Krishna Industries

New Product Development (NPD) is a comprehensive multi-disciplinary process that transforms a market opportunity into a marketable new product to satisfy customer requirements.
NPD is the driving force of companies and vital for their organic growth. Insatiable consumer appetite, strong worldwide competition, and changing consumer behaviour and technology force companies to invest in new products to succeed or for their survival.
A well-tailored NPD strategy will enable companies to organise their product planning, understand their customers, accurately plan and efficiently use its resource for NPD. An NPD strategy will also help to avoid the above-mentioned pitfalls and increase the chance of product success.
Five key new product development stages are Fuzzy Front end, Business case building, Product design, Product Implementation, Commercialisation.