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Speed Wins: Launching new products and services. pptx

Learn how to get your products and services to market on time to enhance your range of services. Peter Eales gives practical examples and case studies for a range of businesses across all sectors, showing how to use product management for business growth. This session is a presentation for people in marketing and business owners. It shows how to work with customers and suppliers to test ideas, products and services using prototypes, MVPs (Minimum Viable Products which are like prototypes), and methods to save wasted time and cost. Peter shows the importance of good project management and how to adjust plans and tactics up to and after launch. It was originally a presentation given to 2014 to marketers and business owners. Peter Eales is MD of o i solutions ltd and Marketing Manager at Hixsons Ltd. He is a CIM chartered marketer, CIM and IDM Fellow and ex regional chair, and Dorset CIM Vice Chair. A Dorset Community Foundation Board Member and Dorset Business Angels GM and Director. Previously a plc director and experienced product manager across the UK and Europe.

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Launching New Products 
and Services 
o i solutions limited
Objectives from Today 
● Show you how to manage all or any part of the product management 
process. 
● Explain the stages of product and service development, with examples, so 
you can use tools to create, test and launch products and services. 
● Show how to generate, screen and manage ideas for products and services. 
● How to produce a simple, product/services marketing plan – the 
opportunities and risks – what key tasks to do, how and when. 
● Demonstrate the importance of teamwork, communication, testing and 
feedback together with sound basic project management practices. 
o i solutions limited
Take Aways from Today 
o i solutions limited 
● Mind Maps 
● Lean Tools 
● Templates 
● Online sites: free and low 
cost 
By Appointment 
- e-book for social media 
- strategy plans
Our One Page Lean Answer 
o i solutions limited 
● People 
● Work at Speed 
● Be Truly Accountable 
● A Strategy
The Journey - Ideas to Delivery 
o i solutions limited
Marketing Plan 
o i solutions limited
Who comes up with Ideas? 
o i solutions limited
Our Idea or The Customers’ Idea? 
o i solutions limited
Suggestion Schemes don’t work 
o i solutions limited
Ideas Management 
Ideas Submission Ideas Testing 
o i solutions limited
Any takers for you idea? 
Identify Market Needs 
● You love your idea, will people pay for it or use it? Ask yourself: 
● What is the target market for the product I am proposing? Who wants this 
stuff? Sectors, segments, SIC, etc. 
● Be clear about a typical customer. Are these yours? What evidence do you 
have? 
● Be very clear about product/service benefits over your existing range 
● How does this compare to competition? Price/Features Better, Different, 
Cheaper? 
● What are the market's frustrations of existing products of its type? 
● How will the product fit into the current market? 
● What sets this product apart from its ? 
o i solutions limited
Market Research 
● Questions such as: 
● Demand 
● Sales 
● Who buys? 
● Price? 
● Look, feel, taste, etc.? 
● Location for my business? 
● Competition? 
o i solutions limited 
● Primary research (or field 
research) 
● Surveys 
● Direct observations 
● Interviews and focus groups 
● Secondary research (or internet) 
● Existing market research results 
● Existing data from your CRM 
● Information from agencies.
Customer Research 
o i solutions limited
Minimum Viable Product 
o i solutions limited 
● Steve Blank 
● Eric Ries 
● Forget the 100 features 
● Japanese Lean 
Management 
● Forget Detailed Waterfall 
Planning 
● Key Features to get to 
market 
● http://youtu.be/4Ylm3THHNpM
Minimum Viable Product(MVP), 
Pivot and Lean Canvas 
o i solutions limited
The Journey - Ideas to Delivery 
o i solutions limited
Faster: learn, build and measure 
o i solutions limited
MVP Not Needed 
o i solutions limited 
Three reasons not to build a Minimum Viable 
Product 
If you don’t need validated learning however, 
you should not build MVPs. 
1. You are building a sustaining innovation 
product. 
2. You don’t care if you’re wasteful. 
When Apple was figuring out what its retail 
experience was to be they prototyped it. 
3. You achieve product-market fit. 
Product-market (P-M) fit is not a proposal. 
