marketing new product development_23
TRANSCRIPT
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NPD is a process which is design to develop,
test and consider the viability of products
which are new to the market in order toensure the growth or survival of the
organization.
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To replace declining products.
T
o take advantages of new products. To maintain/increase market share.
To defeat rivals.
To keep up with rivals.
To maintain competitive advantage. To fill a gap in the market.
To bring a new customers.
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Major innovations.
New product lines. Product line extension.
Product improvements.
Repositioning.
Cost reductions.
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R & D department Production department Sales team Employees Customers Competitors External sources Market research
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Screening of products to spot good ideas anddrop poor ones as soon as possible
Ideas are check for technical feasibility,financial viability and marketability The business analysis the product to evaluate
its demand, marketability and profit potential
Given ideas rating according to marketing,production and strategic factors
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1. Develop Product Ideas intoAlternative
Product Concepts
2. Concept Testing - Test theProduct Concepts with Groups
of Target Customers
3. Choose the Best One
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Part Two - Short-Term:
Products Planned PriceDistribution
Marketing Budget
Part Three - Long-Term:
Sales & Profit GoalsMarketing Mix Strategy
Part One - Overall:
Target MarketPlanned Product Positioning
Sales & Profit Goals
Market Share
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Business Analysis
Review of Product Sales, Costs,
and Profits Projections to See if
They Meet Company Objectives
If Yes, Move to
Product Development
If No, Eliminate
Product Concept
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StandardTest Market
Full marketing campaignin a small number ofrepresentative cities.
StandardTest Market
Full marketing campaignin a small number ofrepresentative cities.
Simulated
Test MarketTest in a simulated
shopping environmentto a sample of
consumers.
Simulated
Test MarketTest in a simulated
shopping environmentto a sample of
consumers.
ControlledTest Market
A few stores that haveagreed to carry newproducts for a fee.
ControlledTest Market
A few stores that haveagreed to carry newproducts for a fee.
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Introducing a new product into the market.
Timing is critical for success.
There will be heavy promotional expenditureat the launch.
Choice of skim or penetration rising.
The product has to be well targeted and
positioned.
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Develop innovative products.
Bring new ideas to market ahead.
Integrate regulatory compliance into productlifecycle processes to reduce business risk
and sell products in global markets.
Effectively manage the global manufacturing
supply chain to ensure on-time, on-cost andquality product delivery.
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Neglect of market research
Inaccurate market research Poor marketing after launch Poor distribution Product performance below expectation M
arket not ready for the products Inadequate support for the market
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Daewoowas a major South Korean
conglomerate. It was founded inMarch22, 1967 as Daewoo Industrial and was
dismantled by the Korean government
in 1999.
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The Daewoo Matiz is a city car produced by
the South Korean automaker G M Daewoo
marketed worldwide since 1998. It has won the Best City car in the 1998
World's Most Beautiful Automobilecompetition.
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The main problem was theMatiz' positioning.
It was not much powerful for highways.
When the car was launched it was overpriced. Suddenly brought down in prices created
very bad impression on public.
It was most difficult to repair.
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Nestl India is a subsidiary of Nestle S. A. of
Switzerland, Beginning with its firstinvestment inMoga in 1961.
The Company insists on honesty, integrity
and fairness in all aspects of its business and
expects the same in its relationships.
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Julius Maggi founded the company
Maggi. Maggi is a Nestl brand of instant soups,
stocks, bouillons, ketchups, sauces,
seasonings and instant noodles.
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Maggi Noodles.
Maggi Vegetable Noodles.
Dal Atta Noodles. Maggi Rice NoodlesMania.
Maggi Sauces.
Maggi Healthy Soups.
MAGGIMAGIC Cubes.
Maggi Pichkoo.
Maggi CuppaMania.
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Initially Nestle tried to position the Noodles
in the platform of convenience targeting the
working women. Research.
'Fast to Cook Good to Eat
Distribution of free samples.
Gifts on return of empty packets
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NPD is a process which is design to
develop, test and consider the viability
of products which are new to the marketin order to ensure the growth or survival
of the organization.