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PRODUCT DESIGN AND DEVELOPMENT

PRODUCT DESIGN AND DEVELOPMENT. 15.823 SPRING 2001 GLEN L. URBAN. NewProd01. OUTLINE. NEW PRODUCT DEVELOPMENT PROCESS REALLY NEW PRODUCTS --INFORMATION ACCELERATION “LISTENING IN” -- Advisor/Virtual Engineer IMPLICATIONS FOR INTERNET TESTING CONVENTIONAL PRODUCTS ON THE INTERNET

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PRODUCT DESIGN AND DEVELOPMENT

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  1. PRODUCT DESIGN AND DEVELOPMENT 15.823 SPRING 2001 GLEN L. URBAN NewProd01

  2. OUTLINE • NEW PRODUCT DEVELOPMENT PROCESS • REALLY NEW PRODUCTS --INFORMATION ACCELERATION • “LISTENING IN” -- Advisor/Virtual Engineer • IMPLICATIONS FOR INTERNET • TESTING CONVENTIONAL PRODUCTS ON THE INTERNET • DESIGNING INTERNET PRODUCTS NewProd01

  3. FAILURE • WHAT IS FAILURE RATE OF PRODUCTS INTRODUCED TO THE MARKET? • WHY FAIL? • IMPLICATIONS FOR INTERNET STARTUPS? NewProd01

  4. SUCCESS OF COMMERCIALIZED NEW PRODUCTS Unsuccesful 33% Unsuccesful 33% Successful Met Company Criteria 65% Successful Met Company Criteria 65% 1963 - 1968 1976 - 1981 NewProd01

  5. ANA - 1984 • 138 Member Firms • 43 of 100 Top Advertisers • 74% Packaged Goods • 12% Durables • 12% Industrial • 9% Services FAILURE RATE (Not Meet Business Objectives) • Line Extensions 27% • New Brand/Existing Category 31% • New Brand/New Category 60% NewProd01

  6. 1990’s(Cooper and Kleinschmidt 1994 • 203 Industrial New Products -- 50% Fail • 103 Chemicals -- 35% Fail • (21 Firms in N. A./Europe) Market Success • Superior Product (Unique, Value, Quality, • Physical Benefits, Visible) • Market Driven (Market Study, Customer Tests) • Up Front Homework/Product Definition • Cross functional Team/Strong Leader NewProd01

  7. Market Too Small Not New/Not Different Poor Positioning Forecasting Error Competitive Response Change in Customer Tastes Poor Repeat/Diffusion Low ROI Organizational Problems Poor Match for Company No Real User Benefit Little Channel Support Poor Timing Shift in Technology Change in Environment Poor Service Lack of Coordination Poor Quality Causes of Failure NewProd01

  8. NewProd01

  9. INTERNET STARTUP • WHAT IS CHANCE OF SUCCESS? • IDEA • BUSINESS PLAN • LAUNCH • IPO • HOW TO MAXIMIZE SUCCESS? • RESEARCH • TIMING NewProd01

  10. NEW MARKET EXISTING EXISTING NEW PRODUCTS NEW PRODUCT ARENAS NewProd01

  11. STATE OF THE ART • PROCESS ENHANCEMENTS • INFORMATION ACCELERATION • LISTENING IN • IMPLICATIONS FOR INTERNET NewProd01

  12. Proven Methods • Customer Active Paradigm • Focus Groups / Voice of Customer • Order of Entry • Multi-Dimensional Scaling/Conjoint • QFD • Lead Users • Concept/Product Testing • Laboratory Test-marketing • Information Acceleration • Stochastic Models • Electronic Measurement • Life Cycle Modeling • Scanner Data/Brand Management/D.S.S. OPPORTUNITY IDENTIFICATION DESIGN PRE-MARKET TESTING TEST-MARKET LAUNCH AND LIFE CYCLE MANAGEMENT New Product Process and Proven Marketing Methods NewProd01

  13. ENHANCEMENT INNOVATION AND BUSINESS STRATEGY • Proactive Budgeting -- 25% • Technology/Customer/Production/Engineering • Organization -- Large Scale to Start Up • “Really New” -- Create Markets • Needs vs. Desire • Global Team -- 24 Hour work Day • CBP Specs Design Sophistication • Virtual Prototyping • Platforms and Architecture -- Process Intensive • Premarket Forecasting -- Risk Management • Virtual Testing • Model Response - Specs -- Cost • Marketing world-wide • Channel Power/Remote Buying • Little Protection -- Pioneering Benefits • Elaborate For Segments • Rejuvenation Cycle • Learn from Failure OPPORTUNITY IDENTIFICATION DESIGN TESTING INTRODUCTION PROFIT MANAGEMENT NewProd01

  14. PRIUS NewProd01

  15. NewProd01

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