Benefits of using interactive media in new product development research.

Roberta Chicos

In this paper, we discuss the use of interactive media in the new product development process. The paper is divided into three parts.

Benefits of Using Interactive Media in New Product Development Research

Roberta Chicos Mercer ManagementConsulting Inc, United States

PART I: MARKET RESEARCH USING INTERACTIVE MEDIA

1. The challenge of innovation

The challenge of the new product development process is to capture the behavioral response of the customer early in the new product development process while the investment in development is small. The uncertainty surrounding innovative products which use emerging technologies intensifies this challenge.

New product introductions fall along the continuum from being close substitutes to existing products to truly innovative products where new markets are created. The crucial differentiation along...

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