Product Development Case Study Series Part 2 B
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Product Development Case Study Series Part 2 B

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Part 2B of a multi-part product development case outlined from start to finish.

Part 2B of a multi-part product development case outlined from start to finish.

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Product Development Case Study Series Part 2 B Product Development Case Study Series Part 2 B Presentation Transcript

  • 1 Product development part 2 b of 7 part Case Study
  • Luxury brand Case Study2
  • Notes3
  • Luxury Brand4 Business Development Case Study Part II B
  • vision5
  • vision6 create a business offering an upscale brand of unique hardware
  • vision7 with an emphasis on architecturally styled product design and innovation
  • vision8 for the home market
  • vision9
  • vision10 for luxury home builders and remodelers
  • vision11
  • Positioning statement12
  • Positioning statement13 the (brand) offers the most innovative and fashionable designs
  • Positioning statement14
  • Positioning statement15 creating an emotional experience with consumers
  • Positioning statement16
  • Positioning statement17
  • Overall direction18
  • Overall direction19
  • Overall direction20
  • Overall direction21
  • Overall direction22 design innovative home products
  • Overall direction23
  • Overall direction24 through new keying systems, materials and computer technology
  • Overall direction25 to provide the ultimate in safety and security for family and home offices
  • Overall direction26
  • Overall direction27 through brand building, merchandising, communication, service and events
  • Overall direction28
  • Marketing objective29
  • Marketing objective30 Launch
  • Marketing objective31
  • Marketing objective32 expands the premium and luxury category
  • Marketing objective33 market share target 18%
  • Marketing objective34 gross sales target
  • Marketing objective35 gross margin target
  • Operating income projects36 Growth $94.6 2004 $69.4 2005 2006 62% $48.7 2007 $29.3 2008 $21.5 Total sales
  • Sales objective (upside)37 Growth $94.6 2004 $69.4 2005 2006 $48.7 2007 132% $29.3 2008 $1.7 Total sales
  • Scope38 scope develop a product line, with designs that are unique to the marketplace, introducing the products of project parousia into the high price point market
  • Target markets39 ,
  • Product functions40
  • Architectural collections41 french chateau italian Tuscany craftsmen mediterranean colonial mountain rustic mediterranean english bronze
  • Key to success42 success is dependent on establishing our brand as a serious competitor in showrooms and with architects, designers and consumers
  • Needs analysis43
  • Needs analysis44
  • Needs analysis45 design, craftsmanship and finish are required features of showroom products
  • Needs analysis46 showrooms also require products that are exclusive and are not sold in retail home centers
  • Needs analysis47 the margin requirement is higher for showrooms, due to low volume and higher average overhead
  • Needs analysis48
  • Present situation49 baldwin residential mortise market 42% share
  • Present situation50
  • Present situation51
  • Present situation52 interior matching large size, one escutcheons with both knob and piece handleset lever availability escutcheons with large pulls highly decorative styles with many finish options
  • Current market53 $542 million
  • Current market54
  • Current market55
  • Current market56
  • Initial Design Elements57 mortise products work on 5 mortise case sizes, which include baldwin, accurate, marks and imports. this selection of mortise cases are sufficient and highly technical in production and design
  • Initial Design Elements58 critical requirements enclosed case with armored front grade one performance level Interconnect night latch
  • Initial Design Elements59 the team has researched and visited mortise lock manufacturers, accurate lock is the only supplier to meet all current criteria, and is capable of supplying the necessary volume
  • Product definition60
  • Research Planning61
  • Research Planning62 mortise case supplier research
  • Make vs. buy63 buy mortise case and latches
  • Make vs. buy64
  • Target customers65
  • Primary customer66
  • Primary Target audience67 building a new home or remodeling
  • Primary Target audience68
  • Primary Target audience69 women are considered a major decision-maker for remodel projects, she visits and researches the showrooms
  • Primary Target audience70 educates herself through magazines and internet
  • Primary Target audience71 looks for brand name
  • Primary Target audience72
  • Primary Target audience income73 $150,000 +
  • Primary Target audience74 $500,
  • Primary Target audience75 college educated
  • Primary Target audience76 a f f l u e n t
  • Primary Target audience77
  • Primary Target audience78
  • Primary Target audience79
  • Secondary customer80
  • Secondary Target audience81
  • Secondary Target audience82
  • Secondary Target audience83
  • Secondary Target audience84
  • Secondary Target audience85 $100,000 +
  • Secondary Target audience86 can be smaller square foot (1,600<), but wants prestige brands and latest technology
  • Secondary Target audience87 college
  • Secondary Target audience88 researches, wants the best, know that the value is in what you pay
  • How do we win ?89
  • How do we win ?90 emotional brand connection (believable proposition)
  • How do we win ?91 design board of opinion leaders (experts in specific styles) designers , architects, educators board meets to discuss trends, current product development, new opportunities
  • How do we win ?92
  • How do we win ?93
  • How do we win ?94 expertise in the category
  • How do we win ?95 architectural specifications & recommendations
  • How do we win ?96 distribution & showroom penetration
  • How do we win ?97
  • 5 Point program98
  • Core values99 Archetypes Core Values architecturally inspired hardware & fixtures
  • Product style lifecycle100 development introduction growth maturity saturation degeneration elimination mediterranean colonial mountain rustic english french tuscany craftsman
  • Remodel style market101 high high low mid low low high mid high mid high low
  • Product road overview102 development tuscan english mountain victorian rustic craftsman farmhouse french chateau 2002 2003 2004 2005 2006 2007 2008 2009 2010 contemporary colonial project execution french country mediteranean electronics
  • Product roadmap103 French chateau collection
  • Product roadmap104 Tuscany/Italian villa Collection
  • Product roadmap105 Craftsmen Collection
  • Recommended sku count106 Sku recommendation
  • Next steps107 phase 1
  • Next steps108 phase 2
  • Next steps109 phase 3
  • Transition110 move from the business plan to phase I to begin developing product design and brand identity
  • Luxury Brand111 Business Development Case Study Part II B