managing new product development
TRANSCRIPT
Managing
New Product Development
By – Mausumi Mohanta
Requires Management
Product Development
Starting With :
Ideas !!
Generating Ideas
With An Unbiased View And Outside-in Perspective
Of Demand Opportunities
Create A Platform
For
• Interaction With Employees
• Interaction With Customers
• Studying Competitors
• Adopting Creativity
Techniques
Managing the Idea Screening Process
Overall Probability Of Product Success
Probability Of
Technical
Completion *
Probability Of
Commercialization
Given Technical
Completion
* Probability Of
Economic
Success Given Commercialization
Managing Development
Of
Concept To Strategy
Consumers Buy product Concepts
Not Ideas
All Aspects of Product like
Brand-positioning, Product-positioning
Is Done By Concept Testing.
Conjoint Analysis -
A Popular Concept
And Development
Testing Tool.
What Is Conjoint Analysis ?
Deriving Utility Values That
Consumers Attach To varying Levels
Of Product Attributes.
ADA - Adaptive Conjoint Analysis
• Developing Market Strategy
• Doing Business Analysis
• Estimating the Total Sales
• Estimating the Costs, and Profits
Managing the Development
Process: Development to
Commercialization
The Product Prototype is now
Introduced to the Customer
• Alpha testing
• Beta testing
Managing Market Testing
• Consumer-Goods Market Testing
- Estimate trial, first repeat,
adoption and Purchase frequency
Methods For Consumer-Goods
Market Testing
• Sales-Wave Research
• Simulated Test Marketing
• Controlled Test Marketing
• Test Markets
Managing Market Testing
• Business-Goods Market Testing
- Exposes unanticipated problems
of safety and servicing
Commercialization
The Process or/cycle of Introducing
A new Product or Service to the Market.
New product
Campaign Based on :
• When (Timing)
• Where(Geographic Strategy)
• To Whom (Target Market)
• How (Introductory Market
Strategy)
Company Needs To Manage
All Stages Of
New Product Development :
Conceptualization
to
Product Launch