Creating and designing the new best seller new, entrepreneurial product design,new product design

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This is summary of how products are created/improved. The product redesign is customer centric. The aim is how to get a job done. The ultimate objective of new product is to be disruptive - to create new industry standards and rules. This presentation is intended for the use of present and future students of the presentor in Entrepreneurship Elective in Ateneo. a leading university in the Philippines for MBA education. Uploading at slideshare would provide convenience and accessibility for the body of knowledge that they acquired while enrolled. This updated lecture would enrich their learning,

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Creating and designing the new best seller new, entrepreneurial product design,new product design

  1. 1. CREATING AND DESIGNING THE NEW BEST SELLER Mesmerize and Magnetize the Buyers
  2. 2. E.G. Product Design Process Flow
  3. 3. Product Design – Starting Point of Value Chain Creating Value
  4. 4. Value creation <ul><li>Business adds value </li></ul><ul><li>Value is wealth creation </li></ul><ul><li>Product innovation adds value </li></ul><ul><li>Product design is the start: </li></ul><ul><li>VALUE CREATION </li></ul>
  5. 5. Product Design is Customer Centric
  6. 6. Creative process
  7. 7. A new backpack design
  8. 8. Car design sells; less dependent on technology
  9. 9. Objectives of product design <ul><li>Differentiation and uniqueness . The design features must be COMPELLING; must MESMERIZE/MAGNETIZE BUYERS! </li></ul><ul><li>That the product sells by itself. </li></ul><ul><li>To get the job done – to deliver value to the </li></ul><ul><li>to the customer. </li></ul>
  10. 10. Processes in product design <ul><li>Creative process- artistic, appeal to </li></ul><ul><li>to the five senses. </li></ul><ul><ul><li>ideation </li></ul></ul><ul><ul><li>brainstorming </li></ul></ul><ul><ul><li>mock up prototype </li></ul></ul><ul><li>2. Technical process- the required inputs </li></ul><ul><li>BOM, machinery, manpower, and engineering process needed to produce </li></ul><ul><li>the product </li></ul>
  11. 11. <ul><li>3.Business processes – market research, FGD, UAI study, the COGS, GP, distribution, marketing, advertising, sales efforts needed to sell the product. </li></ul>
  12. 12. Factors to Consider in Product Design <ul><li>Product variants – size, sku, color, style, seasonality, features. </li></ul><ul><li>How is the product actually used? </li></ul><ul><li>Substitute products/competitive products </li></ul><ul><li>Who actually uses the product? </li></ul>
  13. 13. Simplified steps in product design <ul><li>What is the problem/job? </li></ul><ul><li>What are the many ways to solve the problem do the job? </li></ul><ul><li>What is the best way to do the job </li></ul>
  14. 14. Unique Selling Proposition (Differentiation) <ul><li>Differentiate or die </li></ul><ul><li>Difference between a businessman and entrepreneur </li></ul>BUSINESSMAN Me too Copier Static ENTREPRENEUR The only one Copier too with add-ons Dynamic
  15. 15. How to be differentiated? <ul><li>Naming the product: </li></ul><ul><ul><li>Easy to pronounce Zagu </li></ul></ul><ul><ul><li>Few syllables </li></ul></ul><ul><ul><li>Xerox </li></ul></ul><ul><ul><li>Exxon </li></ul></ul><ul><ul><li>Apple </li></ul></ul><ul><ul><li>Canon </li></ul></ul>
  16. 16. How to differentiate? <ul><li>Naming the product: </li></ul><ul><ul><li>Easy to pronounce </li></ul></ul><ul><ul><li>Easy to remember </li></ul></ul><ul><ul><li>The name must convey the MVP/product </li></ul></ul><ul><ul><li>features: </li></ul></ul><ul><ul><li>E.g. COAT SAVER </li></ul></ul><ul><ul><li>SWEET AND SOUR </li></ul></ul><ul><ul><li>QUICK FIX </li></ul></ul>
  17. 17. <ul><li>Use of alliteration in names: </li></ul><ul><li>GERRY’S GRILL </li></ul><ul><li>BOOKAY UKAY </li></ul><ul><li>DUNKIN DONUTS </li></ul><ul><li>NISSAN </li></ul><ul><li>TOYOTA </li></ul><ul><li>NIKON </li></ul>
  18. 18. Value Delivery <ul><ul><li>Value is not = Price </li></ul></ul><ul><ul><ul><li>Price is set by the enterprise </li></ul></ul></ul><ul><ul><ul><li>Value is determined by the customer </li></ul></ul></ul><ul><ul><ul><li>Thus customers will pay more for a product which is delivered fast vs a cheaper product </li></ul></ul></ul><ul><ul><ul><li>that is delayed. </li></ul></ul></ul>
  19. 19. Methods of New Product Design <ul><li>Creating an entirely, never before made product-an invention, a breakthrough </li></ul><ul><li>Reformulating , tweaking, redesigning an existing tired old product. </li></ul><ul><li>Rebranding an old product. </li></ul>
  20. 20. Improving an Existing Product <ul><li>1.Magnify – make bigger and faster, examples: </li></ul><ul><li>AIRBUS 380 </li></ul><ul><li>CONCORDE </li></ul><ul><li>FAMILY SIZE </li></ul><ul><li>MCLAREN </li></ul>
  21. 21. Product design <ul><li>2. MINIFY (make smaller lighter) </li></ul><ul><li>for example: </li></ul><ul><li>Nokia cellphone (vs older Motorola) </li></ul><ul><li>Microchips </li></ul><ul><li>Notebooks </li></ul><ul><li>Miniskirt </li></ul><ul><li>Hatchbacks </li></ul>
  22. 22. Product design <ul><li>CHANGE THE PROCESS (or even the inputs) </li></ul><ul><li>BREWED VS INSTANT COFFEE </li></ul><ul><li>GRILLED VS STEAMED </li></ul><ul><li>WOOD VS LPG COOKING </li></ul><ul><li>FAST VS SLOW COOKING </li></ul>
  23. 23. Product design <ul><li>4. MUMIFY (lengthen shelf life) </li></ul><ul><li>e.g </li></ul><ul><li>Vacuum sealed </li></ul><ul><li>Freeze blast </li></ul><ul><li>Preserved in olive oil </li></ul><ul><li>MAKE IT THE FRESHEST </li></ul><ul><li>Cooked in front of you </li></ul><ul><li>Pick your own </li></ul>
  24. 24. The ultimate result of product design: <ul><li>Not merely cosmetic nor skin (packaging) deep; </li></ul><ul><li>Must change industry rules; </li></ul><ul><li>Must be disruptive : </li></ul><ul><li>Usually results in lower costs </li></ul><ul><li>Displaces industry giants/leaders </li></ul><ul><li>Transfers value elsewhere </li></ul>
  25. 25. Examples of disruptive products <ul><li>Encarta disrupted Britannica; in </li></ul><ul><li>turn, Wikipedia disrupted </li></ul><ul><li>Encarta. </li></ul>
  26. 26. Disruptive product
  27. 27. Disruptive Product
  28. 28. Disruptive – Cebu Pacific
  29. 29. Tata Nano - Disruptive
  30. 30. Disruptive
  31. 31. What’s the new disruptive product from this Class? What is the next blockbuster, bestseller from your imagination?
  32. 32. Product Design
  33. 33. Corporate Product Design Team
  34. 34. Product design drawings
  35. 35. Product Design Process
  36. 36. Product design drawings
  37. 37. Other product design process
  38. 38. A new bed design
  39. 39. Thank you for watching and listening. [email_address]

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