New Product Development and Innovation: Literature Explorations and Decriptions

This paper explores the New Product Development (NPD) literature by focusing on technological evolution and revolution. Critical success factors in product development are described by real cases. The paper also identifies areas of future study on NPD. Technological evolution is viewed in three perspectives: 1. the best time for new businesses to enter into markets, 2. the incumbents' response to the challenge from an entrant, and 3. the mortality of firms in an industry. The characteristics of each perspective are described in detail. The emphasis on the technological revolution is viewed as the comparison between sustaining technology versus disruptive technology and the types of innovation involved