Warc Briefing: NPD Innovation
Definition:New Product Development (NPD) is the process of bringing a product or service to market. Innovation is an entrepreneurial change which has the potential to create value.
- 70% of new products faili.
- Top performing products are 15 times more likely to still be successful at the end of a three year period than low-performing onesii.
- Swiffer, one of P&G's most successful recent launches, was co-created with the Japanese group, Unicharmiii.
History and future outlook
New product development is an essential function for brands in a consumer...