PRODUCT-CENTRIC PERSPECTIVE: CONNECTIVITY IN PRODUCT DEVELOPMENT

Hermawan Kartajaya, Philip Kotler and Den Huan Hooi

Chapter 1 in Asian Competitors:Marketing for Competitiveness in the Age of Digital Consumers, 2019, pp 3-31 from World Scientific Publishing Co. Pte. Ltd.

Abstract: In today’s era of hyperconnectivity, a product-centric company in Asia cannot solely rely on its internal structure and resources to generate new ideas and innovate. In order for the new product development (NPD) process to run with as much accuracy and speed, the involvement of external parties such as customers, suppliers, and regulators is absolutely necessary. The contribution of external parties in each stage and gate of the NPD process becomes increasingly important. For example, in the discovery stage, companies cannot just rely on the marketing research team to look for new ideas out in the market; at this stage, customers should be actively engaged to provide inputs. Technological advancements have greatly improved companies’ abilities to establish greater connectivity with customers, thus aiding the process of collaboration on the development of new products…

Keywords: Asian Competitors; Asian Consumers; Asia; Digital Consumers; Digitization; Digitalization; New Wave Marketing; Marketing; Fourth Industrian Revolution; Changing Environment; Changing Landscape (search for similar items in EconPapers)
JEL-codes: M16 M31 (search for similar items in EconPapers)
Date: 2019
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