How to Measure New Product Productivity in Your Industry

Geovanny Romero blogs on Innovation Excellence about the importance of new product development to keeping your business ahead of the game. But how does your industry fare? He says:

• the best firms have twelve times the productivity in new product development compared to the worst
• the most productivity industry is consumer packaged goods, including food
• the least productive industry is pharmaceutical

For new products to be a succesful part of the business, the new product development process needs to be clear, measurable, sustainable and consistent.

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