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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)
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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”
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New Product Types….
BreakthroughBr
eakt
hrou
gh
Incr
emen
tal
Incremental
Supplier's Perception
Cust
omer
's P
erce
ptio
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X
XBreakthrough
Incremental
Delusion
Shadow
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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
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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
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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
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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
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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
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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
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Trial Sell
Installation of SPECIALS,
to educate the customer
Collecting the feedback, & ensure
a good product impression
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Costing & Pricing
Premium Pricing
Disposable Vs. Reusable
Pricing problem on 102 – foot-
module
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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
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Key Success Factors in Viresolve
Able to identify, VIRESOLVE :- breakthrough or
incremental
Organizational structure
Experience effect of the customer
Appropriate launch strategy
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Issues & Recommendation
Penetration in to US market
Pricing of 102-foot-module & pushing into
manufacturing facilities
Short Technology Life-Cycle
Strong substitute
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