The document discusses the process of concept development and testing for new products. It involves presenting product concepts to target customers to get reactions, developing marketing strategies, estimating sales and profits, creating physical prototypes, and market testing. The goal is to translate customer requirements into working prototypes and test concepts before commercialization to ensure the product meets customer needs and will be profitable.

2. CONCEPT DEVELOPMENT
CUSTOMER DON’T BUY
PRODUCT IDEAS.
Customer
buy
product
concepts

3. PERCEPTUAL MAPS

4. CONCEPT TESTING
Presenting product concepts, symbolically or physically,
to target customer & getting their reactions

5. CONCEPT TESTING
•PROTOTYPING
•SIMULATION

6. CONCEPT TESTING
•COMMUNICABILITY & BELIEVABILITY
•NEED LEVEL & GAP LEVEL
•PERCEIVED VALUE
•PURCHASE INTENTION

7. CONJOINT ANALYSIS
3 Package design 3 Prises Money back?
3 brand names House keeping seal

8. MARKETING
STRATEGY
DEVELOPMENT

9. 3PARTS OF MARKETING STRATEGY PLAN
Target markets size, structure & behaviour;
Product positioning & Sales.
Outline planned prise, Distribution strategy &
Marketing budget
Long run sales & profit goals & marketing mix
strategy

10. BUSINESS ANALYSIS

11. ESTIMATING TOTAL SALES
->First time sales & replacement sales
->Frequently purchased new product
->First time purchase of product

12. BREAKEVEN ANALYSIS
•UNITS TO BE SOLD

13. RISK ANALYSIS
•OPTIMISTIC
•PESSIMISTIC

15. PRODUCT DEVELOPMENT
Quality function
Deployment helps to
translate the customer
requirements in to working
prototypes

16. PHYSICAL PROTOTYPES
•TO FIND PROTOTYPES THAT EMBODIES
KEY ATTRIBUTES IN PRODUCT
CONCEPT
•PERFORM SAFELY UNDER NORMAL USE
•PRODUCED WITHIN BUDGETED
MANUFACTURING COST

17. CUSTOMER TESTS
•ALPHA TEST
•BETA TEST

19. CONSUMER GOODS MARKET TESTING
•TRIAL
•FIRST REPEAT
•ADOPTION
•PURCHASE FREQUENCY

20. •SALES WAVE RESEARCH
•SIMULATED TEST MARKETING
•CONTROLLED TEST MARKETING
•TEST MARKETS

22. WHEN (TIMING)
•FIRST ENTRY
•PARALLEL ENTRY
•LATE ENTRY

23. WHERE (GEOGRAPHIC STRATEGY)
• ATTRACTIVE CITIES
• REGION
• WEBSITE
Depends on:
-Market Potential
-Company reputation
-Cost of communication
-influence

24. TO WHOM (TARGET MARKET PROSPECTS)
•EARLY ADOPTER
•HEAVY USER
•OPINION LEADERS

25. HOW (INTRODUCTORY MARKET STRATEGY)
•SUFFICIENT TIME & RESOURCE
•CRITICAL PATH SCHEDULING

26. RECAP:
• CONCEPT DEVELOPMENT
• CONCEPT TESTING
• CONJOINT ANALYSIS
• MARKETING STRATEGY DEVELOPMENT
• BUSINESS ANALYSIS
• PRODUCT DEVELOPMENT
• PHYSICAL PROTOTYPING
• MARKET TESTING
• COMMERCIALISATION

27. CREDITS:
• WWW.GOOGLE.COM
• WWW.FLICKR.COM

28. CREATED BY: ISHWARKUMAR TEGGI,
SIDDAGANGAINSTITUTEOF TECHNOLOGY,TUMAKURU
DURINGANMARKETINGINTERNSHIPBY
PROF. SAMEER MATHUR,
IIM LUCKNOW.
(SEE-WWW.IIMINTERNSHIP.COM)