Marketing bit by bit- how to make new products quickly into the market-.doc

 PAGE \* MERGEFORMAT 6 Marketing bit by bit: how to make new products quickly into the market? Philips in the Netherlands, a global consumer electronics giant, in 1972, the company introduced to the market first video, more than three years ahead of Japanese competitors. However, Philips has spent a total of seven years to develop 2nd-generation video recorder products, while Japanese manufacturers during this period has been introduced for at least three generation of new products. Philip has become its own product development process slow the victim of attacks by competitors in Japan, never able to do something next. This phenomenon is very typical in today’s rapidly changing, highly competitive environment, the slow introduction of new products will lead to the failure of product development, and loss of sales and profits and market position. ‘Fast market’, and shorten the new product development ‘cycle’ has become an urgent concern for all businesses. ‘ Large companies generally have adopted ‘orderly product development law’, that is based on a series of orderly steps to develop new products. Companies each department completed this stage of product development steps down after mass, a bit like a relay race. Orderly development of this method has its advantages, the performance of it so that the risks and complexity of new product development projects in an orderly, but the disadvantage of this approach is ‘slow’. In order to speed up product development cycles, many companies have adopted a faster, team-oriented approach - the same time, product development method. This approach is no longer the new products from one department to another department, but by the companies drawn from different sectors of a group of people responsible for new product development, from the beginning until the end. These team members usually come from the marketing department, finance department, design department, manufacturing department and legal department, and even supp