best ways to manage the new-product developement process

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-Divyanshu Pal Nagar, IITK

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Page 1: Best ways to manage the new-product developement process

-Divyanshu Pal Nagar, IITK

Page 2: Best ways to manage the new-product developement process

3.What is the best way to manage the new-product development process ?

Page 3: Best ways to manage the new-product developement process

Many top companies use the stage-gate system to divide the innovation Process in stages with a gate or Checkpoint at the end of each

Page 4: Best ways to manage the new-product developement process

The stages of new-product development process are actually various check-points

Page 5: Best ways to manage the new-product developement process

1. Idea generation

Is idea worth considering ?

Page 6: Best ways to manage the new-product developement process

2. Idea screening

Is the product idea compatible withCompany objectives, strategy and resources ?

Page 7: Best ways to manage the new-product developement process

3. Contest development and testing

Can we find a good concept consumers say they would try ?

Page 8: Best ways to manage the new-product developement process

4. Marketing strategy development

Can we find a cost effective, affordable marketing strategy ?

Page 9: Best ways to manage the new-product developement process

5. Business analysis

Will this product meet our profit goal ?

Page 10: Best ways to manage the new-product developement process

6. Product development

Have we got a technically And commercially sound project ?

Page 11: Best ways to manage the new-product developement process

7. Market testing

Have product sales met expectations ?

Page 12: Best ways to manage the new-product developement process

8. Commercialization

Are product sales meeting expectations ?