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    Developing New Products Developing New Products Presentation Transcript

    • Developing New Products A PRACTITIONER REPORT
    • Idea Generation
      • Market and consumer trends
      • Ethnographic methods: Searching for user patterns and habits
      • Find the market before developing the product
      • Predictions and game changers
      • Everything was first an idea
    • Idea Evaluation / Screening
      • Market Need?
      • Market Size?
      • Market Saturation?
      • Develop an Investor Mindset
    • What is the product?
      • Basic functions
      • Design & Packaging
      • Customer Service
      • Experience
      • Usability
      • Image
      • Community
    • Classifications (Aspinwall)
      • How much profit is obtained from each product?
      • How flexible are the buyers' purchasing habits with regard to this product?
      • How long will the product produce benefits for the user?
      • How frequently is the product repurchased?
      • How long will consumers shop for the product?
      Leo Aspinwall, 1958
    • NAICS North American Industry Classification System largely replaced the older Standard Industrial Classification (SIC)
    • Classifications II
      • food
      • cleaning products
      • personal care product
      • clothing products
      • personal services
      • electronic products
      • household furnishings
      • luxury automobiles
      • jewelry
      • expensive wine
    • Concept Development
      • Product Benefits
      • Target Market
      • Production/Development Cost
      • Production/Development Location(s)
      • Model Successful Concepts!
    • Business Model / Business Analysis
      • Customer Acquisition Cost
      • Selling Price
      • Breakeven Point
      • Market Size
      • Competition
      If nobody else is doing that there may be a reason for it!
    • SWOT / PESTEL Analysis
      • S trengths
      • W eaknesses
      • O pportunities
      • T hreats
      • P olitical
      • E conomic
      • S ocial
      • T echnological
      • E nvironmental
      • L egal
    • Securing Capital
      • Self-funded and/or ‘Boot-Strapped’
      • Credit Cards
      • Bank or Government Loans
      • FF&F
      • Angel Investment
      • Venture Capital
      • Know where you want to go!
    • Six Sigma Analysis: DMAIC 1. D efine the problem and the project goals. 2. M easure key aspects of the current process and collect relevant data. 3. A nalyze the data to investigate and verify cause-and-effect relationships. 4. I mprove or optimize. 5. Set future c ontrols.
    • Six Sigma Analysis: DMADV
      • D efine goals consistent with customer demands.
      • M easure and identify product capabilities, production process capability, and risks.
      • A nalyze / Develop Alternatives.
      • D esign Details Optimization.
      • V erify the design (i.e. set up pilots).
    • Beta and Market Testing
      • Beta Relase(s)
      • Focus Groups
      • LISTEN TO FEEDBACK!
      • Most flexible approach will win (Law of Requisite Variety)
    • Implementation Preparation
      • Product Development Roadmap
      • Resource identification
      • Scalability
      • Contingency Planning
    • Marketing Mix*
        • Name
        • Package
        • Price
        • Promotion
        • Distribution
      *Neil Borden, 1953
    • Marketing Mix 2011
        • SEM : PPC + SEO
        • Social Media
        • Email
        • Mobile / in-app
        • Affiliate Programs
      *Neil Borden, 1953
    • Pre Launch Considerations
      • Marketing Strategy
      • Pricing
      • Product Mix
      • Segmentation and Options
      • BASE | PROFESSIONAL | SUPER!
    • Launch
      • Inventory
      • Scalability
      • Training
      • Support
      • MVP – Minimum Viable Product
    • Commercialization
      • Timing
      • Placement
      • Channel Development
      • Distribution/Partnerships
        • Channels/Resellers and OEMs
        • Systems
    • Why New Products Fail
      • No clearly defined target market .
      • Insignificant point of difference.
      • Too little market attractiveness.
      • Poor product quality or sensitivity to customer needs on critical factors.
      • Timing.
    • Resources Contact Christian Karl Kameir [email_address] Download http://kameir.com/services.pdf