Are we Forgetting External Sources of New Products?

Abstract

A review of 17 marketing principles texts published in the 1980s reveals that only three briefly mention the use of external sources for new product development. External sources such as licensing, joint development programs, subcontracting, and acquisitions or mergers are also neglected by these authors in product life cycle discussions. Since business managers routinely consider external sources for product development and improvement programs, these textual presentations do not accurately reflect marketing practice. We argue that these authors should consider the use of external sources in their presentations of product strategy development and suggest how this might be accomplished. In the long run, more consideration of external sourcing at all levels of marketing curricula will alleviate some of the problems students have in learning these concepts, contribute to more marketing involvement in external sourcing strategies, and help internationalize the marketing educational process.