activities co-currently. In other words, undertaking a process of paral-
lel development. Encouraging functional areas, department and indi-
vidual to work more closely has a number of advantages. Firstly, this
overlapping, parallel approach reduces overall development time.
Secondly, as activities are being undertaken at the same time, they can
share information and a more interactive approach can be taken. This
can improve the overall quality of the process. To illustrate, a technical
and marketing feasibility assessment could be conducted as one
process, generating a more vigorous product/market specification.5 Strategic direction
NPD requires a strategic focus and clear links must be established
between overall corporate strategy and the NPD process. As previ-
ously stated, strategic objectives can be used as a template against
which new product ideas are evaluated.
Additionally, the process of strategic analysis and audit should provide
valuable information (external and internal) relating to the development
of product offerings. The aim is to integrate: (i) technical development –
improving the technical capability of the product, (ii) process develop-
ment – improving the provision/production of products and services
and (iii) marketing strategy into one coherent framework (Figure 10.2).
Product development and innovation 219Corporate strategy- Direction
- Analysis
- Objectives
Technical
developmentProcess
developmentNew product
developmentExternal
environment environmentInternalRelationship marketing
strategyFigure 10.2
Strategic direction
of NPD6 Knowledge management
This concept is closely related to strategic direction. Increasingly, organ-
isations are developing knowledge management strategies. Mobilising
and managing the knowledge base of the organisation is rapidly becom-
ing a management priority. The collective experience and accumulated