Overview
Innovation and new product development are the lifeblood of company growth.
The ability to develop and bring new products to market quickly, cost effectively and successfully brings a distinct competitive advantage.
The successful introduction of new products into the piping systems market, however, is a complex process with many critical steps. At any one of these steps, significant delays or road-blocks are possible. This can lead to cost overruns and, even more critically, missed opportunity in the market place. Delays of even a few months can be extremely costly.
The key to a truly successful product introduction is to have the right overall strategy and the specific tools and resources in place to ensure a smooth and successful product launch. Once the target market and general product concept have been determined, there are Seven Critical Elements to a successful product launch:
- Application Analysis
- Product Development
- Product Validation
- Codes and Standards Development or Modification
- Certification
- Marketing and Technical Support Data Development
- Field Introduction Support
