new product marketing

new product process

a phased approach whihc takes a new idea through concept generation, evaluation, development, launch and post-launch

product innovation charter\`

a strategy which ensures all new development are in line with a firm’s objectives & marketplace opportunities

product portfolio

a method of assessing which new products best fit best as product-line-extensions, given financial & strategic objectives

fuzzy gate

an evaluation task that includes a conditional go

hollow gate

full go decision is made but no resources are commited

radical innovations

innovation that displaces or makes obsolete current products & or creates new product categories

process innovation

innovation in all functional processes in mainly manufacturing or distribution, which applies to the total operation

invention

the dimension of uniqueness including; form, formulation, & function

innovation

overall process where an invention is transformed into a commercial product that can be sold profitably

design

industrial or engineering - creative design focuses on appearance & aesthetics or technical design that focuses on the entire creation of function

concept test

feedback from potential customers on a generated concept

full screen

a scoring model that results in a decision for a concept to either undertake development or quit

opportunity concept

a company skill or resource, or a customer problem

idea concept

the first appearance of an idea

stated concept

a form / technology plus a clear statement of benefit

tested concept

passed an end-user concept so the need is confirmed

fully screened concept

passes the test of fit with the company’s situation

protocol concept

a product definition that includes the intended market user, the problem percieved, the benefits, & mandatory features

prototype concept

a tentative physcial product or system procedure - including features & benefits

batch concept

first full test of fit with manufacturing specifications are written stating exact features, characteristics, & standards

process concept

full manufacturing process if complete

pilot concept

supply of the new product, produced in quantity from a pilot production line

marketed concept

output of the scale up process from the pilot

successful concept

meets goals set at the start of the project

opportunity identification

the process of creatively recognising opportunities from the 4 categories of concepts

agile-stage-gate

blending of agile product development with the new product process

discovery driven planning

managers make assumption about the future to build forecasts & targets recognising the assumptions may be wrong

spiral development

producing several prototypes in rapid succession, showing customers, gaining feedback, & trying new prototype until adequate form is identified

focused prototype

an early non-working version of the product

product platform strategy

basic / core technology & other common elements from which many new products can be developed efficiently over time

crowdsourcing

attempt to obtain product ideas from large groups of customers

inbound open innovation

working with external partner firms to develop / obtain required technology

outbound open innovation

monetising innovation through external partners

brainsketching

drawing ideas instead of expressing through words which can draw connections with earlier ideas

speedstorming

round-robin format, discussing a topic for 3-5 minute rounds with a partner & then switching

online communities

any group that interacts using a communication medium such as inline social networking

VOC

complete set of customer wants and news, expressed in the customers own language, organised the way the customer thinks about, uses, and interacts with the product - prioritised by the customer in terms of importance and performance

functional structure

work is done by the various departments with little project focus

functional matrix structure

a specific team with people from various departments

balanced matrix strucutre

both functional and project views are critical

project matrix structure

team people are project people first and functional people second

venture structure

team members are pulled out of department to work full time on the project

power promoter

has the power and resources within the firm, getting senior management to commit to the project

expert promoter

provides technical knowledge and support, builds expertise, helps the team quickly gain technical competence

process promoter

knows the firms politics and diplomatically establishes required contacts

relationship promoter

has ties outside the organisation and can help find an open innovation partner

technological gatekeeper

works with R&D to collect and share technical information with team members

confrontation

collaboratively solve the problem to reach a solution the parties are committed to

give and take

reach a compromise solution that the parties find acceptable

withdrawal

avoid the issue or the disagreeable party

smoothing

minimise the differences and find a superficial solution

pseudo sale

asks potential buyers to do something, the action is distinct and identifiable and be done early

controlled sale

buyer must make a purchase, can be formal or informal sale which is conducted under controlled conditions

full sale

firm has fully marketed the product on a limited basis to see if everything is working right and then goes for a full national launch

agile product development

a continuous and incremental development that aims to provide customers with satisfaction by continuous software improvement and delivery

serial innovators

mid level technical employees who follow their own process to generate a deeper understanding and bridge the gap between technology and marketing

value curve creation

adjusting key attributes to current products in order to create value

new product concept

a claim of proposed customer value that describes need, form, tech and the benefits offered to the customers

OS perceptual gap analysis

based on similarities

AR gap analysis

customer attribute ratings

determinant gap analysis

managerial input and judgement

conjoint analysis

determinant attribute are put into combinations or sets, which respondent rank to find optimal levels of consumer choice

product enhancements

modifications to core product to provide new benefits

ATAR model

provides a prediction of profit contribution of a new product by giving guidance on evaluation system designs

bass model

predicts future product category sales based on historical sales levels

cumulative expenditure curve

average upwards slowing curve of expenditure and percentage of time spent with anything above

decay curve

the ideology that good ideas gradually reduce, and the amount actually developed is them minimal

quality function deployment

project controls for complex projects

design driven innovation

a bold new way of competing that creates a new innovative market and pushes new meanings of technologies

ad hoc teams

intended to support the core team

core teams

manage the functional clusters

culture of collaboration

encourages continuous learning and acceptance of risk

strategic platform

sets overall tone and direct for launch

tactical launch decisions

marketing mix decisions after the strategic launch decisions that define their implementation

strategic action

defines target market and how well they will sell to them

butt-on replacement

existing product is dropped and replaced

low season switch

switch is arranged at a low-point

high season switch

new item at the top of a season

roll in / roll out

arranged by a sequence of market segments

downgrading

keeping the earlier product alongside the new with a decreased support

splitting channels

new item in different channels or diverting existing into new channels

rollout

selecting limited areas of a country and monitoring sales of a product

full sale

firm has fully marketed the product on a limited basis and then moves to a full national launch

test markets

intended to be a representative piece of the chosen market in order to fine tune the plan and offer the most information

direct marketing

testing new products by limiting in same catalogues and counting orders

informal selling

developers get potential buyers to see products and make trial purchases

controlled sale

lab experiments that involve all purchasing in a compeitive environment

misrepresentation

an untrue claim of misrepresentations that led to injury

strict liability

defective product - no requirement for negligence or privity and no disclaimer

warranty

implied warranty of merchantability of fitness for purpose

negligence

defective by design or manufacture and failure to warn about it