Movoto product design - case study i - PMCamp1


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Movoto product design - case study i - PMCamp1

  1. 1. . From idea to product Sting Chen ( 陈世欣 ) Case Study – Movoto.COM MY1930. COM CTO Twitter : @stingchen Blog : BOPOR.COM
  2. 6. Agenda <ul><li>Key Steps in Product Development </li></ul><ul><li>Three key factors for effective product development </li></ul><ul><li>Discuss </li></ul>
  3. 7. Key Steps in Product Development <ul><li>Idea generation </li></ul><ul><li>Product screening </li></ul><ul><li>Concept testing </li></ul><ul><li>Business & Finance Analysis </li></ul><ul><li>Product Development </li></ul><ul><li>Test Marketing </li></ul><ul><li>Commercialization </li></ul>
  4. 8. Step 1 Idea generation <ul><li>A continuous, systematic search for new product opportunities. </li></ul><ul><li>It involves delineating sources of new ideas and methods for generating them. </li></ul>
  5. 9. Identifying & Assessing Opportunities <ul><li>Get ideas from: </li></ul><ul><ul><li>Customers </li></ul></ul><ul><ul><li>Your competitor’s customers </li></ul></ul><ul><ul><li>Industry analysts </li></ul></ul><ul><ul><li>Your company’s executives </li></ul></ul><ul><ul><li>The sales and marketing staff </li></ul></ul><ul><ul><li>The product development team </li></ul></ul><ul><ul><li>Your company’s customer service representatives </li></ul></ul><ul><ul><li>Your operations staff </li></ul></ul><ul><ul><li>Your own experiences and knowledge of the market and technology </li></ul></ul>
  6. 10. Methods for generating ideas <ul><li>Dimensional Analysis </li></ul><ul><ul><li>List all of the physical characteristics of a product type. </li></ul></ul><ul><ul><li>Ask questions: </li></ul></ul><ul><ul><ul><li>Why is the product this way? </li></ul></ul></ul><ul><ul><ul><li>How could the product be changed? </li></ul></ul></ul><ul><ul><ul><li>What would happen if one or more characteristics were removed? </li></ul></ul></ul>
  7. 11. Problem Analysis <ul><li>A need-assessment technique designed to develop an inventory of consumer problems in a particular product or service category and to serve as a basis for new product or service ideas. </li></ul>
  8. 12. Benefit Structure Analysis <ul><li>Determines what specific benefits and characteristics are desired by consumers within a particular product or service category and identifies perceived deficiencies in what is currently provided. </li></ul>
  9. 13. Scenario Analysis <ul><li>Identifies opportunities by capitalizing on projected future environments and associated consumer needs. </li></ul>
  10. 14. Step 2 Product Screening <ul><li>After the firm identifies potential products, it must screen them. In product screening, poor, unsuitable, or otherwise unattractive ideas are weeded out from further actions. </li></ul><ul><ul><li>Screening checklist for preliminary evaluation </li></ul></ul><ul><ul><li>List the new product attributes considered most important and compare each idea with those attributes. </li></ul></ul><ul><ul><li>The checklist is standardized and allows ideas to be compared. </li></ul></ul>
  11. 15. Movoto’s functions Screen rule <ul><li>Create a Functions List </li></ul><ul><li>Everyone give his comments from three dimensions. (Score 1-5) </li></ul><ul><ul><li>Value </li></ul></ul><ul><ul><li>Cost </li></ul></ul><ul><ul><li>Time </li></ul></ul><ul><li>Give weight coefficient to the scores </li></ul><ul><li>Get the high score functions to be high priority. </li></ul>
  12. 16. Right Product/Right Time <ul><li>The good product manager is responsible for defining the right product at the right time. </li></ul><ul><li>The product needs to have the right features for the right market </li></ul><ul><li>The product must be able to be executed with the technology available in the required market window. </li></ul>
  13. 17. Step 3 Concept Testing <ul><li>Concept testing presents the consumer with a proposed product and measures attitudes and intentions at this early stage of development. </li></ul><ul><ul><li>A quick and inexpensive way of measuring consumer enthusiasm. </li></ul></ul><ul><ul><li>It asks potential consumers to react to a picture, written statement, or oral description of a product. </li></ul></ul><ul><ul><li>This enables a firm to determine initial attitudes prior to expensive, time-consuming prototype development. </li></ul></ul>
  14. 18. Customers investigation <ul><li>People </li></ul><ul><ul><li>Friends </li></ul></ul><ul><ul><li>Real Users </li></ul></ul><ul><li>Methods </li></ul><ul><ul><li>Watching </li></ul></ul><ul><ul><li>Asking </li></ul></ul><ul><ul><li>Email forms </li></ul></ul>
  15. 19. Partner Preview <ul><li>Realtors </li></ul><ul><li>Consultants </li></ul><ul><li>Other Business People </li></ul>
  16. 20. Step 4 Business & Financial Analysis <ul><li>Business and financial analysis for the remaining product concepts is much more detailed than product screening. </li></ul><ul><li>Factors considered in business analysis” </li></ul><ul><ul><li>Demand projections </li></ul></ul><ul><ul><li>Cost projections </li></ul></ul><ul><ul><li>Competition </li></ul></ul><ul><ul><li>Required investment </li></ul></ul><ul><ul><li>Profitability </li></ul></ul>
  17. 21. Step 5 Product Development <ul><li>Product development converts a product idea into a physical form and identifies a basic marketing strategy. </li></ul><ul><ul><li>Product construction </li></ul></ul><ul><ul><li>Packaging </li></ul></ul><ul><ul><li>Branding </li></ul></ul><ul><ul><li>Product positioning </li></ul></ul><ul><ul><li>Usage testing </li></ul></ul>
