Definition

Kotler & Keller define NPD as “the process of identifying, screening, developing, and commercializing new products to meet market opportunities.”

Introduction

Innovation is the lifeblood of marketing. The NPD process ensures creativity turns into commercial success—systematically, not by luck.

Explanation

Stages:
1️⃣ Idea Generation
2️⃣ Idea Screening
3️⃣ Concept Development & Testing
4️⃣ Marketing Strategy Development
5️⃣ Business Analysis
6️⃣ Product Development
7️⃣ Test Marketing
8️⃣ Commercialization

Key Takeaways

Customer insight should guide every stage.

Test marketing reduces uncertainty.

Speed + precision = innovation success.

Real-World Case

Dyson Vacuum — developed after 5,000 prototypes and years of user testing, showing persistence in NPD pays off.
Reference: https://www.dyson.com