NPD Jargon Buster: Technology Transfer

Technology transfer is a bit like trying to get a cat into a bathtub. Y

NPD Jargon Buster: Technology-Driven

A new product or new product strategy based on the strength of a technical capability. Sometimes called "solutions in search of problems."

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NPD Jargon Buster: Test Markets

A test market is like dipping your toe in the water before jumping in the deep end.

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NPD Jargon Buster: Time-to-Market

Time to market is the length of time it takes to develop a new product, from an early initial idea for a new product to initial market sales.

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NPD Jargon Buster: Total Quality Management

Total Quality Management comprehensively and continuously involves all an organisation's functions in improvement activities.

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NPD Jargon Buster: Triple Constraint

The triple constraint is the combination of the three most significant restrictions on any project: scope, schedule and cost.

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NPD Jargon Buster: Fuzzy Front End

The Fuzzy Front End is the messy "getting started" period of product development when the product concept is still very fuzzy.

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NPD Jargon Buster: Work Plan

A detailed plan for executing a project, identifying each phase of the project, the significant steps associated with them, and the specific tasks to be performed.

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NPD Jargon Buster: Whole Product

The term "whole product" refers to a product definition concept that emphasises delivering all aspects of a product which are required for it to have its full value.

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NPD Jargon Buster: Value Proposition

A value proposition is a short, clear, and simple statement of how and on what dimensions a product concept will deliver value to prospective customers.

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NPD Jargon Buster: Corporate Strategy

A corporate strategy is a vital tool for ensuring that a company's product development efforts are aligned with its overall business goals.

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NPD Jargon Buster: Corporate Culture

Corporate culture can be defined as the "feel" of an organisation. Culture arises from the belief system through which an organisation operates.

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NPD Jargon Buster: Core Competence

Core competence is a company's unique ability to provide customers with a distinctive competitive advantage.

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NPD Jargon Buster: Core Benefit Proposition

The Core Benefit Proposition (CBP) is the central benefit or purpose for a consumer buying a product.

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NPD Jargon Buster: Convergent Thinking

Convergent thinking is a technique used to narrow down a large number of ideas into a smaller group or a single idea.

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NPD Jargon Buster: Ambidexterity

Ambidexterity is a vital skill in today's business world. Organisations must be able to balance exploitation and exploration to stay afloat.

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NPD Jargon Buster: Consumer Need

In product development, a consumer need is a problem that the consumer would like to have solved. It is also what consumers would like a product to do for them.

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NPD Jargon Buster: Consumer Market

The consumer market is the market for goods and services purchased by individuals and households rather than businesses.

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NPD Jargon Buster: Consumer

In the context of product development, a consumer is defined as the most generic and all-encompassing term for a firm's targets.

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NPD Jargon Buster: Conjoint Analysis

Conjoint analysis is a market research technique in which respondents are systematically presented with a rotating set of product descriptions.

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NPD Jargon Buster: Concurrent Engineering (CE)

Concurrent Engineering (CE) is a methodology used in product development that emphasizes concurrent development of the product and manufacturing process.

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NPD Jargon Buster: Concept Screening

Concept screening evaluates potential new product concepts during the discovery phase of a product development project.

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NPD Jargon Buster: Concept Generation

Concept generation generates new ideas or concepts for products or services; this can be done individually or in groups.

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NPD Jargon Buster: Concept

A product concept is a description of a new product idea that includes its primary features and consumer benefits.

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NPD Jargon Buster: Competitive Intelligence

Competitive intelligence (CI) is a broad practice of collecting, analyzing, and communicating the best available information on competitive trends externally.

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NPD Jargon Buster: Commercialisation

Commercialisation is the process of taking a new product from development to market. I

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NPD Jargon Buster: Co-location

Co-location refers to the physical act of locating project personnel in one area; this enables more rapid and frequent decision-making and communication among them.

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NPD Jargon Buster: Collaborative Product Development

Collaborative product development (CPD) is when two or more firms work together to create and bring a new product to market.

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NPD Jargon Buster: Circular Economy

The circular economy is an economic system that is restorative and regenerative by design.

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NPD Jargon Buster: Checklist

A checklist can be used to help identify all of the necessary steps in the development process, and to ensure that each step is completed properly.

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NPD Jargon Buster: Charter

In product development, a charter is a document defining the context, specific details, and plans of a project.

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NPD Jargon Buster: Champion

A champion is a person who takes a passionate interest in seeing that a particular process or product is fully developed and marketed.

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NPD Jargon Buster: Centres of Excellence

A Center of Excellence (CoE) is an organizational or geographic unit with an acknowledged technical, business, or competitive competency.

