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The New Product Development Process

The New Product Development Process. Marketing 4250 January 25, 2007. Stage I: Opportunity Identification and Selection. Opportunity Identification. Motivators of the NPD Process Formal Corporate Structures Underutilized Resources New Resources Internal Mandates External Mandates.

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The New Product Development Process

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  1. The New Product Development Process Marketing 4250 January 25, 2007

  2. Stage I: Opportunity Identification and Selection

  3. Opportunity Identification • Motivators of the NPD Process • Formal Corporate Structures • Underutilized Resources • New Resources • Internal Mandates • External Mandates

  4. Challenging Inertia • Do an assumption analysis • List key uncertainties • Opportunities appear • Embrace the uncertainties with Scenario Planning • 1980’s example

  5. Example:Global Uncertainties (mid-80’s) • Key Uncertainties • Trade conflict between USA and Japan • Arms negotiations between USA and USSR • Spread of AIDS • Impact of Europe 1992 • Deterioration of ozone layer and hole • Continuation of Apartheid

  6. Combining 2 Key Uncertainties USA / Japan Accommodation Trade Conflict Arms Race Imperial Twilight X USA/ USSR Detente Industrial Renaissance Protracted Transition

  7. A Scenario Planning Exercise • Objective • To sketch out strategically different futures that your organization may have to operate in • Inside these different futures, focus on the concrete detail in order to identify new product opportunities

  8. A Scenario Planning Exercise • Instructions • Get in your assigned groups • Focus on the industry that you’ve been assigned and act as an organization within that industry • Go through the scenario planning stages (listed on the next page), develop one of the scenarios and attempt to identify new product opportunities

  9. A Scenario Planning Exercise • Scenario Planning Stages • I) List the main stakeholders & their interests/positions • II) List the main long-term trends and assess the impact of each trend on this organization (+, 0, -, ?) • III) List the past events that have surprised people in this industry. • IV) Identify other key uncertainties • V) Pick the 2 most important and dichotomize them (vote) • VI) Fill in the matrix, pick one cell to examine in depth

  10. Opportunity Identification • Scenario Development • Have the group members take on the roles of the different possible players in the scenario & discuss details of the situation (how specifically would your party be impacted) • What new opportunities or needs emerge in this new “world”?

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