New Product StrategyWord下载.docx

New Product StrategyWord下载.docx

《New Product StrategyWord下载.docx》由会员分享，可在线阅读，更多相关《New Product StrategyWord下载.docx（9页珍藏版）》请在冰豆网上搜索。

∙Projectedfinancialimpact

Otherimportantconsiderations:

howdoestheproposednewproductscreenagainstyourcurrentmarketingstrategies?

Willitdilutethefocusofthecompany'

soverallplan?

Isthereadangerthatitwilldrainvaluableresourcesfromothermoreprofitableventures?

Useyourexistingmarketstrategyasaguideline,"

Webbadvises."

Knowhowyourtargetbuyerswillgreettheproposednewproduct.Makesureitfitsintoyourcompanymission."

Ideally,theTECexpertssay,newproductdevelopmentshouldtakeplacewithinanongoing"

climateofinnovation."

Forthistohappen,everyonefromtheCEOondownshouldagreeonspecificprinciples,including:

∙Wewillhonorideagenerationwhethertheideaworksordoesn'

t.

∙Wewilllearnfromfailure.

∙Wewillencouragecreativityskillsamongallstaff.

∙We'

recommittedtogettingthebestideasfromemployeesandcustomers.

Newproductstrategyreliesonexhaustiveanalysisofthecompanyitself（internal）andthemarketplaceatlarge（external）."

Doyouknowtheextentofyourcurrentproductline'

sstrengthsandweaknesses?

asks."

Areyoufullyapprisedoftechnologyneedsforthisline?

Aretheregapsordeficienciesthatshouldbeaddressedbeforeembarkingonnewproductdevelopment?

Youshouldknowyourcompetitors,too.Whenitcomestoproductdesign,productionengineering,marketingandfinance,whataretheirstrengthsandweaknesses?

And,ofcourse,thebottom-linestrategicconcern:

profitability.

Profitabilityshouldbeassessedateachstageofdevelopment,frommanufacturingtolaunchtocustomerservice,"

Webbsays."

Thisassessmentincludescalculatingfixedandvariablecosts,expectedsalespriceandanticipatedsalesvolumes.Newproductdevelopmentiscostlybutthosecostscanbeestimatedandmanaged."

KnowWhatYou'

reGoingFor

Anynewproductventuremustdemonstrateastronglinktothecompany'

soverallbusinessstrategy,accordingtoGoozé

andWebb.Withinthiscontext,certaingoalsshouldbemet:

∙Cost--Estimatethemanufacturingcostoftheproposednewproduct（includingcapitalequipment,toolingandtheincrementalcostofproducingeachunit）.

∙Developmenttime--Setatimeframefortheproductdevelopmenteffort,basedonhowresponsivetheteamcanbetoexternalforcesandtechnologicaldevelopments.

∙Quality--Thenewproductmustsatisfycustomerdemand.Itsqualitywilleventuallydeterminemarketshare,aswellasthepricecustomersarewillingtopayforit.

Besuretoallocatesufficientmarketingresourceswhenlayingoutyourgoals,"

advises."

Thisincludesresourcesforadvertising,publicrelationsandpromotion.Whatsenseisthereinlaunchinganewproductwithoutbeingabletospreadthewordaboutit?

Anotherhelpfulinternalgoal:

employeetraining.Staffmembersneedtobeeducatedonhowtouseandpromotethenewproduct.It'

salsoagoodideatoplanforcustomertraining--inordertoenhancepotentialforusersatisfactionandasanotherpotentialsourceofincome.Customersareoftenwillingtopayalittleextratogetmorefromanew（orimproved）product.

Speed!

Speedinproductdevelopmentisadistinctcompetitiveadvantage,"

Webbsays,"

butusecaution.Speedindevelopmentshouldnevercomeattheexpenseofquality."

Theadvantagesareclear-cut:

respondingtocustomerneedsandbeatingcompetitorstomarketoftenresultinsuccess,particularlyinhigherprofitability.Bearinmindthatallproductshavealimitedlifecycle,sogettingtomarketfirstgenerallymeanssalerevenueswillberealizedearlierandwilllastlongerthanimitationor"

me,too"

products.

Speedydevelopmentandlaunchalsoincreasetheoddsthattheoriginalconceptionisstillinsyncwithcustomers'

predictedneed,"

notes."

Ashorttimeframemakesitmorelikelythatmarketconditionswillbefavorablefortheeventuallaunch."

BothTECexpertswarn,however,thatspeedinandofitselfisnoguarantorofsuccess.Manymethodsinvolvedingettingtomarketaheadofotherscanactuallyendupcostingmoremoney.Reducingproducttestingtimecouldresultinproductperformanceproblemslateron,includingaddedwarrantyandservicingcosts--andthatcantranslateintocustomerdissatisfaction,amajornegative.

Speed-to-marketworksbestifyou'

rereadytoselleffectively,"

says."

Thatmeanswhenallfunctions--engineering,sales,channelpartners,customersupport--arepreparedtogo."

