New Product & Service Development Final Project October 30, 2010.
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Transcript of New Product & Service Development Final Project October 30, 2010.
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New Product & Service DevelopmentFinal Project
October 30, 2010
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Screens and gates are a critical part of the NPD process
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Gate-keepers need information they can rely on
• Unbiased – from someone not at risk of falling in love with idea
• Comprehensive– total market view vs. comparing to self
• Consistent– guarantee criteria are not “adjusted” from gate to gate
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Some of the inputs for applying gate criteria are difficult to obtain from internal sources
• Performance vs. internal criteria– Strategic fit
• Performance vs. competition– Will the proposition succeed at differentiating itself in market?– Will it be seen as having an advantage over similar products?
• Performance vs. volumetric objectives– Will the initiative generate enough volume to sustain distribution?– Will it recoup the investment?– Will it generate incremental sales?
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Ideation: Cast a broad net
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Accelerate promising ideas and weed out losers
• Funnel starts broad and narrows down quickly
Appeal
Find a Motivator Accelerate
Abandon or Rework Find a HookDif
fere
nti
atio
n
LOW HIGH
HIG
H
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Expansion and Surface Evaluation: Separate big ideas from small
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Prioritize
• Performance vs. competitive set– Purchase interest– Uniqueness– Liking– Value– Frequency and quantity of consumption
• High-level sales expectations
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Detailed Evaluation:Make big ideas bigger
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Improve the ideas that already have potential to win
• Optimize– Consumer adoption process:
• Stand out among competition• Clearly communicate the message• Drive interest by addressing a need or want better than other products do• Avoid barriers at the point of purchase• Delight – exceed expectations
• Assess concept-product fit early in the NPD process
• Set appropriate volumetric expectations
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Develop, test, deploy
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Launch: Presentation is essential
• Execute with excellence– Continuous launch tracking– Course-correct as necessary
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PLR: Don’t tell fish tales – get the story right
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PLR: Validate and learn
• Plan vs. execution
• Sales expectations vs. actual
• Lessons learned
• Total system accuracy
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Total system accuracy
Idea
Concept
Planned proposition & support Sales forecast
Actual salesActual proposition and support
Was Idea Screen predictive of concept performance?
Was Surface Evaluation predictive of later-stage performance?
Was the forecast accurate?
Was the launch executed with excellence?
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Thank you!
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