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New Product and Service Development Children’s Cloth Company.

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Presentation on theme: "New Product and Service Development Children’s Cloth Company."— Presentation transcript:


2 New Product and Service Development Children’s Cloth Company

3 Company Background “Big Junior”, which was established in 1999, are specialty retailer of children’s merchandise, ages newborn to twelve years old. The Company designs, contracts to manufacture and sells high- quality, value-priced merchandise under the proprietary. The Company owned and operated 102 stores in North America and its online store.

4 Vision To produce high standard quality products for children age 0-12. Mission To successfully launch a new product segment in order to increase our brand awareness and gain more market share.

5 Stage Gate Process Ideation Create Idea Bank Assign a team member to manage Idea Screen against broad criteria Scoping Preliminary Assessment: Market Technical Financial Second Screen Technical Legal Sales/Mktg involved Payback period Business Case (Detailed Inves) Product Concept Competition Technical Evaluation Project Plan Third Screen Decision to spend Confirm Case Development Quality execution Product development Prototype Testing Customer feedback Forth Screen Review execution Revised financials go to test Testing and Validation Extensive validation In-house tests Customer acceptance Revised financials Fifth Screen Testing properly executed Financial return Implement approval Launch Discovery Gate 1 Stage 1 Gate 2 Stage 2 Gate 3 Stage 3 Gate 4 Stage 4 Gate 5 Stage 5 Post Launch Review

6 Discovery Idea Generation  Promote internal campaign for ideas  Create a “Idea Bank”  Assign a team member to manage ideas generated  Brainstorming  Build in voice-of-customer through surveys & focus group  Attend trade shows - new trends/opportunities  Research Web/Library  Look at existing products for improvements  Analyse competitors to offer better value Discovery

7  Is the idea aligned with the company’s mission?  Is the market growth, size and opportunity attractive?  Does the idea offer competitive? advantage over competitors?  Are there any killer variable? Gate 1 Idea Screen Gate 1

8 Stage 1 Scoping  Preliminary Market Assessment: (size, potencial, acceptance, competitors) - Internet/library search - Focus group  Preliminary Technical Assessment - Define product requirements/specifications - Assess technical feasibility and determine - Determine time/cost to execute - Analyse technical, regulatory risks  Preliminary Financial Assessment - Budget review Stage 1

9 Gate 2 Second Screen  Does the product respond to a customer need?  Is the competition moving to the same direction?  Is the company capable of manufacturing the product?  Are time and investment worth it?  Can the product be manufactured with the proposed time line and budget?  When would be the payback period? Gate 2

10 Stage 2 Business Case  Define product concept and positioning - Target market - Desired features, attributes, and requirements  Competitive Analysis  Customers Feedback (in-depth research) - Present proposed new product, gauge reactions and determine acceptance  Detailed Technical Appraisal - Manufacturability / cost to manufacture - Investment review  Create a detailed Project Plan Stage 2

11 Gate 3 Third Screen  Is the marketing still attractive to justify the investment?  Do we meet our target market?  Do we have a strong service advantage?  Do we meet our budget?  Do we meet our timeline? P.S. This is an important decision point to evaluate if the company should invest heavier on the next stage: Development Gate 3

12 Stage 3 Development  Quality Execution - Create a procedure of the new product development and include it in the Quality System - Create a periodically “checkpoint” system to ensure the product meets requirements  Continue marketing research  Map out a market launch plan involving corporate marketing and technical area  In-house tests  Revise financial analysis with update information  Design operation process Stage 3

13 Gate 4 Forth Screen  Is the developed product consistent with the original quality definition specified at Gate 3?  Does the product continue to be attractive to the market?  Is the product ready to move forward to Testing?  Are revised financials still within Budget?  Are the marketing and operation plans reviewed for probable future execution? Gate 4

14 Stage 4 Testing & Validation  Implement in-house product tests  Evaluate Customer acceptance - Realize field trials of the product - pretest market, test market, or trial sell  Reviewed business and financial analysis to check on the continued business and economic viability of the project Stage 4

15 Gate 5 Fifth Screen  Was the testing & validation activities meet our target/having positive feedback?  Were required improvements in the product?  Is the expected financial return according to the plan?  Are the operations and marketing plans reviewed and approved for implementation? Gate 5

16 Stage 5 Launch  Implement marketing launch plan and the operation plan Marketing plan - Press release - Event promotion - Advertising - Brochure Operation plan - Delivery - Distribution - Training sales and customer support Stage 5

17 Post Launch Review  Evaluate customer acceptance (brand awareness)  Review financial review (sales volume and profit)  Evaluate strengths & weaknesses  Identifty successful and unsuccessful actions  Create corrective and preventive action to avoid same mistakes in the future Review

18 Fast Track Process Discovery Gate 1 Stage 1 Gate 2 Stage 2 Gate 3 Stage 3 Gate 4 Stage 4 Gate 5 Stage 5 Post Launch Review AND Scoping and Build Business Case Development and testing Stage Gate Process

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