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NPD Jargon Buster: Cash Cow

Cash cows are products with a high share of a market with low overall growth.

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NPD Jargon Buster: Carbon Credits

Carbon credits are a type of offset that can balance out emissions from businesses and other entities.

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NPD Jargon Buster: Capacity Planning

Capacity planning is a technique used in product development to ensure that the right mix of resources is available to develop a product on time.

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NPD Jargon Buster: Cannibalisation

Cannibalisation is the portion of the demand for a new product that comes from the erosion of the demand for (sales of) a current product the firm markets.

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NPD Jargon Buster: Buyer

A buyer is the person who purchases a product, whether or not they will be the ultimate user.

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NPD Jargon Buster: Business-to-Business (B2B)

Business-to-business (B2B) can be characterized as a business model that involves one business entity selling products or services to another business entity.

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NPD Jargon Buster: Business Case

A business case is the result of the market, technical, and financial analyses conducted during the product development process.

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NPD Jargon Buster: Business Analysis

Business analysis is the process of reviewing the business situation surrounding a proposed project and developing a financial plan for the project.

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NPD Jargon Buster: Breakthrough Projects (aka Radical or Disruptive)

Breakthrough projects are those that strive to bring a new product to the market with new technologies; and depart significantly from existing organizational practices.

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NPD Jargon Buster: Breakeven Point

The breakeven point is the point in the commercial life of a product when cumulative development costs are recovered through accrued profits from sales.

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NPD Jargon Buster: Brand

A brand is a name, term, design, symbol, or other feature that identifies a seller's product or service as distinct from those of other sellers.

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NPD Jargon Buster: Brainstorming

Brainstorming is a group method of creative problem-solving frequently used in product concept generation.

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NPD Jargon Buster: Bottom-up Portfolio Selection

The bottom-up approach to portfolio selection starts with a list of individual projects and narrows it down through a process of evaluation and screening.

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NPD Jargon Buster: Bowling Alley

A bowling alley is a type of early stage business strategy that emphasizes focused growth in specific niche markets.

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NPD Jargon Buster: Bill of Materials (BOM)

The Bill of Materials is a critical tool in product development. Essentially, it is a list of all the subassemblies, intermediate parts, and raw materials that are needed

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NPD Jargon Buster: Best Practice

There's no magic formula for developing successful products, but there are certain best practices that tend to improve the odds.

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NPD Jargon Buster: Benefit

In product development, a benefit is an attribute expressed in what the user gets from the product rather than its physical characteristics or features.

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NPD Jargon Buster: Benchmarking

If you want to develop a new product, you'll need to benchmark its performance against similar products. This process is known as benchmarking.

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NPD Jargon Buster: Balanced Scorecard

The Balanced Scorecard is a comprehensive performance measurement technique that balances four performance dimensions.

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NPD Jargon Buster: Balanced Portfolio

A balanced portfolio is one where the proportion of product development projects in specific categories focuses on strategic priorities.

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NPD Jargon Buster: Backup

The lead project is the one that's moving ahead in development, while the backup task is lagging (or working in sync) to provide an alternative asset should the lead proj

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NPD Jargon Buster: Technical Debt

Technical debt is the term used to describe the extra development work that is caused by taking shortcuts when building a product.

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NPD Jargon Buster: Waterfall Product Development

The waterfall product development process is a linear approach to development where each phase must be completed before moving on to the next.

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NPD Jargon Buster: Total Addressable Market (TAM)

The Total Addressable Market (TAM) is the total amount of revenue that a company can generate by selling its products or services to its target market.

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NPD Jargon Buster: Triple Bottom Line

The Triple Bottom Line is a product development philosophy that takes into account, not just the financial bottom line, but also the social and environmental impact.

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NPD Jargon Buster: Voice Of The Customer (VOC)

The Voice of the Customer, or VOC, is an important concept in product development. Simply put, it refers to the needs and wants of your target market.

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NPD Jargon Buster: Vanity Metrics

Vanity metrics are those product development metrics that make us feel good but don't necessarily translate into real success.

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NPD Jargon Buster: Porter's Diamond Model

Porter's Diamond Model is a framework for identifying the factors that contribute to the competitive advantage of a nation or region.

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NPD Jargon Buster: Ansoff Matrix

The Ansoff Matrix is a tool used by businesses to help them plan their product development.

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NPD Jargon Buster: Boston Matrix

The Boston Matrix is a tool used by businesses to help them make decisions about product development.

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NPD Jargon Buster: User Story

A user story is a description of a feature or requirement from the perspective of the person who wants it.

