Product Development
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Transcript of Product Development
Session Objectives?
Delegates understand the importance of product
development
Delegates understand how to use product
development
CUSTOMERS
PROFIT
INTERNAL PROCESSES
People & Infrastructure
CUSTOMERS SUSTAINABILITY
IMPACT
INTERNAL PROCESSES
People & Infrastructure
An organization is created because
of it’s vision;
An organization exists because
it provides product to the market.
Our program„s market value is how we choose and package our products for the customers
Market Value(Product)
We need to constantlydevelop and differentiate
our products to make them
relevant for our partners;
to answer market needs
Definition
a creation, innovation,
enhancing the utility or
continuous improvement of
earlier characteristics of an existing
product or developing an
entirely new kind of product to
fulfill the customers’ requirements.
WHAT ?
Create the prototype of product and test it on
customers.
Separate good product ideas with the bad ones
inexpensively..
Identify product’s features and its marketing
strategy, as well as its financial projections.
Develop concepts for possible product.
Product Development Stages
Position and offer product in the marketplace.
Test product and marketing strategy in the marketplace
on a limited scale.
Product Development Stages
IDEA GENERATION
A continuous, systematic search for newproduct opportunities.
It involves delineating sources of newideas and methods for generatingthem.
Ideas for new products can be obtainedfrom basic research using a SWOTanalysis or using a Product LifeCycle
Review of Product Costs, Sales, and Profits
Projections to see if they meet company
objectives
If yes,
move to the next stage
If no,
eliminate the
product concept
Divide yourself into 6 groups
and create
product development planning
based on cases given by the co-facis
s