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The Effectiveness of Customer Participation in New Product Development: A Meta-Analysis
Although the returns of customer participation on new product development (NPD) performance can vary substantially, the current literature lacks a systematic conceptual and empirical integration showing when customer participation is valuable in enhancing NPD performance. Building on knowledge management theory, the authors present a conceptual framework that synthesizes a variety of contingency factors. A meta-analysis empirically examines the moderating effects of contextual factors between customer participation and NPD performance. The analysis reveals that involving customers in the ideation and launch stages of NPD improves new product financial performance directly as well as indirectly through acceleration of time to market, whereas customer participation in the development phase slows down time to market, deteriorating new product financial performance. Furthermore, the benefits of customer participation on NPD performance are greater in technologically turbulent NPD projects, in emerging countries, in low-tech industries, for business customers, and for small firms. The authors discuss several theoretical and managerial implications about when to engage customers in the innovation process.
Journal Article
Leveraging constraints for innovation : new product development essentials from the PDMA
\"Sales- In a single comprehensive volume, covers the full spectrum of constraint-related strategies and techniques in a coherent, integrated fashion - Provides a set of frameworks, techniques, and tools that can be immediately implemented - Offers how-to knowledge on specific tools and methods as applied to innovating products and services when facing constraints as well as the development of new business models - Integrates problem- and solution-based knowledge to enable companies to develop sustainable growth strategies by leveraging constraints and restrictions toward innovation strategies, processes and offerings Product development professionals including engineers, project managers and business managers in a broad range of industries from heavy manufacturing to the service sector. Plus members of the PDMA and those training for the PDMA Professional Certification Examination using the body of knowledge\"-- Provided by publisher.
Book
Virtual Reality in New Product Development
This investigation examines how consumer durable goods producers can leverage virtual reality for new product development. First, the authors develop a prelaunch sales forecasting approach with two key features: virtual reality and an extended macro-flow model. To assess its effectiveness, the authors collect data from 631 potential buyers of two real-world innovations. The results reveal that the new approach yields highly accurate prelaunch forecasts across the two field studies: compared with the actual sales data tracked after the product launches, the prediction errors for the aggregated first-year sales are only 1.9% (Study 1a, original prelaunch sales forecast), .0% (Study 1b, forecast with actual advertisement spending), and 20.0% (Study 1b, original prelaunch forecast). Moreover, the average mean absolute percentage error for the monthly sales is only 23% across both studies. Second, to understand the mechanisms of virtual reality, the authors conduct a controlled laboratory experiment. The findings reveal that virtual reality fosters behavioral consistency between participants’ information search, preferences, and buying behavior. Moreover, virtual reality enhances participants’ perceptions related to presence and vividness, but not their perceptions related to alternative theoretical perspectives. Finally, the authors provide recommendations for when and how managers can use virtual reality in new product development.
Journal Article
Harnessing the AI/ML in Drug and Biological Products Discovery and Development: The Regulatory Perspective
Artificial Intelligence (AI) has the disruptive potential to transform patients’ lives via innovations in pharmaceutical sciences, drug development, clinical trials, and manufacturing. However, it presents significant challenges, ethical concerns, and risks across sectors and societies. AI’s rapid advancement has revealed regulatory gaps as existing public policies struggle to keep pace with the challenges posed by these emerging technologies. The term AI itself has become commonplace to argue that greater “human oversight” for “machine intelligence” is needed to harness the power of this revolutionary technology for both potential and risk management, and hence to call for more practical regulatory guidelines, harmonized frameworks, and effective policies to ensure safety, scalability, data privacy, and governance, transparency, and equitable treatment. In this review paper, we employ a holistic multidisciplinary lens to survey the current regulatory landscape with a synopsis of the FDA workshop perspectives on the use of AI in drug and biological product development. We discuss the promises of responsible data-driven AI, challenges and related practices adopted to overcome limitations, and our practical reflections on regulatory oversight. Finally, the paper outlines a path forward and future opportunities for lawful ethical AI. This review highlights the importance of risk-based regulatory oversight, including diverging regulatory views in the field, in reaching a consensus.
Journal Article
The Determinants of Green Product Development Performance: Green Dynamic Capabilities, Green Transformational Leadership, and Green Creativity
Because no previous literature discusses the determinants of green product development performance, this study develops an original framework to fill the research gap. This study explores the influences of green dynamic capabilities and green transformational leadership on green product development performance and investigates the mediation role of green creativity. The results demonstrate that green dynamic capabilities and green transformational leadership positively influence green creativity and green product development performance. Besides, this study indicates that the positive relationships between green product development performance and their two antecedents—green dynamic capabilities and green transformational leadership—are partially mediated by green creativity. It means that green dynamic capabilities and green transformational leadership can not only directly affect green product development performance positively but also indirectly affect it positively via green creativity. Hence, companies have to increase their green dynamic capabilities, green transformational leadership, and green creativity to enhance their green product development performance.
Journal Article
Design Crowdsourcing: The Impact on New Product Performance of Sourcing Design Solutions from the \Crowd\
The authors examine an increasingly popular open innovation practice, \"design crowdsourcing,\" wherein firms seek external inputs in the form of functional design solutions for new product development from the \"crowd.\" They investigate conditions under which managers crowdsource design and determine whether such decisions subsequently boost product sales. The empirical analysis is guided by qualitative insights gathered from executive interviews. The authors use a novel data set from a pioneering crowdsourcing firm and find that three concept design characteristics—perceived usability, reliability, and technical complexity—are associated with the decision to crowdsource design. They use an instrumental variable method accounting for the endogenous nature of crowdsourcing decisions to understand when such a decision affects downstream sales. The authors find that design crowdsourcing is positively related to unit sales and that this effect is moderated by the idea quality of the initial product concept. Using a change-score analysis of consumer ratings, they find that design crowdsourcing enhances perceived reliability and usability. They discuss the strategic implications of involving the crowd, beyond ideation, in helping transform ideas into effective products.
Journal Article