Book Description

Innovation is the key to success in any business, and is the only way to surpass competition. An innovative concept can lead to the development of a new product. This comprehensive book explains how an innovative idea or a concept, if executed properly, can create the best product in the market. The book presents a framework for a new product development, laying emphasis on generic concepts and processes, which are useful and profitable for small and large organizations including the multinationals. The book highlights the innovation theories that are helping service sector companies to prosper and excel in their fields. It also provides a mathematical formula for students to calculate sales-estimation of first-time-sales of a new product. The Ten Case Studies on real-life products from the Indian market enrich the text and enable students to fully understand innovative techniques that help increase the potential and market value of an established product.