Abstract:

Successful NPD is one of the foremost challenges that the marketing fraternity grapples with today. Always an uncertain territory, it has become even more of a battle in the present context, with a fatigued consumer overloaded with sameness. An attempt to get the consumer attention in this crowded space has increasingly led to NPD efforts that have an exaggerated focus on the 'radical' and & 'cutting edge'. This paper shares learnings in the arena of new product development. While the successes are obviously important to demonstrate 'best practice' an analysis of the failures is also critical to develop sensitivity to the pitfalls and likely blind spots inherent in innovation exercises.