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New Product Development

New products (including new technologies and new services) are one of the main engines for growth in most businesses. Developing a successful new product is challenging enough, but integrating an effective New Product Development (NPD) process could separate you from your competition and provide long term sustainable growth.

Many successful organizations benchmark their new product development process with a goal, i.e.: "25% of sales achieved in any given year must be obtained from new products introduced over the past 3 years". Although this varies depending on your target markets and products, the message is the same - unless you formalize your new product development efforts and set aggressive organizational goals, you're not fully realizing the total potential or your research & development investment.

If you need a formal new product development process or are unhappy with your current new product development results, TekMark can help. Our involvement can be as simple as facilitating an initial brainstorm session that will fill up your research & development pipeline with ideas for new products and services - to the development and integration of a formal stage gate new product development process (from idea generation to post launch review).

Regardless of your organization's size, we can develop a process that is right-sized for your business and generates results in a quick, effective and non-bureaucratic manner. Complying with ISO standards, this process will reduce the impact of individual biases and encourage development efforts that are in the best interests of the company as a whole. Introducing the correct products on a regular basis will differentiate you from your competition, provide new revenue streams, and enable you to realize increased sales and profit margins.