Tofurtherimprovethechancesofsuccess,Webbadvises:

∙Doyourhomework.Starttheprocesswithclear-cutspecifications.

∙Havetherightteaminplace.Anysincerenewproductventuremusthaveadedicatedprojectleaderandmultifunctionalteaminplaceattheoutset.

NewProductDevelopment:

anOverview

SupportingInnovation

Amongthemanychallengesbusinessesface,perhapsnoneisascrucialasthemandatetochangeandgrow.Ifcompaniesstaystill,theydie.Oneareawheremanycompaniesattempttochange--andalltoooftenfail--isnewproductdevelopment.

Whydotheseventuresfail?

AccordingtoTECnewproductdevelopmentexpertsMitchGoozé

andNickWebb,manybusinesseseitherexpendtoomuchenergygeneratingavarietyofnewproducts（withoutnecessaryforethought,screeningortesting）ortoolittleenergy（preferringto"

staythecourse"

withtheirexistingproductline）.

Slowandploddingdoesn'

tgetthejobdone,"

Withoutinnovation,businessesfallpreytoaggressivecompetitors,whichinturnleadstowavesofcustomerdefectionswhensomeoneelse'

sproductoutstripstheirs."

Ofcourse,noonesaysproductinnovationiseasy.Accordingtostudies,threeoutoffournewproductventuresfailinthemarketplace;

asizeablefractionofthesenewproductsdon'

tevenmakeittomarket.

Companiesmostoftensucceedinnewproductdevelopmentwhentheyleveragetheirowncorecompetencies.Theremustbestronglinksbetweenthenewproductandacompany'

s:

∙Resources

∙Marketingexpertise

∙Distributionchannels

∙Sales

∙Technologyandoperations

Withoutthesecorecompetenciesinplace,youshouldn'

tevenbecontemplatinginnovation,"

Webbadvises.

Thegoodnewsis,businessescandesigninternalrolesandstructurestosupportnewproductdevelopment.Startbyrecognizingthattheprocessessentiallytouchesoneverythingyourbusinessdoes.

Innovationstimulatesthecompanyfromtoptobottom,"

Asnewproductsprogressfromideatoreality,allfunctionsbecomeinvolved--frommanufacturing,supplychainanddistributiontomarketingandcustomerservice.Theprocessrequiresthecompany'

sexecutivestothinklongandhardaboutthechangingneedsoftheircustomerbase,aswellasthethreats--realandimaginary--posedbythecompetition."

Goozé

stressestheroleofmarketing,inparticular.Marketingconsiderationsshouldstartwhenthenewproductisstillonthedrawingboard,hesays.Askallthebasicquestions,suchas:

∙Whoisthisnewproductfor?

∙Howwillitbeused?

∙Howdoesitfitintoourcurrentlineandhowwillitaffectourfutureproducts?

Marketresearch,whetherconductedin-houseorthroughanoutsideagency,isthefirstessentialsteptowardbuildingawelcomeresponsetoyournewproductinthemarketplace."

Webburgescompaniestosearchexhaustivelyfortherightproductadvantage."

Earlyon,identifypreciselywhatyourcustomerswantandneed,"

hesays."

Usecustomer-focusedresearchtoguidetheprocess.Usethatsameresearchtopinpointwhatworksandwhatdoesn'

tinyourcompetitor'

sofferings.Whenyougettotheprototypestage,gotocustomersandtest,test,test."

DefiningGoals

Soyou'

reconsideringaddinganewproducttoyourline.Haveyoulookedattheprocess（andproposedoutcome）fromastrategicperspective?

Doyouhaveclearandmeasurablelong-termgoals?

Withoutmeasurablegoals,youhavenobenchmarkstotrackperformance,"

It'

sequallyimportanttodeterminehowthenewproductislinkedtoyouroverallgoalsandstrategy.Thefithastoberight,oryourisksubstantiallosses."

Innovationdoesn'

toccurinavoid.Itmustbetiedtoongoingbusinesspriorities.

Otherattributesofclearly-definednewproductgoals:

∙Guidesselectionofdevelopmentprojects

∙Definestargetmarkets,competitivestrengthsandweaknesses,andangleofattackinthemarketplace

∙Differentiatesyournewofferingfromthecompetition

∙Offersstaffasenseofdirectionandpurpose

Establishedgoalshelpdetermineascheduleforcompletionofprojects,"

They'

realsoessentialinestimatingdevelopmentcostsandresourcerequirements,withinthecontextofyourlargerbusinessplan."

SuccessFactors

Awiderangeoffactorsgoesintothesuccessfuldevelopmentandlaunchofanewproduct,buttheleadingfactor,accordingtoGoozé

andWebb,isdifferentiation.Aproductthatgenuinelysetsitselfapartfromotherssucceedsbycapturinglargermarketshareandmeetingotherlong-rangesalesobjectives.

Thismayseemobvious--butifso,whyaretheresomany"

met