New Product Development in an Omnichannel World. (November 2020)

• Record Type: Journal Article
• Authors: Gallino, Santiago; Rooderkerk, Robert
• Is Part Of: California management review. Volume 63:Number 1(2021)
• Page Start: 81
• Page End: 98
• Publication Date: 2020-11
• Subjects: new product development -- omnichannel -- cross-functional cooperation -- data analytics -- innovation; Industrial management -- Periodicals; Industrial management; Management; Bedrijfseconomie; Periodicals; 658.005
• DOI: 10.1177/0008125620951969
• Languages: English
• ISSNs: 0008-1256

Abstract

Firms compete in an increasingly omnichannel environment. Customers no longer travel a single linear path but traverse a complex map invoking many channels, firm-owned and external, seamlessly through integrated technology. The associated changes in consumer behavior and the ways that firms engage consumers have led many to reshape the way they innovate their product portfolios. This article presents a structured overview of some of the most striking changes to firms' new product development (NPD) processes in B2C settings. Enlisting the classic NPD funnel, it describes how the omnichannel environment and its technologies affect speed and execution in each development stage. It illustrates key changes with examples from packaged goods, consumer technology, and fashion.