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Introduction to New Product Development January 18, 2007

Introduction to New Product Development January 18, 2007. Introduction to NPD. Why is NPD an exciting topic? What separates winners from losers? Why does NPD matter? The NPD Process. Introduction to NPD. Why is NPD an exciting topic?. Risky. To avoid failure, everything has to be right:

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Introduction to New Product Development January 18, 2007

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  1. Introduction to New Product DevelopmentJanuary 18, 2007

  2. Introduction to NPD • Why is NPD an exciting topic? • What separates winners from losers? • Why does NPD matter? • The NPD Process

  3. Introduction to NPD • Why is NPD an exciting topic?

  4. Risky • To avoid failure, everything has to be right: • Concept • Design • Pricing • Positioning • Packaging • Advertising and Promotion

  5. Risky • New Products Showcase and Learning Center • Largely for consumer products that tend to have higher failure rates: • http://www.newproductworks.com

  6. Critical

  7. Critical Source: Product Leadership - Creating and Launching Superior New Products Robert G. Cooper

  8. Introduction to NPD • Why is NPD an exciting topic? • What separates winners from losers?

  9. Winners vs. Losers

  10. Winners vs. Losers • The Cornerstones of Performance: • A High-Quality NPD Process • A Defined NPD Strategy for the Business • Resource Commitment

  11. Introduction to NPD • Why is NPD an exciting topic? • What separates the winners from the losers? • Why does NPD matter?

  12. Well-managed NPD processes are a significant source of performance improvement • Decrease Development Time by 30-70% • Reduce # of Engineering Changes by 65-90% • Reduce Time-to-Market by 20-90% • Increase Overall Product Quality by 200-600% • Increase White Collar Productivity by 20-110% • Increase Dollar Sales by 5-50% • Increase Return on Assets by 20-120%Source: Product Leadership (2000) Robert Cooper

  13. PDMA Best Practices Survey (’97) • The Best: • average 49% of sales from products < 5 yrs old • have a success rate over 80% • Use stage/gate processes more extensively (& more stages) • reward team non-financially in public and private ways • innovate in their use of market research and engineering design tools Source: Drivers of NPD Success: The PDMA Report

  14. Introduction to NPD • Why is NPD such an exciting topic? • Introductions • Why does NPD matter? • The NPD Process

  15. The NPD Process Phase 1: Opportunity Identification and Selection Phase 2: Concept Generation/ Ideation

  16. The NPD Process Phase 1: Opportunity Identification and Selection Phase 2: Concept Generation/ Ideation Phase 3: Concept Evaluation & Screening Phase 4: Development

  17. The NPD Process “Fuzzy” Front End Phase 1: Opportunity Identification and Selection Phase 2: Concept Generation/ Ideation Phase 3: Concept Evaluation & Screening Phase 4: Development Phase 5: Testing & Launch

  18. The NPD Process

  19. The NPD Process

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