calculate the customer's needs and wants but to attain desired outcomes these answer need to be interpreting into corporation language. Therefore, corporation is supposed to focus on what is incorrect with the obtainable product or services and try to appreciate what the purchaser actually needs (Bouchereau, 2000).
9 Pages(2250 words)Essay
New Product Development
With a renewed emphasis on the creation of a more enriching experience every time one goes out and makes a purchase or avails a service, innovation and competitive advantage have become a part of every company's strategy. This paper extensively studies all the steps involved in a concept known as new product development through a study of checklists and other such tools.
26 Pages(6500 words)Essay
Insufficient time becomes a possible challenge when the length of time to develop a new product will not catch up with the launch of a new product based on a marketing intelligence report. Because the time frame of the
8 Pages(2000 words)Essay
New Product Development
This change is aimed on a single target i.e. increase the bottom line, which can be increased by either decreasing cost or increasing revenues. Companies decrease cost by making their operations and value chains much more efficient. While on
6 Pages(1500 words)Essay
New product development
The newly designed product is ‘challenge bar’. The company values on quality, worth for the cash paying and superior promotion. These three things are important in Cadbury’s launch of the new product. The introduction of the new bar
10 Pages(2500 words)Essay
New Product Development Process
Developing new restaurant product menu is critical to provide solutions to emerging needs and variety for consumers to choose from. It also serves as a way of expanding the product line and increasing the
3 Pages(750 words)Coursework
Let us find you another Essay on topic New product development process in the aerospace industry. the introduction of new process for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us