The Critical Role of Sales Throughout the New Product Development Process
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The sales team has a critical role at every stage of the NPD process. So does product marketing. These roles are very different and each crucial to the ultimate product commercialization success in the marketplace.
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The Critical Role of Sales Throughout the New Product Development Process
- 1. WHERE’S SALES IN YOUR NPD PRCESS? CHANNELINSTINCTS.COM The New Product Development Process from a Sales & Marketing roles standpoint.
- 2. Design Milestone 1 Milestone 2 Milestone 3 Milestone 4 Milestone 5 Milestone 6 Ideation Concept Generation Implementation Audit Production Customer Needs Market Research Competitive Analysis Features / Benefits SKU Count Preliminary Timeline Models/rendering Focus Groups Concept Selection Supply Chain Quality Plan Detailed Design Verification Patents Costing Project Schedule Packaging Mfg / QC Plan Tooling Estimates Communications Checklist Supply Chain Machinery / Tool First Articles Customer Service Training Sample Books Pilot Production Run Production Verification testing Sales Communication Launch Financial Audit Customer Satisfaction NPD Process Audit NEW PRODUCT DEVELOPMENT PROCESS – MARKETING
- 3. Ideation Identify Customer Needs Market Research Competitive Analysis Features / Benefits SKU Count Preliminary Timeline PDR Involvement − Reality Check / Sales Feedback − Retail Landscape Co-development Opportunities? Account Needs Sales / Account Management Marketing / R&D NEW PRODUCT DEVELOPMENT PROCESS – IDEATION / GAP ANALYSIS
- 4. PDR Involvement Question: Innovative or Derivative Mod. / “Me Too” Product? − Innovative: Hold over to Design Phase − “Me Too”: Preliminary Meeting to gauge interest More closely identify Account Needs and Priorities Help define merchandising plan Sales / Account Management Concept Generation Models / Rendering Focus Groups Concept Selection Supply Chain Quality Plan Marketing / R&D NEW PRODUCT DEVELOPMENT PROCESS – CONCEPT GENERATION
- 5. Sales / Account Management Detailed Design Verification Patents Costing Project Schedule Formal Meeting with Customer − Customer feedback on product − Confirm customer interest & intentions (if pricing can be confirmed, Formalize Commitment) − Quantify size of opportunity / soft timing − Potential risks to existing business / swap-outs or buyback cost − Pricing Range Refine Merchandising Concept Demand Planning Design Mfg/QC Plan Tooling Estimates Communications Checklist Supply Chain Packaging Marketing / R&D NEW PRODUCT DEVELOPMENT PROCESS – CONCEPT GENERATION
- 6. Sales / Account Management Finalize Pricing and ensure Product Profitability Formal Commitments from Buyer and Merchandising Vice President / GMM on: − Dates / Timing of Launch − Quantities − Launch Plan / Advertising & Merchandising Plan − Customer Support if warranted − Logistics / Operations Communication Machinery / Tooling First Articles Customer Service Training Sample Books Implementation NEW PRODUCT DEVELOPMENT PROCESS – IMPLEMENTATION Marketing / R&D
- 7. Sales / Account Management Final Sample to Customer Reconfirm Commitments Secure Orders Field Communications / PK / Sell Sheets Pilot Production Run Production Verification Testing Sales Communication Launch Production Marketing / R&D NEW PRODUCT DEVELOPMENT PROCESS – PRODUCTION
- 8. Sales / Account Management Flawless In-store Execution Monitor POS Communicate Results – both positive and negative to Account and Division − Develop corrective action plan with marketing if needed Creative Merchandising Ideas Financial Audit Customer Satisfaction NPD Process AuditAudit Marketing / R&D NEW PRODUCT DEVELOPMENT PROCESS – AUDIT
- 9. Design Ideation Concept Generation Implementation Audit Production NEW PRODUCT DEVELOPMENT PROCESS – ACCOUNT MANAGEMENT PDR Involvement − Reality Check / Sales − Feedback − Retail Landscape Co-development Opportunities? Customer Needs PDR Involvement Question: Innovative or Derivative Mod. / “Me Too” Product? − Innovative: Hold over to Design Phase − “Me Too”: Preliminary Meeting to gauge interest More closely identify account need and priorities Help define merchandising plan Formal Meeting with Customer − Account feedback on product − Confirm Account interest & intentions (if pricing can be confirmed, formalize commitment) − Quantify size of opportunity / soft timing − Potential Risks to existing business / swap-out or buyback costs − Pricing Range Refine Merchandising Concept Demand Planning Finalize Pricing & ensure Product Profitability Formal Commitments from Buyer & MVP on: − Dates / Timing of Launch − Quantities − Launch Plan / Advertising & Merchandising Plan − Account Support if warranted − Logistics/Operations Communication Final Sample to Customer Reconfirm Commitments Secure Orders Field Communications / PK / Sell Sheets Flawless In-store Execution Monitor POS Communicate Results both positive and negative to customer and business − Develop corrective action plan with marketing if needed Creative Merchandising Ideas Milestone 1 Milestone 2 Milestone 3 Milestone 4 Milestone 5 Milestone 6
- 10. 10 CHANNELINSTICTS [ Accelerating the path between ideas & actions ] CHANNELINSTINCTS.COM Greg Bonsib is a marketing expert and consultant who has worked with sales and marketing teams at companies such as Newell Rubbermaid, Owens Corning, Zenith Products, SentrySafe and others to successfully launch new products and programs that grew both the top and bottom lines. Greg’s thoughts and insights on marketing can be found at channelinstincts.com. He can be reached at greg@channelinstincts.com.