This document discusses best practices for managing new product development processes. It outlines key steps including concept development and testing, prototyping, marketing strategy development, business analysis, product development through various testing phases, and commercialization strategies. The goal is to sustain growth and value through rigorous planning and evaluation of market needs, attributes, positioning, budgets, sales projections, and testing before full launch.

1. SUSTAINING GROWTH AND VALUE
What is the best
way to mange
new development
processes ?

2. Concept Development
and Testing

3. Project
ideas
“Naah !.Have
seen many
like these”
Project
Concepts
“Looks
Fresh”
Customers

7. Prototypes:
Rapid prototyping
Virtual reality

8. Communicability and
believability
Need level
Gap level
Perceived value
Purchase Intention
User targets, purchase
occasions and
purchasing frequency

9. The importance of each attribute level can be
calculated from the data.The farther attribute
levels are from each other within the same
category,the more important the difference to the
respondents.
Brand
Name
Packagin
g
Retail
price
Money
Back ?
Brand
score
Product
life
Warranty?

10. Marketing Strategy
Development

11. Target market’s size, structure and
behavior ;
The planned product positioning and
the sales, market share, and profit goals
sought in the first few years
The planned price, distribution strategy, and
Marketing budget for the first year
Long-run sales and profit goals and
Marketing mix stratgegy over time

12. Business Analysis

13. One-time purchased
product
Infrequently
purchased product
Frequently
purchased product

17. Product Development

19. Alpha
Testin
g
Beta
Testin
g

20. Market testing

21. Sales- Wave Research
Simulated Test Marketing
Controlled Test Marketing
Test Markets

22. Commercialization

23. First Entry
Parallel Entry
Late Entry

24. Market potential
Company’s local reputation
The cost of filling the pipeline
The cost of communication media
The influence of the area on other
areas and
Competitive penetration

25. Should be Early adopters
Heavy users and
Opinion leaders it can reach at low cost

26. Allocate sufficient time and
resources
Critical path scheduling

27. Image Credits:
(Flickr users)
Mingfong
le cabri