1. Blekinge Institute of Technology SE-371 79 Karlskrona +46 455 38 50 00 www.bth.se/eng Strategic Marketing Management Chaudhry Muhammad Nadeem Faisal Cell: 0305-7761061 Email: faisal.uk@live.co.ukfaisal.uk@live.co.uk B-Email: ch.faisal@ayaantraders.comch.faisal@ayaantraders.com Url: www.littlemichael.co.uk/faisal/index.htmwww.littlemichael.co.uk/faisal/index.htm Business Intelligence: www.ayaantraders.com/bi/index.phpwww.ayaantraders.com/bi/index.php

2. Blekinge Institute of Technology SE-371 79 Karlskrona +46 455 38 50 00 www.bth.se/eng Planning For New Product  New-Product Planning as a Customer-Driven Process  Steps in New-Product Planning  Idea Generation  Product & Process Development  Marketing Strategy & Market Testing  Commercialization  Variation in the Generic New-Products Planning Process

3. Blekinge Institute of Technology SE-371 79 Karlskrona +46 455 38 50 00 www.bth.se/eng Planning For New Product  New-Product Planning as a Customer-Driven Process New Product Opportunity that offer superior value to customers range from totally new products to improvement in existing products. First we discuss the type of new product then customers value opportunity. Types of Products New goods and services are classified into (1) newness in the market (2) the extent of customer value created resulting in following types of new products The transformational Innovation: the product are radically new and the value created in substantial; BBC News, ATM Substantial Innovation: the products that are significantly new and create important customer value. Diet coke Incremental Innovation: THE Product that provide performance and greater perceived value, flavor in coke

4. Blekinge Institute of Technology SE-371 79 Karlskrona +46 455 38 50 00 www.bth.se/eng Planning For New Product Customer Value Opportunities Customers value yield important information for determining where value opportunities exists in developing new products. The market segmentation and analysis helps identify which segments offer new products opportunity to the organization. Extensive study of existing and new customers and vital competition are vital in in guiding the new product planning. The customers value is the combination of benefits provided by a product minus all of the cost incurred by the buyers. Customers satisfaction indicate the how well the product use experience compares to the value expected by the buyers. Closer the match between expectations and the use experience the better the resulting value. Customer value (1) New products (2) Improvement in the existing products (3) improvement in the processes that produce the products (4) improvement in the existing services. Matching Capabilities to value Opportunities : Each value opportunity should be considered in term of whether the organization has the capabilities to deliver superior customers value.

5. Blekinge Institute of Technology SE-371 79 Karlskrona +46 455 38 50 00 www.bth.se/eng Planning For New Product Transformational Innovation: Customer may not be good guides to totally new products ideas that may be called radical or breakthrough innovation since they create new families of products and business. When such idea are under consideration, potential customer may not understand how the new product will replace with existing products. Characteristics of Successful Innovators certain companies seem to consistently excel over in developing successful new products. Successful inventor often display similar characteristics.

6. Blekinge Institute of Technology SE-371 79 Karlskrona +46 455 38 50 00 www.bth.se/eng Planning For New Product Creating Innovative culture LeveragingSelecting the right CapabilitiesInnovation Strategy Making ResourcesDeveloping and Implementing Commitmentseffective & new product processes Strategic Initiatives

7. Blekinge Institute of Technology SE-371 79 Karlskrona +46 455 38 50 00 www.bth.se/eng Planning For New Product Steps in New-Product Planning

8. Blekinge Institute of Technology SE-371 79 Karlskrona +46 455 38 50 00 www.bth.se/eng Planning For New Product  Idea Generation The first step of new product development requires gathering ideas to be evaluated as potential product options. For many companies idea generation is an ongoing process with contributions from inside and outside the organization. Many market research techniques are used to encourage ideas including: running focus groups with consumers, channel members, and the company’s sales force; encouraging customer comments and suggestions via toll-free telephone numbers and website forms; and gaining insight on competitive product developments through secondary data sources. One important research technique used to generate ideas is brainstorming where open-minded, creative thinkers from inside and outside the company gather and share ideas. The dynamic nature of group members floating ideas, where one idea often sparks another idea, can yield a wide range of possible products that can be further pursued.

9. Blekinge Institute of Technology SE-371 79 Karlskrona +46 455 38 50 00 www.bth.se/eng Planning For New Product 1.employees 2.feedback from sales staff who get comments from customers 3.direct feedback from customers 4.news stories 5.government agencies 6.new regulations established may require some innovations 7.industry associations 8.consumer surveys 9.competitors see 10.accident and chance

10. Blekinge Institute of Technology SE-371 79 Karlskrona +46 455 38 50 00 www.bth.se/eng Planning For New Product Product & Process Development  Marketing Strategy & Market Testing  Commercialization  Variation in the Generic New-Products Planning Process

11. Blekinge Institute of Technology SE-371 79 Karlskrona +46 455 38 50 00 www.bth.se/eng Planning For New Product  Idea Generation  Product & Process Development  Marketing Strategy & Market Testing  Commercialization  Variation in the Generic New-Products Planning Process

12. Blekinge Institute of Technology SE-371 79 Karlskrona +46 455 38 50 00 www.bth.se/eng Planning For New Product Thanks

13. Blekinge Institute of Technology SE-371 79 Karlskrona +46 455 38 50 00 www.bth.se/eng References 1.Victoria L. Crittenden, “ Strategic Marketing management ”, McGraw-Hill, NY,2002. 2.Philip R. Cateora, International Marketing, 9th edition 2000, alpha Sky Printer. 3.http://www.briantracy.com/blog/sales-success/analyzing-your-competition/ 4.http://www.associatedcontent.com/article/259290/developing_a_strategic_vision.html 5.http://www.smallbiz.nsw.gov.au/run/marketing/market/pages/positioningstrategy.aspx 6.D Cravens, N Piercy, Strategic Marketing, 8 th edition, McGraw Hill, 2005 7.http://www.learnmarketing.net/positioning.htm 8.V Rao, J steckel, Analysis for strategic Marketing, Addison Wesley Longmsn, Inc, 1998. 9.Fred R. David, Strategic Management, 6 th edition, Prentice-hall, Inc, 1997.