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Managing new product development

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Managing new product development

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Managing new product development

  1. 1. Managing New Product Development By – Mausumi Mohanta
  2. 2. Requires Management Product Development
  3. 3. Starting With : Ideas !!
  4. 4. Generating Ideas With An Unbiased View And Outside-in Perspective Of Demand Opportunities
  5. 5. Create A Platform For
  6. 6. • Interaction With Employees • Interaction With Customers • Studying Competitors • Adopting Creativity Techniques
  7. 7. Managing the Idea Screening Process
  8. 8. Overall Probability Of Product Success Probability Of Technical Completion * Probability Of Commercialization Given Technical Completion * Probability Of Economic Success Given Commercialization
  9. 9. Managing Development Of Concept To Strategy
  10. 10. Consumers Buy product Concepts Not Ideas
  11. 11. All Aspects of Product like Brand-positioning, Product-positioning Is Done By Concept Testing.
  12. 12. Conjoint Analysis - A Popular Concept And Development Testing Tool.
  13. 13. What Is Conjoint Analysis ? Deriving Utility Values That Consumers Attach To varying Levels Of Product Attributes. ADA - Adaptive Conjoint Analysis
  14. 14. • Developing Market Strategy • Doing Business Analysis • Estimating the Total Sales • Estimating the Costs, and Profits
  15. 15. Managing the Development Process: Development to Commercialization
  16. 16. The Product Prototype is now Introduced to the Customer • Alpha testing • Beta testing
  17. 17. Managing Market Testing • Consumer-Goods Market Testing - Estimate trial, first repeat, adoption and Purchase frequency
  18. 18. Methods For Consumer-Goods Market Testing • Sales-Wave Research • Simulated Test Marketing • Controlled Test Marketing • Test Markets
  19. 19. Managing Market Testing • Business-Goods Market Testing - Exposes unanticipated problems of safety and servicing
  20. 20. Commercialization The Process or/cycle of Introducing A new Product or Service to the Market.
  21. 21. New product Campaign Based on : • When (Timing) • Where(Geographic Strategy) • To Whom (Target Market) • How (Introductory Market Strategy)
  22. 22. Company Needs To Manage All Stages Of New Product Development : Conceptualization to Product Launch

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