What is the best way to manage the new-product development process ?
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Transcript of What is the best way to manage the new-product development process ?
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SUSTAINING GROWTH AND VALUE
What is the best way to mangenew development processes ?
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Concept Development
and Testing
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Projectideas
“Naah !.Have seen many like these”
ProjectConcepts
“LooksFresh”Customers
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Prototypes:Rapid prototyping
Virtual reality
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Communicabi l i ty and bel ievabi l i tyNeed levelGap levelPerceived va luePurchase Intent ionUser targets , purchase occas ions andpurchasing f requency
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The importance of each attribute level can be calculated from the data.The farther attribute levels are from each other within the same category,the more important the difference to the respondents.
BrandName
Packaging
Retailprice
MoneyBack ?
Brandscore
Productlife
Warranty?
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Marketing Strategy
Development
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Target market’s size, structure and behavior ;The planned product positioning and the sales, market share, and profit goals sought in the first few years
The planned price, distribution strategy, andMarketing budget for the first year
Long-run sales and profit goals andMarketing mix stratgegy over time
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Business Analysis
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One-time purchased product
Infrequently purchased productFrequently purchased product
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Product Development
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AlphaTesting
BetaTesting
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Market testing
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Sales- Wave ResearchSimulated Test MarketingControlled Test MarketingTest Markets
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Commercialization
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First Entry
Parallel Entry
Late Entry
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Market potential
Company’s local reputationThe cost of filling the pipelineThe cost of communication mediaThe influence of the area on other areas and
Competitive penetration
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Should be Early adoptersHeavy users and Opinion leaders it can reach at low cost
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Allocate sufficient time and resourcesCritical path scheduling
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Image Credits:(Flickr users)
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