Presented To: Mam Amara Presented By:
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Presented To: Mam Amara
Presented By: Muhammad Faisal Rao
BS(IT)4th Roll No.07-49
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What are the objectives of the new product development process?
What are the different stages in new product development?
What are some ways to increase the efficiency of the NPD process?
How might NPD differ over the different stages of the industry life-cycle?
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Maximize fit with customer requirementsValue proposition should be clear
Better features or lower costs
Minimize development cycle timeFirst mover advantagesReduced costs
Controlling development costsHigher margins
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Employees
Customers (users)
Suppliers
Competitors/Complementors
Ideas often evolve due to interaction among the above groups
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3. Business Analysis3. Business Analysis
1. Idea1. IdeaGenerationGeneration
2. Idea2. IdeaScreeningScreening
4. Development4. Development5. Test marketing5. Test marketing
6. Commercialization6. Commercialization
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3. Business Analysis3. Business Analysis
1. Idea1. IdeaGenerationGeneration
2. Idea2. IdeaScreeningScreening
4. Development4. Development5. Test marketing5. Test marketing
6. Commercialization6. Commercialization
Employees, customers, suppliers, competitors
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3. Business Analysis3. Business Analysis
1. Idea1. IdeaGenerationGeneration
2. Idea2. IdeaScreeningScreening
4. Development4. Development5. Test marketing5. Test marketing
6. Commercialization6. Commercialization
Many -- employees, customers, suppliers, distributors, competitors
Reduce # quickly
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3. Business Analysis3. Business Analysis
1. Idea1. IdeaGenerationGeneration
2. Idea2. IdeaScreeningScreening
4. Development4. Development5. Test marketing5. Test marketing
6. Commercialization6. Commercialization
Many -- employees, customers, suppliers, distributors, competitors
Reduce # quickly
S/F/C criteria; decision making under uncertainty
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3. Business Analysis3. Business Analysis
1. Idea1. IdeaGenerationGeneration
2. Idea2. IdeaScreeningScreening
4. Development4. Development5. Test marketing5. Test marketing
6. Commercialization6. Commercialization
Many -- employees, customers, suppliers, distributors, competitors
Reduce # quickly
S/F/C criteria; decision making under uncertainty
Processes for reducing costs
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3. Business Analysis3. Business Analysis
1. Idea1. IdeaGenerationGeneration
2. Idea2. IdeaScreeningScreening
4. Development4. Development5. Test marketing5. Test marketing
6. Commercialization6. Commercialization
Many -- employees, customers, suppliers, distributors, competitors
Reduce # quickly
S/F/C criteria; decision making under uncertainty
Processes for reducing costs
Experiment with small numbers
Launch new product!!
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Test Marketing
StandardTest Market
Introduction in a small market supported by a full-fledged marketing campaign
14Time
Do
llar
s
Introduction Growth Maturity DeclineIntroduction Growth Maturity Decline
IndustryIndustry SalesSales
IndustryIndustry ProfitsProfits
0
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New product development is risky, but can provide high returnsNot engaging in NPD will surely result in
failureManaging the various stages of the NPD
process is critical
Starts with Positioning Target Benefit(s) Frame of Reference Support
Sales Plan – Who will sell it, where will it be sold? Advertising Media Plan – How will we advertise it? Promotion Plan – Consumer promotion (coupons), Trade
promotion (on-sale) Production Plan – How will we make it?
Plants Lines
Financial Plan – How do we make the profit necessary to satisfy our share holders? Fixed Costs - Capital investment, overhead Variable Costs – Cost to produce – ingredients, packaging, distribution Breakeven/Targeted Return on Investment
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