This document contains a summary of key concepts and questions from Chapter 20 on introducing new market offerings. It includes definitions of categories of new products, causes of new product failure, stages of new product development, the consumer adoption process, creativity techniques, the time of adoption of innovations, and factors related to commercialization. The questions provided test understanding of these concepts.
PRODUCT DEVELOPMENT - Product development means making changes in the size, design, color, shape, characteristics, packing etc. of the product.
NEW PRODUCT DEVELOPMENT PROCESS
.1. introduction to New product development process
2. meaning of new New product development process
what is innovation and innovation
3. New product development process
4. step 1 idea generation
5. step 2 idea screening
6. step 3 concept develop & testing
7. step 4 marketing strategy
8. step 5 business analysis
9. step 6 product development
10. step 7 test marketing
11. commercialization
thank you very much
PRODUCT DEVELOPMENT - Product development means making changes in the size, design, color, shape, characteristics, packing etc. of the product.
NEW PRODUCT DEVELOPMENT PROCESS
.1. introduction to New product development process
2. meaning of new New product development process
what is innovation and innovation
3. New product development process
4. step 1 idea generation
5. step 2 idea screening
6. step 3 concept develop & testing
7. step 4 marketing strategy
8. step 5 business analysis
9. step 6 product development
10. step 7 test marketing
11. commercialization
thank you very much
Efficient Indicators to Evaluate the Status of Software Development Effort Es...IJMIT JOURNAL
Development effort is an undeniable part of the project management which considerably influences the
success of project. Inaccurate and unreliable estimation of effort can easily lead to the failure of project.
Due to the special specifications, accurate estimation of effort in the software projects is a vital
management activity that must be carefully done to avoid from the unforeseen results. However numerous
effort estimation methods have been proposed in this field, the accuracy of estimates is not satisfying and
the attempts continue to improve the performance of estimation methods. Prior researches conducted in
this area have focused on numerical and quantitative approaches and there are a few research works that
investigate the root problems and issues behind the inaccurate effort estimation of software development
effort. In this paper, a framework is proposed to evaluate and investigate the situation of an organization in
terms of effort estimation. The proposed framework includes various indicators which cover the critical
issues in field of software development effort estimation. Since the capabilities and shortages of
organizations for effort estimation are not the same, the proposed indicators can lead to have a systematic
approach in which the strengths and weaknesses of organizations in field of effort estimation are
discovered
New Product Development Process And Strategy PowerPoint Presentation SlidesSlideTeam
If you have a brilliant idea for the new product launch our new product development process and strategy PowerPoint Presentation is a promising presentation that can portray your thoughts convincingly. When you download this product management PPT slide, you get various designs such as product outline, idea screening, new product introduction, detailed overview, understanding customer needs, internal & external sources of new product, roadmap, category planning, porters five forces model, product lifecycle, introduction stage, growth stage, maturity stage, decline stage, tools & techniques, BCG matrix, Ansoff matrix, empathy map, Kano map, market segmentation, geographic, demographic psychographic, & behavioral segmentation and many more. The new product launch PowerPoint templates can be utilized for few topics like entering a new market, NPD process, product development, product launch, launch strategy, market entry strategy, new product introduction and product marketing. Our New product development process and strategy PPT diagram can make your presentation interesting and captivating. Send all fears flying with our New Product Development Process And Strategy PowerPoint Presentation Slides. They can handle all emerging doubts.
The FPDP helps you to scale the Design Thinking approach. The slides show the main content, a short explanation and a first step into roles and the process itself. Check out how a combination of best practice and experience helps you to scale your product and service development.
Visual Braindump applies the Design Thinking process, designed by IDEO and combines it with Kanban and their own best practice to provide the scaling opportunity.
New Product Development was a 3-day public workshop for managers offered for many years through what is now UW-Madison’s Center for Professional and Executive Development (CPED). Since CPED has modified its mission to focus on leadership and management training, this and other marketing classes have been discontinued. Therefore I am providing this for your individual education.
A version of this presentation with embedded hyperlinks to YouTube videos and other educational sites is available through my website, BrainSnacksCafe.com.
