Development of new product in the fuzzy front end stage with multi-criteria approach

Abstract

Variety of different approaches presented in article can organizations use for finding new methods to efficiently serve existing and new markets. The turbulent global environment is compelling organizations to constantly seek for the most efficient models to maximize their innovation management efforts. As product development (PD) is a responsibility of all departments, their involvement needs to be determined accordingly. An organization's ability to identify, acquire, and utilize external ideas can be seen as a critical factor in regards of its market success. The multi-criteria (MC) product development tool is in article presented as an effective and useful tool in the "fuzzy front end stage" of planning the development of a new product.