Method to Identify Focus Areas for New Product Development

摘要

A key element in a New Product Development (NPD) Strategy is the identification of focus areas. This determines the "hunting ground" for a more successful NPD initiatives. However, companies still struggle and give less attention in this space due to the rigorous and complex processes involved. This then leads to a disconnection between the resources and goals in the NPD strategy which resulted in failed initiative and the whole NPD systems is seen as ineffective. To solve this and to identify these focus areas, we developed a systematic process and practical tools processes. These were then applied it in a modified Deplhi workshop approach discussed as a case study in this paper. The facilitated workshop enabled the identification of high numbers of potential focus areas. Prioritization of the outcomes was done using an Opportunity/Feasibility (OFM) matrix. The simple and straight forward method we developed has been shown to be practical and effective in identifying focus areas to pursue NPD projects, leading to a successful program. This process can be extended to use in other identification of business growth opportunities as well.