Innovation Management In New Product Development: Integrating Technical Feasibility, Market Requirements, And Profit Margin Targets

Fatima Khatun

Authors

Fatima Khatun National University, Gazipur, Bangladesh

Keywords:

innovation management, new product development, technical feasibility, market requirements, profit margin, cross-functional collaboration, product success

Abstract

This study examines innovation management in new product development with an emphasis on balancing technical feasibility, market requirements, and corporate profit margin targets. The research employs a qualitative literature review methodology to analyze existing concepts and frameworks in product innovation management. The findings indicate that successful product development requires simultaneous consideration of all three dimensions through cross-functional collaboration from the earliest stages of concept formulation. Integrated decision-making processes, iterative prototyping approaches, and organizational cultures that support innovation emerge as key success factors. The study identifies trade-off analysis capability, balanced performance measurement systems, and post-launch evaluation as essential mechanisms for maintaining equilibrium among technical, market, and financial considerations. The conceptual framework developed in this research provides theoretical contributions to the field of innovation management and offers practical guidance for product managers and development teams. Organizations that adopt an integrated approach to managing product innovation are better positioned to achieve sustainable competitive advantage through successful new product launches.

References

Adeleke, A. G., Sanyaolu, T. O., Efunniyi, C. P., Akwawa, L. A., & Azubuko, C. F. (2024). Market trend analysis in product development: Techniques and tools. International Journal of Management & Entrepreneurship Research, 6(9), 2889–2912. https://doi.org/10.51594/ijmer.v6i9.1530

Ahumada-Tello, E., Castañón-Puga, M., Gaxiola-Pacheco, C., & Evans, R. (2019). Applied decision making in design innovation management. Dalam Innovation management and design thinking (hlm. 95–114). Springer. https://doi.org/10.1007/978-3-030-17985-4_5

Akin, Ö., & Lin, C. (1995). Design protocol data and novel design decisions. Design Studies, 16(2), 211–236. https://doi.org/10.1016/0142-694X(94)00010-B

Alamin, S. R. L., Nurmalasari, D., Darmawan, D., & Arifin, S. (2021). Comprehensive relational value marketing framework. Journal of Social Science Studies, 1(1), 299–304.

Arifin, S., & Darmawan, D. (2021). Implementation of social responsibility in sustainable marketing. Journal of Social Science Studies, 1(2), 279–284.

Arifin, S., M. Khairi & A. Rahman. (2022). Conventional Traders' Survival Strategies in the Middle of Online Shop Development (Case Study of Clothing Selling). Journal of Social Science Studies, 2(2), 31 – 34.

Barzani, L. A., Darmawan, D., & Zulkarnain, M. A. B. (2022). The Application of Sustainable Supply Chain Management Principles in the Manufacturing Industry to Improve Operational Performance and Corporate Social Responsibility. International Journal of Service Science, Management, Engineering, and Technology, 1(1), 38–45.

Blank, T. H., & Naveh, E. (2019). Managing creativity and process tensions in innovation. IEEE Engineering Management Review, 47(4), 15–17. https://doi.org/10.1109/EMR.2019.2950305

Braunstein, M. (2015). Product fail? Maybe the market research was to blame. Design Management Review, 26(2), 24–27. https://doi.org/10.1111/DREV.10322

Cahyati, F. L. I., & Mardikaningsih, R. (2021). Event organization and sponsorship in increasing brand awareness. Journal of Social Science Studies, 1(1), 293–298.

Cioca, L.-I., Bogdan, L., & Cioca, A. (2007). Production flexibility and adapting to market changes. IFAC Proceedings Volumes, 40(18), 777–782. https://doi.org/10.3182/20070927-4-RO-3905.00128

Darmawan, D. & E. Grenier. (2021). Competitive Advantage and Service Marketing Mix. Journal of Social Science Studies, 1(2), 75-80.

Darmawan, D. (2018). The Effect of Brand Experience on Brand Trust and Brand Loyalty. Jurnal Translitera, 7(2), 13-24.

Darmawan, D. (2019). The Effect of Corporate Image on Brand Awareness and Brand Attitude. Jurnal Translitera, 8(1), 13-26.

Darmawan, D. (2019). The Effect of Customer Satisfaction on Trust and Customer Loyalty. Management & Accounting Research Journal Global, 3(2).

Darmawan, D. (2022). Literature Review on Antecedents of Customer Switching Behavior. Bulletin of Science, Technology and Society, 1(3), 1-5.

