三 19-9 The Four Goals of New Product Development 1)Reduce product Cycle Time: reduce time needed to develop a product from conception to market introduction early to market products can command premium prices and will have a longer life cycle a Can add new features before competitors 2)Maximize fit with Customer Needs: most products fail because they were not designed to fit customer needs Ensure customers want the product features before adding them to the product " win/MeGraw-HHill CThe McGraw-Hill Companies, Inc, 200019-9 Irwin/McGraw-Hill ©The McGraw-Hill Companies, Inc., 2000 The Four Goals of New Product Development 1) Reduce Product Cycle Time: reduce time needed to develop a product from conception to market introduction. ◼ Early to market products can command premium prices and will have a longer life cycle. ◼ Can add new features before competitors 2) Maximize fit with Customer Needs: most products fail because they were not designed to fit customer needs. ◼ Ensure customers want the product features before adding them to the product