Transcription of Chapter 8 New Product Development* - mit.edu
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Chapter 8 New Product Development* - mit.edu
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. Sloan School of Management, Massachusetts Institute of Technology, E40-179, 1 Amherst Street, Cambridge, MA 02142, (617) 253-2929, fax (617) 253-7597, Ely Dahan is an Assistant Professor of Marketing at the Anderson School, University of California at Los Angeles, 110 Westwood Plaza, B-514, Los Angeles, CA 90095, (310) 206- 4170, fax (310) 206-7422, 2.
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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