Darmawan, D. (2022). The effect of trust and saving experience on loyalty through satisfaction as an intervening variable (Case study of Sharia bank customers in Surabaya city). International Journal of Service Science, Management, Engineering, and Technology, 2(2), 11-20.

Darmawan, D. (2023). Innovation Culture That Balances Technological Speed with the Depth of Humanistic Thought. International Journal of Service Science, Management, Engineering, and Technology, 4(1), 47–54.

Darmawan, D. (2023). Knowledge Management as a Source Of Competitive Advantage in Information Technology Companies. International Journal of Service Science, Management, Engineering, and Technology, 3(2), 44–50.

Darmawan, D. (2023). Measuring Employee Productivity in the Digital Era by Considering Human Creativity and Innovation. International Journal of Service Science, Management, Engineering, and Technology, 4(3), 47–53.

Darmawan, D. (2023). Social Inclusion for Older Workers in the Implementation of Digital Technology within Organizations. International Journal of Service Science, Management, Engineering, and Technology, 4(2), 44–51.

Darmawan, D. (2023). The Concept Of Remote Work: A Literature Review on its Impact on Work Dynamics, Psychological Well-Being, and Social Relationships Among Employees. International Journal of Service Science, Management, Engineering, and Technology, 3(3), 49–55.

Darmawan, D. (2024). Strategies for Enhancing Employee Knowledge fnd Engagement in Automated Routine Work. International Journal of Service Science, Management, Engineering, and Technology, 6(1), 65–71.

Darmawan, D. (2024). The Influence of Empowering Leadership Style on Enhancing Team Members’ Autonomy and Innovation Capacity. International Journal of Service Science, Management, Engineering, and Technology, 6(3), 48–55. Retrieved from https://ejournalisse.com/index.php/isse/article/view/232

Darmawan, D. (2024). The Role of Technology in Promoting or Hindering Gender Equality in the Workplace. International Journal of Service Science, Management, Engineering, and Technology, 6(2), 67–73.

Darmawan, D. (2024). Workforce Diversity Management Strategies for Enhancing Innovation and Team Performance. International Journal of Service Science, Management, Engineering, and Technology, 5(2), 53–59. Retrieved from https://ejournalisse.com/index.php/isse/article/view/230

Darmawan, D. (2025). Cross-Channel Orchestration and Service Consistency in Omnichannel Customer Experience: Implications for Service Costs, Retention, and Customer Lifetime Value. International Journal of Service Science, Management, Engineering, and Technology, 7(2), 30–38.

Darmawan, D., & Mardikaningsih, R. (2023). The Role of Flexible Organizational Structures in Enhancing Corporate Adaptability to Environmental Dynamics. International Journal of Service Science, Management, Engineering, and Technology, 3(1), 44–49.

Darmawan, D., & Mardikaningsih, R. (2022). The Role of Positive Psychological Factors in Enhancing Employee Engagement and Commitment to Work Tasks. International Journal of Service Science, Management, Engineering, and Technology, 1(2), 37–45.

Darmawan, D., R. Mardikaningsih, & M. Hariani. (2019). The Effect of Endorser Celebrity, Attitude Toward to Ads, and Brand Attitude on Purchase Intention. Relasi - Jurnal Ekonomi, 15(2), 263-276.

Dissel, M., Probert, D., & Mitchell, R. (2008). From gut feel to educated approximations: Towards an integrated approach for technology valuation. Proceedings of the Portland International Conference on Management of Engineering and Technology (PICMET), 2073–2080. https://doi.org/10.1109/PICMET.2008.4599828

Essa, N. E., & Mardikaningsih, R. (2021). Sustainability communication through green marketing: Strengthening consumer awareness and corporate environmental integrity. Journal of Social Science Studies, 1(2), 233–238.

Essardi, N. I., Mardikaningsih, R., & Darmawan, D. (2022). Service Quality, Product Diversity, Store Atmosphere, and Price Perception: Determinants of Purchase Decisions for Consumers at Jumbo Supermarket. Journal of Marketing and Business Research (MARK), 2(2), 95-104.

Falahat, M., Chuan, C., & Liew, C. (2023). Navigating new product development: Uncovering factors and overcoming challenges for success. Heliyon, 9(11), e23763. https://doi.org/10.1016/j.heliyon.2023.e23763

Fared, M. A., & Darmawan, D. (2021). Use of consumer behaviour data for personalised advertising in digital marketing. Studi Ilmu Sosial Indonesia, 1(2), 93–108.

