The process of product innovation involves the introduction of a good or service that is new or substantially improved. This includes, but is not limited to, improvements in functional characteristics, technical abilities, or ease of use. Continued existence is the mantra in current competitive business scenario and survival without innovation is almost impossible. So every one, be it from manufacturing organization or service organization, is heavily dependent on innovation, be it product or process innovation, which has resulted in the continuous, substantial addition of knowledge with respect to innovation. The book on product innovation can be classified in the following categories: philosophy and basic innovation, process innovation practice, managing product innovation, innovation as a business strategy, technological innovation in banks and financial systems, and innovations in marketing. Innovation, being a continuous process, needs to be continuously monitored and updated from time to time; Hence, there is a need for a book of this kind, which should concentrate on the current scenario in innovation, innovation for non-financial product, role of product manager in managing product innovation, hyper innovation and its applications. The book presents a collection of articles and cases about product innovation in various sectors like IT, Indian Railways, consumer industry and companies such as Gillette, Procter and Gamble, and Recakitt Benckiser.
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