New Products by Page Moreau

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New Products January 20, 2010

Risky
To avoid failure, everything has to be right:
Concept
Design
Pricing
Positioning
Packaging
Advertising and Promotion

Drivers of Success in NPD Success Drivers Correlation with Profits Timeliness A unique, superior, differentiated product .53 n/s A strong market orientation w/voice of customer .44 .41 Early fact-based product definition prior to development .39 .24 Effective implementation of front-end activities .37 .41 Use of true cross-functional teams .33 .48 Leverage – project builds on firm’s core competencies .32 n/s Market attractiveness – size, growth, margins .31 .22 Quality of launch effort – planning and resources .29 .20 Tech. competencies and execution of technical activities .26 .32

The NPD Process Phase 1: Opportunity Identification and Selection Phase 2: Concept Generation/ Ideation Phase 3: Concept Evaluation & Screening Phase 4: Development Phase 5: Testing & Launch “ Fuzzy” Front End

NPD in Perspective
Diffusion of Innovations
Rogers (1962, 1983, 1995)

NPD in Perspective
Diffusion of Innovations
Rogers (1962, 1983, 1995):
Product Factors Influencing Diffusion Speed:
Relative Advantage (+)
Compatibility (+)
Complexity (-)
Trialability (+)
Observability (+)
Risk (Ostlund) (-)

NPD in Perspective
Are all new products the same?
Continuity Continuum (Robertson ‘71)
Commonly accepted categories:
New-to-the-World
New Category Entries (New Lines for Co.)
Additions to Product Lines
Product Improvements
Cost Reductions
Repositionings

New Products by Page Moreau

by Julie Penner on Jan 28, 2010

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