1-14-10 NPD Process - NPDProcessOverview Dr.ReginaMcNally...

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NPD Process Overview Dr. Regina McNally SS10 MKT420/ME497
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Topics Need to Innovate NPD Success Factors NPD Processes Innovation Tournaments Effective NPD Teams Secondary Market Data
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Innovation Intensity Declining Development Project  Type 1990 2004 % Change  from 1990 New-to-world  (true innovations) 20.4% 11.5% - 43.7% New product lines to firm 38.8% 27.1% - 30.1% Additions to existing  product line in firm 20.4% 24.7% + 20.8% Improvements and  modifications to existing  firm products 20.4% 36.7% + 80.1% Percent of Projects in the Development Portfolio APQC 2004 Study
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Decline Not from “The Best” New-to-World Projects 1995 2004 Trend “The Best” 11.0% 11.0% No change “The Rest” 10.0% 7.3% - 27% The Best” The Rest” % Sales from NPs 47.6% 21.4% % Profits from NPs 49.1% 21.2% # Ideas for one success 4.0 9.2 First-to-Market Strategy 1995 2004 Trend “The Best” 44.0% 49.5% + 13% “The Rest” 30.0% 26.3% - 12% PDMA 2004 Study
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What Were They Thinking?! Robert M. McMath and Thom Forbes (1998), What Were They Thinking? , NY: Three Rivers Press. http://www.arborstrategy.com/asg/newproductworks/failures.html
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The Cult of Innovation “Insights need to be derived from the unmet  needs and desires of people, not simply the  company’s feeling that it needs to innovate.  The reason we covet certain objects has little to  do with how “innovative” they are. Instead, we  favor certain products because they meet our  needs, even if they are needs we didn’t know  we had. ”   Dan Saffer (3/5/07),  BusinessWeek , p. 89.
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The 4 C’s of NPD: • Customers • Creativity
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