Top 10 Concepts Introducing New Market Offerings Ma. Regina Paula I. Valencia
Outline:  <ul><li>Companies need to expand into new markets </li></ul><ul><li>Ways to create new products </li></ul><ul><l...
Outline:  <ul><li>New-Product Development Process: Development  </li></ul><ul><li>New-Product Development Process: Market ...
Concept 1 Companies need to expand into new markets <ul><li>Develop new products & services </li></ul><ul><li>Why? </li></...
Concept 1 Companies need to expand into new markets <ul><li>Kotler: </li></ul><ul><li>Local: Jollibee </li></ul><ul><li>RP...
Concept 2 Ways to create new products <ul><li>New or improved existing products </li></ul><ul><li>Make/Develop </li></ul><...
Concept 2 Ways to create new products <ul><li>Buy/Acquire </li></ul><ul><ul><li>Kotler:  </li></ul></ul><ul><ul><li>Local:...
Concept 3 Innovation, success and failure <ul><li>Innovation is necessary  </li></ul><ul><li>Innovative companies </li></u...
Concept 3 Innovation, success and failure <ul><li>Success </li></ul><ul><li>Kotler: Scott Paper Company vs Fort Howard Pap...
Concept 4 New-Product Development Process: Idea Generation  <ul><li>Search for ideas </li></ul><ul><li>Interaction with va...
Concept 4 New-Product Development Process: Idea Generation  <ul><li>Idea Generation </li></ul><ul><ul><li>Kotler: P&G Mr. ...
Concept 5 New-Product Development Process: Idea Screening <ul><ul><li>Drop poor ideas as early as possible </li></ul></ul>...
Concept 5 New-Product Development Process: Idea Screening <ul><ul><li>Kotler: Friends (NBC) </li></ul></ul><ul><ul><li>Loc...
Concept 6 New-Product Development Process: Development  <ul><li>Finding a good concept that consumers would try </li></ul>...
Concept 6 New-Product Development Process: Development  <ul><li>Product Development </li></ul><ul><ul><li>Quality Function...
Concept 6 New-Product Development Process: Development  <ul><li>Kotler: Boeing 777 </li></ul><ul><li>Local: E-jeepney  </l...
Concept 7 New-Product Development Process: Market Testing <ul><li>Functional and psychological performance passed </li></u...
Concept 7 New-Product Development Process: Market Testing <ul><li>Methods: </li></ul><ul><ul><li>Sales-Wave Research </li>...
Concept 7 New-Product Development Process: Market Testing <ul><li>Kotler: Hawaii Coffee Company taste test </li></ul><ul><...
Concept 8 New-Product Development Process: Commercialization <ul><li>When? (timing) </li></ul><ul><li>Where? (Geographic s...
Concept 8 New-Product Development Process: Commercialization <ul><li>Kotler: Apple iPod </li></ul><ul><li>Local: Sunsilk S...
Concept 9 Consumer Adoption Process <ul><li>Adoption – decision to become a regular user </li></ul><ul><li>Consumer adopti...
Concept 9 Consumer Adoption Process <ul><li>Kotler: Electric dishwasher </li></ul><ul><li>Local: Electrolux, Joy dishwashi...
Concept 10 Factors Influencing Adoption Process <ul><li>Readiness </li></ul><ul><ul><li>Innovators, Early adopters, Early ...
Concept 10 Factors Influencing Adoption Process <ul><li>Kotler: Nike (skaters) </li></ul><ul><li>Local: Kris Aquino endors...
Summary <ul><li>Companies need to expand into new markets </li></ul><ul><li>Make or Buy </li></ul><ul><li>8 stages of new ...
Conclusion <ul><li>Companies need to grow their revenue over time by developing new products and expanding into new market...
Top 10 Concepts Introducing New Market Offerings <ul><li>Ma. Regina Paula I. Valencia </li></ul>
Upcoming SlideShare
Loading in …5
×

