How Do I Choose the Best R&D Strategy?

New product development strategy refers to the strategy of trial production and investment of new products based on market demand and its own resource conditions. The development of new products requires a lot of money and time, and has a profound impact on the future of the enterprise. Therefore, we must review the situation and foresight to formulate new product development strategies. There are four main types of new product development strategies: (1) Development strategy. That is, based on the prototype product, the product can be transformed into a multi-energy or high-energy modified product through development. This strategy is suitable for companies with stereotyped products. (2) Product miniaturization strategy. It refers to the development of products in the direction of unchanged functions, reduced size, and reduced weight, thereby facilitating transportation, installation, use, and operation, greatly reducing production costs and prices, and expanding market demand. (3) Simplified structural strategy. Refers to the internal structure of reformed products. Simplify some functions of the product, make it serialized, generalized and standardized. (4) Reduce consumption strategy. That is, for products that need to consume a certain amount of energy during use, energy-saving development is performed to save electricity, coal, fuel, and water, or use more economical and abundant new energy sources to attract consumers. ^[1]

New product development strategy

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New product development strategy refers to the strategy of trial production and investment of new products based on market demand and its own resource conditions. The development of new products requires a lot of money and time, and has a profound impact on the future of the enterprise. Therefore, we must review the situation and foresight to formulate new product development strategies. There are four main types of new product development strategies: (1) Development strategy. That is, based on the prototype product, the product can be transformed into a multi-energy or high-energy modified product through development. This strategy is suitable for companies with stereotyped products. (2) Product miniaturization strategy. It refers to the development of products in the direction of unchanged functions, reduced size, and reduced weight, thereby facilitating transportation, installation, use, and operation, greatly reducing production costs and prices, and expanding market demand. (3) Simplified structural strategy. Refers to the internal structure of reformed products. Simplify some functions of the product to make it serial, universal and standardized. (4) Reduce consumption strategy. That is, for products that need to consume a certain amount of energy during use, energy-saving development is carried out to save electricity, coal, fuel, and water, or to use more economical and abundant new energy to attract consumers. ^[1]

Modern product management theory believes that new product development strategies must include at least the following four aspects: ^[2]

1. Defensive strategy ^[2]

The development of new products must meet the market demand as the premise, and the company's profit should be the goal. Follow the "development of marketable products according to market needs; determine the development direction according to the company's resources, technology and other capabilities; Development approach. ^[3]

To formulate a correct new product development strategy, three principles should be followed: ^[2]

1. Obey the requirements of the company's overall business strategy

Product decisions, including new product development strategies, are part of a company's operating decisions, and strategic operating decisions should and have made the best choices in terms of corporate resources and the external environment. Therefore, the formulation of new product development strategies should first obey the requirements of the overall business strategy.

2. Accurately define the goals of new product development

Only by accurately defining the new product development goals can we restrict and limit the direction of development work, and help to evaluate the implementation of the development process in the development process, and formulate a correct new product marketing plan.

3 Giving principled guidance to the coordination, control, and decision-making needed during the development process is to avoid excessive disputes and conflicts in the specific development.