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NPD Jargon Buster: User Persona (or Avatar)

A user persona is a fictional character that represents a specific type of user of a product or service.

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NPD Jargon Buster: Acceptance Testing

Acceptance testing is a process in product development whereby a prototype or product is heavy-duty and subjected to realistic environments and conditions.

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NPD Jargon Buster: Acceptance Test Specification (ATS)

An acceptance test specification (ATS) is a document that defines the criteria that a product must meet in order to be accepted by the customer.

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NPD Jargon Buster: Acceptance Test Procedure (ATP)

An acceptance test procedure (ATP) is a type of testing that is used to ensure that a product meets the specific requirements of the customer or client.

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NPD Jargon Buster: Awareness

Awareness is a key metric in product development, as it helps to gauge how well a new product is being received by the target market.

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NPD Jargon Buster: Autonomous Team

An autonomous team is a product development team that is completely self-sufficient, with very little need for input or supervision from the funding organization.

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NPD Jargon Buster: Augmented Product

The augmented product is the core product, plus all other sources of product benefits, such as service, warranty, and image.

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NPD Jargon Buster: Audit

An audit of new product development is an appraisal of the effectiveness of the processes by which the new product was developed and brought to market.

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NPD Jargon Buster: Attribute Testing

Attribute testing is a quantitative market research technique in which respondents are asked to rate a detailed list of product or category attributes

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NPD Jargon Buster: As-Is-Map

In product development, an as-is map is a version of a process map that depicts how an existing process actually operates.

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NPD Jargon Buster: Anticipatory Failure Determination (AFD)

Anticipatory Failure Determination (AFD) is a failure analysis method used in product development.

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NPD Jargon Buster: Analyser

"Analyser" is a term used in the business world to describe a company that follows an imitative innovation strategy.

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NPD Jargon Buster: Analytical Hierarchy Process

The Analytical Hierarchy Process (AHP) is a decision-making tool for product development and other complex multi-criteria problems where both qualitative and quantitative

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NPD Jargon Buster: Gamma Testing

A final stage of product testing in which the product is subjected to a series of extreme conditions (e.g., high temperatures or extremely heavy use) to ensure that it ca

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NPD Jargon Buster: Beta Testing

Testing of a product by customers under real-world conditions.

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NPD Jargon Buster: Alliance

In product development, an alliance is a formal arrangement with a separate company for the purposes of shared risk and reward.

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NPD Jargon Buster: Agile Product Development

Agile product development is an iterative approach to product development that is performed in a collaborative environment by self-organizing teams.

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NPD Jargon Buster: Affinity Charting

Affinity charting is a "bottom-up" technique for discovering connections between pieces of data.

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NPD Jargon Buster: Adoption Curve

The adoption curve is the journey that consumers or a market take when adopting a new product or technology.

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NPD Jargon Buster: Accidental Discovery

Accidental discovery is a new design, idea, or development from unexpected insight; this can be obtained from within the organization or from an external source.

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NPD Jargon Buster: Use Case

It helps you understand what people need from your product, and how you can design something that meets their needs.

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NPD Jargon Buster: Usability Testing

Usability testing is a process in which potential users of a product are asked to use it in order to assess its strengths and weaknesses.

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NPD Jargon Buster: Unique Selling Proposition (USP)

And it's even harder to keep their attention when they're bombarded with advertising from all sides. How can you make sure your product stands out?

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NPD Jargon Buster: TRIZ (The Theory of Inventive Problem-Solving)

TRIZ works by understanding the relationships between different elements in a problem and then using that knowledge to find solutions.

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NPD Jargon Buster: Work Package

The next and final document in this list is the Work Package (WP) and this is a document that essentially encompasses a set of project tasks.

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NPD Jargon Buster: Quality Register

A Quality Register is a document that is produced to record activities that relate to quality. It attempts to control quality and any changes to it.

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NPD Jargon Buster: Project Product Description

The next document is a Project Product Description, somewhat like the Product Description.

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NPD Jargon Buster: Project Initiation Documentation (PID)

The next document is th Project Initiation Documentation or PID for short. This documentation is arguably the most important of any within the PRINCE2 project management

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NPD Jargon Buster: Product Status Account

The Product Status Account breaks down the current product status, by communicating information such as test results, current cost status and varying factors.

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NPD Jargon Buster: Product Description

The next document is the Product Description, and this is relatively self-explanatory. The outputs of the project may be a service, a product, or it could be both.

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NPD Jargon Buster: Unarticulated Customer Needs

Even if you do your research and ask customers what they want, sometimes they can't articulate their real needs. They might not even be aware of them themselves.

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What are Manufacturing Readiness Levels (MRLs)?

