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New Product development
Presented By-RABIA BIBI 11777
SUNDUS MUKHTAR 11800
Definition
New product development (NPD) is the complete process of bringing a new product to the market till its consumption & feedback from the end user of the business chain through the systematic procedure & parameter.
It may be a Consumable product, service or idea.
Definition New product development (NPD) is the
complete process of bringing a new product or service to market.
New product development may be done to develop an item to compete with a particular product or may be done to improve an already established product.
Examples
This type of development is considered the preliminary step in product or service development and involves a number of steps that must be completed before the product can be introduced to the market.
New medicine New model of auto mobile New cellular phone
Agenda
Market Research/Opportunity Scan Concept Testing Prototype Development Market Testing Product Launch
Why New Products?
New product development is essential to any business that must keep up with market trends and changes.
Approximately one-third of the revenue a business generates is coming from products they did not sell five years ago
Changing environment creates new demands and needs
Product Development
Must be alert to quickly develop opportunities Focus on markets or product categories
consistent with organization’s objectives, resources, capabilities and strengths
Securing a competitive advantage
Industrial New Product Ideas
Company sources other than R&D 36.2% Analysis of the competition 27.0% Research & Development 24.3% Product users 15.8% Supplier suggestions 12.5% Product user research 10.5% Published information 7.9%
New Products necessity
A way of getting new and keeping old customers
Effective way of obtaining a competitive advantage
Source of growth and excitement
New Product Categories
New to the world products New product lines Product line extensions Improvements and revisions to existing
products Repositionings Cost reductions
Product Development Process
Market researchand
Opportunity scan
ConceptTesting
PrototypeDevelopment
TestMarketing
Product Launch
Marketing
Very important to product development success Key to successful marketing is imaginative,
effective, creative communication Find a need and fill it. Mutually beneficial exchange relationships
Market Opportunity and Threats
Economic Realities• GNP• Disposable Income• Discretionary Income
Legal & Regulatory Condition• Laws• Regulations
Societal Focus• Population Shifts• Values• Attitudes• Competition• Trends
Technological Development• Advance in
technology• Market receptiveness
to technology
Reasons For New Product Failures
Poor marketing research Technical problems Insufficient marketing effort Bad timing The wrong group was targeted. Unrealistic forecast. Insufficient level of awareness.
Summary
New product development drives growth. Market research is critical to the success of a
new product launch. Market research is a continuous process as
customer needs, your business and the environment changes.
FUZZY FRONT END
Speakers: Noor-ul-Ainn (11773)
Ammara Farooqui (11734)
What is Fuzzy Front End?
Fuzzy Front end is defined asActivities that come before the “formal and well structured” New Product Development (NPD) Portion.It is also described in literature as "Front End of Innovation", "Phase 0", "Stage 0" or "Pre-Project-Activities"
Activities are less structured and less predictable.
Structured with a formulized and précised set of activities and questions.
Why Focus FFE?Front End Innovation New Product Development
Nature of Work Experimental, often chaotic. “Eureka” moments. Can schedule work—but not invention.
Disciplined and goal-oriented with a project plan.
Commercialization Date
Unpredictable or uncertain. High degree of certainty.
Funding Variable—in the beginning phases many projects may be “bootlegged,” while others will need funding to proceed.
Budgeted.
Revenue Expectations Often uncertain, with a great deal of speculation.
Predictable, with increasing certainty, analysis, and documentation as the product release date gets closer.
Activity Individuals and team conducting research to minimize risk and optimize potential.
Multifunction product and/or process development team.
Measures of Progress Strengthened concepts. Milestone achievement.
New Concept Development Model (NCD)
Engine (Leadership, culture, and business strategy)The inner parts of the NCD are called elements, as opposed to processes. A process implies a structure that may not be applicable and could force the use of a set of poorly designed controls to manage FFE activities. In addition, the model has a circular shape, to suggest that ideas are expected to flow, circulate, and iterate between and among all the five elements. The flow may encompass the elements in any order or combination and may use one or more elements more than once.
Idea Identification:The essence of this element is the sources and methods used to identify opportunities to pursue. Opportunity identification in many cases precedes idea generation and enrichment. It also may enable linking unanticipated notions to business or marketplace needs that were not previously known. Opportunity identification may occur from a single person recognizing an unmet customer need or previously undetected problem.
Opportunity Analysis:Business capability and competency are assessed in this element, and sponsorship for further work will be determined. However, despite all of the effort, significant technology and market uncertainty will remain.In this element, an opportunity is assessed to confirm that it is worth pursuing. Additional information is needed for translating opportunity identification into specific business and technology opportunities. This involves making early and often uncertain technology and market assessments.
Idea Generation and EnrichmentThe element of idea generation and enrichment concerns the birth, development, and maturation of a concrete idea. Idea generation is evolutionary. Ideas are built up, torn down, combined, reshaped, modified, and upgraded. A new idea may also emerge outside the bounds of any formal process—such as an experiment that goes awry, a supplier offering a new material, or a user making an unusual request.
