Shocker Lecture 2004
Allan D. Shocker Lecture
on Product Development
Developing New-Category Products
Products that address new markets with new technologies are the source of future growth for established companies as well as for new ventures. Yet, developing new-category products is a perilous undertaking. In this talk, I define new-category products, describe three common pitfalls, and prescribe several strategies for mitigating risk. Effective management of new-category products is informed by the perspectives of diffusion of innovation, engineering design, and the industry lifecycle. I illustrate the key ideas with examples from several current efforts to launch new-category products.
The Shocker Lecture is presented by the New Product Design and Business Development Program, a joint venture between the Institute of Technology and the Carlson School of Management at the University of Minnesota, and collaborating companies working together to create new products.