Managing the selection process for new product ideas

The product development and selection of new product ideas and its marketability is discussed. The new product ideas includes low-tech, high-tech, radical innovations and product modification. The guidelines for effective managing process includes implementation of holistic perspective, flexible process, de-politicize the selection process and emphasize learning. It is suggested that new product development (NPD) is a risky and uncertain endeavor, so holistic views and different viewpoints should be taken into consideration. The firms proceed in the NDP process need to adapt their new product ideas in order to respond to the environmental changes more effectively.