Innovation and New Product Strategy Pertemuan 14 Buku 1 Hal: Matakuliah: J Strategi Pemasaran Tahun: 2009

Bina Nusantara Innovation as a Customer Driven Process New Product Planning Idea Generation Screening, Evaluating, and Business Analysis Product and Process Development Marketing Strategy and Market Testing Commercialization Variation in the Generic New Product Planning Process Learning Objective

The Innovation Strategy Spells Out Management’s Priorities for New Product Opportunities 1.Set specific New Product Objectives. 2.Communicate the role of New Products throughout the organization. 3.Define the areas of strategic focus: Product Scope Markets Technologies 4.Include longer term discontinuous projects in the portfolio along with incremental projects.

Customer Needs Analysis Business Analysis Screening and Evaluation Idea Generation Marketing Strategy Development Product Development Testing Commercialization NEW PRODUCT PLANNING PROCESS

Achieving Cross-Functional Interaction and Coordination R & D OperationsMarketing Finance

Coordination of new product activities by a high- level general manager Inter-functional coordination by a team of new product planning representatives Creation of a project task force responsible for new product planning Designation of a new products manager to coordinate planning between departments Formation of matrix structure for integration new product planning with business functions Creation of a permanent design center Responsibility for New Product Planning

IDEA GENERATION SCREENING (fit/feasibility) CONCEPT EVALUATION BUSINESS ANALYSIS SCREENING, EVALUATING, AND BUSINESS ANALYSIS

Idea search: targeted or open-ended? How extensive and aggressive? What specific sources are best for generating a regular flow of new product ideas? How can new ideas be obtained from customers? Where will responsibility for the new product ideas search be placed? What are potential threats from alternative (or disruptive) technologies? IDEA GENERATION

METHODS OF GENERATING IDEAS Direct Search Linking Marketing and Technology Facilitating Lead User Analysis Creative Methods National Policy Exploratory Customer Studies Alliances/ Acquisition/ Licensing Technological Innovation

Business Analysis Revenue Forecasts Preliminary Marketing Plan Cost Estimation Profit Projections Other Considerations

NEW PRODUCT CONCEPT PRODUCT DEVELOPMENT AND USE TESTING MARKETING STRATEGY DEVELOPMENT MARKET TESTING LAUNCH PRODUCT AND PROCESS DEVELOPMENT

Development of the new product includes: – Product design – Packaging design – Decisions to make or purchase product components Product Development Process: – Product Specifications – Industrial Design – Prototype – Use Tests – Process Development Collaborative Development Product and Process Development

MARKETING STRATEGY AND MARKET TESTING  Marketing Strategy Decisions – Market Targeting – Positioning Strategy  Market Testing Options – Simulated Test Marketing – Scanner – Based Test Marketing – Conventional Test Marketing – Testing Industrial Products – Selecting Test Sites – Length of the Test – External Influences

COMMERCIALIZATION The Marketing Plan – Complete marketing strategy – Responsibilities for execution – Cross – functional approach Monitoring and Control – Real – time tracking – Role of the Internet – Include product performance metrics with performance targets

Market Target(s) Marketing Program(s) Objectives Marketing Strategy

Technology Push Processes Platform Products Process – Intensive Products Customized Products VARIATIONS IN THE GENERIC NEW PRODUCT PLANNING