15 definitions of new product innovation

Here are 15 definitions of new product innovation:

  1. Radical innovation: The development of a new product or service that is significantly different from existing products or services, often requiring significant changes in business processes and organizational structures. (Source: McKinsey)
  2. Innovative product development: The process of creating new products or services that meet customer needs and provide a competitive advantage. (Source: Harvard Business Review)
  3. New product development (NPD): The process of creating and introducing new products or services to the market. (Source: American Marketing Association)
  4. Product innovation: The creation of new or improved products that meet customer needs and provide a competitive advantage. (Source: Business Dictionary)
  5. Innovative product design: The process of designing new products or services that are unique, functional, and aesthetically pleasing. (Source: Design Council)
  6. Breakthrough innovation: The development of a new product or service that is significantly better than existing products or services, often requiring significant investments in research and development. (Source: Harvard Business Review)
  7. Disruptive innovation: The development of a new product or service that disrupts existing markets and business models, often by offering a lower-cost or more convenient alternative. (Source: Clayton Christensen)
  8. Sustaining innovation: The development of new products or services that improve existing products or services, often by offering incremental improvements in performance, quality, or functionality. (Source: Harvard Business Review)
  9. Radical product innovation: The development of a new product or service that is significantly different from existing products or services, often requiring significant changes in business processes and organizational structures. (Source: McKinsey)
  10. Innovative product launch: The process of introducing a new product or service to the market, often involving marketing and sales strategies to generate buzz and drive adoption. (Source: Forrester)
  11. New product introduction (NPI): The process of introducing a new product or service to the market, often involving product development, testing, and launch planning. (Source: American Marketing Association)
  12. Product innovation management: The process of managing the development and introduction of new products or services, often involving cross-functional teams and stakeholders. (Source: Product Development and Management Association)
  13. Innovative product development process: The process of creating new products or services that involves identifying customer needs, generating ideas, designing and testing prototypes, and launching the product. (Source: Design Council)
  14. New product development strategy: The process of developing and introducing new products or services to the market, often involving a combination of market research, product design, and launch planning. (Source: Harvard Business Review)
  15. Innovative product development methodology: The process of creating new products or services that involves iterative design, prototyping, and testing, often using agile development methodologies. (Source: Agile Manifesto)

These definitions highlight the various aspects of new product innovation, including the development process, product design, launch planning, and management.