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NEW PRODUCT DEVELOPMENT AND PRODUCT LIFE-CYCLE STRATEGIES - Coggle Diagram
NEW PRODUCT DEVELOPMENT AND PRODUCT LIFE-CYCLE STRATEGIES
New-Product Development Strategy
Acquisition : company, a patent or a license to produce someone else's product.
New-product development : orginal products (sp gốc) , product improvements, product modifications, and new brands.
Reasons for a new product failure
Overestimation of market size ( đánh giá thị trường cao )
Poor design ( thiết kế kém)
Incorrect positioning ( định vị sai )
Wrong timing ( sai thời điểm)
Priced too high ( giá cả cao )
Ineffective promotion ( quảng cáo ko hịu quả)
Management influence ( ảnh hưởng quản lí )
High development costs ( chi phí phát triển cao)
Competition
New-Product Development Process
Idea generation ( Hình thành ý tưởng )
Internal : research and development, staff and management, and intrapreneurial program.
External : customer, competitors, distributors, suppliers and outside design firms.
Idea screening ( sàn lọc ý tưởng ) : reviewing new-product ideas in order to drop poor as soon as possible.
Concept Development and Testing
Product idea: a possible product that the company can see itself offering to the market
Product concept : a detailed version of the idea stated in meaningful consumer terms
Product image : the way consumers perceive an actual or potential product.
Concept testing : new-product concepts with groups of target consumers.
Marketing Strategy Development : the initial marketing strategy for introducing the product to the market.
Marketing strategy statement
Part 1:Description of the target market
Product positioning, sales, market share, and profit goals
Part 2: Price distribution and budget
Part 3:Long-term sales, profit goals, and marketing mix strategy
Business Analysis : sale, cost, and profit projections to find out whether they satisfy the company’s objectives.
Product development : creation and testing of one or more physical versions by the R&D or engineering departments.
Test Marketing : the product and marketing program are introduced into more realistic marketing settings.
When firms test marker : large investment, uncertainty about product or mkt program.
When firms may not test market : simple line extension, copy of competitor product, low costs, management confidence .
Standard test markets
Controlled test markets : new products and marketing tactics are tested among specifically identified groups of customers and stores.
Simulated test markets : create a shopping environment and note
how many consumers buy the new product and competing products
Commercialization: is the introduction of the new product.
When to launch
Where to launch
Planned market rollout
Managing Strategy Development
Customer-centered: finding new ways to solve customer problems and create more customer satisfying experiences
Sequential : tuần tự -to complete each stage of the process before passing along to the next department or stage.
Team-based: in cross-functional teams, overlapping in the product-development process to save time and increase effectiveness.
tension and confusion
faster and more flexible
Systematic: collects, reviews, evaluates, and manages new-product ideas.
Product Life-Cycle Strategies
PLC
Product development
Introduction : takes time, slow sales growth, little or no profit, high distrinution and promotion expense.
Growth
Maturity : slowdown in sales, many suppliers, substitute products, overcapacity leads to competition,Increased promotion and R&D to support sales and profits.
Decline :
maitain the product : bảo quản sản phẩm ,
harvest the product : thu hoạch sản phẩm,
drop the product : thả sản phẩm
Modifying Strategies : sửa đổi chiến lược
Market modifying
Product modifying
Marketing mix modifying