Information Needs of New Product Planning and Development

Usually a new know how or an innovation gets assimilated into a production stream only after a long incubation period. Several factors, such as those relating to the attributes of new product, of the firm and of the environment has to be considered with respect to the new product line before the know-how is accepted. Industrial production requires information about industrial feasibility, market potential for goods and services, model schemes, pre-investment studies, organisational and financial matters, permits and licences, plant location and layout, manufacturing management, common service facility, distribution channels, and research and development facility. Some of the major types of institutional sources of information are enumerated. Stages of product development and sources of information are also indicated.