Enjoy!
New product development with creativity & innovationTimothy Wooi
A slide on New product development with creativity & innovation to share and bless you implementing Green Living in mobilizing idle resources to add value.
New Product Development Process And Strategy PowerPoint Presentation SlidesSlideTeam
Every organization needs to adapt to the ever-changing business environment. Sensing this need, we have come up with these content-ready change management PowerPoint presentation slides. These change management PPT templates will help you deal with any kind of an organizational change. Be it with people, goals or processes. The business solutions incorporated here will help you identify the organizational structure, create vision for change, implement strategies, identify resistance and risk, manage cost of change, get feedback and evaluation, and much more. With the help of various change management tools and techniques illustrated in this presentation design, you can achieve the desired business outcomes. This business transition PowerPoint design also covers certain related topics such as change model, transformation strategy, change readiness, change control, project management and business process. By implementing the change control methods mentioned in the presentation, you will be able to have a smooth transition in an organization. So, without waiting much, download our extensively researched change management framework presentation. With our Change Management Presentation slides, understand the need for change and plan to go through it without any hassles.
The New Product Development ProcessBecause introdu.docxcherry686017
The New Product Development Process
Because introducing new products on a consistent basis is important to the future success of many organizations, marketers in charge of product decisions often follow set procedures for bringing products to market. In the scientific area that may mean the establishment of ongoing laboratory research programs for discovering new products (e.g., medicines) while less scientific companies may pull together resources for product development on a less structured timetable.
In this PowerPoint slide show, we present a process comprising the key elements of new product development. While some companies may not follow a deliberate step-by-step approach, the steps are useful in showing the information input and decision making that must be done in order to successfully develop new products. The process also shows the importance market research plays in developing products. We should note that while this process works for most industries, it is less effective in developing radically new products. The main reason lies in the inability of the target market to provide sufficient feedback on advanced product concepts since they often find it difficult to understand radically different ideas. So while many of these steps are used to research breakthrough ideas, the marketer should exercise caution when interpreting the results.
*
New Products are vital
As the cartoon highlights, in this era of rapid changes in our external environment, innovation is imperative. A firm cannot rest on their laurels (and current products). Furthermore, the time it takes firms to bring new products to market has accelerated. Firms that fail to develop new products put themselves at risk as their existing products are vulnerable to changing customer needs and tastes, new technologies, shortened product-life-cycles, and increased competition. In this PowerPoint slideshow, we highlight the 8 step new product development process as described by Kotler and Keller (2016).
*
8 Step New-Product Development Process1. Idea Generation2. Idea Screening3. Concept Development and Testing4. Marketing Strategy Development5. Business Analysis6. Product Development7. Market Testing8. Commercialization
How Kotler and Keller (2016) describes the New Product Development Process is as an eight stage process in which the new product can be dropped at any time. Other sources will condense some of the steps so you may see others refer to fewer steps. If you look at these closely though, they are not deleting any of the activities, but instead are combining some of them.
*
Step 1: Idea GenerationAt this stage marketers need to ask: Is the idea worth considering?If yes, proceed to idea screening.If no, drop.Ideas for new products can come from:Customers and channel membersScientists and engineersBy examining competitorsTop management
The first step of new product development requires gathering ideas to be evaluated as potential product ...
Efficient Indicators to Evaluate the Status of Software Development Effort Es...IJMIT JOURNAL
Development effort is an undeniable part of the project management which considerably influences the
success of project. Inaccurate and unreliable estimation of effort can easily lead to the failure of project.