As the market pulls the product out of you, you 
build it! Fully!
Product Design 
o i solutions limited 
● Idea protection 
 IP 
 Patents 
 Trademarks 
 Designs 
 Copyright
o i solutions limited 
Lean Canvas
o i solutions limited
Environmental Review 
PESTEL PORTER’S 5 FORCES 
o i solutions limited
TOWS - SWOT 
o i solutions limited
Business Case & Finance 
o i solutions limited
Marketing Strategy 
o i solutions limited
Implementation – Marketing Schedule 
Your Company SEPT OCT OCT OCT OCT OCT NOV DEC JAN 
MONTH AND W/E for immediate period 26 3 10 17 24 31 month month month 
ACTIVITY WHO NOTES 
DESCRIPTION 
SEGMENT OR PRODUCT OFFERS 
Product or Service 1 you and colleague testing testing testing testing testing testing testing Review targets Draft plan Launch? 
Product or Service 2 you and colleague preparing for roll-out review and research review and research review and research review and research Draft plan Draft plan Launch? 
Product or Service 3 you and colleague preparing for roll-out review and research spec write 
o i solutions limited 
Prep for newsletter 
launch 
Product or Service 4 you and colleague preparing for roll-out review opportunities write spec for Ancom 
Product or Service 5 you and colleague Rule of Thumb quick decisions aid for businesses review opportunities spec 
Product or Service 6 you and colleague Simple, practical, honed tools for small businesses testing testing testing testing testing testing Review targets Draft plan Launch? 
COMMS PLANS 
Direct Marketing 
Newsletter you and colleague Wkly theme Wkly theme Wkly theme Wkly theme Wkly theme Wkly theme Wkly theme Wkly theme Wkly theme 
Newsletter you and colleague Send Send Send 
Telemarketing 
Use refreshed list you List refresh? 
PR 
xyz colleague 
xyz 
Speaker opportunities xyz Also Chambers locally and Prof Bodies 
Advertising you occasional opportunities? Linked to PR 
Social Media 
Media Tool Peter 
Daily posts Peter 
Add Pinterest&Storify Peter 
Twitter Peter Grow followers. 1500+ Carolyn input some target names. 
Events 
Conference 2014 you 
Seminars? you targets medium long term. LinkedIn and PR . 
Surveys 
web survey you 
Networking you 
Service Manuals 
Product Brochures 
New Packaging 
You 
Colleague 
Partner
Targets and Segmentation 
o i solutions limited
Branding, Advertising & Packaging 
● Objectives and goals 
● Brand values 
● Clear targeting and positioning 
● Budget 
● Advertising strategy 
● Schedule 
● Assumptions/metrics 
● Packaging and design 
o i solutions limited
o i solutions limited 
Pricing 
The Pricing Conundrum 
A McKinsey survey of 2483 companies showed a successful 1% increase in price increased profit 
by 11.1% (more than 1% improvement in volume, fixed or variable costs) 
BUT a later McKinsey survey showed near 90% of poor pricing decisions featured under-pricing
Three approaches 
to price-setting 
o i solutions limited 
Cost based 
“What margin should we 
make?” 
Value Based 
“What the customer perceives” 
Competitor-based 
“What do competitors 
charge?”
Pricing new products 
– best practice 
● Reference price (after 6 months) - shows how the maker truly 
values the product 
 too low handicaps long term profit 
 too low invites competitors to price war 
 too low may create forecasting difficulties 
 too low may result in cannibalisation 
● Recommend life cycle strategy 
 high release price - reductions over the lifecycle 
o i solutions limited
Lifecycle Pricing 
o i solutions limited 
Premium pricing 
Skimming pricing 
Penetration pricing 
LOW PRICE
Finance, Budgets and Forecasts 
● What are your Assumptions 
● Build a model that shows what happens when 
results deviate from assumptions 
● What is the marginal increase in sales 
● Marginal unit increase 
● Marginal GP increase 
● More sophisticated plans show cash, P&L, 
balance sheet 
o i solutions limited
Conferences and Events Management 
o i solutions limited 
● Don’t see the Launch itself as THE 
project objective. But it must like 
any milestone be delivered with 
total quality. 
