Ways in managing the new development process

Managing development Process : Ideas

How to generate great ideas?

Interacting with others

Interacting with employees

Adopting Creativity Techniques

Using Idea screening

Overall probability of success =

P(Technical completion) * P(Commercialization | Technical Completion) * P(Economic success | Commercialization)

Managing Process : Concept to Strategy

• Concept Development and Testing

• Marketing Strategy Development

• Business Analysis

Concept Development and Testing

• Concept Development

• Concept Testing

• Conjoint Analysis

Marketing Strategy Development

• Target market, market’s size and structure

• Planned price, Distribution strategy

• Long-term sales , Profit goals etc.

Business Analysis

• Estimating Total sales

• Estimating costs and profits

Managing Process : Development to Commercialization

• Product Development

• Market Testing

Product Development

• Physical Prototypes

• Customer tests. Alpha testing, Beta testing etc.

Market Testing

• Consumer goods testing

• Sales-wave research

• Simulated test marketing

• Business goods marketing

References

• Marketing Management, Kotler Keller• www.digitalsynergy.com• www.creativitypost.com• www.thinkmulti.com• aracelyvazquez.blogspot.com• www.bluedogconsulting.co.uk• marketresearch.verticaleleven.in• startupcentral.ae

Disclaimer

Created by S Varadharajan, IIT Madras, during an internship by Prof. Sameer Mathur, IIM Lucknow.

www.IIMInternship.com