New Product Development01-07

Click here to load reader

  • date post

    22-Oct-2014
  • Category

    Documents

  • view

    214
  • download

    0

Embed Size (px)

Transcript of New Product Development01-07

Human Resources UniversityNew Product DevelopmentYear4, Semester 2Lectured by: Mr. Eng Leaphea,MBA Tel: 012 722076 Email: [email protected] Skype ID: rikreaymagazine3/27/2012 1

Self-IntroductionCourse: New Product Development Lecturer: Mr.Eng Leaphea, MBA Tel: 012 722076 Email: [email protected] rikreaymagazine (skype) Facebook.com/eng.leaphea

Instructors ProfileName: Date of Birth: Sex: Nationality: Contact: Email: Eng Leaphea (Mr.) February 05, 1979 Male Cambodian H/P: 012 722076 [email protected]

Educational Background

Working Experiences02-04-2010 to 02-12-2010 10-12-2010 to Present

Working Experiences 2005 Present Lecturer Human Resources University Course: Basic Marketing; Marketing Management; Public Relation; Strategic Marketing; New Product Development. Human Resource Management

3/27/2012

5

Course Learning Objectives: Students will learn as follows: Chapter01: New Product in Global Marketing Chapter02: New Product Development Process Chatper03: Overview in New Product Development Chapter04: Design Chapter05: Special Issues in Development Chapter06: Product Use Testing Chapter07: Strategic Launch Planning3/27/2012 6

Grading Your course grade will be determined as follows: 20% on your attendance; 15% on

the quality of your individual assignment solutions 15% on the midterm test; and 50% on the final exam.

3/27/2012

7

Course OutlineWeek 1 Description Course Introduction Chapter01: New Product in Global Marketing New Products Why New Product Succeed? Risks of New Product Development NEW PRODUCT LAUNCHES Chapter01: New Product in Global Marketing CHALLENGES IN NEW PODUCT DEVELOPMENT Why do new products fail? Several factors tend to hinder new-product development IDENTIFYING NEW PRODUCT IDEAS The following questions are relevant to this task: Hours 3 hours

2

3 hours

3/27/2012

8

Course OutlineWeek 3 Description Chapter02: New Product Development Process ORGANIZATIONAL ARRANGEMENT Organizing new-product development MANAGING THE DEVELOPMENT PROCESS: IDEAS Ten Ways to Create New-Product Ideas Idea Screening screening ideas, the company must avoid two types of errors MANAGING THE DEVELOPMENT PROCESS Concept Development and Testing Chapter02: New Product Development Process Concept Testing Marketing Strategy Business Analysis Hours 3 hours

4

3 hours

3/27/2012

9

Course OutlineWeek 5 Description Chapter03: Overview in New Product Development Creating New Products CORPORATE RESPONSE MARKETING RESPONSE VARIABLES AFFECTING NEW PRODUCT DEVELOP Change and Complexity Invisibility Expense Control Hours 3 hours

Need for Speed Can Do PATHS TO SUCCESS3/27/2012 10

Course OutlineWeek 6 Description Hours 3 hours

Chapter04:Design

What is Design? The Role of Design in the New Products Process Contributions of Design to the New Products Process Product Architecture3 hours

7

Chapter04:Design ( continue) Managing the Interfaces in the Design Process Participants in the Design Process Improving the Interfaces in the Design Process Computer-Aided Design and Design for Manufacturability

3/27/2012

11

Course OutlineWeek 8 Description Hours 3 hours

Chapter05: Special Issues in Development Speed to Market 1- Techniques for Speeding Time to Market 2- Overall Principles and Guidelines The Role of Top Management during Development

9

Chapter05: Special Issues in Development Functional Interface Management 1- Managing the Interfaces 2- Overall Principles and Guidelines Strategies for Global Product Innovation

3 hours

3/27/2012

12

Course OutlineWeek 10 Description Hours 3 hours

Chapter06: Product Use Testing What Is Product Use Testing Is Product Use Testing Really Necessary? 1- Regarding Competitors Reactions 2- Customer Needs Are Complex Sets 3- Can We Deliver A Total Quality Product?

3/27/2012

13

Course OutlineWeek 11 Description Hours 3 hours

Chapter06: Product Use Testing Knowledge Gained from Product Use Testing Beta tests Gamma Testing Diagnostic Information Decisions in Product Use Testing How Should We Reach the User Group?

