The Branding Lab Presentation - "The Un-Branded Presentation of what a Strategic Marketer THINKS about Brand" - By Jon Burgess. This talks about how strategic marketers can build brand with out design leading the way, and how strong brands start from strong foundations, not great design. Jon is a marketing professional, speaker and instructor and has worked with more than 500 clients.
This presentation was made by us. This presentation topic is new product development. our university name is Eastern University. If you are benefited by this slide please share this slide.
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The Branding Lab Presentation - "The Un-Branded Presentation of what a Strategic Marketer THINKS about Brand" - By Jon Burgess. This talks about how strategic marketers can build brand with out design leading the way, and how strong brands start from strong foundations, not great design. Jon is a marketing professional, speaker and instructor and has worked with more than 500 clients.
This presentation was made by us. This presentation topic is new product development. our university name is Eastern University. If you are benefited by this slide please share this slide.
Thank you
The making of a new product to be sold by a business or enterprise to its customers is known as Product Development. It may include the alteration of an existing product or its entire value, or the creation of an entirely new product that satisfies a newly defined customer’s needs and/or wants.
In this lesson, the term Development refers collectively to the entire process of distinguishing a market opportunity, making a product to attract the identified market. Some mat include testing, modifying and refining the product until this will be ready for mass production. Any product that is sold to the consumers are subject for product development.
These are the basic questions you may ask yourself when you want to pursue product development. If you find acceptable answers to these, then you are ready to develop a product or render services:
1. For whom are the product/service aimed?
2. What benefit will the customers expect from it?
3. How will the product differ from the existing brand? Or from their competitor?
The needs and wants of the people within the area should also be taken into consideration. Everyone has his/her own needs and wants. But due to people’s unsatisfaction, they have different concepts of needs and wants. Needs in business are important things that every individual does without in a society. These include:
1. Basic commodities for consumption
2. Clothing and other personal belongings
3. Shelter, sanitation and health
4. Education
Basic needs are essential to every individual so he/she may be able to live with dignity and pride in the community he/she lives. These needs can obviously help you generate business ideas and subsequently to develop a marketable product. While, Wants are desires, luxury and extravagance that signify wealth and expensive way of living. They are the things that above all the basic necessities of life, like fashion accessories, shoes, clothes, travelling around the world, eating in an exclusive restaurant, watching movies, concerts, plays, having luxurious cars, wearing expensive jewelry, perfume, living in impressive homes, and others.
Needs and wants of people are the basic indicators of the kind of business that a seller may engage into because they can serve as the basis of your success. Some other good points that you might consider in business undertakings are the people, aside from their needs, wants, lifestyle, culture and tradition, and social orientation.
The very critical stage in developing a product is called Concept Development. Before the product specifications, the needs of the target are defined, market are identified and competitive products are reviewed. Then along with the economic analysis, the product concept is selected to come up with an outline of how a product is being developed. The figure below show the stages of concept development of a product.
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.
Understanding Strategic Planning: What would you ask?Alex Goh
So lets say you wish to amp up your understanding on strategic planning. Now imagine you could ask a fellow Planner anything - what would you ask? The above is a compilation of 4 questions - from one Planner to another.
But it's but ONE way of answering those questions. How would you have answered differently?
Be it an alternative answer, or a new question, feel free to drop a comment below (or start your own Q&A) and see what kind of conversation ensues.
The Utility Stores Corporation (USC) of Pakistan is a State-owned enterprise that operates chain stores throughout the country whose main purpose is to provide basic commodities to the general public at lower prices than the open market.
But due to the supermarkets, buyers prefer to go there than to utility stores because Its better to visit to supermarkets which have much better environment than to wait in queues outside the utility stores.
The Utility Stores' performance is declining day by day BECAUSE they aren’t able to manage their working capital properly.
Usama Shahid Khan, Pakistani Information System Engineer turned entrepreneur turned project manager, graduated from NUST.
He quit his job and started working on startups. After many attempts, he finally succeeded to launch a project named “MeriTaleem” but eventually it failed !
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The making of a new product to be sold by a business or enterprise to its customers is known as Product Development. It may include the alteration of an existing product or its entire value, or the creation of an entirely new product that satisfies a newly defined customer’s needs and/or wants.
In this lesson, the term Development refers collectively to the entire process of distinguishing a market opportunity, making a product to attract the identified market. Some mat include testing, modifying and refining the product until this will be ready for mass production. Any product that is sold to the consumers are subject for product development.