MRLs are quantitative measures used to assess the maturity of a given technology, component or system from a manufacturing perspective.

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NPD Jargon Buster: Risk-Adjusted Net Present Value (ANPV)

In order to make sound decisions about product development, it's important to have a way to adjust for the inherent risk in early-stage projects.

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NPD Jargon Buster: Net Present Value (NPV)

NPV, or Net Present Value, is one of the most common measures of NPD programs and of the portfolio.

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NPD Jargon Buster: Additive Manufacturing

Additive manufacturing offers an innovative solution that can help companies shorten their design cycles while still producing high-quality products.

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NPD Jargon Buster: Activity-Based Costing (ABC)

Activity-based costing (ABC) is an accounting method for assigning costs of production activities to products based on the consumption of those activities by the product.

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Key Takeways

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NPD Jargon Buster: Technology Transfer

NPD Jargon Buster: Technology-Driven

NPD Jargon Buster: Test Markets

NPD Jargon Buster: Time-to-Market

NPD Jargon Buster: Total Quality Management

NPD Jargon Buster: Triple Constraint

NPD Jargon Buster: Fuzzy Front End

NPD Jargon Buster: Work Plan

NPD Jargon Buster: Whole Product

NPD Jargon Buster: Value Proposition

NPD Jargon Buster: Corporate Strategy

NPD Jargon Buster: Corporate Culture

NPD Jargon Buster: Core Competence

NPD Jargon Buster: Core Benefit Proposition

NPD Jargon Buster: Convergent Thinking

NPD Jargon Buster: Ambidexterity

NPD Jargon Buster: Consumer Need

NPD Jargon Buster: Consumer Market

NPD Jargon Buster: Consumer

NPD Jargon Buster: Conjoint Analysis

NPD Jargon Buster: Concurrent Engineering (CE)

NPD Jargon Buster: Concept Screening

NPD Jargon Buster: Concept Generation

NPD Jargon Buster: Concept

NPD Jargon Buster: Competitive Intelligence

NPD Jargon Buster: Commercialisation

NPD Jargon Buster: Co-location

NPD Jargon Buster: Collaborative Product Development

NPD Jargon Buster: Circular Economy

NPD Jargon Buster: Checklist

NPD Jargon Buster: Charter

NPD Jargon Buster: Champion

NPD Jargon Buster: Centres of Excellence

NPD Jargon Buster: Cash Cow

NPD Jargon Buster: Carbon Credits

NPD Jargon Buster: Capacity Planning

NPD Jargon Buster: Cannibalisation

NPD Jargon Buster: Buyer

NPD Jargon Buster: Business-to-Business (B2B)

NPD Jargon Buster: Business Case

NPD Jargon Buster: Business Analysis

NPD Jargon Buster: Breakthrough Projects (aka Radical or Disruptive)

NPD Jargon Buster: Breakeven Point

NPD Jargon Buster: Brand

NPD Jargon Buster: Brainstorming

NPD Jargon Buster: Bottom-up Portfolio Selection

NPD Jargon Buster: Bowling Alley

NPD Jargon Buster: Bill of Materials (BOM)

NPD Jargon Buster: Best Practice

NPD Jargon Buster: Benefit

NPD Jargon Buster: Benchmarking

NPD Jargon Buster: Balanced Scorecard

NPD Jargon Buster: Balanced Portfolio

NPD Jargon Buster: Backup

NPD Jargon Buster: Technical Debt

NPD Jargon Buster: Waterfall Product Development

NPD Jargon Buster: Total Addressable Market (TAM)

NPD Jargon Buster: Triple Bottom Line

NPD Jargon Buster: Voice Of The Customer (VOC)

NPD Jargon Buster: Vanity Metrics

NPD Jargon Buster: Porter's Diamond Model

NPD Jargon Buster: Ansoff Matrix

NPD Jargon Buster: Boston Matrix

NPD Jargon Buster: User Story

NPD Jargon Buster: User Persona (or Avatar)

NPD Jargon Buster: Acceptance Testing

NPD Jargon Buster: Acceptance Test Specification (ATS)

NPD Jargon Buster: Acceptance Test Procedure (ATP)

NPD Jargon Buster: Awareness

NPD Jargon Buster: Autonomous Team

NPD Jargon Buster: Augmented Product

NPD Jargon Buster: Audit

NPD Jargon Buster: Attribute Testing

NPD Jargon Buster: As-Is-Map

NPD Jargon Buster: Anticipatory Failure Determination (AFD)

NPD Jargon Buster: Analyser

NPD Jargon Buster: Analytical Hierarchy Process