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    The Menu

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    Eric
    The document discusses various topics related to new product development including: 1. It defines what constitutes a new product and provides examples of common new product categories such as new-to-the-world products, new category entries, additions to product lines, and product improvements. 2. It explains why product development is important for companies as new products can be physical or service-based and are the lifeblood that allows companies to grow. 3. Additional sections cover new services, business-to-business products, international products, and the conflicting priorities of quality, value, time and cost in new product management. 4. The document concludes with a brief definition of breakthrough innovations as those that provide greater

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    The Menu

    Uploaded by

    Eric
    42 views13 pages
    The document discusses various topics related to new product development including: 1. It defines what constitutes a new product and provides examples of common new product categories such as new-to-the-world products, new category entries, additions to product lines, and product improvements. 2. It explains why product development is important for companies as new products can be physical or service-based and are the lifeblood that allows companies to grow. 3. Additional sections cover new services, business-to-business products, international products, and the conflicting priorities of quality, value, time and cost in new product management. 4. The document concludes with a brief definition of breakthrough innovations as those that provide greater

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    The document discusses various topics related to new product development including: 1. It defines what constitutes a new product and provides examples of common new product categories such as new-to-the-world products, new category entries, additions to product lines, and product improvements. 2. It explains why product development is important for companies as new products can be physical or service-based and are the lifeblood that allows companies to grow. 3. Additional sections cover new services, business-to-business products, international products, and the conflicting priorities of quality, value, time and cost in new product management. 4. The document concludes with a brief definition of breakthrough innovations as those that provide greater

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    42 views13 pages

    The Menu

    Uploaded by

    Eric
    The document discusses various topics related to new product development including: 1. It defines what constitutes a new product and provides examples of common new product categories such as new-to-the-world products, new category entries, additions to product lines, and product improvements. 2. It explains why product development is important for companies as new products can be physical or service-based and are the lifeblood that allows companies to grow. 3. Additional sections cover new services, business-to-business products, international products, and the conflicting priorities of quality, value, time and cost in new product management. 4. The document concludes with a brief definition of breakthrough innovations as those that provide greater

    Copyright:

    © All Rights Reserved
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    of 13

    CHAPTER 1

    “ THE MENU “
    Overview
    • What is new product ?
    • The important of product management
    • What is new services, Business-to-business
    product and international product?
    • The conflicting masters of new product
    management
    • Breakthrough innovations
    What is new product?
    • It is a repositioning of an old one
    (Telling to the customers it is
    something else)?, even with the
    same brand name. these may be
    considered just new uses, but the
    firm’s process of discovery and
    development are the same.
    What is new product?
    • These are goods and services that differ
    significantly in their characteristics or intended
    uses from products previously produced by the
    firm. The first microprocessors and digital
    cameras are examples of new products using
    new technologies. The first portable MP3 player,
    which combined existing software standards
    with miniaturized hard-drive technology, was a
    new product combining existing technologies.
    Commonly accepted
    categories:
    1. New-to-the-world product : Product that are
    inventions for example Polaroid camera, the
    first car, rayon, the laser printer, in-line
    skates.
    2. New Category entries : Products that take a
    firm into a category new to it. Products are
    not new to the world; e.g., P&G’s first
    shampoo, Hallmark gift items, AT&T’s
    Universal Card
    Commonly accepted
    categories:
    3. Addition to product lines: Products that are line
    extensions, flankers, etc., in the firm’s current markets:
    e.g., Tide Liquid detergent, Bud Light, Apple’s Mac list.
    4. Product improvements: Current products made
    better, virtually every product on the market today has
    been improved, often many times.
    5. Repositions: Product that are retargeted for a new
    use or applications; the classic is Arm & Hammer
    baking soda, which was repositioned several times as
    drain deodorant, refrigerator deodorant, etc.
    Why Product Development is
    Important
    • New Products development is the life
    blood of companies. The new products
    could be a physical tangible product
    such as an automobiles, smartphones,
    or coffee maker machine. It could also
    be services like IT software, new
    production process, or a new
    marketing concept.
    What is new services
    • Services management includes a wide
    range of management activities, ranging
    from the time that there's a new idea for a
    service to eventually providing ongoing
    support to customers who have acquire the
    new product. Every organization conducts
    service development, whether it's done
    intentionally or unintentionally.
    Business to Business Product
    • Business to business, also called B to B
    or B2B, is a form of transaction
    between businesses, such as one involving
    a manufacturer and wholesaler, or a
    wholesaler and a retailer. Business to
    business refers to business that is
    conducted between companies, rather
    than between a company and individual
    consumers.
    What is International product
    • International Product Development, more
    commonly known as IPD or IPDUSA, is an
    automotive aftermarket company that
    manufactures and sells high-performance
    upgrade components for Volvo brand
    automobiles. IPD was started in 1963, by
    two friends, (Richard Gordon and Garry
    Small), who worked at an import car
    dealer.
    The conflicting masters of new
    products management

    Quality

    Value

    Time Cost
    The conflicting masters of new
    products management
    • The new products process must respond
    to the three unique inputs- the right
    quality product, at the right time, and at
    the right cost.
    • The three inputs tend to conflict with each
    other, though there are synergies too.
    • The three inputs contribute to the value of
    new products, but in different ways and in
    different amounts from project to project.
    Breakthrough Innovations
    • Breakthrough Innovation takes a
    current process or product and
    typically provides greater efficiency or
    cost effectiveness. It can be
    considered Disruptive if that
    increased efficiency or cost
    effectiveness threatens to make the
    competition's business model
    obsolete.

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