developing new products and managing the product life cycle n.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
Developing New Products and Managing the Product Life-Cycle PowerPoint Presentation
Download Presentation
Developing New Products and Managing the Product Life-Cycle

Loading in 2 Seconds...

play fullscreen
1 / 27

Developing New Products and Managing the Product Life-Cycle - PowerPoint PPT Presentation


  • 238 Views
  • Uploaded on

8. Developing New Products and Managing the Product Life-Cycle. Chapter Outline. New-Product Development Strategy The New-Product Development Process Managing New-Product Development Product Life-Cycle Strategies Product Decisions and Social Responsibility

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'Developing New Products and Managing the Product Life-Cycle' - danica


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.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
developing new products and managing the product life cycle

8

Developing New Products

and Managing the Product Life-Cycle

chapter outline
Chapter Outline
  • New-Product Development Strategy
  • The New-Product Development Process
  • Managing New-Product Development
  • Product Life-Cycle Strategies
  • Product Decisions and Social Responsibility
  • International Product and Services Marketing
today s outline
Today’s Outline
  • New product development process
  • Class activity three
what do you think about these new products
What do you think about these NEW PRODUCTS?
  • Smucker’s ketchup
  • Gerber’s beef mushroom gravy
  • Fruit of loom detergent
  • Eagle snacks (Anheuser-Busch)
why new products fail
Why New Products Fail
  • No discernible benefits
  • Poor match between features and customer desires
  • Overestimation of market size
  • Incorrect positioning
  • Price too high or too low
  • Inadequate distribution
  • Poor promotion
  • Inferior product

LO3

new product development strategy
New-product Development Strategy
  • New-product development is the development of original products, product improvements, product modifications, and new brands through the firm’s own product- development efforts.
idea screening
Idea screening
  • Screening new-product ideas in order to spot good ideas and drop poor ones as soon as possible.
  • Real
    • Any real need and wants from customer?
  • Win
    • Any competitive advantage?
  • Worthdoing
    • Sufficient profit?
concept development and testing
Concept Development and Testing
  • Product concept is a detailed version of the new-product idea stated in meaningful consumer terms.
concept development and testing1
Concept Development and Testing
  • Concept testing is testing new-product concepts with a group
  • of target
  • consumers to find out if
  • the concepts have strong
  • consumer appeal.
marketing strategy development
Marketing Strategy Development

Marketing Strategy Statement

business analysis
Business Analysis
  • Business analysis is a review of the sales, costs, and profit projections for a new product to find
  • out whether
  • these factors
  • satisfy the
  • company’s
  • objectives.
product development
Product development
  • Product development is developing the product concept into a physical product in order to ensure that the product idea can be turned into a workable market offering.
test marketing
Test marketing
  • Test marketing is the stage of new-product development in
  • which the product
  • and marketing
  • program are
  • tested in realistic
  • market settings.
commercialization
Commercialization

Commercialization involves introducing a new product into

the market.

customer centered new product development
Customer-Centered New-Product Development
  • New-product development that focuses on finding new ways to solve customer problems and create more satisfying customer experiences.
class activity four
Class activity four
  • New product development
systematic new product development
Systematic New-Product Development
  • The new-product development process should be holistic and systematic rather than compartmentalized and haphazard.