Due to the special specifications, accurate estimation of effort in the software projects is a vital
management activity that must be carefully done to avoid from the unforeseen results. However numerous
effort estimation methods have been proposed in this field, the accuracy of estimates is not satisfying and
the attempts continue to improve the performance of estimation methods. Prior researches conducted in
this area have focused on numerical and quantitative approaches and there are a few research works that
investigate the root problems and issues behind the inaccurate effort estimation of software development
effort. In this paper, a framework is proposed to evaluate and investigate the situation of an organization in
terms of effort estimation. The proposed framework includes various indicators which cover the critical
issues in field of software development effort estimation. Since the capabilities and shortages of
organizations for effort estimation are not the same, the proposed indicators can lead to have a systematic
approach in which the strengths and weaknesses of organizations in field of effort estimation are
discovered
New Product Development Process And Strategy PowerPoint Presentation SlidesSlideTeam
If you have a brilliant idea for the new product launch our new product development process and strategy PowerPoint Presentation is a promising presentation that can portray your thoughts convincingly. When you download this product management PPT slide, you get various designs such as product outline, idea screening, new product introduction, detailed overview, understanding customer needs, internal & external sources of new product, roadmap, category planning, porters five forces model, product lifecycle, introduction stage, growth stage, maturity stage, decline stage, tools & techniques, BCG matrix, Ansoff matrix, empathy map, Kano map, market segmentation, geographic, demographic psychographic, & behavioral segmentation and many more. The new product launch PowerPoint templates can be utilized for few topics like entering a new market, NPD process, product development, product launch, launch strategy, market entry strategy, new product introduction and product marketing. Our New product development process and strategy PPT diagram can make your presentation interesting and captivating. Send all fears flying with our New Product Development Process And Strategy PowerPoint Presentation Slides. They can handle all emerging doubts.
The FPDP helps you to scale the Design Thinking approach. The slides show the main content, a short explanation and a first step into roles and the process itself. Check out how a combination of best practice and experience helps you to scale your product and service development.
Visual Braindump applies the Design Thinking process, designed by IDEO and combines it with Kanban and their own best practice to provide the scaling opportunity.
New Product Development was a 3-day public workshop for managers offered for many years through what is now UW-Madison’s Center for Professional and Executive Development (CPED). Since CPED has modified its mission to focus on leadership and management training, this and other marketing classes have been discontinued. Therefore I am providing this for your individual education.
A version of this presentation with embedded hyperlinks to YouTube videos and other educational sites is available through my website, BrainSnacksCafe.com.
Enjoy!
New product development with creativity & innovationTimothy Wooi
A slide on New product development with creativity & innovation to share and bless you implementing Green Living in mobilizing idle resources to add value.
New Product Development Process And Strategy PowerPoint Presentation SlidesSlideTeam
Every organization needs to adapt to the ever-changing business environment. Sensing this need, we have come up with these content-ready change management PowerPoint presentation slides. These change management PPT templates will help you deal with any kind of an organizational change. Be it with people, goals or processes. The business solutions incorporated here will help you identify the organizational structure, create vision for change, implement strategies, identify resistance and risk, manage cost of change, get feedback and evaluation, and much more. With the help of various change management tools and techniques illustrated in this presentation design, you can achieve the desired business outcomes. This business transition PowerPoint design also covers certain related topics such as change model, transformation strategy, change readiness, change control, project management and business process. By implementing the change control methods mentioned in the presentation, you will be able to have a smooth transition in an organization. So, without waiting much, download our extensively researched change management framework presentation. With our Change Management Presentation slides, understand the need for change and plan to go through it without any hassles.
The New Product Development ProcessBecause introdu.docxcherry686017
The New Product Development Process
Because introducing new products on a consistent basis is important to the future success of many organizations, marketers in charge of product decisions often follow set procedures for bringing products to market. In the scientific area that may mean the establishment of ongoing laboratory research programs for discovering new products (e.g., medicines) while less scientific companies may pull together resources for product development on a less structured timetable.
In this PowerPoint slide show, we present a process comprising the key elements of new product development. While some companies may not follow a deliberate step-by-step approach, the steps are useful in showing the information input and decision making that must be done in order to successfully develop new products. The process also shows the importance market research plays in developing products. We should note that while this process works for most industries, it is less effective in developing radically new products. The main reason lies in the inability of the target market to provide sufficient feedback on advanced product concepts since they often find it difficult to understand radically different ideas. So while many of these steps are used to research breakthrough ideas, the marketer should exercise caution when interpreting the results.
