C. MERLE CRAWFORD STRATEGIES FOR NEW PRODUCT DEVELOPMENT Guidelines for a critical company problem

In spite o f much evidence o f its success, many managers hesitate to establish a policy for new product development. Their indecision often arises f rom two reasons: they fear that a defined strategy may discourage innovation and they are uncertain how to formulate a new product strategy. The author o f this article discredits the former notion and, in reply to the latter, proposes the guidelines for developing such a statement. As new products are essential to the continued success o f most firms, the strategy must exist and must be operant i f the f irm is to avoid wasted time, effort, and money as well as employee confusion and discouragement.