Fared, M. A., Darmawan, D., & Khairi, M. (2021). Contribution of e-service quality to repurchase intention with mediation of customer satisfaction: Study of online shopping through marketplace. Journal of Marketing and Business Research (MARK), 1(2), 93-106.

Gani, A. & D. Darmawan. (2022). Ethics and Accountability in Artificial Intelligence-Based Managerial Decision Making. Journal of Social Science Studies, 2(1), 147 – 152.

Gani, A., Khayru, R. K., & Darmawan, D. (2021). Minimalism trends in consumption behavior: Social inequality and industrial dynamics. Journal of Social Science Studies, 1(1), 129–134.

Gardi, B. & D. Darmawan. (2022). Study of Shopping Lifestyle, Sales Promotion and Impulsive Buying Behavior. Journal of Marketing and Business Research, 2(2), 125-134.

Gatignon, H., Gotteland, D., & Haon, C. (2016). New product teams. Dalam Making innovation work (hlm. 3–47). Palgrave Macmillan. https://doi.org/10.1007/978-1-137-57264-6_1

Gu, P., Xue, D., Peng, Q., & Zhang, J. (2023). Introduction. Research on Intelligent Manufacturing, 1–29. https://doi.org/10.1007/978-981-99-5869-6_1

Hariani, M. (2022). Determination of A Marketing Strategy to Develop Shrimp Crackers Msmes Using the SWOT Method. International Journal of Service Science, Management, Engineering, and Technology, 1(3), 24–30.

Hariani, M., & Sinambela, E. A. (2020). The Effect of Price Perception, Service Quality, and Product Diversity on Superindo Customer Loyalty in Surabaya. Journal of Science, Technology and Society (SICO), 1(1), 29–36.

Hartana, P. C., Mardikaningsih, R., & Halizah, S. N. (2024). Legal Construction and Enforcement Challenges of Credit Card Data Hacking Crimes in E-Commerce Systems. Journal of Social Science Studies, 4(2), 503-516.

Hidayat, W., D. Darmawan, & R. Hardyansah. (2024). Building Business Defense and Value: A Study on Legal Protection of Trademarks, Copyrights, and Industrial Designs for MSMEs, Journal of Social Science Studies, 4(2), 381-396.

Infante, A. & R. Mardikaningsih. (2022). The Potential of social media as a Means of Online Business Promotion. Journal of Social Science Studies, 2(2), 45-49.

Issalillah, F. (2024). The Relationship Between Financial Literacy and Financial Awareness with Generation Z’s Investment Patterns. Journal of Social Science Studies, 4(2), 93-100.

Issalillah, F. (2025). Older Workforce Management Policies and Degenerative Disease Risks in Labor Intensive Industries. International Journal of Service Science, Management, Engineering, and Technology, 7(3), 53–62. https://ejournalisse.com/index.php/isse/article/view/243

Issalillah, F., & Khayru, R. K. (2025). Mental Health Policies and Programs in Building Long Term Employee Loyalty. International Journal of Service Science, Management, Engineering, and Technology, 7(2), 39–47. https://ejournalisse.com/index.php/isse/article/view/239

Jauhari, M. A., Negara, D. S., & Darmawan, D. (2024). Responsibilities of Digital Marketplace Platforms and Anticompetitive Assessments in Business Law. Journal of Social Science Studies, 4(1), 407-422.

Junaidi, J., Hardyansah, R., & Putra, A. R. (2024). Business Dispute Resolution through Arbitration and Mediation within the National Legal Framework. Journal of Social Science Studies, 4(1), 423-436.

Karlsson, M., & Magnusson, M. (2019). The systems approach to innovation management. Dalam The Routledge handbook of innovation management (hlm. 73–90). Routledge. https://doi.org/10.4324/9781315276670-5

Khayru, R. K. (2021). Opinions about consumer behavior during the Covid-19 pandemic. Journal of Social Science Studies, 1(1), 31–36.

Khayru, R. K., & Arifin, S. (2025). Corporate Efforts and Strategies in Fulfilling Responsibility for Employee Mental Health in the Era of Digital Productivity Pressure . International Journal of Service Science, Management, Engineering, and Technology, 7(1), 44–52. Retrieved from https://ejournalisse.com/index.php/isse/article/view/235

Koester, E., & Mojet, J. (2012). Flops analysis: A useful tool for future innovations. Part 2: The reduction of future flop risks. Agro Food Industry Hi-Tech, 23(2), 6–10.