*
New Products are vital
As the cartoon highlights, in this era of rapid changes in our external environment, innovation is imperative. A firm cannot rest on their laurels (and current products). Furthermore, the time it takes firms to bring new products to market has accelerated. Firms that fail to develop new products put themselves at risk as their existing products are vulnerable to changing customer needs and tastes, new technologies, shortened product-life-cycles, and increased competition. In this PowerPoint slideshow, we highlight the 8 step new product development process as described by Kotler and Keller (2016).
*
8 Step New-Product Development Process1. Idea Generation2. Idea Screening3. Concept Development and Testing4. Marketing Strategy Development5. Business Analysis6. Product Development7. Market Testing8. Commercialization
How Kotler and Keller (2016) describes the New Product Development Process is as an eight stage process in which the new product can be dropped at any time. Other sources will condense some of the steps so you may see others refer to fewer steps. If you look at these closely though, they are not deleting any of the activities, but instead are combining some of them.
*
Step 1: Idea GenerationAt this stage marketers need to ask: Is the idea worth considering?If yes, proceed to idea screening.If no, drop.Ideas for new products can come from:Customers and channel membersScientists and engineersBy examining competitorsTop management
The first step of new product development requires gathering ideas to be evaluated as potential product ...
CEOThe mission of Knockout Shoes is to be recognized as a soci.docxtidwellveronique
CEO
The mission of Knockout Shoes is to be recognized as a socially responsible company providing high quality shoes for the North American and Latin American markets.
The overall strategy of Knockout Shoes is focused differentiation while addressing socially responsible business practices. The decisions by operations, financing, and marketing support this strategy because we have limited all production to North America and Latin American. We have limited sales to Wholesale and Internet sales in North America and Latin America. We have purchased the contracts of Ophrah Beyonse, Tiger Green, and Jose Montana. We have engaged in green manufacturing practices. We have limited the number of models sold. We use high-quality materials in the manufacturing process. We have provided sufficient capital to sustain operations. We have provided a return to stockholders and to society.
VPO
We produce all of our shoes in North America and Latin America because this allows for better control over the manufacturing process and reduces the cost to ship shoes to the two target markets. We limited our models to 50 to maintain better control over the manufacturing process and to limit the costs for styling. We have set our superior material usage rate at 80% to ensure a high quality shoe. We use green materials. We have set the enhanced styling features to $20,000 per model to support the production of a shoe that is perceived to be high quality. We have invested in energy efficiency. We use recycled boxing materials. Our entire workforce has received ethics training, and we have a diverse workforce. We spend $2,000 per worker on Best Practices Training.
VPM
We have set our wholesale price at $60 and our internet price at $85 because the shoes are high quality shoes. We sell only in North America and Latin America. We do not allow internet sales outside of North America and Latin America. We have contracted with Ophrah Beyonse, Tiger Green, and Jose Montana because these three have the best celebrity appeal scores for our two markets. We do not provide for private label production because it does not support our strategy of focused differentiation. We have set our advertising budget at $10,000,000. We offer a $3 rebate as part of our advertising strategy. We are able to provide delivery within 1 week because most of our shoes are manufactured in the country in which they are sold. We have few shipments between North America and Latin America.
VPF
We have issued 100,000 shares of stock and secured a 10-year bank loan of $8,000,000 to finance operations. We declared a dividend of $.15 to provide a return to stockholders. We have plans to ensure that ROE is at least 15% per year. We have plans to ensure that our cost of pairs sold is no more than 53%. We have plans to ensure that our default risk is no more than Medium. We have committed 3% of pre-tax profits for charitable contributions.
The New Product Development Proce ...
Real estate is "property exist of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this an item of real property,buildings or housing in general.
INTRODUCTION
In order to stay successful in the face of maturing products, companies need a continuous stream of new ideas successfully developed into new products. The way to obtain new products is to have a structured and carefully executed new product development process (NPD).
But companies face a problem: Although they must develop new products, the odds weigh heavily against success. Among thousands of products entering the process at the top, only a handful eventually reach the market. Therefore, it is of crucial importance to understand consumers, markets, and competitors in order to develop new products that deliver superior value to customers.
