The 5 Mortal Sins of New Product Development
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Sometimes an innovator or new company has an idea for a product that seems to have blockbuster potential -- only to fizzle and flop. Why does this happen? In this interview with EIX's Kim Eddleston, Northeastern University Professor Stephen L. Golden discusses five mistakes that innovators and companies make that can doom a new product: not fixing a genuine need, solving a low-value problem, adding too many features, forgetting to validate the prototype with potential customers and "falling in love with the baby."
Kimberly Eddleston
Schulze Distinguished Professor of Entrepreneurship / D'Amore-McKim School of Business / Northeastern University
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DOI: 10.32617/473-5e5bb89711918
Eddleston, K. (2020, March 1). The 5 mortal sins of new product development. Entrepreneur & Innovation Exchange. Retrieved October 31, 2024, from https://eiexchange.com/content/the-5-mortal-sins-of-new-product-development
Eddleston, Kimberly. "The 5 Mortal Sins of New Product Development" Entrepreneur & Innovation Exchange. 1 Mar. 2020. Web 31 Oct. 2024 <https://eiexchange.com/content/the-5-mortal-sins-of-new-product-development>.