Presentation on theme: "New Product and Services Development"— Presentation transcript:
1 New Product and Services Development CMNYNew Product and Services DevelopmentStage Gate ProcessKeltse Bilbao 2006
2 MissionCMNYBecome the first communication agency in the local market for Spanish and Latin American companies
3 ObjectivesCMNYTo represent different Spanish Governments in NY as Andalucia and NavarraFoment the promotion of the entrepreneurial relationship between Spain and United States offering business opportunities to exporting companiesIncentive the investment and commerce between both countriesGain opportunities with Spanish companies from this relationship to offer them marketing strategies
4 Communication agency with a personalized service VisionCMNYCommunication agency with a personalized serviceUnique plan for each companyServiceAccessibleResults oriented
5 CMNY SWOT analysis STRENGTHS WEAKNESSES OPPORTUNITIES THREATS Global marketing campaignsPersonalized services to clientsGreat relation with Spanish companies andpotential customersActual clients: MIT companies, technologycompanies, Extenda and NavarraTend of Spanish companies to work withSpanish agencies: Same culture and languageWEAKNESSESWe have no history in NY marketWe do not have clients yetWe do not have a established brand inThis marketLimited working teamDependence in out sourcesLimited on the execution in campaignsoutside NYOPPORTUNITIESThere are no Spanish agencies in NY local marketExcellent relationship with governmentsThe competition tend to be multinational agencies looking for a big budget and ad campaignSpanish economic situationLaw regularizations for Spanish productsTHREATSComplex and competitive marketUS Hispanic agenciesIf they related us with Extenda we can loseopportunitiesSpanish agencies tend to work directly withimporters and distributorsLatin American political situationAmerican law makes difficult some productsexportation, specially agro industry
6 CMNY Working Model Working with same structure SpanishGovernmentsGovernment Representations SA“Bridge” company to invoice a fee monthly to different Spanish Governments.No costs, no structureCMNYCommunication agencyOffering strategies andPromotion for Spanishproducts exported tothe US marketInvoice to Gov Rep SAWorking with same structureStraight access to exporting companies and potential clientsBigger opportunities with other clients (no relating us with achamber of commerceDirect control on the working team.Lower costs
7 CMNY Services General business information Consulting Communication strategiesAdvertisingInteractive marketingEvents and promotionsBrandingPublic relationsDirect marketingGeneral business informationSpanish and Latin American companies listImporters, distributors listLegal, economic and financial informationCommerce ServicesMarket studiesStatistic informationBorders informationBusiness agendas for Spanish companiesConsulting in promotional marketingCorporative events
8 CMNY Funnel Process 1. First contact with different associations List of Spanish and Latin companies in NY3. Search their situation. Do they invest in communicationAnd marketing in other countries?5. Level of dependence from their country. Do they need the origin country’s approval?7. Presentation of the company and services8. Get the briefing9. Present the strategy6. Do they have presence in different US states?4. Do the companies have budget to invest in marketing or are they looking for general market information?2. Classify the companies in different categoriesConsumer goods, technology, tourism, agro industry and services
9 CMNY Stage -Gate process Starting point: Idea generation Gates: Go/ Kill point. Obstacles to get through the next stageReduces the number of ideas from the beginningStages: Processes for the new product and service developmentStage 1: Scoping Go kill point toStage 2: Development Go kill point toStage 3: Business case Go kill point toStage 4: Testing Go kill point toStage 5: Launch Go kill point to
11 Idea Generation CMNY Capture the ideas from the Idea bank Team players from different departmentsPotential Clients feedbackSpanish companies opinionCompetitorsPartnersTrends and market researchBrainstormingChamber of commerce experience
12 CMNY Gate 1: Idea Screen Go/kill point of ideas Realistic and achievable?Key customersStrategic alignmentProduct advantage: Does the project offer new or different benefits?Market attractiveness: Is the market size, and opportunities attractive?Technical feasibilityCompetence: Are they building something similar?
