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Product Development

Today's Must Read
Jonathan Farrington
The dichotomy facing Sales Directors is how they reconcile the fact that most corporations today provide less upfront training for their sales staff than in years past, yet attach increasing importance to staff...
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Online resources every small-business owner should consider essential.
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Proper evaluation of a franchisor's training program is a critical part of your franchise investigation. Follow these tips to insure you get the whole picture regarding the franchisor's commitment to training.
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Sam Thacker
In the last year I have only spoken with a few small business owners who believe their business is better off now than when Obama took office. It is a case of the...
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There are many different definitions of White Space out there in the areas of Innovation and Business Growth. One way to look at White Space is Externally and Internally...
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Where is your company heading? Do you have a plan to get there? Are all your available resources and assets aligned in the same direction as you growth plans? Growth isn’t easy, and...
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Many people conduct their franchise investigations in a manner that feels strikingly similar to a childhood "game" we all played.
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Peter Suciu
Egypt has banned international calls made through mobile Internet connections
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You have the questions - here's how you find the answers!!
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One goal of Innovation maps is to reveal “White Space” opportunities that exist and create options for developing differentiated products or services from those that currently exist. An Innovation Maps can help find...
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Peter Suciu
Target became the first national retailer to offer a scannable mobile coupon program
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Beginning on Saturday March 13th in Chicago, Illinois, Brain Child Marketing will hold a series of events for inventors, the first day of which is called “Inventor 911”. The three day event, which...
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This is the first in a three part series on Innovation Mapping: 1. This column will address Why Use Innovation Maps? 2. Next week I’ll discuss How to create Innovation Maps 3. The...
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You’ve submitted your product. You've patiently waited for a response. Okay maybe not quite patiently. And then, finally, the moment arrives! But when you open the letter or e-mail you’ve been anticipating, you...
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Jonathan Farrington
Are you able to measure the impact of any investment you have made in training and developing the team in recent years? – i.e. what return have you seen on that investment?
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He may have been a great consultant, but a manager needs to spread the creative wealth
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From beauty products to Google Apps to reselling consignment on eBay - the opportunities for becoming a reseller are endless. What are Resellers? - A reseller is a business or business owner who...
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Paul Mccord
As prospects decide they don't need our help, how can we reclaim our place in the sales process?
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"Good enough" may turn out to be the most profitable innovation strategy.
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If you're thinking of starting a blog for your small business, here are 10 tips.
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New On AllBusiness

Business Glossary

Definitions for: new product development
new product development

preparation for full-scale manufacturing of a product not previously offered by that marketer, including these activities: conceptualization; concept testing and approval; research and development; prototype testing; economic and market research; and decision making with regard to positioning, pricing, packaging, distribution, and promotion. A new product may be a minor or great variation on an existing brand, a true product innovation, or an imitation of a product already on the market. New product development is necessary to maintain market share because demand for most brands or products tends to decline over time. New product development is also a necessary response to new technology and changing market conditions. New product development may be handled by a dedicated department within the company or may be part of each brand manager's responsibilities.

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