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Managing New Product Definition In Highly Dynamic Environments, Shantanu Bhattacharya, Viswanathan Krishnan, Vijay Mahajan

Research Collection Lee Kong Chian School Of Business

In highly dynamic environments, characterized by changing customer preferences and uncertainty about competitive products, managing the development of a new product is a complex managerial task. The traditional practice, recommended in the literature, of reaching a sharp definition early in the new product development (NPD) process may not be optimal, desirable or even feasible in such dynamic situations. Under high uncertainty, forcing early finalization of specifications may result in a firm getting locked into an incorrect definition. Based on our study of NPD in the high technology industry, we present a model of an approach called real-time definition, in which …