This document discusses managing new product development from start to finish. It begins with generating ideas through interacting with employees, customers, and competitors. The next step is managing the idea screening process by evaluating technical feasibility, commercialization potential, and economic success. Concepts are then developed and tested on consumers. Various analytical tools like conjoint analysis are used. The development process is managed through prototyping and market testing. Finally, commercialization involves introducing the new product to market through a carefully planned launch campaign considering timing, location, target markets, and strategy. The entire process from concept to product launch must be effectively managed.

1. Managing
New Product Development
By – Mausumi Mohanta

2. Requires Management
Product Development

3. Starting With :
Ideas !!

4. Generating Ideas
With An Unbiased View And
Outside-in Perspective
Of Demand Opportunities

5. Create A Platform
For

6. • Interaction With Employees
• Interaction With Customers
• Studying Competitors
• Adopting Creativity
Techniques

7. Managing the Idea Screening Process

8. Overall Probability Of Product Success
Probability Of
Technical
Completion
*
Probability Of
Commercialization
Given Technical
Completion
*
Probability Of
Economic
Success Given
Commercialization

9. Managing Development
Of
Concept To Strategy

10. Consumers Buy product Concepts
Not Ideas

11. All Aspects of Product like
Brand-positioning, Product-positioning
Is Done By Concept Testing.

12. Conjoint Analysis -
A Popular Concept
And Development
Testing Tool.

13. What Is Conjoint Analysis ?
Deriving Utility Values That
Consumers Attach To varying Levels
Of Product Attributes.
ADA - Adaptive Conjoint Analysis

14. • Developing Market Strategy
• Doing Business Analysis
• Estimating the Total Sales
• Estimating the Costs, and
Profits

15. Managing the Development
Process: Development to
Commercialization

16. The Product Prototype is now
Introduced to the Customer
• Alpha testing
• Beta testing

17. Managing Market Testing
• Consumer-Goods Market Testing
- Estimate trial, first repeat,
adoption and Purchase frequency

18. Methods For Consumer-Goods
Market Testing
• Sales-Wave Research
• Simulated Test Marketing
• Controlled Test Marketing
• Test Markets

19. Managing Market Testing
• Business-Goods Market Testing
- Exposes unanticipated problems
of safety and servicing

20. Commercialization
The Process or/cycle of Introducing
A new Product or Service to the Market.

21. New product
Campaign Based on :
• When (Timing)
• Where(Geographic Strategy)
• To Whom (Target Market)
• How (Introductory Market
Strategy)

22. Company Needs To Manage
All Stages Of
New Product Development :
Conceptualization
to
Product Launch