This document discusses the process of developing new market offerings and products. It covers the challenges companies face in new product development, including organizational structures used and the main stages of development. The stages include idea generation, screening, concept development and testing, marketing strategy development, and development to commercialization. Key aspects of managing the development process at each stage are also outlined.
MEANING
• In simple terms, Sales Management means management of selling activities of an organization. • According to the American Marketing association, sales management is ,” the planning, direction, and control of personal selling, including recruiting, selecting, equipping, assigning, routing, supervising paying and motivating as these tasks apply to the personal sales force.”
The presentation describes the perceptual process of consumers. It also briefly discusses the marketing implications of the perception. The slides also contain a quick class activity and possible assignment for students. With multiple examples, the presentation is an easy-to-use class teaching material.
Theories of Selling
1. AIDAS” theory
2.“Right set of circumstances” theory
3.“Buying-formula” theory
4.“Behavioural equation” theory
Securing Attention
Gaining Interest
Inducing Actions:
J.A Howard
Non-triggering cues
Triggering cues:
Informational cues
A Reinforcement
Specific product information cues
MEANING
• In simple terms, Sales Management means management of selling activities of an organization. • According to the American Marketing association, sales management is ,” the planning, direction, and control of personal selling, including recruiting, selecting, equipping, assigning, routing, supervising paying and motivating as these tasks apply to the personal sales force.”
The presentation describes the perceptual process of consumers. It also briefly discusses the marketing implications of the perception. The slides also contain a quick class activity and possible assignment for students. With multiple examples, the presentation is an easy-to-use class teaching material.
Theories of Selling
1. AIDAS” theory
2.“Right set of circumstances” theory
3.“Buying-formula” theory
4.“Behavioural equation” theory
Securing Attention
Gaining Interest
Inducing Actions:
J.A Howard
Non-triggering cues
Triggering cues:
Informational cues
A Reinforcement
Specific product information cues
Product Management 101: #1 How To Create Products Customer Love.Jean-Yves SIMON
An introduction to Product Management, for people involved in technology or software companies. Mainly aimed at evangelizing the role and responsibilities across an organization.
This is the #1 presentation out of a serie of 10 sessions.
Special thanks to Marty Cagan @ SVPG for the title :)
The Butterfly Principle for Product Management by GameBench CEOProduct School
Startups have changed the way technology companies perceive product management. Experimentation and application of lean principles are no longer just for startups. Large enterprises want to cultivate a startup mindset and mimic such an environment.
So what’s the startup product mindset? How does obsession with a customer problem help startups succeed? And what makes them fail?
Sri shared his experiences and real examples around customer-centric and pragmatic product management that gives enterprises an edge over their competitors. He discussed the butterfly principle in product creation and how it helps create products customer love.
Agility In Innovation - Delivering Breakthrough ProductsNils Davis
We at Accept Software, along with some industry analysts like Forrester Research’s Dave West and Roy Wildeman, are seeing a need to reduce product development and delivery risks, and improve quality and market satisfaction, using what they have dubbed “Agile Value Management” – analytically evaluating product tradeoffs not only continuously during execution, as in agile, but from the very start of the product planning process.
In this presentation I talk about some concepts in product planning and agile software development that may be new for you, even if you are already familiar with agile methodologies.
This presentation was given at the AIPMM's Product Management Education Conference on 17 November 2006 in San Jose.
The Importance of Product Validation by RetailMeNot Dir. of PMProduct School
Product vision and strategy are key components to empowering teams to act with any meaningful degree of autonomy. But is an inspiring vision and an intentional product strategy enough to guarantee success?
Any Product Manager worth her salt knows that product validation is critical to building a successful product. And yet, product validation may be one of the hardest things you'll ever do in your career. During her talk, Laura shared insights on a product validation framework that will help Product Managers avoid the most common hypothesis pitfalls, learn more about their customers, and improve and refine their ideas along the way.
In the Adani-Hindenburg case, what is SEBI investigating.pptxAdani case
Adani SEBI investigation revealed that the latter had sought information from five foreign jurisdictions concerning the holdings of the firm’s foreign portfolio investors (FPIs) in relation to the alleged violations of the MPS Regulations. Nevertheless, the economic interest of the twelve FPIs based in tax haven jurisdictions still needs to be determined. The Adani Group firms classed these FPIs as public shareholders. According to Hindenburg, FPIs were used to get around regulatory standards.
FIA officials brutally tortured innocent and snatched 200 Bitcoins of worth 4...jamalseoexpert1978
Farman Ayaz Khattak and Ehtesham Matloob are government officials in CTW Counter terrorism wing Islamabad, in Federal Investigation Agency FIA Headquarters. CTW and FIA kidnapped crypto currency owner from Islamabad and snatched 200 Bitcoins those worth of 4 billion rupees in Pakistan currency. There is not Cryptocurrency Regulations in Pakistan & CTW is official dacoit and stealing digital assets from the innocent crypto holders and making fake cases of terrorism to keep them silent.