  18. 22. Development Process <ul><li>Product Design </li></ul><ul><li>Data Model Design </li></ul><ul><li>Modules and Important functions </li></ul><ul><li>UI Design </li></ul><ul><li>Interactive process (Web, Email) </li></ul><ul><li>Data downloading and Integrating </li></ul><ul><li>Images Downloading </li></ul><ul><li>Stage, Candidate Version </li></ul>
  19. 23. Test Marketing <ul><li>Test marketing involves placing a product for sale in one or more selected areas and observing its actual performance under the proposed marketing plan. </li></ul><ul><li>The purpose is to evaluate the product and pretest marketing efforts in a real setting prior to a full scale introduction. </li></ul><ul><li>Allows actual consumer behavior to be observed. </li></ul><ul><li>Learn about competitive reactions and the response of channel members. </li></ul>
  20. 24. Step 6 Test Marketing <ul><li>After testing is completed, the firm is ready to introduce the product to its full target market. </li></ul><ul><li>This is commercialization and corresponds to be introductory stage of the product life cycle. </li></ul>
  21. 25. Web Analysis <ul><li>Omniture </li></ul><ul><li>Google Analytics </li></ul><ul><li>Google Optimizer </li></ul>
  22. 26. Step 7 Commercialization <ul><li>Commercialization involves implementing a total marketing plan and full production. </li></ul><ul><li>Marketing (Traffic Building) </li></ul><ul><li>Build a work flow for transaction. </li></ul>
  23. 27. Marketing <ul><li>News Paper (Expand to one new area) </li></ul><ul><li>Email marketing </li></ul><ul><li>Blog </li></ul><ul><li>SEO </li></ul>
  24. 28. SEO <ul><li>URL </li></ul><ul><li>Meta </li></ul><ul><li>Page Struture </li></ul><ul><li>Keywords </li></ul><ul><li>Sitemaps </li></ul><ul><li>Inner Links </li></ul><ul><li>Back Links </li></ul>
  25. 29. Three key factors for effective product development <ul><li>Operating Philosophy </li></ul><ul><ul><li>A High-Quality New Product Process </li></ul></ul><ul><ul><li>A Clear and Well-Communicated New Product Strategy for the Business </li></ul></ul><ul><li>Adequate Resources for New Products </li></ul><ul><li>Organizational Structure </li></ul><ul><ul><li>The Experience Effect </li></ul></ul><ul><ul><li>Management Style </li></ul></ul>
  26. 30. Operating Philosophy <ul><li>Growth through new products developed internally. </li></ul><ul><li>Have a formal new product process </li></ul><ul><li>Have a strategic plan that includes a certain portion of company growth from new products. </li></ul>
  27. 31. A High-Quality New Product Process <ul><li>Emphasizing the up-front predevelopment homework. </li></ul><ul><li>Building in the voice of the customer throughout. </li></ul><ul><li>Demanding sharp, early product definition </li></ul><ul><li>Having tough Go/Kill decision points where projects really to get killed </li></ul><ul><li>And highlighting quality of execution throughout </li></ul>
  28. 32. A Clear and Well-Communicated New Product Strategy for the Business <ul><li>There are clear goals or objectives for business’s total new product effort; </li></ul><ul><ul><li>For example, what percentage of sales or profits new products will contribute to the business </li></ul></ul><ul><ul><li>There are clearly defined arenas – specified areas of strategic focus, such as products, markets, or technologies – to give direction to the business’s total new product effort </li></ul></ul><ul><ul><li>The role of new products in achieving the business’s goals and the new product strategy for the business are clearly communicated to all who need to know. </li></ul></ul>
  29. 33. Adequate Resources for New Products <ul><li>In top-performing businesses, senior management has devoted the necessary resources-people and money, marketing and technical – to achieve the business’s new product objectives. </li></ul><ul><li>R&D budgets are adequate – judged to be sufficient in light of the business’s new product objectives. </li></ul><ul><li>The necessary people are in place and have their time freed up for new products. </li></ul>
  30. 34. Organizational Structure <ul><li>Successful companies are more likely to house the new product organization in R&D or engineering </li></ul><ul><li>More likely to allow the marketing and R&D functions have greater influence on the new product process. </li></ul>
  31. 35. Movoto’s Development teams <ul><li>Product </li></ul><ul><ul><li>CEO, 3 PM </li></ul></ul><ul><li>Marketing </li></ul><ul><ul><li>VP </li></ul></ul><ul><li>Engineering </li></ul><ul><ul><li>VP </li></ul></ul><ul><ul><li>Director </li></ul></ul><ul><ul><li>12 Engineers </li></ul></ul><ul><li>(Sales VP) </li></ul>
  32. 36. The Experience Effect <ul><li>Experience in introducing new products enables companies to improve new product performance. </li></ul><ul><li>New product development costs conform to the experience curve: The more you do something, the efficient you become at doing it. </li></ul><ul><li>This experience advantage stems from the acquisition of a knowledge of the market and of the steps required to develop a new product. </li></ul>
  33. 37. Management Style <ul><li>Select a management style appropriate to immediate new product development needs </li></ul><ul><li>Revise and tailor that approach to changing new product opportunities. </li></ul>
  34. 38. Questions? <ul><li>Sting Chen (陈世欣 ) </li></ul><ul><li>Twitter : @stingchen </li></ul><ul><li>Blog : BOPOR.COM </li></ul>