new product development
new product development(NPD) A marketing procedure in which new ideas are developed into viable new products or extensions to existing products or product ranges. New ideas, which are generated either internally (e.g. by scientific research) or by feedback from consumers, are first screened for prima facie viability; the few that remain are further reduced by concept tests and detailed analysis of their potential profitability. Any ideas that survive these obstacles are subjected to extensive product development. Prototypes are made and tested within the company and among consumers, and improvements made. This cycle is repeated until satisfactory marketing research results are obtained, when the new product will be launched (possibly at first in a restricted area; seetest marketing). See alsonew-products committee.
New product development.
new-products committee A group within an organization assigned to creating new-product policies, evaluating options, and deciding whether to commercialize new products. Membership usually includes the heads of the organization’s functional departments and the new-products director (if there is one).
- all-inclusive income concept
- allocated quantity
- allocation base
- allonge
- all-or-nothing option
- allotment
- allotted shares
- allowable capital loss
- allowable marketing cost
- allowance
- alpha coefficient
- alpha-release stage
- alteration of share capital
- alternate director
- alternative finance arrangements
- Alternative Investment Fund Managers Directive
- Alternative Investment Market
- alternative trading system
- receiving inspection
- recession
- reciprocal costs
- reciprocal exchange rate
- recognition tests
- Recognized Clearing House
- Recognized Investment Exchange