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MIDIOR Consulting Releases 5th Annual Benchmark Study of Product Development and Management Practices

Cambridge, MA - - January 10, 2014 - - Today, MIDIOR Consulting released its 2013 Benchmark Study of Product Development and Management Practices. The study, now in its fifth year, offers an in-depth perspective on how product organizations in large multi-national companies function with respect to their operations. Study results show increasing awareness of the critical impact that skilled product management organizations can have on revenue and profits and highlights opportunities for improvement in practicing the discipline. Topics in the study include: approaches to new product development, resource allocation, hiring, use of metrics to track product performance, and ratings assigned to organizational competency and priorities for key product development and commercialization activities.

According to David Abdow, Associate Dean, Executive Programs at the D'Amore-McKim School, Participants in the research are senior executives with global responsibility for products and services. Three industries were targeted in the study: Financial Services, Technology & Communications and Industrial Products & Manufacturing. Findings of interest include:

  • The delta between organizational competency and priority placed on key product management activities points to an opportunity to re-assign resources and focus for better outcomes, most notably in business planning and market research.
  • The majority of companies rely on in-house development as the dominant approach to bringing new products to market. Financial Services is the industry most likely to pursue a partnering model and/or acquisition strategy.
  • In hiring product management talent, innate characteristics such as passion, intelligence and organizational fit are valued most highly. Certification, advanced degrees, and even domain expertise, are less important in predicting the potential for success of new product managers.

“We are now in our fifth year of investigating how product organizations in large companies practice the discipline of product development and management. Our unique research methodology clearly highlights what “Leading the Pack” companies are doing differently from the rest, yielding actionable insights for improving operations,“ noted Susan Loconto Penta, Co-founder and Managing Partner of MIDIOR Consulting.

For a complete copy of the research report with charts that breakdown findings by industry sector and company type, click here.

About MIDIOR Consulting

MIDIOR is a management consulting firm focused on the discipline of product development and management, helping clients better understand their customers’ needs, seize new opportunities and respond to changing markets. MIDIOR's proven leadership in product, platform and information management inspires organizations to challenge conventional thinking and develop the skills necessary to build a sustainable pipeline of successful new products and services. For more information visit www.midior.com.

Media Contact: Nora Gildea