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New Product Development

In: Strategic Marketing Management

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  • Emmanuel Mogaji

    (Keele University)

Abstract

This chapter examines the importance of strategic marketing in New Product Development (NPD), focusing on the integration of Customer Value Propositions (CVPs) and Go-to-Market (GTM) strategies. It highlights how NPD drives innovation and ensures products meet customer needs while aligning with organizational goals. By exploring frameworks such as the NPD Funnel, BCG Matrix, and Product Life Cycle (PLC), the chapter provides actionable insights for managers on developing products that stand out in the market. A well-crafted CVP ensures products provide clear value, while a robust GTM strategy guarantees successful product launches and customer engagement. The chapter underscores the importance of cross-functional collaboration, competitive advantages, and leadership in shaping effective marketing strategies. By aligning NPD with strategic goals, companies can drive long-term growth, build customer loyalty, and maintain a competitive edge. This chapter equips managers with the tools and frameworks needed to create impactful products that contribute to sustained business success.

Suggested Citation

  • Emmanuel Mogaji, 2025. "New Product Development," Springer Books, in: Strategic Marketing Management, chapter 0, pages 245-279, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-99367-1_9
    DOI: 10.1007/978-3-031-99367-1_9
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