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The Increasing Importance of Product Development Newton, MA, February 2005 — Bringing new products to market faster and at lower cost has never been more important. A new survey of C-level readers of BusinessWeek shows that product development is now one of their highest business goals, and that enhancing their ability to collaborate internally and with partners is a priority. These conclusions are based on an analysis of survey results I received a few weeks ago, from a January 2005 poll of a subset of C-level executives who subscribe to BusinessWeek, either the print or online versions. The poll consists of reponses from 350 CEOs, CFOs, COOs, presidents and other C-level officials; only around 20% are CIOs or CTOs. Roughly seven out of 10 respondents manage companies with at least 1,000 employees. On a scale of one to 10, where 10 equals extremely important, the business goal of bringing products or services to market faster rated almost an 8 on average, rising from 6.6 during the depth of the recession in late 2001.
This growing interest in product development is consistent with other surveys by BusinessWeek and others that have found senior executives focusing more on revenue gains than cost cutting as the economy comes out of the dot bomb doldrums. A key part of the the C-team's emphasis on new product development is process oriented. They know that in this era of outsourcing and focusing on core competencies, the need to streamline new product development is paramount. Suppliers, hot-shot design studios and other third parties are an integral part of new product development these days, and linking a global chain of design contributors into an effective team is a non trivial task. Hence the increasing interest of the C-team in enhancing product development. As the chart below shows, on average the importance of enhancing product development has increased to almost 7 from 5.33, again on a scale of one to 10.
How you can profit from the renewed interest in product development C-level officials are eager to learn more about how to optimize their new product development processes, so they can achieve their revenue goals. You can help teach them about your products and services that enhance design processes by participating in the upcoming "Innovative Product Development" special advertising section in the May 9, 2005, issue of BusinessWeek. Our writer is actively interviewing customers, analysts and competitors right now, so contact me right away to make sure you're included. Contact me via telephone at 617-244-0698 or via e-mail. I can send you a one-page brochure about the section to give you a more detailed idea of our focus and approach. The brochure also has information about our new case study program for our special ad sections in BusinessWeek. Alternatively, if you're interested in how our content development expertise—white papers, case studies, analyst report summaries, multimedia and calculators—can help you cost-effectively improve your lead generation efforts, don't hesitate to give me a call. Legal Stuff The data and charts are Copyright 2005, The McGraw Hill Companies. All rights reserved. This e-mail newsletter is Copyright 2005, Triangle Publishing Services Co. Inc. All Rights Reserved. Thanks again for your interest and support.
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