Abstract
The author discussed the best way how to conduct the new product development on industrial products from the point of view of a marketing specialist. It is most likely that we can enjoy high expected revenue by keeping the risk minimum when we develop the new product which is the extension of existing one. It is commonly seen that the department in charge of product development is the sole player in this activity. In this case, the work tends to be done in a way that the engineering effort has been emphasized. As a result, the outcome does not necessarily bring good profit to the organization. It is highly recommended that we should fully utilize the marketing concept which will ensure the efficient and risk-minimized process of new product development. We should keep in mind that the sales department will be the key player in new product development.
