TITLE

Planning Makes Perfect

AUTHOR(S)
Kono, Ken
PUB. DATE
March 2005
SOURCE
Marketing Management;Mar/Apr2005, Vol. 14 Issue 2, p30
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
This article discusses a study on new product launch planning (NPLP) and offers ideas and suggestions on how to improve and reduce risks of NPLP. Out of 250 targets, 102 marketing executives from manufacturing firms in the U.S. participated in the survey. More than one-fourth, 28%, of all companies reported that their NPLP was carried out well. Majority of the respondents thought there was room for improving the planning and its coordination. Also, the study revealed that the larger firms carried out the NPLP much better than their smaller counterparts. Several reasons were cited for the poor performance of NPLP: not well defined planning steps, weak functional support, ineffective communication, functional silos and poor project management. More than half of the respondents considered functional silos to be the most critical reason that planning coordination was hampered. Mechanisms such as cross-functional teams mitigate functional silos. As a coordination mechanism, cross-functional teams generally serve well for the front-end and middle part of the new product development process. One third of companies surveyed used cross-functional teams as the primary coordinator of NPLP while 37% of the companies reported no use of them. The remaining 30% indicated that they use cross-functional teams on a case-by-case basis, depending on the relative importance or circumstances of particular projects.
ACCESSION #
16975244

 

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