product designing strategy
TRANSCRIPT
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PRODUCT DESIGNING STRATEGY
PRESENTED BY-
MEGHA JAIN
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INTRODUCTION PRODUCT STRATEGY PRODUCT DESIGNING PROCESS STAGES OF PRODUCT LIFE CYCLE DIMENSIONS OF PRODUCT DESIGN STRATEGY CAUSES OF NEW PRODUCT FAILURE PRODUCT DEVELOPMENT SYSTEM
CONTENTS
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Definition: The product-design strategy deals with the degree of
standardization of a product. The company has a choice among the following strategic options: standard product, customized product, and standard product with modifications.
Objectives: Standard product: to increase economies of scale of the company. Customized product: to compete against mass producers of
standardized products through product-design flexibility. Standard product with modifications: to combine the benefits of
the two previous strategies.
Product Design Strategy
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Requirements:
Close analysis of product/market perspectives and environmental changes, especially technological changes.
Expected Results: Increase in growth, market share, and profits. In addition, the third strategy allows the company to keep close contacts with the
market and gain experience in developing new standard products.
Product Design Strategy
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Idea
Development
Product Screening
Preliminary Design and
Testing
Final Design
Product Designing Process
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Step 1 - Idea Development - Someone thinks of a need
and a product/service design to satisfy it: customers, marketing, engineering, competitors, benchmarking, reverse engineering
Step 2 - Product Screening - Every business needs a formal/structured evaluation process: fit with facility and labor skills, size of market, contribution margin, break-even analysis, return on sales
Step 3 – Preliminary Design and Testing - Technical specifications are developed, prototypes built, testing starts
Step 4 – Final Design - Final design based on test results, facility, equipment, material, & labor skills defined, suppliers identified
The Product Design Process
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Stages of the Product Life Cycle
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Product-Positioning.
Product-Repositioning.
Product-Overlap.
Product Scope.
Product-Design.
Dimensions of Product Strategies
• Product Elimination.
• New Product.
• Diversification.
• Value-Marketing.
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1. Techniques
2. Single vs. Multiple Brand Strategy
Product Positioning Strategy
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1. Reposition among existing customers
2. Reposition among new users
3. Reposition for new uses
Product-Repositioning Strategy
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1. Competing brands
2. Private Labeling
3. OEM strategy
Product-Overlap Strategy
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Society Environment Economy
Product- Scope
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1. Standard products
2. Customized products
3. Standard product with modifications
Product-Design Strategy
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1. Harvesting
2. Line-Simplification
3. Total-Line Divestment
Product-Elimination Strategy
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1. Product Improvement/Modification
2. Product Imitation
3. Product InnovationDevelopment Process:Idea GenerationIdea ScreeningProject PlanningProduct DevelopmentTest MarketingCommercialization
New-Product Strategy
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1. Concentric Diversification
2. Horizontal Diversification
3. Conglomerate Diversification
Diversification Strategy
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1. Quality Strategy
2. Customer Service Strategy
Value Marketing Strategy
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Poor up-front intelligence
Failure to stick close to what the company does best
Lack of competitive advantage
Failure to satisfy a need or want
Some Causes of New Product Failure
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© 2011 Pearson Education, Inc. publishing as Prentice Hall
Product Development System
Scope of product
development team
Scope for design
and engineerin
g teams
Evaluation
IntroductionTest Market
Functional Specifications
Design ReviewProduct Specifications
Customer RequirementsAbility
Ideas
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THANK YOU