In other words, there is no way around a systematic, customer-driven new product development process for finding and growing new products. We will go into the eight major steps in the new product development process.
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1. TOP 10 Learning Questions for Chapter 20: Introducing New Market offerings Kim Dec/23/2010
2. 1. Which does not belong to the Categories of New Products? Question New-to-the-world New product lines New partners Improvements Cost reductions
3. Concept Categories of New Products New-to-the-world New product lines Additions Improvements Repositionings Cost reductions
4. 4 Explanation of Concept Categories of New Products leareyes.blogspot.com There are 6 factors of the Categories of New Products Which are New-to-the-world, New product lines, Additions, Improvements, Repositionings and Cost reductions. New Partners is NOT involved to the Categories of New Products.
5. 1. Which does not belong to the Categories of New Products? Answer New-to-the-world New product lines New partners Improvements Cost reductions
6. Question 2. Which does not cause the Market/Marketing failure? Small size of the potential market No clear product differentiation Poor positioning Misunderstanding of customer needs Late in the market
8. The factors of Market/marketing failure A to D are the reason of Market/marketing failure. Late in the market is the reason of timing failure not Market/marketing failure. Reference: Text book P.611 Explanation of Concept
9. Answer 2. Which does not cause the Market/Marketing failure? Small size of the potential market No clear product differentiation Poor positioning Misunderstanding of customer needs Late in the market
10. 3. One of the following is not a stage in new- product development process? Business analysis Mass customization Product development Market testing Commercialization Question
11. New Product Development Decision Process Business Analysis Idea Generation Product Development Marketing Testing Idea Screening Concept Development and Testing Concept leareyes.blogspot.com Commercialization
12.
13. Idea Screening –is the product idea compatible with company objectives, strategies, and resources?
20. 3. One of the following is not a stage in new- product development process? Business analysis Mass customization Product development Market testing Commercialization Answer
21. 4. What is the individual’s decision to become a regular user of a product? Awareness Interest Evaluation Test Adoption Question
22. Concept The Consumer-Adoption Process Adoption – is an individual’s decision to become a regular user of a product. After which, the adopters of new products move trough the 5 stages in adoption process. An innovation is any good, service, or idea that someone perceives as new, no matter how long its history. leareyes.blogspot.com
23. Explanation of Concept Stage in the Consumer-Adoption Process Awareness Interest Evaluation Adoption Trial leareyes.blogspot.com
24. 4. What is the individual’s decision to become a regular user of a product? Awareness Interest Evaluation Test Adoption Answer
25. 5. What is NOT in the Concept Development? Product idea Product concept Category concept Concept testing Mapping Answer Question
26. Concepts in Concept Development Concept to Strategy: Attractive ideas must be refined into testable product concepts. A product idea is a possible product the company might offer to the market. Concept Development: This is a product idea, but consumers don’t buy product ideas; they buy product concepts. Concept
27. Explanation of Concept Concepts in Concept Development Product idea Product concept Category concept Brand concept Concept testing
28. 5. What is NOT in the Concept Development? Product idea Product concept Category concept Concept testing Mapping Answer
29. 6. What is the right step of the Consumer-Adoption Process? Question Awareness->Interest->Evaluation->trial->Adoption Adoption ->Awareness->Interest->Evaluation->trial Interest->Evaluation-> Awareness-> trial->Adoption Interest-> Awareness->Evaluation->trial->Adoption Awareness->trial->Interest->Evaluation-> Adoption
30. The Consumer-Adoption Process Adoption: An individual’s decision to become a regular use of a product. The consumer-adoption process is followed by the consumer-loyalty process, which is the concern of the established producer. Concept
31. Adopters of new products move through 5 stages Awareness: The consumer becomes aware of the innovation but lacks information about it Interest: The consumer is stimulated to seek information about the innovation Evaluation: The consumer considers whether to try the innovation Trial: The consumer tries the innovation to improve his or her estimate of its value Adoption : The consumer decides to make full and regular us of the innovation Explanation of Concept
