Impact of innovation on new product development in India

Abstract

In today’s turbulent environment, continuous improvement and effective design and change have become requirement for all organizations. As a result, designing and managing organizational change has been a frequently studied topic over the last few decades. Cooperation of marketing managers with new product project managers in an organization by creating a frame work consistent with the reduction of related risk leads to the development of an organization’s product and increasing its market share. However, the innovation is a process of developing some principles for managing new product development. Approach of any organization depends on its decision-making process which affects how its business system develops and performs in the dynamic scenario. This paper considers general, but fundamental, approaches to decision-making process and innovative marketing management practices, their effects on new product development and finally its influence on business systems.