3/27/2012

14

Course OutlineWeek 12 Description Hours 3 hours

Chapter06: Product Use Testing How Much Explanation Should We Provide? How Much Control over Product Use Should There Be? Special Problem Be Alert to Strange Conditions Strategies for Global Product Innovation

3/27/2012

15

Course OutlineWeek 13 Description Hours 3 hours

Chapter07: Strategic Launch PlanningI. Setting The Strategic Givens Revisiting the Strategic Goals

14

Chapter07: Strategic Launch PlanningStrategic Platform Decisions The Target Market Decision

3/27/2012

16

Course OutlineWeek 15 Description Hours 3 hours

Chapter07: Strategic Launch PlanningVI. Product Positioning VII. Creating Unique Value for the Chosen Target VIII. Branding and Brand Management IX. Packaging

Number of weeks Total hours Credits

15 weeks 45 hours 3

3/27/2012

17

Chapter3/27/2012

118

New Product in Global Marketing

-----------------------------What Is a New Product ? New products can be new to the marketplace or new to a company.

NEW PRODUCTS

A new product for a company may or may not be a part of an existing product line. A product line is a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are distributed through the same dealers, or all within certain price ranges.3/27/2012 19

By: Eng Leaphea,

New products can be classified as: New-to-the-world products: New product lines: Additional to existing product lines: Improvements in or revision to existing products: Repositioning: Lower cost products:3/27/2012 20

By: Eng Leaphea,

These are:

Why New Product Succeed?

Introducing a unique but superior product. Having market knowledge and marketing proficiency. Having technical and production synergy and proficiency. Being in a large, high-need growth market. Avoiding introducing a high-priced product with no economic advantage.3/27/2012 21

By: Eng Leaphea,

Why New Product Succeed? Avoiding a competitive market with satisfied customers. Avoiding products new to the firm. Having a strong marketing communications and launch effort. Having a market-derived idea with considerable investment involved.

3/27/2012

22

By: Eng Leaphea,

Risks of New Product Development

This is due to a variety of factors:

Costs will continue to rise. Competition will intensify, particularly from foreign producers. The life of products is likely to become shorter as competitors duplicate existing products more quickly. The need for a more rapid pace in new product development may not be met by the development of new technologies. Markets will continue to be fragmented, requiring companies to aim new products as smaller target segments. Investment risks are likely to increase because of high interest rare.3/27/2012 23

By: Eng Leaphea,

NEW PRODUCT LAUNCHES --------------------- Evidence of Market Interest Accurate Market Evaluation Good Judgment in Development Reasons for Success Position, Promotion, and Pricing

3/27/2012

24

By: Eng Leaphea,

CHALLENGES IN NEW PODUCT DEVELOPMENT Companies that fail to develop new products are putting themselves at great risk. Their existing products are vulnerable to changing customer needs and tastes, new technologies, New technologies are especially threatening. Most established companies focus on incremental innovation, disruptive technologies . New products continued to fail at a disturbing rate. Recent studies put the failure rate of new consumer products at 95 percent in the United States and 90 percent in Europe.3/27/2012 25

----------------------

By: Eng Leaphea,

Why do new products fail? A high-level executive pushes a favorite idea through in spite of negative market research findings. The idea is good, but the market size is overestimated The product is not well designed. The product is incorrectly positioned in the market, not advertised effectively, or overpriced. The product fails to gain sufficient distribution coverage or support. Development costs are higher than expected. Competitors fight back harder than expected.3/27/2012 26

By: Eng Leaphea, MBA

Several factors tend to hinder new-product development

Shortage of important ideas in certain areas

Fragmented markets Social and governmental constraints Cost of development

Capital shortages Faster required development time3/27/2012 27

By: Eng Leaphea, MBA

IDENTIFYING NEW PRODUCT IDEAS -------------Major sources of new-product ideas include internal sources, customers, competitors, distributors and suppliers, and others It can pick the brains of its executives, scientists, engineers, manufacturing, and salespeople. Some companies have developed successful entrepreneurial programs that encourage employees to think up and develop new-product ideas.3/27/2012 28

By: Eng Leaphea, MBA

Good new-product ideas also come from watching and listening to customers. The company can analyze customer questions and complaints to find new products that better solve consumer problem. Competitors are another good source of newproduct ideas. Finally, distributors and suppliers contribute many good new-product ideas Other idea sources include trade magazines, shows, and seminar