On the nature of the new product strategy

The aim of this paper is to explore the concept of a new product strategy and its relation to portfolio management for product development. Based on a literature review this research adheres to one perception of the new product strategy proposed by literature complemented with a component adressing the risk-dimension. Next, it is suggested that the new product strategy is embedded in the product development strategy. Subsequently, it is advocated that companies try to achieve a base for realizing integration, synchronization and strategic alignment by means of a new product strategy. These three themes are explicated in a model, which also indicates the relation between the new product strategy and the product development process. Finally, implications for management practice are devised.