TAILIEUCHUNG - Lecture fundamentals of marketing - Lecture 15: New-product development and product life-cycle strategies

After studying this chapter you will be able to understand: New-product development strategy, new-product development process, managing new-product development, product life-cycle strategies, additional product and service considerations. | LECTURE 15 Copyright 2012 Pearson Education Inc. 1- 1- 11 Publishing as Prentice Hall Topic Outline New-Product Development Strategy New-Product Development Process Managing New-Product Development Product Life-Cycle Strategies Additional Product and Service Considerations Copyright 2012 Pearson Education Inc. 1- 2 Publishing as Prentice Hall New-Product Development Strategy Two ways to obtain new products 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 Copyright 2012 Pearson Education Inc. 1- 3 Publishing as Prentice Hall New-Product Development Process Major Stages in New-Product Development Copyright 2012 Pearson Education Inc. 1- 4 Publishing as Prentice Hall New-Product Development Process Idea Generation Idea generation is the systematic search for new-product ideas Sources of new-product ideas Internal External Copyright 2012 Pearson Education Inc. 1- 5 Publishing as Prentice Hall New-Product Development Process Idea Generation Internal sources refer to the company s own formal research and development management and staff and entrepreneurial programs External sources refer to sources outside the company such as customers competitors distributors suppliers and outside design firms Copyright 2012 Pearson Education Inc. Publishing as Prentice Hall 1- 6 New-Product Development Process Crowd sourcing Inviting broad communities of people customers employees independent scientists and researchers and even the public at large into the new-product innovation process. Copyright 2012 Pearson Education Inc. 1- 7 Publishing as Prentice Hall New-Product Development Process Idea Screening Identify good ideas and drop poor ideas R-W-W Screening Framework Is it real Can we win Is it worth doing Copyright 2012 Pearson Education Inc. 1- 8 Publishing as .

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