Best practice in product development is a dynamic target. Not only are new practices being developed and refined but the differences in organisations demand the tailored application of these practices. There are eight basic companies, all projects and at all times. But the company philosoph knowledge, skills and assets change; and these changes cause changes in the types of product innovations and the activities in product development Successful companies recognise that product development is an important strategic issue that demands constant attention. There is a need to evaluate the product development performance and the product development success rate
Product development management in the food system is complex, long term and capital intensive. It is total company management involving every function in the company- so it is managing either a microcosm of the company or an integration of the company functions. For a major innovation, the company may set up a new venture company or division; or a new group of people may form a new company. At this time when many new companies are being formed on the innovations of information technology and biotechnology, it is interesting to speculate on new venture companies in the food industry and the basis of their new innovations. But at the present time
The ability of a company to build a knowledge core and continuously create new nowledge is critical to the success of product development. There are four areas where knowledge is needed for product development the different cultures of the world their needs wants and attitudes. and how they can assimilate and absorb new products
The aim of this chapter is to identify the important factors in food product development to be studied in detail in the succeeding chapters. Firstly the different groups of food products are identified as a basis for organising product strategy. Then the published research on the factors in product failure and product success in all types of industries is used to identify the key factors in food product development. This leads into the management of product development at three different levels:
