Chapter 3: New product and service development, and process selection

Illustrate the importance of the development of new products and services to a firm’s competitiveness.

Identify the various types of new products that are developed by companies.

Introduce the new product design process and the concept of a product’s life cycle.

Demonstrate the necessity of concurrent product and process design as a new product or service is developed.

Present a framework for understanding how new services are developed and introduced into the marketplace.