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Strategy Development Business Strategies Product Design Financials

Strategy Development Business Strategies Product Design Financials. Strategy Development. Environmental Scanning Surveys, pie charts, etc. Customer and Market Requirements What will make your product viable in the market? Order winners- What convinces the customer to buy?

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Strategy Development Business Strategies Product Design Financials

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  1. Strategy DevelopmentBusiness StrategiesProduct DesignFinancials

  2. Strategy Development • Environmental Scanning • Surveys, pie charts, etc. • Customer and Market Requirements • What will make your product viable in the market? • Order winners- What convinces the customer to buy? • Competitors and other threats – who/what are they and how will you overcome

  3. Example of Environmental Scanning Figure 6: Flavoredvs Original Figure 5: Filtered VS. Tap

  4. Customer/Market Reqs • Product example: Hairbrush that repels hair • Viable in the market: • Addresses a current issue woman have • No direct competitors • Easy to use, distribute • Order winner: • Easy to use plastic sheets rip the hair right off the brush, works on any type of hair

  5. Customer/Market Reqs • Competitors/Threats • Phillips, Vidal Sassoon, Monroe, etc • How did we overcome our competitors? • Market research • R&D • External Threats • Supplies, Distribution, etc

  6. Competitive Priorities • What will your company compete on (pick 2 or 3)? • Cost • Quality • Time to market • Flexibility • Innovation

  7. Core Competency • What does your company do better than anyone else? • Examples: • Research and Development • Advertising (Brand Equity) • Manufacturing speed and quality • Employee Training • DO NOT CONFUSE CORE COMPETENCY AND COMPETITIVE PRIORITIES!!!!!!

  8. Tie Competitive Priority to Core Competency • Product Example: Recycling Bin that has built in shredder and can crusher • Competitive Priority: Quality and Flexibility • Core Competencies: • Quality = Supply chain management to procure the best raw materials • Flexibility = Highly tuned manufacturing processes with integrated IT systems that allows customers to customize their recycling bins.

  9. How do you support the Core Competencies • Supply Chain Management = Relational contracts with suppliers with week-to-week interaction • Highly tuned manufacturing processes with integrated IT systems = Highly trained and well paid IT department

  10. Product Design • Acceptable: • Draw by hand (make sure it looks good) • Draw using PowerPoint, Visio, etc. • Find relevant pictures • Unacceptable:

  11. Financials • Use Regression and Break-even analysis template • http://ta.ba.ttu.edu/jtriche/docs/Forecasting%20and%20BE%20Template.xlsx • Inputs needed: • Selling Price • Variable Cost • 1styear sales (template provided) • Last 5 years sales from competitor

  12. MAD and Tracking Signal • Use MAD and TS Template • What does it mean? • How did you calculate it? (Don’t say template) • How do you interpret it? • Remember: • Negative TS means over-forecasting • Positive TS means under-forecasting

  13. Seasonality • If your product is seasonal, attach a seasonal forecast. • If not, just say “We are not a seasonal product”

  14. Production Capacity • Plans for the next 5 years • Defend safety capacity • Example: We will maintain 20% safety capacity of finished goods in our warehouse in our first year. • Expansion plans • From a physical (plant) perspective • From a product perspective • From a customer demographics perspective

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