13 CMNY Gate 1 Realistic and achievable? Can I compete in NY market? Can I achieve my target?Do Spanish companies invest in communication?Can I work with out sources?Market attractiveness: Is the market size, and opportunities attractive?Do I have a big competitor in the market?Does my product offer something different?Do I have legal difficulties to open a brunch?International companyDifferent taxes
14 Stage 1: ScopingCMNY1. Preliminary market assessment: Focus groups, libraries and internet searchMarket size and potential:List of Spanish companies and Latin American companies in NY and local small companiesMarket segmentationCustomer behavior.Investment of Spanish companies coming to USAnalyzing competenceCommunication agencies for Latin products introducing to USWhat makes us differentCultural issues: As a Spanish company we have same culture, language
15 2. Preliminary technical and financial assessment Stage 1: ScopeCMNY2. Preliminary technical and financial assessmentTechnical feasibilityCost and time estimation3. Product description: characteristics.4. Internal analysisOrganization: Working team and shareholders5. Demographic, economic and social trendsEconomic situation of Spain and Latin AmericaInternational commercePolitical situation and relationship with US government
16 CMNY Gate 2 Go/kill point: Reevaluation of Stage 1 Do we have other chambers support?Are we still winners in the marketplace?Does the project meet the objectives?Can we achieve the project in time?Do we have the necessary sources and budget?Can we get enough knowledge about the market?Can we support a exporting company outside NY?Aligned with the positioning?
17 CMNY Stage 2: Business case Product concept Positioning strategy: 1. Detailed product analysis:Product conceptMarketing strategy for Spanish companies entering the USPositioning strategy:Different governments representation to achieve our customersSWOT analysis2. Detailed market research: deeper analysisof potential customer needs and preferencesDo they need general information and support?Do they need a communication plan? Money to spend in ad, promotion
18 CMNY Stage 2: Business case Out sources and suppliers 3. Detailed competitive analysis:Small/ Medium Advertising agenciesMarketing consulting agenciesOther local agencies4. Detailed Technical analysisOut sources and suppliersTypes of AlliancesCost of production5. Detailed business and financial assessmentsBudget approach6. Define timeline7. Team and responsibilities
19 CMNY Gate 3 Go/Kill before a substantial spending & development stage Does the budget fit?Is the cost of production achievable?Is the technical support adequate?Does the strategy fits with the positioning?
21 Stage 3: Development Plan Implementation CMNYProduction planWeb sideNew business materials, and sales proceduresPre-launch eventDefinition of the working modelIntroduce Marketing and operationsPreliminary test plansIn house testPre testingSelect a sample of potential clients to tasteClients feedbackUpdated financial analysis
22 CMNY Gate 4: Go to testing Kill/ Go point for the development plan. Are the clients feedback positive?Is the project consistent with original definition?Review of the marketing planAre we in time and budget?Approval for the testing planIs the working model adequate?
23 CMNY Select customers and other internal departments Stage 4:testingCMNYContinue with in- house and trial testingQuality of the product and internal opinionSelect customers and other internal departmentsTest marketCustomer acceptanceSend the material to potential to our list of companiesEconomics of productEstimate revenues and market shareMargins and benefits of each campaign and serviceValue the launching planAdvertisement in specialized magazines, associations, events, and othersReview business & financial analysis
24 Go/kill before the market launch and final commercialization Gate 5CMNYGo/kill before the market launch and final commercializationResults of the testing: Do they like our product?Quality of validation?Budget reviewAre marketing and operations ready?Is the launching plan ok?
25 CMNY Stage 5: Launch Marketing Plan Implementation AdvertisingDirect marketingInteractive,Web pagePre launch eventOperation plan implementationStructure for Extenda representationLaunch plan Implementation
26 CMNY Post launch Review Product performance analysis after the launch Adjusts?Results evaluations:ObjectivesCostProfitsTimingQuality
27 Post launch analysis ®CMNYProduct PerformanceStrengthsWeaknesses