Where new products come from

Akio Morita, the chairman of Sony Corporation in Japan, wanted a radio he could carry with him and listen to wherever he went. From that small desire was born the Sony Walkman, a radio small enough to be worn on a belt or carried in a pocket. Not all product development, however, is so easy. Most of today’s products, including many of the basic necessities of food, clothing and shelter, are the result of creative research and thinking by staff. A new product is one that is new for the company that makes it. A hamburger, for example, is not new, but when McDonald’s introduced the Big Mac, it was a new product for that company. Decisions to make a new product can be the result of technology and scientific discovery, but the discovery can be either accidental or sought for. The original punch-card data- processing machine was devised specifically for use by the Bureau of the Census. Penicillin, by contrast, was an accidental discovery and is now one of the most useful antibiotics. Products today are often the result of extensive market research to learn what consumers and retailers want.