32. 6. What is the right step of the Consumer-Adoption Process? Answer Awareness->Interest->Evaluation->trial->Adoption Adoption ->Awareness->Interest->Evaluation->trial Interest->Evaluation-> Awareness-> trial->Adoption Interest-> Awareness->Evaluation->trial->Adoption Awareness->trial->Interest->Evaluation-> Adoption
33. Question 7. Which statement is Not correct in Marketing Strategy Development? Marketing strategy is a three-part plan for introducing new-product in the market. Marketing strategy should outline the planned price, distribution strategy, and marketing budget for the first year. Marketing strategy describes the long-run sales and profit goals. Marketing strategy does not consider the target market’s size, structure, and behavior. None of the above leareyes.blogspot.com
34. Concept THREE-PART PLAN MARKETING STRATEGY DEVELOPMENT First Part Describes the target market’s size, structure, and behavior. Outlines the planned price, distribution strategy, and marketing budget for the first year. Describes the long-run sales and profits goals and marketing-mix strategy over time. Second Part Third Part leareyes.blogspot.com leareyes.blogspot.com
35. MARKETING STRATEGY DEVELOPMENT! Marketing Strategy is a three-part plan for introducing new-product in the market. After the company has segmented the market, chosen its target customers and identified their needs, next is to determine its desired marketing position. After the concept test, comes the introduction of the new product into the market with the 3 part marketing plan. Explanation of Concept leareyes.blogspot.com
36. Marketing strategy is a three-part plan for introducing new-product in the market. Marketing strategy should outline the planned price, distribution strategy, and marketing budget for the first year. Marketing strategy describes the long-run sales and profit goals. Marketing strategy does not consider the target market’s size, structure, and behavior. None of the above 7. Which statement is not true in Marketing Strategy Development? Answer leareyes.blogspot.com
37. 8. Which is NOT related to the Creativity Techniques? Attribute listing Morphological analysis New contexts Mind mapping Flexible relationships Question
38. Definition of the Creativity techniques Creativity techniques are methods that encourage creative actions, whether in the arts or sciences. They focus on a variety of aspects of creativity, including techniques for idea generation and divergent thinking, methods of re-framing problems, changes in the affective environment and so on. They can be used as part of problem solving, artistic expression, or therapy. Concept
39. List of the Creativity techniques Attribute listing: List the attributes of an object Forced relationships: List several ideas and consider each in relation to each other idea Morphological analysis: By listing every possible combination, you can generate many new solutions New contexts: Take familiar processes Mind mapping: Start with a thought Explanation of Concept
40. 8. Which is NOT related to the Creativity Techniques? Attribute listing Morphological analysis New contexts Mind mapping Flexible relationships Answer
41. Early Adopters Late Adopters Early Majority Late majority Laggards 9. Which is NOT included the Time of Adoption of Innovations? Question
42. Factors Influencing the Adoption process Differences in individual readiness to try new products The Effect of personal influence Differing rates of adoption Differences in organizations’ readiness to try new products Concept
43. Time of Adoption of Innovations Innovators Early Adopters Early majority Late majority Laggards Explanation of Concept
44. Early Adopters Late Adopters Early Majority Late majority Laggards 9. Which is NOT included the Time of Adoption of Innovations? Answer
45. 10. Which is not related with Commercialization? When Where To whom How Why Question
46. Definition of Commercialization Commercialization is the process or cycle of introducing a new product into the market. The actual launch of a new product is the final stage of new product development, and the one where the most money will have to be spent for advertising, sales promotion, and other marketing efforts. Concept
47. The factors of Commercialization When: In commercializing a new product, market-entry timing is critical. Where: The company must decide to launch the new product. To whom: The company must target its initial distribution and promotion to the best prospect groups. How: The company must develop an action plan for introducing the new product. Explanation of Concept
48. 10. Which is not related with Commercialization? When Where To whom How Why Answer
49. TOP 10 Learning Questions for Chapter 20: Introducing New Market offerings Kim Dec/23/2010