Strategic Marketing and New Product Development: AN INTEGRATED APPROACH

Two trends confront managers in the 1990s. Technology will become increasingly important, and firms will tend to become more “market‐oriented”. This will pose considerable challenge to managers responsible for the development and commercialization of new products. Argues that traditional approaches will not work because time‐to‐market will have to be reduced, product technology content will have to be increased, and competitive intelligence will have increased impact on development efforts. Discusses traditional approaches to product development and commercialization and presents a model which integrates engineering concepts and market‐oriented perspectives.