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Objectives
 Challenges in New Product
Development (NPD)
 Organizational Structure & NPD
 Stages & Management of NPD
 Diffusion & Adaption of New Products

7. ©2000 Prentice Hall
Why New Products Fail
 “Over Championing”
 Overestimated Demand
 Poor Design
 Poor Marketing Execution
 High Development Costs
 Strong Competitive Reaction

8. ©2000 Prentice Hall
Challenges in NPD
 Idea Shortage
 Fragmented Markets
 Social & Governmental Constraints
 Cost
 Capital Shortage
 Need for Speed
 Shorter Product Life Cycles

9. ©2000 Prentice Hall
New Product Development
Process
Idea
Generation
Concept
Development
and Testing
Marketing
Strategy
Development
Idea
Screening
Business
Analysis
Product
Development
Market
Testing
Commercialization

10. ©2000 Prentice Hall
Probability of Success
Probability
of technical
completion
Overall
probability
of success
=
Probability of
commercialization
given technical
completion
X
Probability of
economic
success given
commercialization
X

11. ©2000 Prentice Hall
Concept Development &
Testing
1. Develop Product Ideas into
Alternative Product Concepts
2. Concept Testing - Test the Product
Concepts with Groups of Target Customers
3. Choose the Best One

12. ©2000 Prentice Hall
High price/oz.
Lowincalories
Low price/oz.
Highincalories
Product & Brand
Positioning
(a) Product-positioning
map
(breakfast market)
Expensive
Slow
Inexpensive
QuickBacon
and
eggs
Pancakes Instant
breakfast
Cold
cereal
Hot
cereal
b) Brand-positioning
map
(instant breakfast market)
Brand C
Brand B
Brand A

13. ©2000 Prentice Hall
Conjoint Analysis
Brand name
--
--
--
--
--
Utility
1.0
0 | | |
K2R Glory Bissell
Retail Price
Utility
--
--
--
--
--
1.0
0
| | |
$1.19 $1.39 $1.59
Good Housekeeping Seal?
Utility
1.0--
--
--
--
--
0 | |
No Yes
Utility
Money-Back
Guarantee?
1.0--
--
--
--
--
0
| |
No Yes

14. ©2000 Prentice Hall
Consumer-Goods Market
Testing
Sales-
Wave
Research
Test offering trail to
a sample of
consumers in
successive
periods.
Simulated
Test Market
Test in a simulated
shopping environment
to a sample of
consumers.
Standard
Test Market
Full marketing campaign
in a small number of
representative cities.
Controlled
Test Market
A few stores that have
agreed to carry new
products for a fee.

15. ©2000 Prentice Hall
Commercialization
When
Where
Whom
Product
Price
Place
Promotion

16. ©2000 Prentice Hall
2 1/2%
Innovators
13 1/2%
Early
adopters
34%
Early
majority
34%
Late
majority
16%
Laggards
Time of adoption innovations
Adopter Categorization of the Basis of
Relative Time of Adoption of Innovations

17. ©2000 Prentice Hall
Characteristics of the
Innovation Rate of Adoption
 Relative advantage
 Compatibility
 Complexity
 Divisibility
 Communicability

18. ©2000 Prentice Hall
Review
 Challenges in New Product
Development (NPD)
 Organizational Structure & NPD
 Stages & Management of NPD
 Diffusion & Adaption of New Products

19. ©2000 Prentice Hall
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