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New Product and service development

New Product and service development. AP S 2011 Final project: Week 4. Company Overview: Nokia Inc. $ 50 Bn Fortune 500 company Over 1.5 Billion handsets active in the world 35%+ market share in smart phones market Working Overview: (presentation in focus)

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New Product and service development

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  1. New Product and service development AP S 2011 Final project: Week 4

  2. Company Overview: Nokia Inc. • $ 50 Bn Fortune 500 company • Over 1.5 Billion handsets active in the world • 35%+ market share in smart phones market Working Overview: (presentation in focus) • 130,000+ employees in 120 countries • Over 150 Vendors for creative/Technical and local needs on retainer basis • 15 Vendors billing more than $ 500 Million to $ 1.3 Billion • Minimum 50+ campaigns rolled out in different form per week I work on Marketing Mobile media products in 74 countries/68 languages

  3. Current ASSET (creative) DEVELOPMENT process • Campaign is Planned (Product/Service…) • Agency is briefed on making campaign theme/creative/assets • Agency works under deadline (typically very short) • Creative once ready …. • Ad-hoc • Last Minute • Poor results • Duplication of Assets • Re-work • More billing • Hiring/firing

  4. Reduces the chaos • Reduces TAT • Brings down costs • Brings more choices of assets for marketers in different markets • Process to generate more effective assets faster and cheaper Need a Solution!

  5. NPSD funnel in Asset Development Creating an asset bank via NPSD funnel process. Where every asset is a new product!

  6. Ideation • Agencies and vendors from all over the world will submit copy text, photographs, sketches and concepts in Idea bank for selection • Screen: • Meets broad brand guidelines (cross-life/race/religion/cult) • Target: 3000 to 5000 assets per week

  7. Expansion & surface evaluation • Assets and creative which target to at least one of the target segments will be selected– (4 user segments in company as per market research) • Screen: • 4 user segments i.e. target groups • Target: 1500 assets

  8. Detailed Evaluation & CFD • Assets with right weight/sizes will pass for CFD gate • CFD – People from all locations, teams (product/marketing/research) will be nominated as voters in rotation (3 months) to vote on assets passed through Detailed evaluation stage • Target: 450 to 500 assets with at least 3 star rating (via vote)

  9. TEsting • Rated assets will be tested on 10% user base in common or original language • Agency/Vendor will be paid for the asset • Testing gate: click rate, referrals and lead generation numbers • Target: 200 to 300 top performing assets • Non- performing assets will be tested with different image and copy combination

  10. Deployment • Top performing assets will be sent for translation and interpretation in 72 languages (Nokia business location languages) • Localized assets will be made ready for use (launch) – sizing/re-formatting • Target: 300 assets – localized and ready for use

  11. Launch/Post-launch • Assets will be kept in asset bank tool and will be used in marketing campaigns • Post launch: • Asset’s performance report will be re-submitted in asset rating • Performance report will go to corresponding vendor/agency for learning • Asset exit cycle will start:

  12. Thanks

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