Virtual reality techniques in NPD research

New product development (NPD) is risky, particularly when not supported by market research. Virtual environment research techniques such as Information Acceleration and Visionary Shopper hold much promise because of the way they cut the NPD timescale and enable consumers to evaluate really new ideas.
  

Virtual Reality Techniques in NPD Research

Philip J.Rosenberger IIIGeorgia State University and Leslie de ChernatonyOpen University Business School

 

Introduction

Managers are continually seeking new products and services. Yet, failure rates vary from 80% (Clancy & Shulman 1992; Miller 1993), to 40% (Davidson 1976). These vary because of issues such as definitions of what constitutes a new product, the sectors investigated, criteria for success and the time frames over which assessments were made. While the numbers vary, the consensus is that success rates are low.

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