New Product Processes: Lecture By: Dr. Y.S. Cheah Sunway University Business School Sunway University
New Product Processes: Lecture By: Dr. Y.S. Cheah Sunway University Business School Sunway University
New Product Processes: Lecture By: Dr. Y.S. Cheah Sunway University Business School Sunway University
Chapter 2
The New Products Process
2-3
Cross-functional team
Opportunity Identification/
Selection
Direction;
Where should we look?
Concept Generation
Initial Review:
Is the idea worth screening?
Concept/Project Evaluation
Full Screen:
Should we try to develop it?
Development
Progress Reports:
Have we developed it?
Launch
Market Testing:
Should we market it?
2-5
Concept Generation
Concept/Project Evaluation
Initial Review:
Is the idea worth screening?
Full Screen:
Should we try to develop it?
Development
2-6
Launch
Market Testing:
Should we market it?
2-7
2-8
2-11
2-12
2-13
quit.
If go ahead Project evaluation evaluate the plan
proposed for capitalisation. Involves preparing a
statement of what is wanted from the new product.
Firms using QFD (Quality Function Deployment) see this
as first list of customer needs Product description or
definition. In text : Product protocol Why? It means
agreement amongst various groups before extensive
technical work begins.
2-14
2-17
Items/Services
The concept (product) stream involves:
Industrial design& bench work (goods) or systems
design (services), prototypes, product specifications
and so on.
2-18
2-19
2-20
2-21
Phase 5: Launch
Commercialize the plans and prototypes from
development phase, begin distribution and sale
of the new product (maybe on a limited basis)
and manage the launch program to achieve the
goals and objectives set in the PIC (as modified
in the final business plan).
2-22
Phase 5: Launch
Launch or Commercialization
The launch decision is more of attitude
Most projects dont have a Go/No Go decision
Usually the last few weeks before and after
announcing the new product is really the launch
phase.
Everything is rush/everything is critical
Critical step (if company takes it) Market Test for
the Test Market.
Public announcement of the new product the
advertising, sales call and so on The Launch
Launch Management
2-23
2-24
2-25
Figure 2.4
(contd.)
Prototyping
Prototyping
Wax Sculpting
Fabricated Model
Vacuum Forming
2-35
END OF LECTURE
2-38