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Introduction to Product Management

Introduction to Product Management. New Product are Critical for Business Evolution and Sustainability Product Can be managed. Success, Failure, Costs and Risks of New Products. Booz, Allen and Hamilton Study of NPD and New Product Introduction

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Introduction to Product Management

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  1. Introduction to Product Management New Product are Critical for Business Evolution and Sustainability Product Can be managed

  2. Success, Failure, Costs and Risks of New Products • Booz, Allen and Hamilton Study of NPD and New Product Introduction • National Advertisers study of Branded Consumer Products: Failure directly related to departure from product concept and portfolio • Crawford review: Importance of Product Category: Industrial and consumer goods

  3. Initiating Factors • Financial Goals • Sales Growth • Competitive Position • Product Life Cycle • Technology • Invention • Regulation • Material Costs and availability • Demographic and Lifestyle Changes • Customer Requests • Supplier Initiatives

  4. Future Environment Conditions for NPD (Please notice my assessment is different than that in the book) Capital may be difficult to obtain Cost of Capital is likely to be low Distribution Channels (Supply chains) are likely to be more integrated Tough and Global Competition Nations will be aggressively supporting high tech growth oriented industries

  5. Future Environment Conditions for NPD (continued). • Markets will become increasingly mature and saturated • Consumer lifestyles will continue to change • Buyer will be come more sophisticated • Internet based trading will critically affect purchase • Technological Change will be rapid • Product life cycles will shorten • Regulatory environment pressures will increase SUMMARY

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