Stages in new product and service development

1. Stages In New Product
And Service Development
- BY MAUSUMI MOHANTA

2. Successful new-product development
goes through a lot of stages before
reaching the market.

3. 8 Stages
Of New Product Development

4. Idea Generation

5. New-product Ideas Come From
- Interacting With Various Groups
- Using Creativity Generation Techniques

6. • Encouraging Interaction With
-Customers -Employees
-Others
The Open Innovation Movement

7. Techniques For Simulating Creativity :
• Attribute Listing
• New Contexts
• Mind Mapping
• Forced Relationships
• Morphological Analysis
• Reverse Assumption Analysis

8. Idea Screening

9. Idea Screening Used To
Avoid DROP-error
-Dismissing a good idea
- Continuing with a poor idea

10. Ideas Are Reviewed Against A Set Of Criteria

11. Concept Development
And Testing

12. What Is A Product Concept ?
An Elaborated Version Of the Idea Expressed
In Consumer Terms

13. Concept Testing :
Presenting The Product Concept, Symbolically
Or Physically, to Target Consumers And
Getting Their Reactions.

14. Marketing Strategy
Development

15. Three-part Strategy Plan :
• Describe the target market-size,
Structure, and Behaviour
• The Planned Product Positioning and
Marketing Budget
• The long-run sales, profit goals
and marketing-mix strategy

16. Business Analysis

17. Before development stage,
the Proposal’s Business Attractiveness
needs to be verified by
- Estimating Total sales
- Estimating Costs
And Profits

18. Product Development

19. Till now the product existed as a Word
Description, now it is brought to life.

20. Quality Function Deployment :
QFD, a set of methods that help translate
target Customers requirements into
working prototypes.

21. Market Testing

22. Product is now ready to branded with
A name, Logo, and Packaging, then
launched in the market.
*Consumer-Goods Market Testing
*Business-Goods Market Testing

23. Commercialization

24. Final Stage –
Process or/Cycle of introducing the new
product to market

25. 1 • Idea Generation
2 • Idea Screening
3 • Concept Development
4 • Marketing Strategy Development
5 • Business Analysis
6 • Product Development
7 • Market Testing
8 • Commercialization
8 Stages Of
Product
Development

26. Thank You !!