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Isb 2

The document provides an overview of the new product development process, from generating ideas to launching a product. It discusses stages of product design, concept testing, and test marketing. Examples are given of redesigning a kids' toothbrush and milkshake based on customer needs. The role of marketing in product development is explained, covering target markets, positioning, and the marketing mix. Creating value for customers is a key focus, with examples demonstrating how to reduce costs and improve customer benefits.

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Krishna Kishore
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56 views92 pages

Isb 2

The document provides an overview of the new product development process, from generating ideas to launching a product. It discusses stages of product design, concept testing, and test marketing. Examples are given of redesigning a kids' toothbrush and milkshake based on customer needs. The role of marketing in product development is explained, covering target markets, positioning, and the marketing mix. Creating value for customers is a key focus, with examples demonstrating how to reduce costs and improve customer benefits.

Uploaded by

Krishna Kishore
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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PM: Product Management and Development

Week 2– Product Development Process


Module Overview
Learning Outcomes
New Development Process:
Overview
New Product Development Process
New Product Development Process
New Product Development Process
Design Thinking Approach
Stage 1- Start with an Idea or a Market Opportunity
Converting the idea into a Product
Opportunity Identification- Idea Generation
Stage 2 -The Product Design Stage
Concept Testing and Development
Stage 3 - Pre-test Marketing methods
Test Marketing and Launch
How to Position the Concept?
Market Dynamics
New Product Development-Challenges
Customer Needs and Behaviour
Example 1: Kids’ Toothbrush
Kids’ Toothbrush: Initial Design
Kids’ Toothbrush: Redesigned
Customer Needs
Toothbrush: Customer Needs
Toothbrush: Customer Needs
Example 2: Milkshake for a Fast Food Joint
Milkshake Product: Initial Design
Milkshake for a Fast Food Joint
Needs of Customer Group I
Customer Group I
Customer Group II
Customer Needs and Behaviour
Types of Needs
Types of Needs
Types of Needs
Role of Marketing
Marketing Management Process
Marketing Management Process
Targeting Decision
Targeting Decision
Poor Brand Positioning
Brand Positioning Strategy
Strategic Marketing
Marketing Mix
Marketing Mix
Value Proposition
Marketing Strategy
Marketing Strategy- 4Ps Example
Value Proposition- Example
Key Learnings
First Stage- Product Development Process
Strategic Marketing Mapped to Product Development
Second Stage – Product Development Process
Value for Customers
Customer Value- An Example
Customer Value- An Example
Concept of Value
Concept of Value
Creating a Perception of Superior Value
Customer Benefit Dimensions
Reducing Cost Of Purchase- An Example
Reducing Cost Of Purchase
Reducing Cost Of Purchase
Reducing Cost of Purchase
Reducing Cost of Purchase
Value Creation
Value Curves
Value Curves
Value Curves
Value Curves
Examples of Creating Value for
Customers
Example of Customer Value Creation: The Sale of Eggs
Consumer Perceptions
Value Creation
Customer Value (B2C)
Customer Value: Ethicon
B2B Decision Making Unit
Varying Level of Influence
SGPGI Without Ethicon
SGPGI With Ethicon
Case Study: Johnson & Johnson –The Problem
Case Study: Johnson & Johnson- The Solution
Customer Value Issue: Yebhi
Yebhi: Value Planned vs. Value Realised
Customer Experience in Nanosecond World
Customer Value Issue: Example 2
Creating Superior Value: Summary
Summary
Product Development- An Overview
Product Development- An Overview
Product Development- An Overview

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