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New_Product_Development

New Product Development Strategy, Tactics Process Anand Subramaniam “Knowledge speaks, but wisdom listens. 2 - Jimi Hendrix Highlights  NPD - Strategy  NPD - Design  NPD - Types  NPD – Process 3  NPD - Levers Reason for New Product Failures  Overestimating market size  Poor marketing research  Design problems  Excessive development costs 4  Incorrectly positioned, priced, or advertised  Competitive reaction New Product Development Strategy New Product Development Strategy  Original products  Acquisition  Product improvements  Product modifications 6  New brands through the firm’s own RD efforts. NPD - Value Add NEW PRODUCT DEVELOPMENT 7 GROWTH PRODUCTIVITY IMPROVEMENT BRAND MAINTENANCE QUALTITY ? Line Extensions ? New Products ? New Packages ? Reduce Cost ? Formulas ? Packages ? Manufacturing ? Quality of Design ? Conformance ? Special Situations ? Regulatory ? Environmental ? Specifications NPD Strategy - Planning Levels Mission Objectives Mission Objectives PRODUCT STRATEGY Business Units Identity Company Strategy 8 ?Technical Competencies ?Strategic Principles ?Organisation ?Alliances ?Project Mix ?Milestones ?Resource Levels PRODUCT PORTFOLIO STRATEGY ?Resource Allocations ?Technical Approaches ?Timing ?Deliverables PRODUCT DEVELOPMENT STRATEGY Categories Brands Projects Business Strategy Portfolio Strategy Project Strategy Cross Functional Team Technology Quality Packaging Engineering/Process Engineering Quality Safety Research Development Marketing Marketing Research Sales 9 Industrial Engineer Mechanical Engineer Legal Affairs Manufacturing Operations Logistics Procurement Supply Chain Quality ControlFinance Admin New Product Development Design Product Design Specification PatentsEnvironment Materials Shelf life Packing Competition Weight Quantity Safety Testing Legal Maintenance Politics 11 Disposal Shipping Size Processes Customer Timescale Ergonomics Aesthetics Installation Performance Service life Plant Standards Quality

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