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New Product and Services Development

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Presentation on theme: "New Product and Services Development"— Presentation transcript:

1 New Product and Services Development
CMNY New Product and Services Development Stage Gate Process Keltse Bilbao 2006

2 Mission CMNY Become the first communication agency in the local market for Spanish and Latin American companies

3 Objectives CMNY To represent different Spanish Governments in NY as Andalucia and Navarra Foment the promotion of the entrepreneurial relationship between Spain and United States offering business opportunities to exporting companies Incentive the investment and commerce between both countries Gain opportunities with Spanish companies from this relationship to offer them marketing strategies

4 Communication agency with a personalized service
Vision CMNY Communication agency with a personalized service Unique plan for each company Service Accessible Results oriented

Global marketing campaigns Personalized services to clients Great relation with Spanish companies and potential customers Actual clients: MIT companies, technology companies, Extenda and Navarra Tend of Spanish companies to work with Spanish agencies: Same culture and language WEAKNESSES We have no history in NY market We do not have clients yet We do not have a established brand in This market Limited working team Dependence in out sources Limited on the execution in campaigns outside NY OPPORTUNITIES There are no Spanish agencies in NY local market Excellent relationship with governments The competition tend to be multinational agencies looking for a big budget and ad campaign Spanish economic situation Law regularizations for Spanish products THREATS Complex and competitive market US Hispanic agencies If they related us with Extenda we can lose opportunities Spanish agencies tend to work directly with importers and distributors Latin American political situation American law makes difficult some products exportation, specially agro industry

6 CMNY Working Model Working with same structure
Spanish Governments Government Representations SA “Bridge” company to invoice a fee monthly to different Spanish Governments. No costs, no structure CMNY Communication agency Offering strategies and Promotion for Spanish products exported to the US market Invoice to Gov Rep SA Working with same structure Straight access to exporting companies and potential clients Bigger opportunities with other clients (no relating us with a chamber of commerce Direct control on the working team. Lower costs

7 CMNY Services General business information Consulting
Communication strategies Advertising Interactive marketing Events and promotions Branding Public relations Direct marketing General business information Spanish and Latin American companies list Importers, distributors list Legal, economic and financial information Commerce Services Market studies Statistic information Borders information Business agendas for Spanish companies Consulting in promotional marketing Corporative events

8 CMNY Funnel Process 1. First contact with different associations
List of Spanish and Latin companies in NY 3. Search their situation. Do they invest in communication And 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 services 8. Get the briefing 9. Present the strategy 6. 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 categories Consumer 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 stage Reduces the number of ideas from the beginning Stages: Processes for the new product and service development Stage 1: Scoping Go kill point to Stage 2: Development Go kill point to Stage 3: Business case Go kill point to Stage 4: Testing Go kill point to Stage 5: Launch Go kill point to

10 CMNY Stage -Gate process STAGE 3 GATE 4 GATE 1 LAUNCH GATE 3 REVIEW
DISCOVERY: Idea Generation STAGE 3 Development GATE 4 GATE 1 GATE 3 LAUNCH REVIEW STAGE 4 Testing STAGE 1: Scoping LAUNCH STAGE 2 Business Case GATE 5 GATE 2

11 Idea Generation CMNY Capture the ideas from the Idea bank
Team players from different departments Potential Clients feedback Spanish companies opinion Competitors Partners Trends and market research Brainstorming Chamber of commerce experience

12 CMNY Gate 1: Idea Screen Go/kill point of ideas
Realistic and achievable? Key customers Strategic alignment Product advantage: Does the project offer new or different benefits? Market attractiveness: Is the market size, and opportunities attractive? Technical feasibility Competence: 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 company Different taxes

14 Stage 1: Scoping CMNY 1. Preliminary market assessment: Focus groups, libraries and internet search Market size and potential: List of Spanish companies and Latin American companies in NY and local small companies Market segmentation Customer behavior. Investment of Spanish companies coming to US Analyzing competence Communication agencies for Latin products introducing to US What makes us different Cultural issues: As a Spanish company we have same culture, language

15 2. Preliminary technical and financial assessment
Stage 1: Scope CMNY 2. Preliminary technical and financial assessment Technical feasibility Cost and time estimation 3. Product description: characteristics. 4. Internal analysis Organization: Working team and shareholders 5. Demographic, economic and social trends Economic situation of Spain and Latin America International commerce Political 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 concept Marketing strategy for Spanish companies entering the US Positioning strategy: Different governments representation to achieve our customers SWOT analysis 2. Detailed market research: deeper analysis of potential customer needs and preferences Do 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 agencies Marketing consulting agencies Other local agencies 4. Detailed Technical analysis Out sources and suppliers Types of Alliances Cost of production 5. Detailed business and financial assessments Budget approach 6. Define timeline 7. 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?

20 CMNY $

21 Stage 3: Development Plan Implementation
CMNY Production plan Web side New business materials, and sales procedures Pre-launch event Definition of the working model Introduce Marketing and operations Preliminary test plans In house test Pre testing Select a sample of potential clients to taste Clients feedback Updated 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 plan Are we in time and budget? Approval for the testing plan Is the working model adequate?

23 CMNY Select customers and other internal departments
Stage 4:testing CMNY Continue with in- house and trial testing Quality of the product and internal opinion Select customers and other internal departments Test market Customer acceptance Send the material to potential to our list of companies Economics of product Estimate revenues and market share Margins and benefits of each campaign and service Value the launching plan Advertisement in specialized magazines, associations, events, and others Review business & financial analysis

24 Go/kill before the market launch and final commercialization
Gate 5 CMNY Go/kill before the market launch and final commercialization Results of the testing: Do they like our product? Quality of validation? Budget review Are marketing and operations ready? Is the launching plan ok?

25 CMNY Stage 5: Launch Marketing Plan Implementation
Advertising Direct marketing Interactive, Web page Pre launch event Operation plan implementation Structure for Extenda representation Launch plan Implementation

26 CMNY Post launch Review Product performance analysis after the launch
Adjusts? Results evaluations: Objectives Cost Profits Timing Quality

27 Post launch analysis ® CMNY Product Performance Strengths Weaknesses


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