Simulated test market testing gauge customer reaction retailer support

Simulated test market testing gauge customer reaction

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Simulated test market testing – gauge customer reaction, retailer support, promotion effectiveness, firm up forecasts ! Revised business and financial analysis – firm up assumptions
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Gate 5: Go to Commercialization ! Sign off on ! marketing plan ! Launch plan ! Sales plan ! Promotion plan ! Production plan ! Operations plan Is it ready to go to market?
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Stage 5: Commercialization ! Rapid national or global launch vs roll out
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Post Launch Review ! So did we achieve our objectives?
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10 Implementation Tips for NPD Processes 1. Have A Well Designed, Credible Process Design 2. Give Visible and Meaningful Leadership Support 3. Be Sure You Have Sufficient and Appropriate Resources 4. Create Defined Roles and Responsibilities 5. Have A Strategic Implementation Approach 6. Be Effective with Your Communication and Marketing 7. Track Your Performance 8. Appoint an Executive Sponsor of the Product Innovation Program 9. Understanding the Impact on Your Company’s Culture and Systems 10. Seek Effective Change Management
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Proctor &Gamble (P&G) has modified SG - SIMPL Discover Promising consumer proposition Design Integrated business proposition Qualify The initiative Ready Prepare market launch Launch Execute market entry Staff it? Project establishment Design complete? Start implementation ? Project commitment Criteria met? Launch plan agreed? Launch plan agreement Ready for Launch Launch authorization Key Decision Milestone Four Gates Five stages
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Example: Cochlear PIP (Product Introductory Process) Project Management
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The Operating Principles of PIP ! Success is failing early ! Learn from experience ! Planning reality checks – can we deliver ! Rigorous design reviews ! Considered scope change ! Outcome driven documentation ! Meaningful milestones ! Roles and responsibilities ! Timely and accurate decisions ! Organisational alignment
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Spiral Development ! The spiral model is a development process combining elements of both design and proto typing-in-stages , in an effort to combine advantages of top- down and bottom- up concepts. ! Lean Product Development – owen for sowware or products that need to be beta tested and refined through several ‘user’ iteraAons
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Principles of the Lean Approach ! The emphasis is on nimbleness and speed - New ventures rapidly assemble minimum viable products (MVP) and immediately elicit customer feedback . ! Then, using customers' input to revise their assumptions, they start the cycle over again, testing redesigned offerings and making further small adjustments (iterations) or more substantive ones (pivots) to ideas that aren't working.
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MVP Concept ! Minimum Viable Product ! Rough working prototype ! Customers that are close vs everyone (e.g. Google Chrome) ! Rapid experimentation and experiential involvement ! The entrepreneur model ! Part sales pitch part development ! Similar to the start-up model of business
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  • Three '17
  • new product development, NPD, product innovation

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