High‐tech NPD success through faster overseas launch

Abstract

Improving customer value through faster response times is a significant way to gain competitive advantage. Suggests that many approaches to new product development (NPD) have an internal focus ‐ in which the NPD process is viewed as terminating with product launch. However, it is process output that really counts, e.g. customer availability. Proposes that with shortening product life cycles it should pay to get the product into the market as quickly as possible, and indicates that these markets should be defined on an international basis. Presents the results of a survey of the new product launch practices of UK high‐tech manufacturing companies. Shows that greater new product commercial success is signifi‐ cantly associated with a more ambitious and speedier launch into overseas markets. The implications are that high‐tech firms wishing to maximize the potential of their new products should see the “advanced” world as their market; penetrating overseas markets as boldly and as quickly as possible. The process of innovation is only complete when potential customers on a world scale are introduced effectively to the new product.