● However these events are about 
good project management 
● Attention to detail 
● Supplier and partner management 
● Outsource tools and sites eg 
Eventbrite
Direct Marketing 
o i solutions limited 
● direct mail campaign 
● use telemarketing effectively 
and responsibly 
● use email marketing 
effectively 
● responsible SMS marketing 
● leaflet marketing and tips for 
● Businesses using direct 
selling and network 
marketing to make sales
o i solutions limited 
Social Media 
● A key element of the 
comms plan 
● Needs to be integrated 
into other marketing 
strategy and messages: 
 Keywords 
 Themes & Content 
Strategy 
 Agree key platforms 
 Regular interesting 
content for target market
Public Relations (PR) media pack 
1. Letter of introduction: Sometimes referred to as the pitch letter 
2. Information on the company: This includes your company's history, a company profile, and 
profiles of senior management. 
3. Product and service information, including a product, service or performance review. 
4. Recent press publications and articles. 
5. Press releases: Many times, these are what instigated and caused the printing of the articles 
described above. 
6. Audio and video files of radio or TV interviews, speeches, performances and any other media-covered 
event. 
7. A sample news story. 
8. Since many media kits are put together for investors, any news related to the industry and 
financial statements. 
9. List of frequently asked questions 
10. Other items to include: Photos (if appropriate), Giveaway information and an order form 
o i solutions limited
Distribution, Partners and Support 
Issues for Review 
● Establish how and where to market and sell products. These may be already established. 
● Consider how competitors distribute to decide if there are opportunities to be considered. 
● Record volumes and value of business by channels ie direct sales, distributors, online etc. costs 
and relative profitability. 
Launch Tasks 
● Sales team – the sooner the better. Brief them early and give them the information they need to 
prime the pump in their territories. Some companies use video and conference launches. 
● Channel partners – include them early so they can educate their customers 
● Executives – they can be your biggest evangelists 
● Involving customer support – often on the front lines. Take advantage of it. 
● Industry Analysts – brief them, get their feedback and keep them up-to-date on developments: 
see PR. 
o i solutions limited
Portfolio Management 
● A product portfolio is the range of items sold by a business 
● It can be analysed using the Boston Matrix 
● with a new launch the financial effect on the range 
● with a new launch any change to the overall branding particularly if the new 
products are impactful 
● for an unsuccessful launch need for remedial action 
End of Life 
● Costly to keep products and services in the range, can be best to remove 
● Recycled or sustainable products 
o i solutions limited
o i solutions limited 
Contact 
Web: www.oisolutions.co.uk 
Tel: 01202 706 975 
E-mail:peter@oisolutions.co.uk 
Contact 
Web: www.hixsons.co.uk 
Tel: 01202 520 010 
E-mail:office@hixsons.co.uk

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Speed Wins: Launching new products and services. pptx

  • 1. Launching New Products and Services o i solutions limited
  • 2. Objectives from Today ● Show you how to manage all or any part of the product management process. ● Explain the stages of product and service development, with examples, so you can use tools to create, test and launch products and services. ● Show how to generate, screen and manage ideas for products and services. ● How to produce a simple, product/services marketing plan – the opportunities and risks – what key tasks to do, how and when. ● Demonstrate the importance of teamwork, communication, testing and feedback together with sound basic project management practices. o i solutions limited
  • 3. Take Aways from Today o i solutions limited ● Mind Maps ● Lean Tools ● Templates ● Online sites: free and low cost By Appointment - e-book for social media - strategy plans
  • 4. Our One Page Lean Answer o i solutions limited ● People ● Work at Speed ● Be Truly Accountable ● A Strategy
  • 5. The Journey - Ideas to Delivery o i solutions limited
  • 6. Marketing Plan o i solutions limited
  • 7. Who comes up with Ideas? o i solutions limited
  • 8. Our Idea or The Customers’ Idea? o i solutions limited
  • 9. Suggestion Schemes don’t work o i solutions limited
  • 10. Ideas Management Ideas Submission Ideas Testing o i solutions limited
  • 11. Any takers for you idea? Identify Market Needs ● You love your idea, will people pay for it or use it? Ask yourself: ● What is the target market for the product I am proposing? Who wants this stuff? Sectors, segments, SIC, etc. ● Be clear about a typical customer. Are these yours? What evidence do you have? ● Be very clear about product/service benefits over your existing range ● How does this compare to competition? Price/Features Better, Different, Cheaper? ● What are the market's frustrations of existing products of its type? ● How will the product fit into the current market? ● What sets this product apart from its ? o i solutions limited
  • 12. Market Research ● Questions such as: ● Demand ● Sales ● Who buys? ● Price? ● Look, feel, taste, etc.? ● Location for my business? ● Competition? o i solutions limited ● Primary research (or field research) ● Surveys ● Direct observations ● Interviews and focus groups ● Secondary research (or internet) ● Existing market research results ● Existing data from your CRM ● Information from agencies.
