A single idea can make billions of money.

1. Meet EARLE
DICKSON.

2. Earle worked for Johnson &
Johnsonduring the 1920’s , which at that
time wasknown for their large
cotton gauze dressings.

3. Earle was recently
married to
who was very CLUMSY and
JOSEPHINE
accident-

4. Josephine would easily
cut herself
and
burn herself
while cooking.

5. So the clumsy wife would wait
for
to come home from work
every nightto dress her wounds.
his husband

6. His wife’s cuts and burns are
forJohnsonand Johnson’s.
LARGE SURGICAL
DRESSINGS.
TOO SMALL

7. So, Earle would just cut a
and place it on an adhesive
tapeto wrap around her wife’s
small piece of cotton gauze
finger cuts.

8. After many nights of
repeatedlymaking bandages,
to change.
he realized something has

9. Suddenly, HE HAD AN
IDEA!he thought to himself…
“Whynot prepare
inadvance for my wife?”
SEVERAL BANDAGES

10. He attached cotton gauze
squaresalong a long adhesive strip and
covered it with
CRINOLINE FABRIC.

11. And that is how
BAND-AID®
came to be.

12. trulybloody love story
Earle and Josephine’s
made
billions of money.

13. The idea of a lovesick man trying
to protect HIS LOVE OF HIS LIFE
madebillions of money.
to look for
an efficient and easy way

14. A single idea made
billions of money.

15. And just like Earle and his
Band-Aid,
Successful businessmen and
companies started with AN

16. but SOME ideas
madeBUSINESS
MEN
LOSE MONEY.

17. PRODUCT

18. What is a
PRODUCT?A product is a good, service, or idea consisting of
a bundle of tangible and intangible attributes that
satisfies consumers and is received in exchange
for money.

20. This refers to the systematic decision-making
related to all aspects of the development and the
management of a firm product. It is a process that
involves eight stages that every product needs to
go through in order to be
“BROUGHT TO THE
PRODUCT DEVELOPMENT

22. New products are first created as
the result of an idea or perceived
gap in the current world. It usually
arises from a need or a want that
can’t be immediately filled and
leads to the question:
1IDEA
GENERATI
ON

23. 1IDEA
GENERATI
ON
“WHY DON’T
I CREATE AND SELL
THAT PRODUCT?”

24. ‘Why don’t I create something that’ll make you
play video games without controllers?’
1IDEA
GENERATI
ON
‘Why don’t I convert a
computer set into something
that can be hand-carried?’
‘Why don’t I modify today’s computer
mouse into a cordless mouse?’
‘WHY DON’T I MAKE
A PORK SUBSTITUTE
FOR NON-PORK EATERS?’
‘WHY DON’T I MAKE
SHOES WATER-PROOF?’

25. 1 2IDEA
SCREENIN
G
This stage is all about
screening the idea because not
all ideas are good ones.

26. 1 2IDEA
SCREENIN
G
Marketers need to test consumer
reaction to their idea before they
continue. They need to throw the idea
around and see what people think
because oftentimes, the product idea
is great yet product itself is a fail.

27. 1 2 3CONCEPT
DEVELOPME
NT
If the feedback from consumers and
your business associates are great,
you need to move along and develop
a prototype or a sample.

28. 1 2 3CONCEPT
DEVELOPME
NT
This stage will allow you to see if the
product works and to allow your
target market to use it and provide
feedback for improvements.

29. 1 2 3 4MARKET
STRATEG
Y
In this stage, you determine your
target market (primary target markets
and secondary target markets) and
how to use the 4P’s to optimally sell
your product.

30. 1 2 3 4 5FEASIBILI
TYANALYSIS
This next stage is doing some research
or a feasibility research that will focus
on answering the questions:
“CAN WE PRODUCE IT?”
“CAN WE SELL IT?”

31. 1 2 3 4 5FEASIBILI
TYANALYSIS
If the feasibility research found out
that the idea is worth pursuing and is
doable, the product development
process begins.

32. 1 2 3 4 5 6PRODUCT
DESIGN
In here, you constantly add or incorporate
consumer feedback and feasibility analysis
to address the question of how the
product will look like. The design will
depend on what it does and what the
target market wants.

33. 1 2 3 4 5 6PRODUCT
DESIGN
You can’t just simply make a product
that is functional but also, it should
also satisfy what the market wants.

34. 1 2 3 4 5 6 7TEST
MARKETIN
G
Acceptance of the product is tested here.
“DO THE CONSUMERS LIKE IT?”
“WILL THEY BUY IT?”
This usually occurs by offering the product to a
random sample of the target market.

35. 1 2 3 4 5 6 7TEST
MARKETIN
G
The customer feedback will be then used to improve
the venture and determine whether the product
should “go to the market”. If the test marketing is
successful, the product will now go to the last stage.

36. 1 2 3 4 5 6 7TEST
MARKETIN
G
If the test marketing is successful, the
product will now go to the last stage.

37. 1 2 3 4 5 6 7 8MARKET
ENTRY
The product is officially
“IN THE MARKET”
and being sold to all.