1. Project Review
1.1. Summary of Project
1.2. Timeline:
1.3. Budget:
1.4. Resources:
2. New - product development strategy
2.1. Acquisition
2.2. New product development
2.2.1. original product, product improvement modification
2.2.2. new brands developed
3. Managing new product development
3.1. customer - centered new product development
3.1.1. finding new ways to solve customer problem
3.1.2. create more customer satisfying experiences
3.1.3. begin & end with solving customer problem
3.2. sequential new product development
3.2.1. complete each stage of the process before passing a long to the next stage or department
3.3. systematic new product development
3.3.1. collects, review, evaluates, manages new product idea
3.4. team-based new product development
3.4.1. versus sequential new product development
4. Product life cycle (PLC)
4.1. PLC concept
4.1.1. style
4.1.1.1. basic, distinctive mode of expression
4.1.2. Fashion
4.1.2.1. currently accepted popular style in a given field
4.1.3. Fads
4.1.3.1. temporary periods of intense sales driven by short-term consumer enthusiasm
4.2. PLC describes
4.2.1. Product class
4.2.1.1. have the longest life cycles
4.2.2. Product forms
4.2.2.1. have standard PLC shape
4.2.3. Brands
4.2.3.1. have changing PLCs due to competitive threats
4.3. PLC has 5 stages
4.3.1. Product development
4.3.2. introduction
4.3.2.1. Sale - low
4.3.2.2. profit - generally negative till end
4.3.2.3. Customer - innovators
4.3.2.4. competitive - low
4.3.3. Growth
4.3.3.1. Sale & profit - fastest rise
4.3.3.2. profits - peak here
4.3.3.3. customer - early adopters
4.3.3.4. competition - growing
4.3.4. Maturity
4.3.4.1. Sales - peak here
4.3.4.2. profit - growth is now in decline
4.3.4.3. customer - middle majority
4.3.4.4. competition - stable, beginning to decline
4.3.5. Decline
4.3.5.1. sale, profit - decline
4.3.5.2. customers - laggards
4.3.5.3. competitive - decline
5. New product development process
5.1. 8 stage
5.1.1. Idea generation
5.1.1.1. internal sources
5.1.1.1.1. company's own R&D
5.1.1.2. external sources
5.1.1.2.1. outside: customers, competitors, distribution, suppliers
5.1.1.3. crowdsourcing
5.1.1.3.1. broad communities
5.1.2. idea screening
5.1.2.1. reviewing
5.1.2.1.1. drop poor ideas
5.1.3. concept development & testing
5.1.3.1. concept development
5.1.3.1.1. Product idea:
5.1.3.1.2. product concept:
5.1.3.1.3. product image:
5.1.3.2. concept testing
5.1.3.2.1. ask target consumers to evaluate product concept
5.1.4. marketing strategy development
5.1.4.1. part 1
5.1.4.1.1. description of the target market
5.1.4.1.2. product positioning, sale, market share, profit goals
5.1.4.2. part 2
5.1.4.2.1. price distribution & budget
5.1.4.3. Part 3
5.1.4.3.1. long-term sales, profits goals, marketing mix strategy
5.1.5. business analysis
5.1.5.1. sales, costs, profit projections to find out whether they satisfy the company's objective
5.1.6. product development
5.1.6.1. creation: testing, prototyp development
5.1.7. testing marketing
5.1.7.1. test in realistic market setting
5.1.7.2. provide the market with experience before full introduction
5.1.7.3. approaches to test marketing
5.1.7.3.1. standard test market
5.1.7.3.2. controll test market
5.1.7.3.3. stimulated test market
5.1.8. commercialization
5.1.8.1. introduction a new product into the market
6. Additional product & service considerations
6.1. Product decisions & social responsibility
6.1.1. Public policy, regulation regarding developing
6.1.2. dropping product, pateuts, quality, safety