{"title":"Improving New Product Development Using Big Data: A Case Study of an Electronics Company","authors":"K. Tan, Y. Zhan","doi":"10.1111/radm.12242","DOIUrl":"https://doi.org/10.1111/radm.12242","url":null,"abstract":"Big data is becoming more important to the new product development (NPD) efforts of global firms. Although the term of big data is not new, very few studies have investigated how firms can harvest big data to facilitate NPD. The purpose of this article is to present the means by which big data can be used to assist firms in NPD to shorten the time to market, improving customers’ product adoption and reducing costs. This research is based on a two-step approach. First, we identified and analysed three world-leading firms that have successfully integrated big data in supporting their NPD. Then, the observations from the firms were used to determine the principle involved in leveraging big data to reduce product development lead times and costs. Given the exploratory nature of the research objective, a participant-observation case study is adopted in which during a 6-month period a NPD project in a fast moving high-tech industry was investigated. This study provides empirical confirmation for the three principles to big data supported NPD: (a) Autonomy; (b) Connection; and (c) Ecosystem. It is termed the ACE principles which we believe represent a paradigm shift to help firms unlock the power of big data and make NPD faster and less costly. This article provides guideline to firms in harvesting big data to better support their NPD: it allows organisations to launch new products to market as quickly as possible; it helps organisations to determine the weaknesses of the product earlier in the development cycle; it allows functionalities to be added to a product that customers are willing to pay a premium for, while eliminating features they do not want; and it identifies and then prioritises customer needs for specific markets.","PeriodicalId":124257,"journal":{"name":"ERPN: Product Development (Sub-Topic)","volume":"33 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129354316","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Intellectual Property Protection Mechanisms in Collaborative New Product Development","authors":"R. Manzini, V. Lazzarotti","doi":"10.1111/radm.12126","DOIUrl":"https://doi.org/10.1111/radm.12126","url":null,"abstract":"Intellectual property (IP) is widely recognized to be a critical issue for implementing open innovation and collaborative research in new product development (NPD). Several intellectual property protection mechanisms (IPPMs) can be employed by companies to protect their critical technology and know‐how (patents, designs, trade secrets, trademarks, copyrights). However, how they should be used in the different phases of collaborative NPD processes is still debatable, and few empirical studies regarding the issue are available at the moment. This paper, which is based upon the case of an Italian NPD service company named MR&D, focuses on one main question: how can companies protect ideas, technology, and know‐how in collaborations concerning different phases of the NPD process? It proposes an initial tentative framework to answer this question by way of an analysis of pertaining literature and a case study.","PeriodicalId":124257,"journal":{"name":"ERPN: Product Development (Sub-Topic)","volume":"39 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124091618","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Turbulence in High Growth and Declining Industries","authors":"R. Baptista, Murat Karaöz","doi":"10.2139/ssrn.1021203","DOIUrl":"https://doi.org/10.2139/ssrn.1021203","url":null,"abstract":"We examine turbulence over the product life cycle using the lowest possible level of industry aggregation, allowing for the use of panel data to study the evolution of single product markets. We find that replacement of exiting firms by subsequent entry plays a primary role in generating turbulence in high growth markets, while displacement of incumbents by recent entrants is the main selection force in declining markets. As product life cycles progress, trial-and-error entry subsides, and turbulence decreases.","PeriodicalId":124257,"journal":{"name":"ERPN: Product Development (Sub-Topic)","volume":"89 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2007-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126222242","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Pharmaceutical Lemons: Innovation and Regulation in the Drug Industry","authors":"Ariel Katz","doi":"10.31235/OSF.IO/5W8XS","DOIUrl":"https://doi.org/10.31235/OSF.IO/5W8XS","url":null,"abstract":"Before a new drug can be marketed the Food and Drug Administration must be satisfied that it is safe and effective. According to conventional wisdom, the cost and delay involved in this process diminish the incentives to invest in the development of new drugs. Accordingly, several reforms aimed at restoring such incentives have been implemented and others have been advocated. This paper challenges the central argument in the debate on the topic, namely that drug regulation and drug innovation are necessarily at odds with each other. Although intuitively appealing, the argument that drug regulation negatively affects the incentives to innovate does not fully capture the role that regulation plays in this industry. This paper shows that the regulatory framework is not solely a burden imposed on the industry; it also provides a valuable service to the industry. Specifically, drug regulation provides certification of drug quality. Such certification, which may not be easily achieved by private market-based mechanisms, prevents the market from becoming a market for \"lemons\". Therefore, rather than decreasing the expected returns to innovation, this aspect of regulation contributes to the value of new drugs and may actually encourage innovation. This point has largely been absent from most cost-benefit analyses of drug regulation, yet without it any discussion of the merits of regulation is incomplete.","PeriodicalId":124257,"journal":{"name":"ERPN: Product Development (Sub-Topic)","volume":"34 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2007-02-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125339675","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Jeremy Hutchison-Krupat, R. Chao, Donald Stevenson
{"title":"Defining Problems and Opportunities in New Product Development (Part 1)","authors":"Jeremy Hutchison-Krupat, R. Chao, Donald Stevenson","doi":"10.2139/ssrn.3027027","DOIUrl":"https://doi.org/10.2139/ssrn.3027027","url":null,"abstract":"Developing new products and services is an iterative process that involves (1) identifying a problem or opportunity that needs to be addressed, (2) generating concepts or solutions that address the problem, and (3) conducting experiments and tests to learn about the success or failure of those concepts. This note describes the first of these activities. Excerpt UVA-OM-1579 Aug. 11, 2017 Defining Problems and Opportunities in New Product Development (Part 1) Developing new products and services is an iterative process that involves (1) identifying a problem or opportunity that needs to be addressed, (2) generating concepts or solutions that address the problem, and (3) conducting experiments and tests to learn about the success or failure of those concepts. This note describes the first of these activities. The user is at the center of this process as shown in Figure 1. Figure 1. The new product development cycle. Source: Created by author. . . .","PeriodicalId":124257,"journal":{"name":"ERPN: Product Development (Sub-Topic)","volume":"140 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133419371","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}