%0 Journal Article
%T Terminology, traits, types, and trajectory of new product development
%A Nikou, Kamran Davari
%J International Business and Global Economy
%V 2017
%R 10.4467/23539496IB.17.020.7468
%N Volume 36
%P 288-308
%K new product development, new service development, typology, trajectory
%@ 2300-6102
%D 2017
%U https://ejournals.eu/en/journal/ibage/article/terminology-traits-types-and-trajectory-of-new-product-development
%X 
	The purpose of this study is to present the terminology, traits, types, transformation, and trajectory of new product development (NPD) from an interdisciplinary perspective, compare the traditional and modern models, and analyse the side effects of NPD. A descriptive and, in some cases, chronological method is used for data analysis. Data has been gathered from more than a hundred credible literature and online sources. The subject matter is discussed in the context of marketing, engineering, strategy, management, and innovation in order to compile a typology and compare traditional and modern models, counter models, and side effects of NPD. Academic NPD literature has been around for only fifty years and is still relatively young. The study uncovers the transformations of new products and services throughout history, thereby revealing the secrets of a really productive NPD – this however, might not be enough, since the future is too fuzzy, complicated, multi-dimensional, and full of discontinuities.