An individual team leader who applies knowledge, skills, tools, and techniques to project activities in order to meet project goals and requirements. In comparison to a product manager, a project… Read More
NPD Glossary
Capability
Often defined as resources in the context of capacity planning. Capabilities are the activities and functions performed by or acted upon by the organization’s resources. Also known as “competencies”. Find… Read More
Product Innovation
Used interchangeably with “product development” or “new product development”. Product innovation is the creation of a good or service and its subsequent market introduction utilizing new features, technologies, ideas, or… Read More
Capability Strategy
Also known as “capability planning”. Evaluating and analyzing the skill sets and effective resource capacity of an organization to manage new product development projects effectively. Resource planning for capacity is… Read More
New Product Development (NPD)
The overall process of strategy, organization, concept generation, product and marketing plan creation and evaluation, and commercialization of a New Product. Sometimes referred to only as “Product Development.” Demonstrate your… Read More
Crowdsourcing
Crowdsourcing is a process in which needed services, ideas, or other content is obtained by soliciting contributions from a large group of people (the “crowd”). This group of people may… Read More
Concept Evaluation in NPD
As part of a continuing series, we have been investigating the economic tools deployed within an innovation process. You’ll recall that new product development (NPD) is usually managed through a… Read More
Value Creation
Value creation goes hand in hand with value capture in understanding the economics of new product development and pricing models. While value capture measures the perceived benefits less price paid… Read More
Value Capture
Value capture refers to the perceived value that a customer receives from the benefits of using a new product or service relative to the price that he or she pays for… Read More
Reservation Price
A customer’s reservation price is the maximum price that s/he is willing to pay for a product or service. From the seller’s perspective, the reservation price is the minimum price… Read More
Building Innovation Leaders
Linkedin