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New Product & Services Development Sunway Extreme Park By WW 19 Nov, 2006.

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Presentation on theme: "New Product & Services Development Sunway Extreme Park By WW 19 Nov, 2006."— Presentation transcript:

1 New Product & Services Development Sunway Extreme Park By WW 19 Nov, 2006

2 Introduction Sunway Extreme Park is Malaysia's first and only theme park dedicated to motorized and outdoor adventure sports within a place Founded on Nov 2003 The park covers 150 acres EP poised to become the leading outdoor activity hub in Malaysia, drawing in visitors from and around Malaysia as well as internationals.

3 EP features on assortment of thrills and heart pumping adventures like Go-Karting, All Terrain Vehicle (ATV) & Paintball to meet every extreme need.

4 Mission Become the leading motorized and outdoor adventures activity hub in Malaysia and South East Asia Introduce and Continuous provide the excitement of extreme games to X-game lover

5 Situation Analysis Threaten by the growth of competitors Niche market discourage the growth of company Lack of excitement on existing activities Lack of manpower Insufficient use of company fund Slow growing of revenue Products are more expensive than competitor

6 Threaten by the growth of competitors Product/ Year Go-KartATVPaintball 2003100 2004102 2005305 2006529

7 Situation Analysis Threaten by the growth of competitors Niche market discourage the growth of company Lack of excitement on existing activities Lack of manpower Insufficient use of company fund Slow growing of revenue Products are more expensive than competitor

8 Slow growing of revenue

9 Situation Analysis Threaten by the growth of competitors Niche market discourage the growth of company Lack of excitement on existing activities Lack of manpower Insufficient use of company fund Slow growing of revenue Products are more expensive than competitor

10 ProductQuantityPrice (EP) Price (Competitor) Paintball3 Section – 100 pallets MYR 70MYR 50 Go- Kart8 LapsMYR 15 Go- KartMini Grand Prix (26 laps) MYR 55MYR 40 ATV20 minutes Scenic ride MYR 60> MYR 70

11 Implement Stage-Gate process Discovery Gat e 2 Stage 1 Scoping Gat e 3 Stage 2 Build Business Case Gat e 4 Stage 3 Develop- ment Gat e 5 Stage 4 Testing & Valida- tion Stage 5 Launch Gat e 1 Post Launch Review All Stage: Prepare by team members All Gates: Censor by upper management & Consumer

12 The way of breakthrough Ideas Look for disruption in customer’s industry Use of Customer Research to uncover new opportunities Work with Lead or Innovative customers Ideas from Suppliers Ideas Bank Harness the creative ability of the entire Organization Discovery G2G2 Stage 1 G3G3 Stage 2 G4G4 Stage 3 G5G5 Stage 4 Stage 5 G1G1 Post Launch Review

13 Discovery of New Product New Innovation Product e.g. Product never been in the market before, new ideas New Product Lines e.g. import existing activities in available in he market, like bungee jump, jet ski, buggies, rock climbing, etc Additional existing Product line e.g. dirt kart, beginner & intensive ATV, buggies Improvement Revisions to existing products e.g. New track for go kart, new game design for paintball, Reposition e.g. The product change the target towards ladies player, Cost reduction Product e.g. reduce the existing price or associate with promotion or package. Discovery G2G2 Stage 1 G3G3 Stage 2 G4G4 Stage 3 G5G5 Stage 4 Stage 5 G1G1 Post Launch Review

14 “Must Meet” & “Should Meet” criteria Go/Kill point We might have more than 100 ideas from the discovery stage, and here is the stage we censor it till only about 10 ideas left Does the ideas : - fit with company policies? - opportunities and Market attractiveness? - Killer Variables, eg environmental issues, legislative actions - can be developed and produce Discovery G2G2 Stage 1 G3G3 Stage 2 G4G4 Stage 3 G5G5 Stage 4 Stage 5 G1G1 Post Launch Review

15 Inexpensive & Desk research Preliminary Market assessment Preliminary technical assessment Preliminary Financial/business assessment e.g. internet research, from agency like A.C Nielsen, Library research, existing company data, etc Discovery G2G2 Stage 1 G3G3 Stage 2 G4G4 Stage 3 G5G5 Stage 4 Stage 5 G1G1 Post Launch Review

16 “Must Meet” & “Should Meet” criteria Go/Kill point In this gate, we need to screen and left only 2-3 ideas Repeat Gate 1 criteria screening Start involving accounts/sales team + Pay back period + Simple Financial calculation Discovery G2G2 Stage 1 G3G3 Stage 2 G4G4 Stage 3 G5G5 Stage 4 Stage 5 G1G1 Post Launch Review

17 Detailed Investigation Market analysis – Market investigation and market research Users’ preference, need and wants study Competitive analysis Detailed technical assessment Concept testing Financial and business analysis Essentials and design of the product features attributes, requirements and specification Discovery G2G2 Stage 1 G3G3 Stage 2 G4G4 Stage 3 G5G5 Stage 4 Stage 5 G1G1 Post Launch Review

18 “Must Meet” & “Should Meet” criteria Go/Kill point Repeat Gate 1 Gate 2 criteria screening CHOOSE “THE 1” = “ Go to a heavy spend” !! Discovery G2G2 Stage 1 G3G3 Stage 2 G4G4 Stage 3 G5G5 Stage 4 Stage 5 G1G1 Post Launch Review

19 Development In house tests Parallel marketing & operations Market launch plans Continue - Customer feedback & Marketing analysis Updated financial analysis Regulation, legal and patent issues are resolved Discovery G2G2 Stage 1 G3G3 Stage 2 G4G4 Stage 3 G5G5 Stage 4 Stage 5 G1G1 Post Launch Review

20 “Must Meet” & “Should Meet” criteria Go/Kill point Check on the progress and the attractiveness of the product Financial analysis Go to test!! Discovery G2G2 Stage 1 G3G3 Stage 2 G4G4 Stage 3 G5G5 Stage 4 Stage 5 G1G1 Post Launch Review

21 Testing and Validation Test on: - Product itself - Production process - customer acceptance - economics of the projects e.g. In house product test, users at field trials, pre-test the market, revised the business and financial analysis. Discovery G2G2 Stage 1 G3G3 Stage 2 G4G4 Stage 3 G5G5 Stage 4 Stage 5 G1G1 Post Launch Review

22 “Must Meet” & “Should Meet” criteria Go/Kill point Operations & Marketing plans review Quality of testing Quality of validation Financial review Launch!! Discovery G2G2 Stage 1 G3G3 Stage 2 G4G4 Stage 3 G5G5 Stage 4 Stage 5 G1G1 Post Launch Review

23 LAUNCH!!! Discovery G2G2 Stage 1 G3G3 Stage 2 G4G4 Stage 3 G5G5 Stage 4 Stage 5 G1G1 Post Launch Review

24 Review period = 6-12 months after the product launch Review costs Review profits Review strengths Review weaknesses Review what learned Discovery G2G2 Stage 1 G3G3 Stage 2 G4G4 Stage 3 G5G5 Stage 4 Stage 5 G1G1 Post Launch Review

25 http://www.extremepark.com.my/park map/index.html


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