Kotler mm chapter 20 valencia

1,500 views
1,418 views

Published on

Published in: Business
0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
1,500
On SlideShare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
77
Comments
0
Likes
1
Embeds 0
No embeds

No notes for slide
  • I will be discussing the following concepts
  • First concept, companies need to increase their revenue by developing new products and expanding into new markets Why? Because a new product builds sales and more often than not, new innovations transforms industries and it changes peoples lives It is also essential to point out that recently, companies have also changed in the way they develop new products. I willl be discussing this in detail later.
  • So first, we have J and J, - created internal start-ups that seek financing from other J&amp;J units. And, teams who may have promising ideas can create business plans and win financing from the company. For the Production side – they have created the mammotome which has made breast surgery less invasive For the local example, I chose jollibee, they have transformed the industry (napasunod nila ang mcdo) and they are known for trying out new foods
  • How to create new products Either you make or you buy Make: Organic growth – development of new products from w/in the company Use your own laboratory or outsource development firms Buy: …
  • Kotler’s example: Nestle has acquired diverse brands such as Carnation, Dreyers Ice Cream, Ralston Purina and Chef America. Local example: Ayala has expanded by becoming a holding company of Ayala Land, BPI, Globe, Manila Water, even car dealerships like Honda and Isuzu For san mig , its basically the same, they have acquired breweries and even the Metro Water Bottled Water Corp (company behind wilkins), Sugarland and Purefoods Medical: Sanofi bought aventis in 2004. Together, they have been producing many drugs. Last year, Pfizer bought wyeth
  • Given a rapidly changing economy, innovation is necessary Innovative companies can quickly identify and capture new market opportunities Note the characteristics of innovative companies
  • Scott Paper Company vs Fort Howard Paper CO
  • Kotler mm chapter 20 valencia

