new product commercialization

New ProductDevelopment &CommercializationStrategyofVIRESOLVE

GROUP-05*Amiya Kumar(10EX-003) *Ankur Girdhar (10EX-004)*Dilip Kumar Mallick (10EX-013) * Pradipta Paul (10EX-033)

* Satyabrata Dash (10EX-045)

Market Development Diversification

Market Penetration Product Development

NewMarket

Existing Market

Existing Product New Product

Market strategy Given Newness of Markets & Product

*Ansoff H. Igor (1957) , “Market Strategy Given Newness of Market & Products”

New Product Types….

BreakthroughBr

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Incr

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Incremental

Supplier's Perception

Cust

omer

's P

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X

XBreakthrough

Incremental

Delusion

Shadow

Nature of Marketing Task….

Technology Voice

Customer Voice

Breakthrough IncrementalMarketing Task

•Vision The Market

•Building & Creating demand for the Product

•Listening to the Market

•Effectively & Efficiently addressing the existing demand

Key Steps in Viresolve Development

Idea Generation

Preliminary Market Assessment

Preliminary Technical Assessment

Detailed Market Study

Product Development & Testing

Trial Sell

Commercialization & Launch

Costing & Pricing

Idea Generation

It’s a core R&D’s initiative

Tangential flow membrane technology

(an R&D O/P)

To identify promising applications for

technology

Preliminary Market Assessment

Marketing manager generated a short list of

potential applications

Narrowed the list to three applications after

prelim experiments

Zeroed in Virus Removal

Preliminary Technical Assessment

Inactivation of Viruses Vs. Virus Removal

Detailed Market Study

Bio-pharmaceutical market identified as the

key market

Market Segmentation on size of proteins

instead of geographical and sectors

Product Development & Testing

As per the market segmentation, two new

products were developed Viresolve/70 &

Viresolve/180

Product validation done is two ways

1. Published proof validation

2. Correlating Integrity Test

Trial Sell

Installation of SPECIALS,

to educate the customer

Collecting the feedback, & ensure

a good product impression

Costing & Pricing

Premium Pricing

Disposable Vs. Reusable

Pricing problem on 102 – foot-

module

Commercialization & Launch

Building & Creating demand for the Product

Preparing the sales Forces

Target biopharmaceutical to be the first

customer

Bundled with Correlating Integrity Test &

training program

Key Success Factors in Viresolve

Able to identify, VIRESOLVE :- breakthrough or

incremental

Organizational structure

Experience effect of the customer

Appropriate launch strategy

Issues & Recommendation

Penetration in to US market

Pricing of 102-foot-module & pushing into

manufacturing facilities

Short Technology Life-Cycle

Strong substitute

THANKS