1 / 17

Lecture on Developing New Products and Services AssignmentPoint

Lecture on Developing New Products and Services www.AssignmentPoint.com. THE VARIATIONS OF PRODUCTS. Product Line and Product Mix Classifying Products Type of User Consumer goods Business goods Degree of Tangibility Services and New-Product Development.

tylerw
Download Presentation

Lecture on Developing New Products and Services AssignmentPoint

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Lecture on Developing New Products and Services www.AssignmentPoint.com

  2. THE VARIATIONS OF PRODUCTS • Product Line and Product Mix • Classifying Products • Type of User • Consumer goods • Business goods • Degree of Tangibility • Services and New-Product Development

  3. CLASSIFYING CONSUMERAND BUSINESS GOODS • Classification of Consumer Goods • Convenience goods • Shopping goods • Specialty goods • Unsought goods

  4. Classification of consumer goods

  5. CLASSIFYING CONSUMERAND BUSINESS GOODS • Classification of Business Goods • Production Goods • Support Goods • Installations • Accessory Equipment • Supplies • Services

  6. NEW PRODUCTS AND WHY THEY SUCCEED AND FAIL • What is a New Product? • Newness Compared with Existing Products • Newness in Legal Terms • Newness from the Company’s Perspective • Newness from the Consumer’s Perspective

  7. Consumption effects define newness

  8. NEW PRODUCTS AND WHY THEY SUCCEED AND FAIL • Marketing Reasons for Failures • Insignificant “point of difference” • Incomplete market and product definition (Protocol) • Too little market attractiveness • Poor execution of the marketing mix • Poor product quality or sensitivity • Bad timing • No economical access to buyers

  9. NEW-PRODUCT PROCESS

  10. THE NEW-PRODUCT PROCESS • New-Product Strategy Development • Objectives of the Stage: Identify Markets and Strategic Roles • 3M: Cross-Functional Teams, Six Sigma, and Lead Users

  11. THE NEW-PRODUCT PROCESS • Idea Generation • Customer and Supplier Suggestions • Employee and Co-Worker Suggestions • Research and Development Breakthroughs • Competitive Products

  12. THE NEW-PRODUCT PROCESS • Screening and Evaluation • Internal Approach • External Approach

  13. THE NEW-PRODUCT PROCESS • Business Analysis • Development • Market Testing • Test Marketing

  14. Six important U.S. test markets

  15. THE NEW-PRODUCT PROCESS • Market Testing • Simulated Test Markets • When Test Markets Don’t Work

  16. THE NEW-PRODUCT PROCESS • Commercialization • Burger King’s French Fries: The Complexities of Commercialization • The Risks and Uncertainties of the Commercialization Stage • Slotting fee • Failure fee • Speed as a Factor in New-Product Process

  17. Marketing information and methods used in the new-product process

More Related