Mahadik, S., Pakanati, D., Cherukuri, H., Jain, S., & Jain, S. K. (2024). Cross-functional team management in product development. Journal of Modern Product Development, 1(2), 270–294. https://doi.org/10.36676/mdmp.v1.i2.24

Mardikaningsih, R. & D. Darmawan. (2022). Situational Leadership Strategies to Improve Change Management and Team Performance. Journal of Social Science Studies, 2(1), 247 – 252.

Mardikaningsih, R., & Darmawan, D. (2022). The Role of Self-Efficacy in Predicting Employee Adaptability to Technological Change in the Workplace,. International Journal of Service Science, Management, Engineering, and Technology, 2(3), 43–55.

Mardikaningsih, R., & Essa, N. E. (2025). Cross-functional HRM and Marketing Collaboration in Driving Consumer Needs-based Eco-Friendly Product Innovation. Bulletin of Science, Technology and Society, 4(2), 69-78.

Mardikaningsih, R., & Hariani, M. (2023). Technology strategy in product development for sustainable innovation in global markets. Journal of Social Science Studies, 3(2), 71–76.

Mardikaningsih, R., & Hariani, M. (2025). The Implementation of Distributive Justice in Allocating Efficiency Gains Generated by Technology. International Journal of Service Science, Management, Engineering, and Technology, 7(3), 45–52. Retrieved from https://ejournalisse.com/index.php/isse/article/view/242

Mardikaningsih, R., & Nuraini, R. (2022). Implementation of Circular Economy Principles for Sustainable Waste Management in the Industrial Sector. International Journal of Service Science, Management, Engineering, and Technology, 1(3), 41–47.

Mardikaningsih, R., Halizah, S. N., Darmawan, D., Masithoh, N., & Nuraini, R. (2022). Examining the Role of Authentic Leadership in Shaping Positive Work Climate and Organizational Citizenship Behavior. International Journal of Service Science, Management, Engineering, and Technology, 2(1), 52–59.

Mardikaningsih, R., Halizah, S. N., Hariani, M., Darmawan, D., & Nuraini, R. (2025). Performance Feedback Accuracy Decline and Delay in Hybrid Work Arrangements. International Journal of Service Science, Management, Engineering, and Technology, 7(1), 53–62. Retrieved from https://ejournalisse.com/index.php/isse/article/view/236

Mardikaningsih, R., Halizah, S. N., Nuraini, R., & Darmawan, D. (2022). The Role of Ethical Leadership in Shaping a Positive and Sustainable Organizational Culture. International Journal of Service Science, Management, Engineering, and Technology, 2(2), 48–55.

Mardikaningsih, R., Hariani, M., Darmawan, D., Halizah, S. N., & Nuraini, R. (2024). The Impact of Digital Monitoring on Employee Work Autonomy and Professional Responsibility. International Journal of Service Science, Management, Engineering, and Technology, 5(3), 60–67. Retrieved from https://ejournalisse.com/index.php/isse/article/view/231

Mardikaningsih, R., Hariani, M., Issalillah, F., & Nuraini, R. (2024). Organizational Innovation Strategies as Drivers of Business Resilience and Competitiveness in the Global Environment. International Journal of Service Science, Management, Engineering, and Technology, 6(3), 56–65. Retrieved from https://ejournalisse.com/index.php/isse/article/view/233

Mardikaningsih, R., Wardoyo, D. T. W., & Hariani, M. (2024). Digital-Based HR Development Policy as a Driver of Sustainable Collaborative Product and Service Innovation. Journal of Science, Technology and Society (SICO), 5(1), 43–54.

Negara, D. S., Darmawan, D., & Gardi, B. (2021). The approach of consumer reviews to product competitiveness and management strategies. Journal of Social Science Studies, 1(2), 149–154.

Neto, M. F., & Machado, D. D. P. N. (2022). Organizational culture and favorable environment for the development of innovations. Social Networks, 11(2), 15–32. https://doi.org/10.4236/sn.2022.112002

Nugroho, A. W., Darmawan, D., & Arifin, S. (2024). The Authority of Startup Directors and the Legal Responsibility for Corporate Management. Journal of Social Science Studies, 4(1), 313-322.

Nuraini, R., Halizah, S. N., Arum, D. S., Hardiyanti, M. T., & Masrifah, M. (2023). Price and brand image: Drivers of consumer loyalty in the footwear market. Journal of Science, Technology and Society, 4(1), 35–46.