    1. 1. Top 10 Concepts Introducing New Market Offerings Ma. Regina Paula I. Valencia
    2. 2. Outline: <ul><li>Companies need to expand into new markets </li></ul><ul><li>Ways to create new products </li></ul><ul><li>Innovation, success and failure </li></ul><ul><li>New-Product Development Process: Idea Generation </li></ul><ul><li>New-Product Development Process: Idea Screening </li></ul>
    3. 3. Outline: <ul><li>New-Product Development Process: Development </li></ul><ul><li>New-Product Development Process: Market Testing </li></ul><ul><li>New-Product Development Process: Commercialization </li></ul><ul><li>New-Product Development Process: Consumer Adoption Process </li></ul><ul><li>Factors Influencing Adoption Process </li></ul>
    4. 4. Concept 1 Companies need to expand into new markets <ul><li>Develop new products & services </li></ul><ul><li>Why? </li></ul><ul><ul><li>Maintain or build sales </li></ul></ul><ul><ul><li>Transform industries & companies </li></ul></ul><ul><ul><li>Change lives </li></ul></ul><ul><li>A change in the way of developing new products </li></ul>
    5. 5. Concept 1 Companies need to expand into new markets <ul><li>Kotler: </li></ul><ul><li>Local: Jollibee </li></ul><ul><li>RP Medical: Unilab </li></ul>
    6. 6. Concept 2 Ways to create new products <ul><li>New or improved existing products </li></ul><ul><li>Make/Develop </li></ul><ul><ul><li>Organic growth </li></ul></ul><ul><ul><li>Via own laboratories or new-product development firms </li></ul></ul><ul><li>Buy/Acquire </li></ul><ul><ul><li>Buy other companies </li></ul></ul><ul><ul><li>Acquire patents from other companies </li></ul></ul><ul><ul><li>Buy a license or franchise from another company </li></ul></ul>
    7. 7. Concept 2 Ways to create new products <ul><li>Buy/Acquire </li></ul><ul><ul><li>Kotler: </li></ul></ul><ul><ul><li>Local: </li></ul></ul><ul><ul><li>Medical: </li></ul></ul>
    8. 8. Concept 3 Innovation, success and failure <ul><li>Innovation is necessary </li></ul><ul><li>Innovative companies </li></ul><ul><ul><li>Positive attitude toward innovation </li></ul></ul><ul><ul><li>Risk taking </li></ul></ul><ul><ul><li>Routine innovation process </li></ul></ul><ul><ul><li>Teamwork </li></ul></ul><ul><ul><li>Allow people to experiment and fail </li></ul></ul>
    9. 9. Concept 3 Innovation, success and failure <ul><li>Success </li></ul><ul><li>Kotler: Scott Paper Company vs Fort Howard Paper Co. </li></ul><ul><li>Local: </li></ul><ul><li>RP Medical: </li></ul><ul><li>Failure: </li></ul><ul><li>Kotler: Google Answers </li></ul><ul><li>Local: Rolling Stores (PGMA) </li></ul><ul><li>RP Medical: Emilene’s Pharmacy </li></ul>
    10. 10. Concept 4 New-Product Development Process: Idea Generation <ul><li>Search for ideas </li></ul><ul><li>Interaction with various groups </li></ul><ul><ul><li>Customers </li></ul></ul><ul><ul><li>employees </li></ul></ul><ul><ul><li>scientists </li></ul></ul><ul><ul><li>engineers </li></ul></ul><ul><ul><li>marketing agencies </li></ul></ul><ul><ul><li>TM </li></ul></ul>
    11. 11. Concept 4 New-Product Development Process: Idea Generation <ul><li>Idea Generation </li></ul><ul><ul><li>Kotler: P&G Mr. Clean Magic Eraser </li></ul></ul><ul><ul><li>Local: Rajo Laurel for Plains and Prints </li></ul></ul><ul><ul><li>RP Medical: DOH Health programs and projects </li></ul></ul>
    12. 12. Concept 5 New-Product Development Process: Idea Screening <ul><ul><li>Drop poor ideas as early as possible </li></ul></ul><ul><ul><li>DROP-error </li></ul></ul><ul><ul><li>GO-error </li></ul></ul>
    13. 13. Concept 5 New-Product Development Process: Idea Screening <ul><ul><li>Kotler: Friends (NBC) </li></ul></ul><ul><ul><li>Local: Local Government Unit (deliberation of projects) </li></ul></ul><ul><ul><li>RP Medical: DOH Health programs or projects </li></ul></ul>
    14. 14. Concept 6 New-Product Development Process: Development <ul><li>Finding a good concept that consumers would try </li></ul><ul><li>Concept Development – idea  concepts </li></ul><ul><li>Concept Testing - prototypes </li></ul><ul><li>Conjoint Analysis – combining diff. attributes </li></ul><ul><li>Marketing Strategy </li></ul><ul><li>Business Analysis – attractive? </li></ul><ul><li>Estimating Costs and Profits </li></ul>
