New product development involves bringing improved or replacement products and services to market to maintain or build sales. It requires identifying unmet customer needs through research and finding tax efficient ways to support innovation. Managing new product development includes generating and screening ideas, developing strategy, protecting intellectual property, and commercializing products through considerations of timing, geography, target markets, and introduction strategy.

1. Best ways to manageBest ways to manage
new-productnew-product
developmentdevelopment

2. What is new productWhat is new product
development?development?
Complete process of bringing aComplete process of bringing a
product to the market. Improved orproduct to the market. Improved or
replacement products and servicesreplacement products and services
that maintain or build sales.that maintain or build sales.

3. How to manage new-productHow to manage new-product
development?development?
Identify unmet customerIdentify unmet customer
needs.needs.
Research your ideasResearch your ideas
Find tax efficient ways toFind tax efficient ways to
support innovation.support innovation.

4. Ways to manage new-productWays to manage new-product
developmentdevelopment
Managing innovation andManaging innovation and
idea generation process.idea generation process.
Development and conceptDevelopment and concept
strategystrategy
Protect ideasProtect ideas
CommercializationCommercialization

5. Managing new ideasManaging new ideas
Interact with othersInteract with others
Interacting with employeesInteracting with employees
Studying competitorsStudying competitors
Adopting creativeAdopting creative
techniquestechniques
Use idea screeningUse idea screening

6. Support innovation with finance and taxSupport innovation with finance and tax
efficient ways.efficient ways.

7. A new idea should be protected withA new idea should be protected with
Intellectual Property Rights (IPR)Intellectual Property Rights (IPR)

8. CommercialisatCommercialisat
ionion
•
When (Timing)When (Timing)
•
Where (Geographical Strategy)Where (Geographical Strategy)
•
To Whom (Target-market prospects)To Whom (Target-market prospects)
•
How (Introductory Market Strategy)How (Introductory Market Strategy)