1. The New Product and Services Development Process By SK Winning Innovations for Tomorrow (WIT)

2. Vision & Mission  Vision To contribute towards upliftment of education & to provide highest quality education material  Mission To utilize latest methods to produce quality innovative educational products fulfilling the customers’ needs

3. Goals and Strategy  Goals Create new product development process Build Brand loyalty & customer satisfaction Increase revenue by 20 % in 2 years by bringing quality innovations Identify & fulfill customer’s unmet needs  Strategy Building cross functional teams Continuous customer need & feedback evaluation Analyzing competitors Leveraging company resources Developing new Product Development process :The stage gate process & keep reengineering it

4. Reasons for failure  Lack of Market Orientation  Poor quality of execution  Moving too quickly  Not enough up front homework  Lack of product value for the customer  Lack of resources  Lack of systematic new product process

5. Critical Success Factors in Product Innovation 1.A unique superior product to the customer 2.A strong market orientation and customer focus 3.An international orientation 4.More predevelopment work 5.Sharp and early product definition 6.A well-conceived, properly executed launch 7.Right Organization structure, design & climate 8.Top management commitment 9. Leveraging core competencies 10. Products aimed at attractive markets 11. Tough go/kill decision and prioritization 12. Completeness, consistency, and quality of execution 13. Resources in place 14. Speed not at the expense of quality 15. Multistage disciplined New Product Process –Stage Gate Process

6. The Stage Gate Process  It is a blueprint for managing the product innovation process to improve effectiveness and efficiency  Predetermined set of stages – cross functional and parallel activities  Stages are designed to gather information needed to progress at the next gate  Gates are quality-control checkpoints where go / kill and prioritizing decisions are made  Gates consist of Deliverables Criteria Output

7. Launch DevelopmentBuild Business Case Scoping Stage 1 Gate 1 Gate 2 Stage 2 Gate 3 Stage 3 Gate 4 Stage 4 Gate 5 Stage 5 Post Launch Review Discovery Go To Development Go To TestingGo To Launch Vision Mission Strategy Goal Accumulate Idea Resource The Stage Gate Process WIT ( Winning Innovations for Tomorrow ) Second Screen Idea Screen Testing & Validation Idea Bank Must meet - should meet go/ kill point

8. Discovery Stage : Ideation  Object Identify customer needs Generate & document breakthrough new product ideas based on the vision, mission, goal & strategy of the company Identify new opportunities  Activity Voice of customer Research & analysis Trade shows Working with lead users Interdepartmental brainstorming Idea Bank  Member Cross functional team Stage 1 Gate 1 Gate 2 Stage 2 Gate 3 Stage 3 Gate 4 Stage 4 Gate 5 Stage 5 Post Launch Review Discovery

9. Gate 1 : Idea Screen  Deliverables Well described list of ideas  Criteria Is it relevant to the business ? Are the market size, growth & opportunities attractive ? Will it leverage resources of the company? Is there a reasonable likelihood that the product will be technically feasible?  Output Go / Kill / Hold / recycle  Gatekeeper Management of New Product Development Team Stage 1 Gate 1 Gate 2 Stage 2 Gate 3 Stage 3 Gate 4 Stage 4 Gate 5 Stage 5 Post Launch Review Discovery

10. Stage 1 : Scoping  Object Gentle screening to find out feasibility, magnitude of opportunity  Activities Preliminary literature search and consultation with internal and industry resources ( internet search, library search ) to assess value of an idea Preliminary Market Assessment Preliminary technical assessment Preliminary financial and business assessment Recommendations and plans for stage 2  Members Management of New Product Development Team and members form other departments depending on the requirement of the idea Stage 1 Gate 1 Gate 2 Stage 2 Gate 3 Stage 3 Gate 4 Stage 4 Gate 5 Stage 5 Post Launch Review Discovery

11. Gate 2 : Second Screen Stage 1 Gate 1 Gate 2 Stage 2 Gate 3 Stage 3 Gate 4 Stage 4 Gate 5 Stage 5 Post Launch Review Discovery  Deliverables Figures of market assessment, size, acceptance Level of risk Financial assessment  Criteria Are merits higher than the risk ? Would it have any legal issues ? Does it fit the business strategy ? Would the payback period cover the investment done ? What is the reasonable likelihood of technical feasibility? Are the costs worth of the time invested  Output Go / Kill / Hold / recycle  Gatekeeper Senior Management & managements relevant to the idea

