Chapter 10 - Chapter Ten New-Product Development and...

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Chapter 10 - slide 1 COMM 224 / DR. K. BÜYÜKKURT Chapter Ten New-Product Development and Product Life-Cycle Strategies
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Chapter 10 - slide 2 COMM 224 / DR. K. BÜYÜKKURT 10-2 Chapter 10: New Product Development and Life Cycle Strategies 1. How do companies develop new- product ideas 2. How are new products developed? What steps are involved? 3. What is a product life cycle ( PLC )? What are its major stages ? 4. How do marketing strategies change during the PLC of a product?
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Chapter 10 - slide 3 COMM 224 / DR. K. BÜYÜKKURT New-Product Development Strategy Acquisition refers to the buying of a whole company, a patent, or a license to produce someone else’s product New product development refers to original products, product improvements, product modifications, and new brands developed from the firm’s own research and development Two ways to obtain new products
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Chapter 10 - slide 4 COMM 224 / DR. K. BÜYÜKKURT Reasons for New Product Failure
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Chapter 10 - slide 5 COMM 224 / DR. K. BÜYÜKKURT New-Product Development Process Major Stages in New-Product Development
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Chapter 10 - slide 6 COMM 224 / DR. K. BÜYÜKKURT New-Product Development Process Idea generation is the systematic search for new-product ideas Sources of new-product ideas Internal External Idea Generation
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Chapter 10 - slide 7 COMM 224 / DR. K. BÜYÜKKURT New-Product Development Process Internal sources refer to the company’s own formal research and development, management and staff, and intrapreneurial programs External sources refer to sources outside the company such as customers, competitors, distributors, suppliers, and outside design firms Idea Generation
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Chapter 10 - slide 8 COMM 224 / DR. K. BÜYÜKKURT New-Product Development Process Identify good ideas and drop poor ideas R-W-W Screening Framework: Is it real? Can we win? Is it worth doing? Idea Screening
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Chapter 10 - slide 9 COMM 224 / DR. K. BÜYÜKKURT New-Product Development Process Product idea is an idea for a possible product that the company can see itself offering to the market Product concept is a detailed version of the idea stated in meaningful consumer terms Concept Development and Testing
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Chapter 10 - Chapter Ten New-Product Development and...

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