Chapter 11_Developing and Managing Products

Chapter 11_Developing and Managing Products - Lamb Hair...

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1 Lamb, Hair, McDaniel CHAPTER 11 Developing and Managing Products 2010-2011
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2 LO 1 Explain the importance of developing new products and describe the six categories of new products LO 2 Explain the steps in the new-product development process LO 3 Discuss global issues in new-product development LO 4 Explain the diffusion process through which new products are adopted LO 5 Explain the concept of product life cycles Learning Outcomes Learning Outcomes
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3 Categories of New Products New-to-the-World (10%) New-to-the-World (10%) New Product Lines 20% New Product Lines 20% Product Line Additions 26% Product Line Additions 26% Improvements or Revisions 26% Improvements or Revisions 26% Repositioned Products 7% Repositioned Products 7% Lower-Priced Products 11% Lower-Priced Products 11% LO 1
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4 The New-Product Development Process Long-term commitment Long-term commitment Company-specific approach Company-specific approach Capitalize on experience Capitalize on experience Establish an environment Establish an environment New Product Success Factors LO 2
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5 New-Product Development Process New-Product Strategy New-Product Strategy Idea Generation Idea Generation Idea Screening Idea Screening Business Analysis Business Analysis Development Development Test Marketing Test Marketing Commercialization Commercialization New Product New Product LO 2
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6 Idea Generation Customers Employees Distributors Competitors Vendors R & D Consultants Online http://www.ideo.com LO 2
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7 Current Products Downward Stretch Upward Stretch Two way stretch One way of modifying
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