2011 FOS 4435 5437 Strategy and Marketing for FPD 1 19 11

2011 FOS 4435 5437 Strategy and Marketing for FPD 1 19 11 -...

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NPD: Management, Marketing and Finance FOS 4435/5437 Spring 2011 19 January 2011
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Strategic Development Overview Senior management Provides direction and defines the identity of the company Finance Monitors progress of programs and advises upper management on financial health of company Marketing Searches for needs in the marketplaces of interest, and drives development of goods and services for those customers and consumers having the needs
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Senior Management
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Senior Management and Role in the Development Process Define the company Protect and build an identity Must define what business they are in i.e. Pepsi as a “refreshment” company; not a CSD company Should be defined by customer and consumer needs Why? This knowledge can help drive new products and new categories
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Senior Management (con’t.) Effective involvement includes Early and clear interest in NPD Ensure that business objectives are adhered to Ensure fit with corporate or brand image Helps a focus on the big picture Assess skills of team members Remove obstacles Micromanagement unwelcome Often a (bad) trait of entrepreneurs Hire talented people and let them do their job
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Management Objectives Financial Greater return on investment for partners, owners and investors Strategic Can be defensive in nature (protecting the company’s market position) or Offensive Tactical Short term path towards goals
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The Finance Department
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The Golden Rule “Whoever has the gold, makes the rules.”
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Finance Department’s Roles Monitor the day-to-day financial affairs of the company Alert management to the health of the company and financial consequences of actions or decisions Advise management of company’s financial ability or need to undertake new product development Track costs and provide cost/benefit analysis
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Analysis of Projected Costs for NPD and Introduction Production costs + Development costs + Marketing and sales costs = Total Projected Costs
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Production Costs Overhead:
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2011 FOS 4435 5437 Strategy and Marketing for FPD 1 19 11 -...

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