Product Innovation: Leading Change through Integrated Product Development defines and discusses a comprehensive, state-of-the-art framework for managing product innovation and the related new-product development (NPD) process in complex and challenging business environments. Product innovation involves the conceptualization, design, development, validation, and commercialization of new products and processes that provide superior solutions to the needs and expectations of customers, stakeholders, and society. Product innovation is an essential strategic approach for creating competitive advantages in the dynamic, global business environment.

Globalization; social, political, and economic pressures; technological innovation; and turbulent market conditions and trends have shortened product life cycles and created demands for better, cheaper, cleaner, safer, and more-effective products. Product innovation involves developing new solutions that provide positive benefits to customers and stakeholders. Product innovation is the fundamental management construct used for creating new products, reinvigorating existing products, and solving product-related difficulties with customers and stakeholders.

With a dramatic surge in NPD programs, leading business corporations across the world are improving their NPD processes, capabilities, and approaches to enhance integration and to become more proactive in meeting the realities of changing business landscapes. Entrepreneurs usually launch their businesses based on the introduction of a new product or service. Existing businesses perpetuate themselves by commercializing new products to complement, improve, or replace existing products and product lines.

Product innovation and new-product development involve difficult journeys for most companies, especially those with limited resources.