Part 1 Consumer Insights Persona Week 5 6 20 Part 2 Developing a New Product

Part 1 consumer insights persona week 5 6 20 part 2

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Part 1: Consumer Insights Persona Week 5-6 20% Part 2: Developing a New Product Week 10-11 40% Final Examination TBA 40% Total: 100% - Any group problems must be raised early and cannot be addressed after any submission - You need to meet regularly and not leave the delivery of materials until the last minute
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Course Resources ! Suggested supporting tests: ! Cooper, R. Winning at new products. Basic Books, Fourth Edition, 2011. ! The PDMA Handbook of New Product Development. 3rd Edition 2013 Kenneth B. Kahn (Editor). Product Development Management Association. Wiley Both free online via the RMIT Library Please be aware that due to changing copy write and subscriptions, some e-book download formats may only be temporary e.g. 7 days. However, multiple downloads are permitted throughout the semester.
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Part 1:[Product] Innovation Imperative –Why is it important? why do it?
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Introduction ! New product success is vital to the survival and growth of all businesses. Look around! Companies that are doing well today are more likely to have a continuous supply of successful new products . ! Product innovation is paramount! CEOs continue to rate innovation capability as a critical driver for their future business success as they focus on increasing profitability and growth. ! Developing and launching a steady stream of successful new products is not easy and many companies struggle to do it well or profitably.
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RMIT - MKTG1092 Question: What are the Key Challenges facing Australia Marketers and Product developers? Can technology keep sharks away? Hearing technology
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Question: What are the Key Challenges facing Singaporean Marketers and Product developers?
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Many Pressures Exist To Drive [Product] Innovation Importance ! Supply exceeds demand ! Globalization ! Accelerated commoditization of products and services ! Increasing price wars ! Shrinking profit margins ! Brands are becoming more similar ! Rapidly evolving technology ! Changing consumer needs ! What others can you think of??
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IBM CMO Study: Broader Mktg Issues
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PDMA Hot Topics and Issues [thus ours on this course] 1. The value and importance of open innova5on 2. Managing the front and back end of Innova5on 3. IntegraAng design thinking into the new product development process, and design effecAveness 4. Individual and firm-level incenAves for innovaAon 5. New approaches for customer engagement in the development process 6. The importance of failure and how to manage it 7. Including sustainability in new product development 8. The role of crowdsourcing and crowdfunding in developing new products 9. InnovaAon and product development in a connected world 10. Others?
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RMIT - MKTG1092 Defining Product Innovation and Product Development ! Product innovation is the creation and subsequent introduction of a good or service that is either new, or improved on previous goods or services of its kind.
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  • Three '17
  • new product development, NPD, product innovation

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