Five Lethal Product Development and Diversification Traps

Posits that to minimize new‐product miscues, executives must understand more than the marketplace. They also must understand how behavioral forces shape new‐product decisions and the lethal traps that lie along the path leading from a product′s inception to its successful commercialization. Suggests that such knowledge is no less important than understanding customers, competitors, and market trends. Focusses attention on five insidious behavioral traps and offers suggestions for averting pitfalls inherent in making product‐development and diversification decisions.