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