Event Report - SAP Sapphire 2024 Orlando - lots of innovation and old challengesHolger Mueller
Holger Mueller of Constellation Research shares his key takeaways from SAP's Sapphire confernece, held in Orlando, June 3rd till 5th 2024, in the Orange Convention Center.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
We will dig deeper into:
1. How to capture video testimonials that convert from your audience 🎥
2. How to leverage your testimonials to boost your sales 💲
3. How you can capture more CRM data to understand your audience better through video testimonials. 📊
buy old yahoo accounts buy yahoo accountsSusan Laney
As a business owner, I understand the importance of having a strong online presence and leveraging various digital platforms to reach and engage with your target audience. One often overlooked yet highly valuable asset in this regard is the humble Yahoo account. While many may perceive Yahoo as a relic of the past, the truth is that these accounts still hold immense potential for businesses of all sizes.
Understanding User Needs and Satisfying ThemAggregage
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
Industry expert Scott Sehlhorst will:
• Introduce a taxonomy for user goals with real world examples
• Present the Onion Diagram, a tool for contextualizing task-level goals
• Illustrate how customer journey maps capture activity-level and task-level goals
• Demonstrate the best approach to selection and prioritization of user-goals to address
• Highlight the crucial benchmarks, observable changes, in ensuring fulfillment of customer needs
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
An introduction to the cryptocurrency investment platform Binance Savings.Any kyc Account
Learn how to use Binance Savings to expand your bitcoin holdings. Discover how to maximize your earnings on one of the most reliable cryptocurrency exchange platforms, as well as how to earn interest on your cryptocurrency holdings and the various savings choices available.
3. Chapter Objectives
In this chapter, we focus on the following
questions:
What challenges does a company face in
developing new products?
What organizational structures are used to
manage new-product development?
new-
What are the main stages in developing new
products, and how can they be managed
better?
What factors affect the rate of diffusion and
consumer adoption of newly launched
products?
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4. Developing New Market
Offerings
Six categories of new products
1. New-to-the-world products
2. New product lines
3. Additions to existing product lines
4. Improvements and revisions of existing
products
5. Repositioning
6. Cost reductions
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5. Challenges in New-Product
Development
Incremental innovation
Disruptive technologies
Why do new products fail?
A high-level executive pushes a favorite idea
high-
through in spite of negative research
findings.
The idea is good, but the market size is
overestimated.
The product is not well designed.
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6. Challenges in New-Product
Development
The product is incorrectly positioned
in the market, not advertised
effectively, or overpriced.
The product fails to gain sufficient
distribution coverage or support.
Development costs are higher than
expected.
Competitors fight back harder than
expected.
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7. Challenges in New-Product
Development
Factors that tend to hinder new-product
new-
development
Shortage of important ideas in certain areas
Fragmented markets
Social and governmental constraints
Cost of development
Capital shortages
Faster required development time
Shorter product life cycles
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8. Organizational Arrangements
New-
New-product deployment requires specific
criteria – one company established the
following acceptance criteria
The product can be introduced within five years
The product has a market potential of at least
$50 million and a 15 percent growth rate.
The product would provide at least 30 percent
return on sales and 40 percent on investment.
The product would achieve technical or market
leadership.
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9. Organizational Arrangements
Budgeting For New Product
Development
3M’s approach:
15% rule
Each promising idea gets an
“executive champion”
Expect some failures
Golden Step awards handed out
each year
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10. 3M online: The 3M Innovation Network
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11. Table 12.1 Finding One Successful New Product
(Starting with 64 New Ideas)
Number Pass Cost per
Stage of Ideas Ratio Product Idea Total Cost
1. Idea screening 64 1:4 $ 1,000 $ 64,000
2. Concept testing 16 1:2 20,000 320,000
3. Product 8 1:2 200,000 1,600,000
development
4. Test marketing 4 1:2 500,000 2,000,000
5. National launch 2 1:2 5,000,000 10,000,000
$5,721,000 $13,984,000
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12. Organizational Arrangements
Organizing New-Product Development
New-
Product managers
New-
New-product managers
High-
High-level management committee
New product department
Venture teams
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13. Organizational Arrangements
Stage-
Stage-gate system
Gatekeepers make one of
four decisions:
Go
Kill
Hold
Recycle
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14. Managing the Development
Process: Ideas
Idea Generation
Interacting with Others
Sales representatives
Intermediaries
Product champion
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15. Managing the Development
Process: Ideas
Techniques for stimulating creativity
in individuals and groups
Attribute listing
Forced relationships
Morphological analysis
Reverse assumption analysis
New contexts
Mind-
Mind-mapping
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16. Managing the Development
Process: Ideas
Idea Screening
Idea manager
Idea committee
Two types of errors in
screening ideas
DROP-
DROP-error
GO-
GO-error
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17. Some of the most notable “drop-errors” have
“drop-
come from the most recognizable names in
American business. Xerox saw the potential
of the copy machine, IBM and Eastman
Kodak did not. IBM thought the personal
computer market would be miniscule.