Idea SelectionThe problem for most businesses is in selecting which ideas to pursue in order to achieve the most business value. Formalized decision processes in the FFE are difficult due to the limited information and understanding that are available early in product development. Financial analyses and estimates of future income for ideas at this early stage are often wild guesses.
Concept DefinitionConcept definition is the final element of the new concept development model. This element provides the only exit to the NPD or technology stage gate (TSG). In order to pass through the gate, the innovator must make a compelling case for investment in the business or technology proposition. Some organizations refer to this as a “win statement.” Others call it a “gate document.” The investment case consists of both qualitative and quantitative information, which the gatekeepers use to make a determination.
Influencing factors (the environment)The FFE exists in an environment of influencing factors. The factors are the corporation’s organizational capabilities, customer and competitor influences, the outside world’s influences, and the depth and strength of enabling sciences and technology
NEW PRODUCT DEVELOPMENT EXECUTION
PRESENTED BY:
ANAM HASSAN HIRA ARSHAD
WHAT IS NEW PRODUCT DEVELOPMENT EXECUTION?
To create the next product in a company’s product line a design team goes through product development process steps. Starting with a product idea, the team moves through several stages to generate all the details and documents needed to get the product built. A NEW product development (NPD) process goes through the same steps, however as this product has not been developed by the team before, new risks and uncertainties are introduced and often additional information is documented and shared with manufacturing.
STEPS OF NPD EXECUTION
There are five basic steps in a new product development EXECUTION:
Concept Ideation Design Test and Release.
Concept :
The concept step sets basic direction and boundaries for the entire development process by clarifying the type of product, the problem the product solves and the financial and technical goals to be achieved by the product.
Ideation : During the ideation step the team brainstorms to discover some of the many ways a product can solve the problem and meet internal goals. Ideas are evaluated and the most promising are selected for further investigation.
Design :It’s in this step that the execution of the “best” way to create and construct the product happens. Engineering details are generated to flesh out the high level concepts from the ideation stage.
Test :
Testing verifies if the product meets the original goals or if additional refinement is needed.
Release:Once testing has confirmed that the product solves the problem and will meet the company goals; it is ready to start the new product introduction (NPI) process and get the product built!
CLINICAL TRIALS FOR PRODUCT DEVELOPEMENT
Speaker:MADIHA AHMED 11761BUSHRA KHAN 11742
CLINICAL TRIALS :
A research activity that involves administration of a test treatment to some experimental unit in order to evaluate the treatment.
Clinical Trials
Clinical Trials
• Clinical trials are conducted only
when,
-Satisfactory information has been gathered
on the quality of the nonclinical safety.
- Health authority/ethics
committee approval is granted in the
country where approval of the drug is
sought.
• Clinical Trial is the mainstay for
bringing out New Drugs to the
Market.
Drug Review Steps
Preclinical (animal) testing. An investigational new drug application (IND) : outlines what the sponsor of a new drug proposes for human testing in clinical
trials. Phase 1 studies Phase 2 studies Phase 3 studies
Submission of New Drug Application (NDA) is the formal step asking the FDA to
consider a drug for marketing approval.FDA reviewers will approve the
application or find it either "approvable" or "not approvable.“ Phase 4 studies
DRUG REVIEW STEPS : Preclinical Data
IND Filing
IND Approval
Phase I
Phase II
Phase III
NDA Filed
NDA Approval
Marketing Permission
Phase IV
DCGI
Mandatory Approval Points
Sponsor
Go/No Go
Decision
Points
CPD-Phases
CLINICAL PRODUCT DEVELOPMENT- PHASES:
Clinical Trials
Major areas are:• Pharmacodynamic studies in vivo in animals, In vitro preparation• Absorption, distribution , elimination studies (pharmacokinetics)• Acute ,sub acute, chronic toxicity studies (toxicity profile)• Therapeutic index (safety & efficacy evaluation)
PRECLINICAL TRIAL :
Phases Of Clinical Trials
Focused on tolerability and safety. 12-30 (150) healthy people (often males). Efficacy on biomarkers . Single and repeated doses. Increase dose levels. Interaction with other drugs. Pharmacokinetics. Explorative.
Phase I50-150people
Phase II100-200people
Phase III500-15000people
Phase IV studies continue
PHASE 1 TRIAL :
Phases Of Clinical Trials
Phase I50-150people
Phase II100-200people
Phase III500-15000people
Phase IV studies continue
PHASE 2 TRIAL :
50-1000 patients. Extensive monitoring. Safety and tolerability in patients. Often complicated design, explorative. Selection of optimal dose. Pharmacokinetics in patients. Effect in special populations. Explorative.
Phases Of Clinical Trials
Phase I50-150people
Phase II100-200people
Phase III500-15000people
Phase IV studies continue
PHASE 3 TRIAL :
500-15000 patients Effect is verified in the target population Forms the basis of the NDA, New Drug Application Interactions between drugs start to become measurable in the larger population Sub-groups start to be established Special features and problems show up Confirmative
Phases Of Clinical Trials
Phase I50-150people
Phase II100-200people
Phase III500-15000people
Phase IV studies continue
PHASE 4 TRIAL :
Often large 500-15000 patients Further investigation of efficacy and safety post approval Special populations New indications Marketing
Correlation