int2) what organizational structures and processes do managers use to overssee new product...
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INTRODUCING NEW MARKET OFFERINGSINTRODUCING NEW MARKET OFFERINGSINTRODUCING NEW MARKET OFFERINGSINTRODUCING NEW MARKET OFFERINGS
What organizational structures and processes do
managers use to oversee new-product development ?
HIMANSHU UMARIA
IIT DELHI
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BUDGETING FOR
NEW–PRODUCT
DEVELOPMENT
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�Financing as many projects as possible
�Conventional percentage of sales figure
�Spend what the competition spends
�working backwards
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ORGANIZING NEW-PRODUCT
DEVELOPMENT
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Venture Teams
A venture team is a cross-functional group charged with developing a specific product or business; intrapreneurs are relieved of other duties and provided a
budget and time frame
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�Cross-Functional Teams
�Stage-Gate Systems
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Coordinate, stimulate, and search for ideas in external environment and among company personnel
Identify:
1.Company factors
2.Their weights
Develop alternative product concepts
Buy equipment and go into full production and distribution
Go into limited production, prepare advertising
Propose:
1.Price
2.Distribution
3.Promotion
Prepare:
1.Market analysis
2.Cost analysis
Conduct:
1.Engineering tests
2.Consumer preference tests
3.Branding
4.Packaging
DROP
Lay future plans
7. Market testing
Have product sales met our expectations?
6. Product development
Have we developed a product that is sound technically and commercially?
5. Business analysis
Will this product meet our profit goal?
4. Marketing strategy development
Can we find a cost-effective, affordable marketing strategy?
3. Concept developing and testing
Can we find a good concept for the product that consumers say they would try?
1. Idea generation
Is the particular idea worth considering?
2. Idea screening
Is the product idea compatible with company objectives, strategies, and resources?
8. Commercialization
Are product sales meeting our expectations?
Yes YesYes Yes YesYesYes Yes
Would it help to modify our product or marketing program?
Should we send the idea back for product development?
No No
No No NoNoNo No
Yes
Yes
NewNewNewNew----product Development Decision Processproduct Development Decision Processproduct Development Decision Processproduct Development Decision Process
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RECAPRECAPRECAPRECAP
1. Budgeting for new-product development
2. Organizing new-product development
3. Venture teams
4. New-product development decision process
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CREDITSCREDITSCREDITSCREDITS
https://www.pinu.com.ua
https://www.thearcofmass.org
https://www.dealer-communications.com
https://www.lifeinorder.com.au
http://www.drawpack.com
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THANK YOUTHANK YOUTHANK YOUTHANK YOU
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