Much has been written about new product development (NPD) and how to improve the process to do it faster, cheaper, and with better results. This chapter is not about how to improve SMMs product development but rather focuses on the business case—the strategic rationale for pursuing new product development as a growth strategy, whether the company is positioned for NPD, and whether a prospective new product is the “right” one for the company. It presents steps that SMMs can take to avoid common mistakes that increase development costs, delay new products’ getting to market, and that defeat their efforts to develop new products. It is more about the business case and strategic justification (“why”) for new product ...
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