These are the basic questions you may ask yourself when you want to pursue product development. If you find acceptable answers to these, then you are ready to develop a product or render services:
1. For whom are the product/service aimed?
2. What benefit will the customers expect from it?
3. How will the product differ from the existing brand? Or from their competitor?
The needs and wants of the people within the area should also be taken into consideration. Everyone has his/her own needs and wants. But due to people’s unsatisfaction, they have different concepts of needs and wants. Needs in business are important things that every individual does without in a society. These include:
1. Basic commodities for consumption
2. Clothing and other personal belongings
3. Shelter, sanitation and health
4. Education
Basic needs are essential to every individual so he/she may be able to live with dignity and pride in the community he/she lives. These needs can obviously help you generate business ideas and subsequently to develop a marketable product. While, Wants are desires, luxury and extravagance that signify wealth and expensive way of living. They are the things that above all the basic necessities of life, like fashion accessories, shoes, clothes, travelling around the world, eating in an exclusive restaurant, watching movies, concerts, plays, having luxurious cars, wearing expensive jewelry, perfume, living in impressive homes, and others.
Needs and wants of people are the basic indicators of the kind of business that a seller may engage into because they can serve as the basis of your success. Some other good points that you might consider in business undertakings are the people, aside from their needs, wants, lifestyle, culture and tradition, and social orientation.
The very critical stage in developing a product is called Concept Development. Before the product specifications, the needs of the target are defined, market are identified and competitive products are reviewed. Then along with the economic analysis, the product concept is selected to come up with an outline of how a product is being developed. The figure below show the stages of concept development of a product.
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.
Understanding Strategic Planning: What would you ask?Alex Goh
So lets say you wish to amp up your understanding on strategic planning. Now imagine you could ask a fellow Planner anything - what would you ask? The above is a compilation of 4 questions - from one Planner to another.
But it's but ONE way of answering those questions. How would you have answered differently?
Be it an alternative answer, or a new question, feel free to drop a comment below (or start your own Q&A) and see what kind of conversation ensues.
The Utility Stores Corporation (USC) of Pakistan is a State-owned enterprise that operates chain stores throughout the country whose main purpose is to provide basic commodities to the general public at lower prices than the open market.
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The Utility Stores' performance is declining day by day BECAUSE they aren’t able to manage their working capital properly.
Usama Shahid Khan, Pakistani Information System Engineer turned entrepreneur turned project manager, graduated from NUST.
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product specification process
1.Set Target Specifications
2.Refine Specifications
3.Reflect on Results
concept generation process
1. Clarify the Problem
2. External Search
3. Internal Search
4. Systematic Exploration
5. Reflect on the solutions
product specification process
1.Set Target Specifications
2.Refine Specifications
3.Reflect on Results
concept generation process
1. Clarify the Problem
2. External Search
3. Internal Search
4. Systematic Exploration
5. Reflect on the solutions
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How product concept and the product design specifications are important in the product development process
1. SUBJECT:
Product Design & Development (PDD)
ASSIGNMENT ON:
Product Development Process & Product Design Process
SUBMITTED TO:
Sir Kamleshwer Lohana
SUBMITTED BY:
Varda Shaikh _____18S-MBA-BS19
2. 1. How product concept and the product design specifications are
important in the product development process?
Product concept and product design specifications, both are initial stages in the product
development process. First to understand the definitions and basic purpose of these two:
Product concept is the understanding of the dynamics of the product in order to showcase
the best qualities and maximum features of the product.
o Importance & justification: As product concept is a detailed description of an idea,
which the firm going to propose and they have to describe the product from the
perspective of the customer, either they will accept it or not. This stage is time
consuming as the idea is developing and can be change according to the situation.
Marketers spend a lot of time and research in this stage in order to target their
attended audience.
Product design specification is a statement of how a design is made, what it is intended to
do, and how far it complies with the requirements.
o Importance & justification: product design specification is usually a design document
that describes all data, architectural, interface and component-level design in order to
make a product. A product design specification provides explicit information about
the requirements for a product and how the product is to be put together. It provides
critical defining information about a product and can include identification of the
manufacturer; a list of rules, bans and standards that apply to the item.
2. How do you see the evolution of the product description in the product
design process?
Product design process: the set of strategic and tactical activities, from idea generation to
commercialization, used to create a product design. In a systematic approach, product
designers conceptualize and evaluate ideas, turning them into tangible inventions and
products.
Product description: is the marketing copy that explains what a product is and why it's
worth purchasing. The purpose of a product description is to supply customers with details
around the features and benefits of the product so they're compelled to buy.
Evolution of product description: Product descriptions can make or break a sale. Choosing
the right set of words can compel the customers to make a purchase. As the online
purchasing is becoming a trend so the product description is becoming more critical and is
evaluating from time to time. Now customers attract to the fun part, where they find anything
that catches their attention. When writing the description, firms are now including fun
product slang that purchasers appreciate. And as no one has enough time to read a long
paragraph so the firms are now shifting their focus on the brief description. Including
valuable product care information, makes the firm more authentic in the eyes of customers.