  • 13. Customer Research o i solutions limited
  • 14. Minimum Viable Product o i solutions limited ● Steve Blank ● Eric Ries ● Forget the 100 features ● Japanese Lean Management ● Forget Detailed Waterfall Planning ● Key Features to get to market ● http://youtu.be/4Ylm3THHNpM
  • 15. Minimum Viable Product(MVP), Pivot and Lean Canvas o i solutions limited
  • 16. The Journey - Ideas to Delivery o i solutions limited
  • 17. Faster: learn, build and measure o i solutions limited
  • 18. MVP Not Needed o i solutions limited Three reasons not to build a Minimum Viable Product If you don’t need validated learning however, you should not build MVPs. 1. You are building a sustaining innovation product. 2. You don’t care if you’re wasteful. When Apple was figuring out what its retail experience was to be they prototyped it. 3. You achieve product-market fit. Product-market (P-M) fit is not a proposal. As the market pulls the product out of you, you build it! Fully!
  • 19. Product Design o i solutions limited ● Idea protection  IP  Patents  Trademarks  Designs  Copyright
  • 20. o i solutions limited Lean Canvas
  • 21. o i solutions limited
  • 22. Environmental Review PESTEL PORTER’S 5 FORCES o i solutions limited
  • 23. TOWS - SWOT o i solutions limited
  • 24. Business Case & Finance o i solutions limited
  • 25. Marketing Strategy o i solutions limited
  • 26. Implementation – Marketing Schedule Your Company SEPT OCT OCT OCT OCT OCT NOV DEC JAN MONTH AND W/E for immediate period 26 3 10 17 24 31 month month month ACTIVITY WHO NOTES DESCRIPTION SEGMENT OR PRODUCT OFFERS Product or Service 1 you and colleague testing testing testing testing testing testing testing Review targets Draft plan Launch? Product or Service 2 you and colleague preparing for roll-out review and research review and research review and research review and research Draft plan Draft plan Launch? Product or Service 3 you and colleague preparing for roll-out review and research spec write o i solutions limited Prep for newsletter launch Product or Service 4 you and colleague preparing for roll-out review opportunities write spec for Ancom Product or Service 5 you and colleague Rule of Thumb quick decisions aid for businesses review opportunities spec Product or Service 6 you and colleague Simple, practical, honed tools for small businesses testing testing testing testing testing testing Review targets Draft plan Launch? COMMS PLANS Direct Marketing Newsletter you and colleague Wkly theme Wkly theme Wkly theme Wkly theme Wkly theme Wkly theme Wkly theme Wkly theme Wkly theme Newsletter you and colleague Send Send Send Telemarketing Use refreshed list you List refresh? PR xyz colleague xyz Speaker opportunities xyz Also Chambers locally and Prof Bodies Advertising you occasional opportunities? Linked to PR Social Media Media Tool Peter Daily posts Peter Add Pinterest&Storify Peter Twitter Peter Grow followers. 1500+ Carolyn input some target names. Events Conference 2014 you Seminars? you targets medium long term. LinkedIn and PR . Surveys web survey you Networking you Service Manuals Product Brochures New Packaging You Colleague Partner
  • 27. Targets and Segmentation o i solutions limited
  • 28. Branding, Advertising & Packaging ● Objectives and goals ● Brand values ● Clear targeting and positioning ● Budget ● Advertising strategy ● Schedule ● Assumptions/metrics ● Packaging and design o i solutions limited
  • 29. o i solutions limited Pricing The Pricing Conundrum A McKinsey survey of 2483 companies showed a successful 1% increase in price increased profit by 11.1% (more than 1% improvement in volume, fixed or variable costs) BUT a later McKinsey survey showed near 90% of poor pricing decisions featured under-pricing
  • 30. Three approaches to price-setting o i solutions limited Cost based “What margin should we make?” Value Based “What the customer perceives” Competitor-based “What do competitors charge?”
