Principles vs. Practice in New Product Planning

Abstract

The product planning practices at nine large companies in the electronics industry are described and examined in the light of three principles derived from modern management practice. Major deviations between principle and practice are revealed. Close examination of the firms' new product activities suggests that the deviations stem from the inherently complex nature of the process and the premium it places on the need to manage it effectively. Suggestions for improving product planning performance are made. These relate to the need to make the process more uniform and systematic, to improve the guidance provided by strategic planning, and to obtain greater input to the process from marketing research.

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