Oladele, B. (2022). Essential components of research methodology. ResearchGate Publication, 1–25. https://doi.org/10.13140/rg.2.2.25271.19360

Oluwatosin, A., & Darmawan, D. (2025). Cultivating Visionary and Financially Literate Generations: Pathway to Socioeconomic Resilience Among Youth. International Journal of Service Science, Management, Engineering, and Technology, 7(2), 24-29.

Putra, A. R., & Darmawan, D. (2022). Competitive Advantage of MSMEs in Terms of Technology Orientation and Entrepreneurship Competence. International Journal of Service Science, Management, Engineering, and Technology, 2(1), 15-20.

Putra, A. R., Arifin, S., & Darmawan , D. (2024). Gamification-Based Learning that Preserves Cooperation and Empathy Among Employees. International Journal of Service Science, Management, Engineering, and Technology, 5(1), 43–50. Retrieved from https://ejournalisse.com/index.php/isse/article/view/229

Putri, A. P. S., & Darmawan, D. (2025). A Literature Study: The Influence of Lifestyle on Fashion Purchasing Decisions. Jurnal Manajemen Bisnis dan Terapan, 3(1), 85-96.

Rahman, A., Darmawan, D., & Saputra, R. (2024). Analysis of cross-border payment regulation and its impact on consumers in Indonesia. Bulletin of Science, Technology and Society, 3(2), 23–28.

Rähse, W. (2017). Ermittlung eines kompetitiven Marktpreises für neue Produkte über die Herstellkosten. Chemie Ingenieur Technik, 89(9), 1142–1158. https://doi.org/10.1002/CITE.201600126

Ryynänen, T., Karvonen, I., Korhonen, H., & Jansson, K. (2017). Supporting product-service development through customer feedback. Dalam Collaboration in a data-rich world (hlm. 138–145). Springer. https://doi.org/10.1007/978-3-319-65151-4_13

Saytari, M. B., Saab, A. E., Haidar, C. G., Barakat, E. T., Idriss, L. I., Nemer, L., Daaboul, M., Sassine, R. J., Nasr, S., & Nemar, S. E. (2024). New product development. Advances in Business Strategy and Competitive Advantage Book Series, 163–188. https://doi.org/10.4018/979-8-3693-5360-8.ch007

Schweitzer, F., & Mai, R. (2021). The double-edged sword of intricate idea enactment in product development. Journal of Business Research, 132, 392–402. https://doi.org/10.1016/J.JBUSRES.2021.04.054

Selvi, A. F. (2019). Qualitative content analysis. Dalam The Routledge handbook of research methods in applied linguistics (hlm. 440–452). Routledge. https://doi.org/10.4324/9780367824471-37

Shabaltina, L. V. (2024). High-tech product life cycle management methods. Vestnik Altajskoj Akademii Èkonomiki i Prava, 2(9), 338–346. https://doi.org/10.17513/vaael.3741

Sinambela, E. A., & Darmawan, D. (2021). Relevance of email marketing in the contemporary digital marketing communication mix. Studi Ilmu Sosial Indonesia, 1(2), 301–324.

Sinambela, E. A., & Halizah, S. N. (2023). Social stratification and lifestyle in consumer society: Status expression through consumption and taste formation. Studi Ilmu Sosial Indonesia, 3(1), 367–392.

Snyder, H. (2019). Literature review as a research methodology: An overview and guidelines. Journal of Business Research, 104, 333–339. https://doi.org/10.1016/J.JBUSRES.2019.07.039

Tripathy, C. R., & Katyayn, A. (2021). Product development process concept Industrial perspective. Dalam Advances in industrial machines and mechanisms (hlm. 331–339). Springer. https://doi.org/10.1007/978-981-33-6428-8_26

Tsang, E. P. K. (2023). A qualitative research approach is an inevitable part of research methodology: An overview. International Journal for Multidisciplinary Research, 5(3), 112–125. https://doi.org/10.36948/ijfmr.2023.v05i03.3178

Ueda, V. Y. (2009). Proposal for service-oriented design processes. Fujitsu Scientific & Technical Journal, 45(2), 171–178.

Yang, Q.-F. (2022). Feasibility analysis. Dalam Project feasibility studies (hlm. 41–55). Routledge. https://doi.org/10.4324/9781003342281-3

Zhao, S., Oduncuoglu, A., Hisarciklilar, O., & Thomson, V. (2014). Quantification of cost and risk during product development. Computers & Industrial Engineering, 76, 183–192. https://doi.org/10.1016/J.CIE.2014.07.023