road blocks to success update

road blocks to success update - Road Blocks to Success Road...

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Road Blocks to Success Road Blocks to Success
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2 What are the Issues? Over half of all new products fail Food: IRI Study of 608 introductions 52% fail 48% success All Industries: New products 46% fail 54% success Source: IRI New product trends 2000. Robert Cooper 2003 Both major and minor intros launched between 10/96 and 10/98 (looking at 2 years post introduction) in 20 categories. Major: New brand or extension into new segment. Minor: form/ flavor extension (not size change).
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3 General Reasons for New Product Failure % Citing Reasons for Failure 45% Marketing Analysis 30% Product Problems or Defects 25% Marketing Efforts not Enough 18% Higher Costs than Expected 17% Competitive Strength or Reaction 15% Poor Timing of Introduction 11% Technical or Production Problems 22% All Other Indequate Communications!!! Source: Robert Cooper 2003
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4 Why? People… Teaming The Knowledge and Information they have at the time. A lack of understanding of all aspects of the product, process and package requirements. The Mindsets People Have Towards Professional Work.
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5 The Key… During all Phases Communicate! Communicate! Communicate! KEEP ALL PARITIES INVOLVED AND INFORMED AT EVERY POINT IN THE PROCESS
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6 What do YOU Communicate About? Link what you are doing to Achieving: #1 How you are delivering Unique and Superior Product Differentiated Product Delivers unique Benefits Delivers Superior value to the Consumer # 2 Clearify a Strong Market Orientation. Market driven and consumer focused. --- Good Market research # 3 Understand International Orientation # 4 Communicate Pre Development Homework # 5 Communicate Sharp and Early Product/ Project Definition # 6 Develop a Well Conceived Market Launch # 7 Get The Right Organizational Structure and the Right Project Structure # 8 Keep Top Management Support # 9 Leverage Core Competencies # 10 Keep the Project Aimed at Attractive Markets Source: Robert Cooper 2003
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7 1 2 2 3 3 4 4 5 5 6 1 0 6 Idea Concept Business Case Develop Scale Up Test/ Validation Launch Post Launch Audit Communicate what contributes to Answering these questions Does Someone want it? Can We sell it? Can We make it? Can We make money? Keep these Questions in Front of you all the time… Low Risk High Risk
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8 Stage 0 Idea/ Planning and Situation Assessment 1 2 2 3 3 4 4 5 5 6 1 0 6 Idea Concept Business Case Develop Scale Up Test/ Validation Launch Post Launch Audit Does Someone want it? Can We sell it? Can We make it?
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This note was uploaded on 01/16/2012 for the course FST 650 taught by Professor Staff during the Spring '11 term at Ohio State.

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road blocks to success update - Road Blocks to Success Road...

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