New product rakesh (group 5)

Deepak DangiKritika Anand

Heena DuaYodhay Bhaskar

Rakesh KumarSameer Kulkarni

Mohit BinaniPRESENTATION BY

Categories of new product

Lower priced product/Cost

Reduction

Repositioned Product

Improvements/Revisions

Product line

Additions

New Product

line

New to the World

New-to-the-world

New product line

iMac iPod iPad

Apple TV

iTunes iPhone

iMac iphone iPad itune ipod Apple tv

iMac G3,1998 iPhone (1st generation),2007

iPad (1st generation),2010

Acquired in 2000 iPod, 2001 1st generation,2007

iMac G4,2002 iphone3G,2008

iPad 2,2011 itune 1.0,2001 Windows-compatible iPod, 2002 2nd generation,2010

iMac G5,2004 iphone3GS,2009

iPad (3rd generation),2012

itune u 2007 iPod mini, 2004 3rd generation,2012

Intel iMac (Polycarbonate),2006

iphone4,2010

iPad (4th generation),2012

imax iPod U2 Special Edition, 2004 3rd generation revised,2013

Intel iMac (Aluminum),2007

iphone4S,2011

iPad Air,2013 iPod shuffle, 2005

iMac Intel (Backlit) iphone5,2012

iPad Air 2,2014 iPod nano, 2005

iphone5C,2013

iPod with video, 2005

iphone5S,2013

Nike + iPod, 2006

iphone6,2014

iPod shuffle, 2006

iphone6Plus,2014

iPod nano, 2006

iPod touch, 2007

Product line Additions

Improvements/Revisions

Repositioned Product

You have done the hard work for developing your product and now its time to act smartly……

New Product that provide similar performance at lower cost

Lower priced product / Cost Reduction

Why New Product?

Market trends

Changes

New demands

Needs

NEW PRODUCT DEVELOPMENT PROCESS ?

Idea generation

New idea generation is the systematic search for new product ideas

Sources of new-product ideas Internal ExternalInternal sources refer to the company’s own formal

research and development, management and staff, and entrepreneurial programs

External sources refer to sources outside the company such as customers, competitors, distributors, suppliers, and outside design firms

Idea Screening

Idea screening refers to reviewing new-product ideas in order to drop poor ones as soon as possible

Evaluate the idea pool and reduce it to a smaller and more attractive set of potential new products.

Concept Development and Testing

Product idea is an idea for a possible product that the company can see itself offering to the market

Product concept is a detailed version of the idea stated in meaningful consumer terms

Product image is the way consumers perceive an actual or potential product

Business Analysis

Stage of the new-development process that calls for preparing initial marketing plans for the product

Business analysis involves a review of the sales, costs, and profit projections to find out whether they satisfy the company’s objectives

Prototype Development

Converting the concept into an actual product.

Prototype development involves the creation and testing of one or more physical versions by the R&D or engineering departments

• Requires an increase in investment

Test Marketing

Testing a new product and its marketing strategy in actual market situations

Test marketing is the stage at which the product and marketing program are introduced into more realistic marketing settings

Test marketing provides the marketer with experience in testing the product and entire marketing program before full introduction

Commercialization

The firm introduces the product on a full-scale basis, involving:

Understanding Consumer Adoption

Timing

Coordination

THANK YOU