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New Product Development (NPD) - Coggle Diagram
New Product Development (NPD)
Ideation
Development
Testing
Launch
What is the right Marketing mix?
Will it work?
Will it sell?
The van Westendorp Price Sensitivity Meter
Price point
Discrete choice framework (expensive)
Take rates (i.e., expected market share)
Expected volume sold
Willingness-to-pay WTP
TURF
How do we do it?
Conjoint framework (customer preference)
Ordinary Least Squares (OLS) linear regression
Kansei framework (consider emotions)
Partial Least Squares (PLS) linear regression
Neural Networks
Correspondence analysis
What do we do?
Mine External Big data
Social media
Product reviews
Text processing (mining)
Multivariate analysis
Mine Internal Big data
Service calls
Warranty claims
Research Market (Voice of the customer)
Surveys
Ethnographic research
CEA Competitive Environment Analysis