Embraces all activities which start with the idea generation and ends with its full-scale commercialization in the market, or modification of existing products to add stability.

New Product Planning and Development

Research and Product Development

Concerned with getting ideas for new products, screening them, and translating them to tangible shapes through systematic research and development and then producing the products on a mass scale for marketing at a profit.

New Product Planning and Development

Research and Product Development

Circumstances leading to Product Planning and Development (PPD)

Stay ahead of changing customer requirements and preferences.

Keep pace with fast-moving technology.

Match the new product entries of competitors.

Customer preferences can change.

Stay ahead of changing customer requirements and preferences.

Keep pace with fast-moving technology.

Match the new product entries of competitors.

What is innovative now can no longer be viable in the upcoming years.

Keep pace with fast-moving technology.

Stay ahead of changing customer requirements and preferences.

Match the new product entries of competitors.

The process of PPD starts with the entrepreneur and research.

Organization for the administration of PPD

Analysis of key factors affecting the new PPD and establishment of objective, policies, and strategies thereto

Planning the new product search and preliminary screening

Detailed analysis and evaluation of the market potential, and estimated profitability of new products

Product development and testing

What exactly is it that you would want to create a product in the first place?

Analysis of key factors affecting the new PPD and establishment of objective, policies, and strategies thereto

Organization for the administration of PPD

Planning the new product search and preliminary screening

Detailed analysis and evaluation of the market potential, and estimated profitability of new products

Product development and testing

Is it part of the overall business plan? To market?

Analysis of key factors affecting the new PPD and establishment of objective, policies, and strategies thereto

Organization for the administration of PPD

Planning the new product search and preliminary screening

Detailed analysis and evaluation of the market potential, and estimated profitability of new products

Product development and testing

Must look at different alternative product ideas out there that can also come from different people in the department, interviews, or customers.

Planning the new product search and preliminary screening

Organization for the administration of PPD

Analysis of key factors affecting the new PPD and establishment of objective, policies, and strategies thereto

Detailed analysis and evaluation of the market potential, and estimated profitability of new products

Product development and testing

Create innovation and products that have mass market appeal and viable.

Detailed analysis and evaluation of the market potential, and estimated profitability of new products

Organization for the administration of PPD

Analysis of key factors affecting the new PPD and establishment of objective, policies, and strategies thereto

Planning the new product search and preliminary screening

Product development and testing

Make sure the quality of the product sets a specific standard.

Product development and testing

Organization for the administration of PPD

Analysis of key factors affecting the new PPD and establishment of objective, policies, and strategies thereto

Planning the new product search and preliminary screening

Detailed analysis and evaluation of the market potential, and estimated profitability of new products

What are the key factors analysis of PPD

What areas of business does the company want to be in?

What major product lines it will exploit?

Limitations of company resources.

Design parameters of the product.

What are the objectives of PPD

New product areas to be investigated.

The intensity with which each area should be investigated.

Other criteria to be used for judging the value of potential new products.

Current and future capacity of the market to absorb the product.

Can be shown by looking at the extended product life cycle.

Research and Product Development

Reliability on Types of Investigation

Well-known conceptual framework that purports to capture some of the stages in product’s life.

Research and Product Development

Reliability on Types of Investigation

Analyzes the range of effects that R&D investment can have on a product’s profitability.

Overall Profit and Growth of the Company

Development of Existing Products

Price and Product Improvements: Market Share

Analysis of the products that a company manages will reveal that these contribute in different ways to the overall profit and growth of the company.

Overall Profit and Growth of the Company

Development of Existing Products

Price and Product Improvements: Market Share

Life cycle of most products that lasts for several years.

Development of Existing Products

Overall Profit and Growth of the Company

Price and Product Improvements: Market Share

INNOVATION MANAGEMENT - CH 6-8

Authored by Althea Cien Rom

Business

University

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MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Reflected in market share and the price customers are willing to pay.

Product Quality

Product Cost

Development Time

Development Cost

Development Capability

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How good should the product be?

Product Quality

Product Cost

Development Time

Development Cost

Development Capability

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Satisfy customer needs?

Product Quality

Product Cost

Development Time

Development Cost

Development Capability

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Reliable?

Product Quality

Product Cost

Development Time

Development Cost

Development Capability

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Includes spending on equipment and the incremental cost of producing each product unit.

Product Quality

Product Cost

Development Time

Development Cost

Development Capability

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Determines how much profit accrues to the firm for a particular sales volume and sales price.

Product Quality

Product Cost

Development Time

Development Cost

Development Capability

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Determines how responsive the firm can be to competitive forces and to technological development.

Product Quality

Product Cost

Development Time

Development Cost

Development Capability

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INNOVATION MANAGEMENT - CH 6-8

Reflected in market share and the price customers are willing to pay.

How good should the product be?

Satisfy customer needs?

Reliable?

Includes spending on equipment and the incremental cost of producing each product unit.

Determines how much profit accrues to the firm for a particular sales volume and sales price.

Determines how responsive the firm can be to competitive forces and to technological development.

How quickly the firm receives economic returns from the team’s efforts.

How much did the firm have to spend to develop the product (fraction of investment)?

Are the team and the firm better able to develop future products as a result of their experience?

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