The development of new products and services is key to business success, but a new study from North Carolina State University shows that businesses could do a much better job of evaluating new ideas in order to identify products that will be winners in the marketplace.
"You need more critical screens upfront, so that good decisions get made earlier, bad ideas get eliminated, good ideas get moved forward, and you don't waste time or money on the wrong projects," says study co-author Dr. Mitzi Montoya, Zelnak Professor of Marketing Innovation at NC State.