This paper is a review of research in product development, which we define as the transformation of a market opportunity into a product available for sale. Our review is broad, encompassing work in the academic fields of marketing, operations management, and engineering design. The value of this...

This paper assesses the importance of design in determining product costs by measuring the variation in design performance among a set of competing design efforts. This assessment is completed for a set of functionally similar products in a single product category: automatic drip coffee makers....

A common approach to innovation, parallel search, is to identify a large number of opportunities and then to select a subset for further development, with just a few coming to fruition. One potential weakness with parallel search is that it permits repetition. The same, or a similar, idea might...

This article is a review of work published in Management Science on the topics of technological innovation, product development, and entrepreneurship since the inception of the journal in 1954. We intend the article to serve two goals. First, we hope that it will be useful to doctoral students...

When confronted with the task of developing a new product, a firm chooses either to design new components, unique to the product application, or to select components from those offered in the catalogs of suppliers or from those already in use in its other products. We call this the...

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