1. Idea Insights from GNPS New Product Launch Episode 15-21 www.globalnpsolutions.com/idea-incubator/ 1 2. Idea Insights from GNPS NPD Structured Process Staged and gated processes guide new product development Minimizes innovation risk and investment Stages: 1. Opportunity Identification 2. Concept Generation 3. Concept Evaluation 4. Technical Development 5. Commercial Launch www.globalnpsolutions.com/idea-incubator/ 2 3. Idea Insights from GNPS Fuzzy Front End Fuzzy Front End comprises early stages of NPD process Stages 1 through 3 Economic evaluations of fuzzy front end Net present value (NPV) Return on investment (ROI) Sensitivity analysis Pricing models www.globalnpsolutions.com/idea-incubator/ 3 4. Idea Insights from GNPS Technical Development Earlier stages establish estimates for sales High volume, low price Low volume, higher price Stage 4 results in firm cost estimates Development costs Manufacturing costs Capital investment www.globalnpsolutions.com/idea-incubator/ 4 5. Idea Insights from GNPS Commercialization Final work before product is introduce to market Market testing: product + marketing plan Determines market share and reach Post-launch review to verify sales and marketing www.globalnpsolutions.com/idea-incubator/ 5 6. Idea Insights from GNPS Stage 5 Economics Value Capture and Value Creation https://www.youtube.com/watch?v=nIK8ZBAeGrU Life Cycle Earnings Start with real revenues and costs (profit = revenue cost) Depends on the product life cycle (fad or durable good?) Short life cycle may need replacement products Long life cycle needs to maintain customer interest Want customers to purchase more www.globalnpsolutions.com/idea-incubator/ 6 7. Idea Insights from GNPS For More Information See the full post at the Idea Incubator Blog www.globalnpsolutions.com/idea-incubator/ Free registration Contact me! 1-281-280-8717 info@globalnpsolutions.com 2323 Clear Lake City Blvd., #180-177 Houston, TX 77062 www.globalnpsolutions.com/idea-incubator/ 7 Click here