new product commercialization
DESCRIPTION
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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)
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
eakt
hrou
gh
Incr
emen
tal
Incremental
Supplier's Perception
Cust
omer
's P
erce
ptio
n
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