Final Final Learning

Question 1

What is a global innovaiton culture

Answer 1

• Firm that is open to global market
• Mindful of differences in customer needs and preferences
  Respectul of different national culture

Question 2

Ideal products team

Answer 2

• cross funtioncal

Question 3

cost reduction

Answer 3

new products that simply replace existing products in the line by lower cost

Question 4

Three main role in new products

Answer 4

1. Project manager: leader of the project
2. Functional leader: reperesentative of a function
3. New products process manager: takes care that good process practices are being set up

Question 5

New product process

Answer 5

procedure to post- launch

Question 6

The basic new products process

Answer 6

Fuzzy front end:
1. Opportunity identification and selection
2. Concept generation
3. Concept Evaluation

Developement
1. Developemnt phase

Launch
- Launch

Question 6

What is the fuzzy front end

Answer 6

is is the section of a new products process, happening before product development

Question 7

What is the main goal of new products process

Answer 7

• to manage down risk and uncertanty

Question 8

third-generation new products process

Answer 8

• fuzzy gates
• overlapping phases
• flexibility

Question 9

Opportunity Identification / selection

Answer 9

Three main activity feeds, allowing for opportunity identification:
- ongoing corporate planning
- ongoing marketing planning
- special opportunity analysis

From these feeds there a four main types of opportunity that can be recognises:
- external mandate
- internal mandate
- underutilized resource
- new resource

Question 10

Concept generation

Answer 10

• product concepts

Question 11

Concept/project evaluation

Answer 11

Evaluate new products concepts on technical marketing, and financial criteria, and rank them
- Before development work begins, the ideas are evaluated. This part is called screening or pre-technical evaluation
- We then do a concept test, to see what potential consumers think about a concept. Adding views, creates a full screen
- If the decision is a go, than the evaluation turn into a project evaluation

Question 12

Development

Answer 12

Technical tasks:

Marketing tasks:
- prepare strategy,
- tactics and launch details for marketing plan,
- prepare proposed business plan

Question 13

Five methods to acclerate time to market

Answer 13

1. Clear PIC
2. Overalapping phases
3. Portfolio management approach
   - Focus on quality
   - Empower cross-functional team

Question 14

Serial Innovators

Answer 14

usually mid-level, techinical employees who think and work differently and follow their own new product process

The process followed by serial innovators include the following steps:
* Finding a problem that is important to customers
* Understanding the problem
* Determining if the problem is interesting enough to customers and to the firm
* Inventing a solution to the problem and checking for customer acceptance with a prototype
* Ensuring that the product goes into development

Question 15

what is a bottom-up procedure

Answer 15

firm finds a way to consolidate components within an existing family of products to gain scale economies

Question 16

What is top-down

Answer 16

platfrom was desinged at outset to become the basis for a family of products

Question 17

Sections of PIC

Answer 17

Background
- give context, why we doing this
Area of Focus
Focus is achieved by use of 4 types of strengths:
- Technology
- Product experience
- Customer franchise
- End-use experience

• Technology driver
• Marketing driver
  Goals-Objectives
• The objective is measurable shorter term
  Guidelines:
• Rules of road
• Miscellaneous Guidelines
• Degree of innovation

Question 18

Degree of innovativeness

Answer 18

First to market:
- State-of-the-art breakthrough
- Engineering application
- Creative leveraging: find something special, think of an application with this

Imitation/emulation

Adaptive product: Take a competitor product and improve it in some way

Question 19

what is needed for creative process

Answer 19

• Technology
• Form
• Need/benefit

Question 20

What are the souces of needs and problems

Answer 20

• Internal records
• Technical department, marketing department
• Scenario analysis
• Problem analysis: Reverse brainstorming

Question 21

Disciplines panel

Answer 21

assemble experts from all relevent disciplens and let them discuss the problem

Question 22

Four generis risk strategies

Answer 22

• Avoidanc
• Mitigation
• Transfer
• Acceptance

Question 23

Concept testing is usless

Answer 23

• when prime benefit is personal sension
• Is contain new art and entertainment
• Contians new technology the user cannot visualise

Question 24

Product concept

Answer 24

is a statemtn

Question 25

Problems with sales forecasting:

Answer 25

Problems with sales forecasting: * Target users don’t always know what the new product will actually be * Competitors don’t sit still and apply their own strategies * Information about marketing support may be lacking * New products don’t have a history

Question 26

Rogers 5 factors

Answer 26

According Rogers, there are 5 factors that measure how soon new product will diffuse in marketplace: 1. The relative advantage of the new product 2. Compatibility (does it fit with current product usage and end-user activity?) a) Continuous innovation requires little change or learning by customers b) Discontinuous innovation require more learning by customers 3. Complexity (will frustration or confusion arise in understanding the innovation’s basic idea?) 4. Divisibility or trialability (how easily can trial portions of the product be purchased and used?) 5. Communicability or observability (how easy is it for the user to see benefits of using product?)

Question 27

Analytic Hierarchy Process (AHP).

Answer 27

Another technique for product project screening/evaluation is the Analytic Hierarchy Process (AHP). * Systematically gathers expert judgment and uses it to make optimal decisions * Can be applied in full screening to prioritize/select new product projects * Hierarchical decision tree with primary criteria and secondary criteria, which manager considers important in reaching the goal Choices are placed at the bottom of the tree

Question 28

Five requirements for an effective market launch plan:

Answer 28

Five requirements for an effective market launch plan: * Market launch plan is treated as a key part of the new product process. * Planning for the market launch begins early in the new products process. * Market launch plan is based on good-quality market intelligence gathered by new products process. * Sufficient human and financial resources are devoted to the market launch. * Salespeople, technical support people, and other customer service people who are engaged in the product launch should be part of the new product team.

Question 29

Strategic platform decisions:

Answer 29

Type of demand sought Permanence' Aggressiveness Product line replacement Image

Question 30

Role packaging:

Answer 30

Role packaging: containment, protection, safety, display, information and persuasion

Question 31

The launch cycle consists of:

Answer 31

Prelaunch - preannoucnment - hype up Beachhead Early growth

Question 32

postponement,

Answer 32

delaying finalization of product form and identify until late in development process, and delaying commitment of inventory until last possible moment. Postponement actually can be manifested in two ways: - Time postponement (deploy inventory as late as possible) - Form postponement (lock in product design as late as possible)

Question 33

Copy statement

Answer 33

a tool that can be used to convey to every advertising and promotion creative person the following items (among many others):