Giáo trình: Marketing Management_ Chapter 8

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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Giáo trình: Marketing Management_ Chapter 8 New ProductDevelopment Chapter 8 8-1 Key Learning PointsWhy new products are important.Factors affecting new product successand failure.Three major approaches to new productdevelopment.Steps in bringing a new product to market.Special topics in new productdevelopment.Impact of the Internet on new productdevelopment. 8-2 Importance of New ProductsNew 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 ProductsKey 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 ProductsHigh tech industry: innovation is life.Over 32,000 new supermarketproducts 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 ProductsKey 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 ProductsWhat constitutes a new product?– Classically innovative products.– New category entries.– Additions to the product line or line extensions.Minor product changes may also beperceived as “new” by the target market.– “New and improved” product versions.– Repositioned products that feature a new use or benefit. 8-9 Factors Affecting NewProduct Success or FailureNew product failure rates vary from67% 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 NewProduct Success or FailureSuperior product with unique benefits.Strong market orientation.Sufficient time spent on “homework”phase of development process.Sharp product definition.High-quality execution of new productdevelopment process. 8 - 12 Factors Affecting NewProduct Success or FailureAppropriate organizational structure:multifunctional, empowered teams.Strong project prioritization process.Careful and well-funded new productlaunch.Strong support by top management.Fast time-to-market.A detailed, multistage, new productdevelopment process. 8 - 13 Figure 8-4:New Product and Service Development Process 8 - 14New Product Development Each stage is completedApproaches sequentially. – Opportunity identificationClassic Linear • Market definition, idea generationApproach – Design • Idea screening, conceptRugby and prototype creation – TestingApproach • Product and ad testingTarget Costing – Introduction • Trial and repeat purchaseApproach measures are key – Life cycle management 8 - 15New Product Development New products resultApproaches from constant interaction amongClassic Linear interdisciplinary team members. Requires:Approach – Built-in instabilityRugby – Self-organizing project teamsApproach – Overlapping development phasesTarget Costing – MultilearningApproach – Subtle control – Transfer of learning 8 - 16New ...