  • 31. Pricing new products – best practice ● Reference price (after 6 months) - shows how the maker truly values the product  too low handicaps long term profit  too low invites competitors to price war  too low may create forecasting difficulties  too low may result in cannibalisation ● Recommend life cycle strategy  high release price - reductions over the lifecycle o i solutions limited
  • 32. Lifecycle Pricing o i solutions limited Premium pricing Skimming pricing Penetration pricing LOW PRICE
  • 33. Finance, Budgets and Forecasts ● What are your Assumptions ● Build a model that shows what happens when results deviate from assumptions ● What is the marginal increase in sales ● Marginal unit increase ● Marginal GP increase ● More sophisticated plans show cash, P&L, balance sheet o i solutions limited
  • 34. Conferences and Events Management o i solutions limited ● Don’t see the Launch itself as THE project objective. But it must like any milestone be delivered with total quality. ● However these events are about good project management ● Attention to detail ● Supplier and partner management ● Outsource tools and sites eg Eventbrite
  • 35. Direct Marketing o i solutions limited ● direct mail campaign ● use telemarketing effectively and responsibly ● use email marketing effectively ● responsible SMS marketing ● leaflet marketing and tips for ● Businesses using direct selling and network marketing to make sales
  • 36. o i solutions limited Social Media ● A key element of the comms plan ● Needs to be integrated into other marketing strategy and messages:  Keywords  Themes & Content Strategy  Agree key platforms  Regular interesting content for target market
  • 37. Public Relations (PR) media pack 1. Letter of introduction: Sometimes referred to as the pitch letter 2. Information on the company: This includes your company's history, a company profile, and profiles of senior management. 3. Product and service information, including a product, service or performance review. 4. Recent press publications and articles. 5. Press releases: Many times, these are what instigated and caused the printing of the articles described above. 6. Audio and video files of radio or TV interviews, speeches, performances and any other media-covered event. 7. A sample news story. 8. Since many media kits are put together for investors, any news related to the industry and financial statements. 9. List of frequently asked questions 10. Other items to include: Photos (if appropriate), Giveaway information and an order form o i solutions limited
  • 38. Distribution, Partners and Support Issues for Review ● Establish how and where to market and sell products. These may be already established. ● Consider how competitors distribute to decide if there are opportunities to be considered. ● Record volumes and value of business by channels ie direct sales, distributors, online etc. costs and relative profitability. Launch Tasks ● Sales team – the sooner the better. Brief them early and give them the information they need to prime the pump in their territories. Some companies use video and conference launches. ● Channel partners – include them early so they can educate their customers ● Executives – they can be your biggest evangelists ● Involving customer support – often on the front lines. Take advantage of it. ● Industry Analysts – brief them, get their feedback and keep them up-to-date on developments: see PR. o i solutions limited
  • 39. Portfolio Management ● A product portfolio is the range of items sold by a business ● It can be analysed using the Boston Matrix ● with a new launch the financial effect on the range ● with a new launch any change to the overall branding particularly if the new products are impactful ● for an unsuccessful launch need for remedial action End of Life ● Costly to keep products and services in the range, can be best to remove ● Recycled or sustainable products o i solutions limited
  • 40. o i solutions limited Contact Web: www.oisolutions.co.uk Tel: 01202 706 975 E-mail:peter@oisolutions.co.uk Contact Web: www.hixsons.co.uk Tel: 01202 520 010 E-mail:office@hixsons.co.uk