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What is a New Product?

In: Strategic New Product Development for the Global Economy

Author

Listed:
  • Toyohiro Kono
  • Leonard Lynn

Abstract

In this book we define a “new product” as a product that is new to the company. If the product is simply an improved version of a product the company already has on the market, it’s not a new product for our purposes. On the other hand, if a product is new to the company, even though other companies already make it, we count it as a new product. Such products may not be new to the world, but they are crucial to the success of the company, and developing them is no simple matter.

Suggested Citation

  • Toyohiro Kono & Leonard Lynn, 2007. "What is a New Product?," Palgrave Macmillan Books, in: Strategic New Product Development for the Global Economy, chapter 1, pages 1-18, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-0-230-59938-3_1
    DOI: 10.1057/9780230599383_1
    as

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