Ideas factory: planning for success

The success rate of new product development (NPD) investments is a vital concern for companies that depend on new products in order to keep pace with the market and stay ahead of their competitors. Such companies need to be able to justify re-investment in NPD. A poor NPD success rate not only affects current business performance, it also makes it harder to attract further investment. A strong NPD success rate leads to growth and shareholder value. Organisations wishing to improve their NPD success rate through better market focus will benefit from an inbound marketing programme and management role. This is a challenging and subtle position that could add immeasurable value to a business over time - depending on whether the inbound marketing manager is able to outperform his or her counterparts from competing companies.