Ulcer‐free product development

Abstract

Purpose

To help people who are responsible for product management to avoid risks that often derail a product. Increase the success of a product by making better decisions.

Design/methodology/approach

Critical decisions of product development are outlined and solutions are given in the form of examples taken by other organizations.

Findings

Decisions made early with more information led to cost savings, higher return and lower occurrences of product failures. Risk can be significantly lowered while gains increased.

Practical implications

Product development strategy and management courses may need to incorporate CI as an integral part of their educational studies.

Originality/value

A greater awareness of the critical decisions points in the product development process forces the need for greater competitive intelligence needs. Useful for strategic product managers, executives overseeing product management and product development managers.

Citation

Mockus, D. (2006), "Ulcer‐free product development", Handbook of Business Strategy, Vol. 7 No. 1, pp. 121-124. https://doi.org/10.1108/10775730610618729