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7/29/2019 B2B Chapter 12- Grp Presentation PPT
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Business to Business Marketing
Presentation
On
Managing Innovation
and
New Industrial Product Development
7/29/2019 B2B Chapter 12- Grp Presentation PPT
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Group Members
Lalit Chaudhari (8020)
Rucha Joshi (8055)
Kunal Kokane (8063)
Sneha Bhongade (8083)
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A planned, deliberate
process characterizes the
develop of some new
products whereas a
circuitous and chaotic
process typifies others.
Why? Research suggests
that strategic activity
within a large
organization falls into two
broad categories: inducedand autonomous strategic
behavior.
Table 12.1 7th ed
Patterns of Strategic Behavior
Induced Versus Autonomous Strategic Behavior:
Selected Characteristics of the marketing Strategy
Formulation Process
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Senior management at 3M
Company will not commit
to a project unless a
Product Championemerges and will not
abandon the effort unless
the champion gets tired.
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Some development projects center on improving the
manufacturing process.
Some on Improving products.
Others on both process and product improvements.
Exploring the
Technology Portfolio of a Firm
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Four Types of Development Projects
1. Derivative projects center on incremental product enhancements,incremental process improvements, or incremental changes on both
dimensions.
2. Platform projects create the design and components that are shared
by a set of products.
3. Breakthrough projects establish new core products and new core
processes that differ fundamentally from previous generations.
4. Research and development is the creation of knowledge concerning
new materials and technologies that eventually leads to commercial
development.
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Product Family
Products that share a common platform but have differentspecific features and enhancements that are required for
different sets of consumers.
Strategists argue that a firm should move away from a
planning emphasis that centers on single products.
The move toward a product family perspective requires
close interfunctional working relationships, a long-term
view of technology strategy, and a multiple-year
commitment of resources.
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Innovation Winners in
High-Technology Characteristics
1. Limited StructureCreating successful products to meet changing customer needs requires
flexibility but successful product innovators combine this flexibility with a
few rules that are never broken.
2. Real Time Communication and Improvisation
Improvisation involves activities in which the design and execution of
actions approach convergence with each other in time.3. Experimentation: Probing into the Future
Creators of successful product portfolios did not invest in any one version
of the future but, instead, used a variety of low-cost probes to create
options for the future.
4. Time Pacing
Product innovators carefully manage the transition between current andfuture projects while less successful innovators let each project unfold
according to its own schedule.
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Although the definitions of failure are somewhat elusive,
research suggests that 30 to 40 percent of industrial
products fail.
The Major
Drivers of a
Firm
s NewProduct
Performance
Developed by Cool Pictures and MultiMedia Presentations
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New Product Development Process
Successful companies employ a high-quality new productdevelopment process--careful attention is given to the execution of the
activities and decision points. Benchmarking characteristics:
The firms emphasized upfront market and technical
assessments.
The process featured complete descriptions of the product
concepts, product benefits, positioning, and target markets.
Tough project go/killdecision points were included in the
process and the kill option was actually used.
The new product process is flexible.
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Resource Commitments
Three ingredients were important here:
1. Top management committed the resources necessary to meet
the firms objectives for the total product effort in the firm.
2. R&D budgets were adequate and aligned with the stated new
product objectives.
3. The necessary personnel were assigned and were relieved
from other duties.
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New Product Strategy
Set aggressive new product performance goal asa basic corporate goal and communicate it to all
employees.
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New Product Competitive Reactions
1. The new product represents a major threat totheir market.
2. The market is experiencing a high rate of growth.
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Lead user projects are conducted by a cross-functional team that includes four to six
managers from marketing and technical departments; one member serves as project
leader.Team members typically spend 12 to 15 hours per week on the projects.
The LeadUser
Method
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Three Obstacles of New Product
Development Efforts
Turf Barriers
New product development projects often ignite turf battles among
functional units as each competes for resources, information, and
support.Interpretive Barriers
Each department has common judgments and procedures that
produce a qualitatively different understanding of product innovation.
Communication Barriers
Departments or functional areas develop a shared language that
reflects similarities in the way in which members interpret,understand, and respond to information.
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Quality Function Deployment
The first task of QFD is to identify customer needs.
The strength of QFD comes from translating customer needs
into product design attributes.
QFD provides an important framework for bringing criticalinformation on customer needs together with appropriate
engineering data.
Quality function deployment, or QFD is a method used to identify
critical customer attributes and to establish a specific link between
customer attributes and product design attributes.
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Four Strategic FactorsFor New Product Success
Product advantage refers to
customer perceptions of
product superiority with respect
to quality, cost-performanceratio, or function relative to
competitors.
Marketing synergy represents
the degree of fit between the
needs of the project and the
firms resources and skills inmarketing.
Technical synergy concerns
the fit between the needs of theproject and the firms R&D
resources and competencies.
International orientation--new
products that are designed anddeveloped to meet foreign
requirements, and that are
targeted at world or nearest-
neighbor export markets.
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Thank You