What is the best way to manage the new-product development process?

1. Sai Chakradhar Araveti, Junior Undergraduate, IIT Delhi
SYNOPSIS
What is the best way to manage the new-product development
process?
Marketing Management - A South Asian Perspective, 14 edition, P. Kotler

2. Sai Chakradhar Araveti, Junior Undergraduate, IIT Delhi
OBJECTIVES
• Maximize the product fit with customer needs
• Minimize time to market
“Companies must find a balance between the new product goals and its
resources and competencies”

3. Sai Chakradhar Araveti, Junior Undergraduate, IIT Delhi
SOLUTION 1
• Strategic alliances to
obtain enabling
technologies and assess
the technologies which
need to be developed
internally for long term
success of the company

4. Sai Chakradhar Araveti, Junior Undergraduate, IIT Delhi
SOLUTION 1I
• A parallel development
process to reduce cycle
time and incorporate
customer and supplier
requirements in the
product and process
design

5. Sai Chakradhar Araveti, Junior Undergraduate, IIT Delhi
TOOLS
• Stage-gate process
• Quality function deployment
• Design for manufacturing
• Computer aided design/manufacturing

6. Sai Chakradhar Araveti, Junior Undergraduate, IIT Delhi
OTHER IMPERATIVES
• Identifying finance and tax efficient ways to
support R&D
• Commercializing ideas and entering new markets