Can you think of any
“drop-
“drop-errors” that the
company didn’t survive?
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18. Table 12.2 Product-Idea Rating Device
Relative Product Product
Weight Score Rating
Product Success Requirements (a) (b) (c = a x b)
Unique or superior product .40 .8 .32
High performance to cost ratio .30 .6 .18
High marketing dollar support .20 .7 .14
Lack of strong competition .10 .5 .05
Total 1.00 .69σ
σ .00-
Rating scale: .00-.30 poor; .31-.60 fair; .61-.80 good. Minimum acceptance rate: .61
.31- .61-
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19. Managing the Development
Process: Concept to Strategy
Concept Development and Testing
Product idea
Product concept
Concept development
Category concept
Product–
Product–positioning map
Brand concept
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21. Sometimes a new product is developed, like
the felt-tip pen and the “walkman” style
felt-
personal music device. Consumers weren’t
clamoring for either of these products before
they came to market. Most people hadn’t
even conceived of such an item. Careful
planning developed markets
for these new lines. Can you
think of more recent
examples? www.bookfiesta4u.blogspot.com
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22. Managing the Development
Process: Concept to Strategy
Concept Testing
Rapid prototyping
Virtual reality
Customer-
Customer-driven engineering
Questions to measure product dimensions
Communicability and believability
Need level
Gap level
Need-
Need-gap score
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23. Managing the Development
Process: Concept to Strategy
Perceived value
Purchase intention
User targets, purchase occasions, purchasing
frequency
Conjoint Analysis
Example: five design elements
Three package designs
Three brand names
Three prices
Possible Good Housekeeping seal
Possible money-back guarantee
money-
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24. Managing the
Development Process:
Concept to Strategy
Marketing Strategy
Business Analysis
Estimating Total Sales
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25. Managing the Development
Process: Concept to Strategy
Survival-
Survival-age distribution
Estimating Cost and Profits
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26. Table 12.3 Projected Five-Year-Cash-Flow
Statement (in thousands of dollars)
Year 0 Year 1 Year 2 Year 3
1. Sales revenue $ 0 $11,889 $15,381 $19,654
2. Cost of goods sold 0 3,981 5,150 6,581
3. Gross margin 0 7,908 10,231 13,073
4. Development costs -3,500 0 0 0
5. Marketing costs 0 8,000 6,460 8,255
6. Allocated overhead 0 1,189 1,538 1,965
See text for complete table
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28. Managing The Development Process:
Development to Commercialization
Product Development
Quality Function Deployment (QFD)
Customer attributes (CAs)
Engineering
attributes (EAs)
Lands’ End
Japan Web site
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29. Managing The Development
Process: Development to
Commercialization
Customer tests
Alpha testing
Beta testing
Consumer preference measures
Rank-
Rank-order
Paired-
Paired-comparison
Monadic-
Monadic-rating
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30. Managing The Development
Process: Development to
Commercialization
Market Testing
Consumer-
Consumer-Goods Market Testing
Seeks to estimate four variables
Trial
First repeat
Adoption
Purchase frequency
Sales wave research
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31. Managing The Development
Process: Development to
Commercialization
Simulated Test Marketing
Controlled Test Marketing
Test Markets
How many test cities?
Which cities?
Length of test?
What information?
What action to take?
Business-
Business-Goods Market Testing
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32. Managing The Development Process:
Development to Commercialization
Commercialization
When (Timing)
1. First entry
2. Parallel entry Philips’ Pronto Web site
3. Late entry
Where (Geographic
Strategy)
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33. Managing The Development Process:
Development to Commercialization
To Whom (Target-Market Prospects)
(Target-
How (Introductory Market Strategy)
Critical path scheduling (CPS)
The iMac, launched with
a dramatic countdown
campaign
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34. The Consumer-Adoption
Process
Adoption
Consumer-
Consumer-adoption process
Consumer-
Consumer-loyalty process
Mass-
Mass-market approach
Heavy-
Heavy-usage target marketing
Stages in the Adoption Process
Innovation
Innovation diffusion process
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35. The Consumer-Adoption
Process
Adopters of new products move
through five stages
Awareness
Interest
Evaluation
Trial
Adoption
Factors Influencing the Adoption Process
Readiness to Try New Products and
Personal Influence
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36. Figure 12.7: Adopter Categorization on the Basis of
Relative Time of Adoption of Innovation
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37. The Consumer-Adoption
Process
Personal influence
Characteristics of the Innovation
Relative advantage
Compatibility
Complexity
Divisibility
Communicability
Organizations’ Readiness to Adopt
Innovations
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