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New product commercialization


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New product commercialization

  1. 1. New Product<br />Development <br />&<br />Commercialization<br />Strategy<br />of<br />VIRESOLVE <br />GROUP-05<br />*Amiya Kumar(10EX-003) *AnkurGirdhar (10EX-004)<br />*Dilip Kumar Mallick (10EX-013) * Pradipta Paul (10EX-033)<br />* Satyabrata Dash (10EX-045)<br />
  2. 2. Market strategy Given Newness of Markets & Product<br />New<br />Market<br />Market Development<br />Diversification <br />Market Penetration<br />Product Development<br />Existing Market<br />Existing Product <br />New Product <br />*Ansoff H. Igor (1957) , “Market Strategy Given Newness of Market & Products” <br />
  3. 3. New Product Types….<br />X<br />Delusion<br /><br /><br />Incremental<br />Breakthrough<br />Incremental<br />X<br />Breakthrough<br />Shadow<br />Customer's Perception<br />Supplier's Perception<br />Breakthrough<br />Incremental<br />
  4. 4. Nature of Marketing Task….<br />Technology Voice<br />Customer Voice<br />Breakthrough<br />Incremental<br />Marketing Task<br /><ul><li>Vision The Market
  5. 5. Building & Creating demand for the Product
  6. 6. Listening to the Market
  7. 7. Effectively & Efficiently addressing the existing demand</li></li></ul><li>Key Steps in <br />Viresolve Development <br />Idea Generation <br />Preliminary Market Assessment<br />Preliminary Technical Assessment<br />Detailed Market Study<br />Product Development & Testing<br />Trial Sell<br />Costing & Pricing <br />Commercialization & Launch<br />
  8. 8. Idea Generation<br /><ul><li>It’s a core R&D’s initiative
  9. 9. Tangential flow membrane technology</li></ul> (an R&D O/P)<br /><ul><li>To identify promising applications for technology </li></li></ul><li>Preliminary Market Assessment<br /><ul><li>Marketing manager generated a short list of potential applications
  10. 10. Narrowed the list to three applications after prelim experiments
  11. 11. Zeroed in Virus Removal </li></li></ul><li>Preliminary Technical Assessment<br /><ul><li> Inactivation of Viruses Vs. Virus Removal</li></ul>Detailed Market Study<br /><ul><li> Bio-pharmaceutical market identified as the key market
  12. 12. Market Segmentation on size of proteins instead of geographical and sectors</li></li></ul><li>Product Development & Testing<br /><ul><li>As per the market segmentation, two new products were developed Viresolve/70 & Viresolve/180
  13. 13. Product validation done is two ways</li></ul> Published proof validation<br /> Correlating Integrity Test<br />
  14. 14. Trial Sell<br /><ul><li> Installation of SPECIALS, </li></ul> to educate the customer<br /><ul><li>Collecting the feedback, & ensure a good product impression </li></li></ul><li>Costing & Pricing <br /><ul><li>Premium Pricing
  15. 15. Disposable Vs. Reusable
  16. 16. Pricing problem on 102 – foot- module</li></li></ul><li>Commercialization & Launch<br /><ul><li> Building & Creating demand for the Product
  17. 17. Preparing the sales Forces
  18. 18. Target biopharmaceutical to be the first customer
  19. 19. Bundled with Correlating Integrity Test & training program</li></li></ul><li>Key Success Factors in Viresolve<br /><ul><li> Able to identify, VIRESOLVE :- breakthrough or incremental
  20. 20. Organizational structure
  21. 21. Experience effect of the customer
  22. 22. Appropriate launch strategy </li></li></ul><li>Issues & Recommendation<br /><ul><li>Penetration in to US market
  23. 23. Pricing of 102-foot-module & pushing into manufacturing facilities
  24. 24. Short Technology Life-Cycle
  25. 25. Strong substitute </li></li></ul><li>THANKS<br />