A firm that leads in technology, product and market development and commercialization, even though an individual product may not lead to profits. Their general goal is to be first to market with any particular innovation.
Learn more about Miles and Snow typologies in A Review of Strategy Types. Innovation Members can download a pdf copy of a Case Study of Prospector Strategy. Others can listen to a 14-minute podcast of Innovation Strategy Types. Innovation Strategy Types
Additional NPD terms can be found in the NPD Glossary.