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Managing Innovation Processes and New Product Development Projects: Operations and Marketing Research Perspectives

In: Innovation and Growth What Do We Know?

Author

Listed:
  • Panos Kouvelis
  • Betul Lus

    (Decision Sciences, School for Graduate Studies, SUNY Empire State College, USA)

Abstract

Most businesses today are under the intense pressure of highly competitive markets combined with shortened product lifecycles. The future growth and survival of these businesses heavily relies on their ability to quickly develop and bring new products to the market or to redesign their existing product lines to meet new market requirements. However, successful and effective introduction of new products is becoming more challenging than ever in recent years due to increased fierce competition and rapid market changes. In this chapter, we discuss the emerging opportunities and challenges that companies face in new product development focusing on the selected topics of platform-based product development, disruptive innovation, portfolio management and resource allocation, and incentives. We provide a review of literature on innovation and new product development in the fields of marketing and operations management and present the most impactful research results and findings on the theory and practice of effective innovation and product development. We also point out knowledge gaps that new research needs to fill.

Suggested Citation

  • Panos Kouvelis & Betul Lus, 2013. "Managing Innovation Processes and New Product Development Projects: Operations and Marketing Research Perspectives," World Scientific Book Chapters, in: Anjan Thakor (ed.), Innovation and Growth What Do We Know?, chapter 3, pages 57-86, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789814343558_0003
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