New product Development2

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    New product

    Development

    New product

    Development

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    6000 BC:camel carvan(speed-

    8miles/hr)

    1600 BC: Chariot(Speed-20mph)

    1784 AD: Rail engine(Spped-

    10mph)

    1880 AD: Steam

    Locomotive(100mph)

    1939: Aeroplane(400mph)

    1959: -Do- 800m h

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    When is a new product

    new 1.New Technology

    2.New Innovations

    3.New to the market

    4.New to the country

    4.New category to thecompany

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    5.New Brand

    6.New channels of distribution

    7.New Package

    8.New to a product line

    9.Repositioning

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    New product

    Introduction It will double because:

    Technological advance-90%

    Changing consumer need-

    72%

    Shortening PLC-55%

    Increasing foreign market

    access-53%

    Increasing foreign competition-

    48%

    Increasing labour cost-35%

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    Govt. Regulations-35%

    Increasing costs-18%

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    IdeaIdea

    GenerationGeneration

    ConceptConceptDevelopmentDevelopmentand Testingand Testing

    MarketingMarketingStrategyStrategy

    DevelopmentDevelopment

    IdeaIdeaScreeningScreening

    BusinessBusinessAnalysisAnalysis

    ProductProductDevelopmentDevelopment

    MarketMarketTestingTesting

    CommercializationCommercialization

    New Product

    Development Process

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    New Product

    Development Process

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    1.Idea Generation

    Sources-Customers

    Channel Intermediaries

    EmployeesCompetitors

    Top Mgmt.

    Ad Agencies

    Marketing Research Firms

    Publications

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    Techniques:

    Attribute Listing

    Forced relationship (Trigger

    Response)

    Morphological Analysis

    Need/Problem Identification Brain storming

    Synectics

    Checklist

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    2.Concept Generation &

    Evaluation

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    Concept Development

    & Testing1. Develop Product Ideas into

    Alternative Product Concepts

    2. Concept Testing - Test the ProductConcepts with Groups of Target Customers

    3. Choose the Best One

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    Idea vs Concept:

    Attribute+Benefit(S)=Product

    concept

    Form Technology

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    Concept Development

    Techniques:

    1.Attribute Analysis

    Dimensinal Analysis

    Check List

    Gap AnalysisTrade off Analysis

    Benefit Analysis

    contd.

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    Function Analysis

    Use AnalysisAttribute Extension

    Relative Brand profilePseudo product test

    System Analysis

    contd.

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    Unique Properties

    Hierarchial DesignWeakness

    Achilles

    Hill

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    2.Relationship Analysis

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    Consumer-Goods Market

    Testing

    Sales-Wave

    ResearchTest offering trail to

    a sample ofconsumers in

    successive

    periods.

    Sales-Wave

    ResearchTest offering trail to

    a sample ofconsumers in

    successive

    periods.

    SimulatedTest Market

    Test in a simulatedshopping environment

    to a sample ofconsumers.

    SimulatedTest Market

    Test in a simulatedshopping environment

    to a sample ofconsumers.

    Standard

    Test MarketFull marketing campaign

    in a small number ofrepresentative cities.

    Standard

    Test MarketFull marketing campaign

    in a small number ofrepresentative cities.

    ControlledTest Market

    A few stores that haveagreed to carry newproducts for a fee.

    ControlledTest Market

    A few stores that haveagreed to carry newproducts for a fee.

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    Commercialization

    When

    Where

    W

    hom

    Product

    Price

    PlacePromotion

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    2 1/2%

    Innovators13 1/2%

    Early

    adopters

    34%

    Early

    majority

    34%

    Late

    majority

    16%

    Laggards

    Time of adoption of innovations

    the Basis of

    Relative Time of Adoption of

    Innovations

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