New Product Development
Table of Contents
EXECUTIVE SUMMARY i
PRODUCT 1 The new product process 1 1.1 Stages in the new-product process 1 New product strategy development 2 Objectives of the stage 2 Identify Markets and Strategic Roles 2 Cross-functional teams 2 Idea generation 3 Customer Suggestions 3 Employee and Co-worker Suggestions 3 Research and Development Breakthroughs 4 Competitive Products 4 Screening and evaluation 5 Internal Approach 5 External Approach 6 What did the P&G at this stage? 6 BUSINESS ANALYSIS 8 What did P&G at this stage? 9 Product development 10 What did P&G at this stage? 12 Market Tests 14 Test Marketing 15 Simulated Test Markets 16 When Test Markets don’t work 16 What did P&G at this stage? 17 Commercialization 19 Increasing the Success Rate of New Products 20 The Risks and Uncertainties of the Commercialization Stage 21 What achieved P&G at this stage? 22
BIBLOGRAPHY 24
EXECUTIVE SUMMARY
Due to drastic changes in technology, consumers’ wants, desires, has enhaced the imprortance of “new product”. Every organisation is striving for its survival in the environment , and their survival is possible due to “new product” whether it is totally new to the whole market, immitative or comes with little bit differences. So this report is consisted on “new product developmetnt” and different stages of product making. Each stage of the product describes, prurposes of stage, and marketing information and methods used during the process. This report consists on seven chapters, the first chapter pertains to new-product strategy development, objectives for new products are determined The second chapter pertains to Idea generation, ideas for newcome from several sources, including consumers, employees, R&D laboratories, and competitors. The third chapter pertains to Screening and evaluation, screenig and evaluation can be done internally or
EXECUTIVE SUMMARY i
PRODUCT 1 The new product process 1 1.1 Stages in the new-product process 1 New product strategy development 2 Objectives of the stage 2 Identify Markets and Strategic Roles 2 Cross-functional teams 2 Idea generation 3 Customer Suggestions 3 Employee and Co-worker Suggestions 3 Research and Development Breakthroughs 4 Competitive Products 4 Screening and evaluation 5 Internal Approach 5 External Approach 6 What did the P&G at this stage? 6 BUSINESS ANALYSIS 8 What did P&G at this stage? 9 Product development 10 What did P&G at this stage? 12 Market Tests 14 Test Marketing 15 Simulated Test Markets 16 When Test Markets don’t work 16 What did P&G at this stage? 17 Commercialization 19 Increasing the Success Rate of New Products 20 The Risks and Uncertainties of the Commercialization Stage 21 What achieved P&G at this stage? 22
BIBLOGRAPHY 24
EXECUTIVE SUMMARY
Due to drastic changes in technology, consumers’ wants, desires, has enhaced the imprortance of “new product”. Every organisation is striving for its survival in the environment , and their survival is possible due to “new product” whether it is totally new to the whole market, immitative or comes with little bit differences. So this report is consisted on “new product developmetnt” and different stages of product making. Each stage of the product describes, prurposes of stage, and marketing information and methods used during the process. This report consists on seven chapters, the first chapter pertains to new-product strategy development, objectives for new products are determined The second chapter pertains to Idea generation, ideas for newcome from several sources, including consumers, employees, R&D laboratories, and competitors. The third chapter pertains to Screening and evaluation, screenig and evaluation can be done internally or