Giáo trình: Marketing Management_ Chapter 8

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Tài liệu giáo trình môn Marketing management_ Chapter " New Product Development", dành cho sinh viên bậc đại học, cao học đang theo học các ngành kinh tế, marketing...

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Nội dung Text: Giáo trình: Marketing Management_ Chapter 8

New Product Development Chapter 8 8-1
Key Learning Points Why new products are important. Factors affecting new product success and failure. Three major approaches to new product development. Steps in bringing a new product to market. Special topics in new product development. Impact of the Internet on new product development. 8-2
Importance of New Products New products are critical to the long- term success of companies. – Successful companies in many industries generate a large percentage of their total sales from new products. • 50% of sales come from new products among highly successful firms. – Companies spend substantial amounts of money developing new products. 8-3
Figure 8-1: Sales Impact of New Products 8-4
Product & Service Importance of New Decisions Products Key Decisions 2001 Top Spenders in R&D 1. Ford Motor 6. Intel 2. General Motors 7. IBM 3. Motorola 8. Pfizer 4. Cisco Systems 9. Lucent 5. Microsoft 10. Pharmacia 8-5
Figure 8-2: Comparison of Change in R&D and Net Sales 8-6
Importance of New Products High tech industry: innovation is life. Over 32,000 new supermarket products were introduced in 2001. New products can: – Revitalize product categories – Bring significant sales growth. – Substantially impact a firm’s overall performance. 8-7
Importance of New Products Key issues in new product development: – What are the sources of new product ideas? – How should a large list of ideas be screened? – How do you go from concept to prototype? – How do you forecast demand? – What is the ideal organizational form? – How should a new product be introduced to the marketplace? – How can the entire new product development process be done more quickly? 8-8
Importance of New Products What constitutes a new product? – Classically innovative products. – New category entries. – Additions to the product line or line extensions. Minor product changes may also be perceived as “new” by the target market. – “New and improved” product versions. – Repositioned products that feature a new use or benefit. 8-9
Factors Affecting New Product Success or Failure New product failure rates vary from 67% to 80%. – 1990: Success rate was only 10% – 1995: Improvements in the product development process increased the new product success rate to current levels. 8 - 10
Figure 8-3: New Product Idea Mortality Curve: 1990 and 1995 8 - 11
Factors Affecting New Product Success or Failure Superior product with unique benefits. Strong market orientation. Sufficient time spent on “homework” phase of development process. Sharp product definition. High-quality execution of new product development process. 8 - 12
Factors Affecting New Product Success or Failure Appropriate organizational structure: multifunctional, empowered teams. Strong project prioritization process. Careful and well-funded new product launch. Strong support by top management. Fast time-to-market. A detailed, multistage, new product development process. 8 - 13
Figure 8-4: New Product and Service Development Process 8 - 14
New Product Development Each stage is completed Approaches sequentially. – Opportunity identification Classic Linear • Market definition, idea generation Approach – Design • Idea screening, concept Rugby and prototype creation – Testing Approach • Product and ad testing Target Costing – Introduction • Trial and repeat purchase Approach measures are key – Life cycle management 8 - 15
New Product Development New products result Approaches from constant interaction among Classic Linear interdisciplinary team members. Requires: Approach – Built-in instability Rugby – Self-organizing project teams Approach – Overlapping development phases Target Costing – Multilearning Approach – Subtle control – Transfer of learning 8 - 16
New Product Development Approaches Product development: – Begins with an Classic Linear estimate of the target Approach price that buyers are willing to pay. Rugby – Feasibility of meeting Approach price is assessed. • Quality vs. cost Target Costing – Costs are carefully Approach controlled to meet target price. 8 - 17
Figure 8-5: Target Costing Process 8 - 18
New Product Development Key Phases Two types of new product concepts: Concept – Ready-made Generation – Generated via a creative process Concept • Internal creative Screening thinking groups Product Definition – Brainstorming is an important part of Forecasting most creative group processes Demand • Consultants 8 - 19
Figure 8-6: Sources of Ready-Made New Products 8 - 20