Managing new product development

1. Managing
New Product Development
By – Mausumi Mohanta

2. Requires Management
Product Development

3. Starting With :
Ideas !!

4. Generating Ideas
With An Unbiased View And
Outside-in Perspective
Of Demand Opportunities

5. Create A Platform
For

6. • Interaction With Employees
• Interaction With Customers
• Studying Competitors
• Adopting Creativity
Techniques

7. Managing the Idea Screening Process

8. Overall Probability Of Product Success
Probability Of
Technical
Completion
*
Probability Of
Commercialization
Given Technical
Completion
*
Probability Of
Economic
Success Given
Commercialization

9. Managing Development
Of
Concept To Strategy

10. Consumers Buy product Concepts
Not Ideas

11. All Aspects of Product like
Brand-positioning, Product-positioning
Is Done By Concept Testing.

12. Conjoint Analysis -
A Popular Concept
And Development
Testing Tool.

13. What Is Conjoint Analysis ?
Deriving Utility Values That
Consumers Attach To varying Levels
Of Product Attributes.
ADA - Adaptive Conjoint Analysis

14. • Developing Market Strategy
• Doing Business Analysis
• Estimating the Total Sales
• Estimating the Costs, and
Profits

15. Managing the Development
Process: Development to
Commercialization

16. The Product Prototype is now
Introduced to the Customer
• Alpha testing
• Beta testing

17. Managing Market Testing
• Consumer-Goods Market Testing
- Estimate trial, first repeat,
adoption and Purchase frequency

18. Methods For Consumer-Goods
Market Testing
• Sales-Wave Research
• Simulated Test Marketing
• Controlled Test Marketing
• Test Markets

19. Managing Market Testing
• Business-Goods Market Testing
- Exposes unanticipated problems
of safety and servicing

20. Commercialization
The Process or/cycle of Introducing
A new Product or Service to the Market.

21. New product
Campaign Based on :
• When (Timing)
• Where(Geographic Strategy)
• To Whom (Target Market)
• How (Introductory Market
Strategy)

22. Company Needs To Manage
All Stages Of
New Product Development :
Conceptualization
to
Product Launch