After studying this chapter you will be able to understand: New-product development strategy, new-product development process, managing new-product development, product life-cycle strategies, additional product and service considerations.
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Copyright © 2012 Pearson Education, Inc
LECTURE15
Trang 2§ New-Product Development Strategy
§ New-Product Development Process
§ Managing New-Product Development
§ Product Life-Cycle Strategies
§ Additional Product and Service
Considerations
• Topic Outline
Trang 3New-Product Development
Strategy
Acquisition refers to the buying of a whole
company, a patent, or a license to produce someone else’s product
New product development refers to
original products, product improvements, product modifications, and new brands
Trang 4New-Product Development
Process
Major Stages in New-Product Development
Trang 5New-Product Development
Process
Idea generation is the systematic search
for new-product ideasSources of new-product ideas
§ Internal
§ External
• Idea Generation
Trang 6New-Product Development
Process
Internal 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,
• Idea Generation
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Inviting broad communities of people—
customers, employees, independentscientists and researchers, and even thepublic at large—into the new-product
innovation process
• Crowd sourcing
•
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§ Identify good ideas and drop poor ideas
Trang 9New-Product Development
Process
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
• Concept Development and Testing
Trang 10New-Product Development Process
Concept testing refers to testing
new-product concepts with groups of target
consumers
• Concept Development and Testing
Trang 11New-Product Development
Process
§ Marketing strategy development refers
to the initial marketing strategy for introducing the product to the market
§ Marketing strategy statement includes:
§ Description of the target market
§ Value proposition
§ Sales and profit goals
• Marketing Strategy Development
Trang 12New-Product Development
Process
Business analysis involves a review of the
sales, costs, and profit projections to find out whether they satisfy the company’s objectives
• Marketing Strategy Development
Trang 13New-Product Development
Process
§ Involves the creation and testing of
one or more physical versions by the R&D or engineering departments
§ Requires an increase in investment
§ Shows whether the product idea can
be turned into a workable product
• Marketing Strategy Development
• Product development
Trang 14New-Product Development
Process
Test marketing is the stage
at which the product and marketing program are introduced into more realistic marketing settings
Provides the marketer with
• Marketing Strategy Development
Trang 15New-Product Development Process
• Marketing Strategy Development
Trang 16New-Product Development Process
• Types of Test Markets
Trang 17New-Product Development
Process
§ Advantages of simulated test markets
§ Less expensive than other test methods
§ Faster
§ Restricts access by competitors
§ Disadvantages
§ Not considered as reliable and accurate
• Marketing Strategy Development
Trang 18New-Product Development
Process
Commercialization is the introduction
of the new product
§ When to launch
§ Where to launch
§ Planned market rollout
• Marketing Strategy Development
Trang 20Managing New-Product
Development
Customer-centered new product
development new ways to solve
customer problems and create more customer satisfying
experiences
• New-Product Development Strategies
Trang 21Managing New-Product
Development
Team-based new-product development
Company departments work closely together in cross-functional teams, overlapping in the product-development process to save time and increase
effectiveness
• New-Product Development Strategies
Trang 22Managing New-Product
Development
Systematic new-product development
innovative development approach that
collects, reviews, evaluates, and manages new-product ideas
§ Creates an innovation-oriented culture
• New-Product Development Strategies
Trang 23Product Life-Cycle Strategies
• Product Life Cycle
Trang 24§ Slowdown in sales growth and profits level off or
Product Life-Cycle Strategies
Trang 25Product Life-Cycle Strategies
Trang 26Product Life-Cycle Strategies
§ Slow sales growth
§ Little or no profit
§ High distribution and promotion expense
• Introduction Stage
Trang 27Product Life-Cycle Strategies
§ Sales increase
§ New competitors enter the market
§ Price stability or decline to increase volume
§ Consumer education
§ Profits increase
• Growth Stage
Trang 28Product Life-Cycle Strategies
§ Slowdown in sales
§ Many suppliers
§ Substitute products
§ Overcapacity leads to competition
§ Increased promotion and R&D to
• Maturity Stage
Trang 29Product Life-Cycle Strategies
Trang 30Product Life-Cycle Strategies
§ Maintain the product
§ Harvest the product
§ Drop the product
• Decline Stage
Trang 31Additional Product and Service
Considerations
Public policy and regulations regarding developing
and dropping products, patents, quality, and safety
• Product Decisions and Social Responsibility
Trang 32Additional Product and Service Considerations
§ Determining what products
and services to introduce
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Bibliography
§ Principles of Marketing by Philip Kotler & Gary Armstrong Fifteenth Edition, Published by Prentice Hall
by Philip Kotler, Kevin Lane Keller, Abraham Koshy &
Mithileshwar Jha, 13th Edition, Published by Pearson
Education, Inc.
§ Principles and Practices of Marketing by Jobber, D 4th edition, McGraw Hill International.
Trang 34The End
“Don’t say you don’t have enough time You have the same number of hours per day
as Helen Keller, Michelangelo, Mother Theresa, Leonardo da