Transcription of Chapter 8 New Product Development*
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Chapter 8 New Product Development*
Chapter 8. New Product Development*. by John R. Hauser, MIT. and Ely Dahan January 10, 2007. Chapter in Marketing Management: Essential Marketing Knowledge and Practice Rajiv Grover and Naresh K. Malhotra, Editor McGraw Hill, Inc., Columbus Ohio Draft corrections by John Hauser, July 22, 2008. *Some sections of this Chapter were adapted from Dahan, Ely and John R. Hauser (2003), " Product Management: New Product Development and Launching," Handbook of Marketing, Barton Weitz and Robin Wensley, Eds, Sage Press, (June), 179-222. Hauser and Dahan 1. John R. Hauser is the Kirin Professor of Marketing and Head, Management Science Area, MIT.
Unfortunately, new product development is an extremely challenging and complex process. Innovation is inherently risky, and firms may invest considerable time and money in
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