12. Stage 2 : Build Business Case  Object Define & describe thoroughly the business case  Activities User needs and wants study Competitive analysis Market analysis Detailed technical assessment Concept testing Financial analysis Plans of Action Spell out desired features,attributes and requirements  Members Management of New Product Development Team and members from other departments depending on the requirement of the idea Stage 1 Gate 1 Gate 2 Stage 2 Gate 3 Stage 3 Gate 4 Stage 4 Gate 5 Stage 5 Post Launch Review Discovery

13. Gate 3 :Go To Development Stage 1 Gate 1 Gate 2 Stage 2 Gate 3 Stage 3 Gate 4 Stage 4 Gate 5 Stage 5 Post Launch Review Discovery  Deliverables Business Case : Product & project definition, Project Justification & Project Plan Estimate of resources Concept test data Legal assessments  Criteria Strategic Product Advantage Market Attractiveness Synergies Technical Feasibility Risk versus Return  Output Go / Kill / Hold / recycle  Gatekeeper Project council ( Senior management from different departments )

14. Stage 3 : Development  Object Implementation of development plan and physical development of the product  Activities Focusing resources towards development of the product Parallel marketing & operations In house tests Customer feedback Rapid prototypes Developing action plan Updating financials  Members Management of New Product Development Team and members from other departments depending on the requirement of the idea Stage 1 Gate 1 Gate 2 Stage 2 Gate 3 Stage 3 Gate 4 Stage 4 Gate 5 Stage 5 Post Launch Review Discovery

15. Gate 4 :Go To Testing Stage 1 Gate 1 Gate 2 Stage 2 Gate 3 Stage 3 Gate 4 Stage 4 Gate 5 Stage 5 Post Launch Review Discovery  Deliverables Marketing plan Production plan Distribution plan Financial Analysis  Criteria Is the product operating within the budget ? Is the project meeting its timelines ? Is the product meeting the customer needs better than the competition? Is the developed product consistent with the original definition ?  Output Go / Kill / Hold / recycle  Gatekeeper project council ( Senior management from different departments )

16. Stage 4 : Testing and Validation  Object Testing for extensive validation of the project Preparing for the launch  Activities Validation of quality of the project & process In-house test continue Field trial sell Test market Update financial analysis Prepare a launch plan Update marketing & production plan Find out modifications if required Ensure customer acceptance  Members Management of New Product Development Team and members from other departments depending on the requirement of the idea Stage 1 Gate 1 Gate 2 Stage 2 Gate 3 Stage 3 Gate 4 Stage 4 Gate 5 Stage 5 Post Launch Review Discovery

17. Gate 5 :Go To Launch Stage 1 Gate 1 Gate 2 Stage 2 Gate 3 Stage 3 Gate 4 Stage 4 Gate 5 Stage 5 Post Launch Review Discovery  Deliverables Market potential & interest of buying the product Forecast of sales volume  Criteria Is the product ready for launch ? Is the expected financial return considerably high? Has the project been reviewed thoroughly ? Have the modifications required as per customer survey been made ? Are all processes & resources in place for the launch? Does the testing of the product confirm customer satisfaction ?  Output Go / Kill / Hold / recycle ( The operations & marketing plans are reviewed and approved for implementation in stage 5 )  Gatekeeper : project council ( Senior management from different departments )

18. Stage 5 : Launch  Object Implementing the marketing & operation plan for launch  Activities Advertising PR Direct mail Trade shows Website Production, promotion & Sales  Members New Product Development Team and members from other departments depending on the requirement of the idea, Ad agency, PR agency Stage 1 Gate 1 Gate 2 Stage 2 Gate 3 Stage 3 Gate 4 Stage 4 Gate 5 Stage 5 Post Launch Review Discovery

19. Post Launch Review  Object Assess effectiveness of process to deliver objectives  Activities Review costs Review profits Review Strengths Review Weaknesses Review project & product performance  Members New Product Development Team and members from other departments depending on the requirement of the idea Stage 1 Gate 1 Gate 2 Stage 2 Gate 3 Stage 3 Gate 4 Stage 4 Gate 5 Stage 5 Post Launch Review Discovery

20. “ Do Projects Right, Do The Right Projects ” -Robert G. Cooper