    15. 15. Concept 6 New-Product Development Process: Development <ul><li>Product Development </li></ul><ul><ul><li>Quality Function Deployment (QFD) </li></ul></ul><ul><ul><ul><li>= Consumer attributes (CA) + Engineering attributes (EA) </li></ul></ul></ul><ul><ul><li>Prototypes </li></ul></ul>
    16. 16. Concept 6 New-Product Development Process: Development <ul><li>Kotler: Boeing 777 </li></ul><ul><li>Local: E-jeepney </li></ul><ul><li>RP Medical: Herbal medicines - Lagundi Syrup or Capsules </li></ul>
    17. 17. Concept 7 New-Product Development Process: Market Testing <ul><li>Functional and psychological performance passed </li></ul><ul><li>Brand name and Packaging </li></ul><ul><li>4 variables: </li></ul><ul><ul><li>Trial </li></ul></ul><ul><ul><li>First repeat </li></ul></ul><ul><ul><li>Adoption </li></ul></ul><ul><ul><li>Purchase frequency </li></ul></ul>
    18. 18. Concept 7 New-Product Development Process: Market Testing <ul><li>Methods: </li></ul><ul><ul><li>Sales-Wave Research </li></ul></ul><ul><ul><li>Simulated Test Marketing </li></ul></ul><ul><ul><li>Controlled Test Marketing </li></ul></ul><ul><ul><li>Test Markets </li></ul></ul>
    19. 19. Concept 7 New-Product Development Process: Market Testing <ul><li>Kotler: Hawaii Coffee Company taste test </li></ul><ul><li>Local: Maggi noodles taste test </li></ul><ul><li>RP Medical: Phase III Clinical Trial (Praziquantel) in Mindoro, Leyte and Davao </li></ul>
    20. 20. Concept 8 New-Product Development Process: Commercialization <ul><li>When? (timing) </li></ul><ul><li>Where? (Geographic strategy) </li></ul><ul><li>To whom? (Target-market prospects) </li></ul><ul><li>How? (Introductory market strategy) </li></ul>
    21. 21. Concept 8 New-Product Development Process: Commercialization <ul><li>Kotler: Apple iPod </li></ul><ul><li>Local: Sunsilk Shampoo </li></ul><ul><li>RP Medical: Charantia </li></ul>
    22. 22. Concept 9 Consumer Adoption Process <ul><li>Adoption – decision to become a regular user </li></ul><ul><li>Consumer adoption  Consumer loyalty </li></ul><ul><li>Innovation diffusion process </li></ul><ul><ul><li>Spread of idea from source to ultimate users </li></ul></ul><ul><li>5 stages: </li></ul><ul><ul><li>Awareness </li></ul></ul><ul><ul><li>Interest </li></ul></ul><ul><ul><li>Evaluation </li></ul></ul><ul><ul><li>Trial </li></ul></ul><ul><ul><li>Adoption </li></ul></ul>
    23. 23. Concept 9 Consumer Adoption Process <ul><li>Kotler: Electric dishwasher </li></ul><ul><li>Local: Electrolux, Joy dishwashing liquid (as seen in commercials) </li></ul><ul><li>RP Medical: Alaxan free trial, Medreps giving free trial drugs </li></ul>
    24. 24. Concept 10 Factors Influencing Adoption Process <ul><li>Readiness </li></ul><ul><ul><li>Innovators, Early adopters, Early majority </li></ul></ul><ul><ul><li>Late majority, Laggards </li></ul></ul><ul><li>Personal Influence </li></ul><ul><li>Characteristics of innovation </li></ul><ul><ul><li>Relative advantage, Compatibility, Complexity </li></ul></ul><ul><ul><li>Divisibility, Communicability </li></ul></ul>
    25. 25. Concept 10 Factors Influencing Adoption Process <ul><li>Kotler: Nike (skaters) </li></ul><ul><li>Local: Kris Aquino endorsements </li></ul><ul><li>RP Medical: Belo celebrity endorsements </li></ul>
    26. 26. Summary <ul><li>Companies need to expand into new markets </li></ul><ul><li>Make or Buy </li></ul><ul><li>8 stages of new product development </li></ul><ul><ul><li>Idea generation </li></ul></ul><ul><ul><li>Idea screening </li></ul></ul><ul><ul><li>Concept Development and Testing, Marketing Strategy Development, Business Analysis, Product Development </li></ul></ul><ul><ul><li>Market Testing </li></ul></ul><ul><ul><li>Commercialization </li></ul></ul>
    27. 27. Conclusion <ul><li>Companies need to grow their revenue over time by developing new products and expanding into new markets </li></ul><ul><li>Keep the supply of ideas coming </li></ul>
    28. 28. Top 10 Concepts Introducing New Market Offerings <ul><li>Ma. Regina Paula I. Valencia </li></ul>

    ×