TOPIC: How to win the new product game. Before launching an product/service an company must consider some of the aspects to make successful entry or to win over the market. here in this presentation some of those are discussed. prepared for educational use by team of DSCE 2014 source: GOOGLE

1. Wining the new product
game

2. How to make a product: To win
 Launching a new product can be exciting time for any company.
 Whether it is the first product the company has offered, or an
addition to already existing line, there is lot of enthusiasm and
buzz around, which is dreamt as success.
 There are few things that every company has to prepare for the big
reveal.
Here, we are going to discuss about few those.

3. INNOVATION OR DIE
• product innovation is now the No. 1 plan in many
companies.
 For example, in the United States, new products now account for
about 50 percent of companies' revenues from sales and 40
percent of their profits.
• Most Admired Companies contains the most innovative firms in
America: Intel, General Electric, Johnson & Johnson and others.
• The problem is that winning with new products is not so easy.
• Only 25% development projects succeeds and 75% of all new
products launch fails.

4. • In recent years, much research has been directed to
uncovering the secrets to new-product success: What do the
winners do differently?
• Our research has led to many prescriptions – including
Stage-Gate methods and others.

5. Questions to be answered: @product.
 Does your product have unique features?
 You cant roll out the “same-old, same-old”. Your product has
got to have a cool new look that’ll make the consumer sit up
and notice.
 Does it have mass appeal?
 In other words, is it something that will sell to the stay at
home mother of four and as well as the laymen?

6.  Does it solve a problem?
 Think of something around the house that’s troublesome and
invent a solution. If your product doesn’t solve a problem, you’ve
got a potential problem- consumers aren’t likely to buy it.
 Can you easily explain how it works?
 There has to be an easy-to-understand explanation of how and
why your product works. If it takes a college degree to understand
its too complicated.
You only grab people for a couple of seconds- so you have to
tease, please and seize the customer.

7.  Is it multifunctional?
 Think like your competitor. If you come out with a product
that has just one function, your competitor can steal your
thunder – and your sales – with a similar product that offers
more functions.
 Are there proven results?
 Be prepared to back up your claims with unshakeable
success stories or scientific studies, including third-party
clinical studies or reviews from product-testing labs that
support your claims.

8.  Can you answer the questions the viewer is thinking?
 You must be prepared for any and all questions that could
arise over your product. Put yourself in the shoes of
consumers, and think of all the questions they could ask.
 Is there a magical transformation or demo?
 Before-and-after spots – showing easily noticeable
differences are powerful marketing tools.

9. CRITICAL SUCCESS FACTORS
1. Seek differentiated, superior products.
The top success factor is delivering a differentiated product
with unique customer benefits and superior value. Such
superior products have five times the success rate.
2. Up-front homework pays off.
Too many new-product projects move from the idea stage right
into development with little or no up-front homework. The
results of this approach are usually disastrous.

10. 3. Build in the voice of the customer
Successful businesses and teams that drive winning new-product
projects have a slave like dedication to the voice of the customer.
strong market orientation and customer focus is noticeably absent
from many businesses’ new product projects.
4. Demand sharp, stable and early product definition
A failure to define the product before development begins is a
major cause of both new product failure and serious delays in
time-to market.

11. 5. Build tough Go/Kill decision points into your process
Too many projects move too far into development without serious
scrutiny. The result is that many marginal projects are approved
and scarce resources are allocated improperly.
6. Plan and resource the market launch early in the game
A strong market launch underlies the success of any product. For
example, new-product winners devote more than twice as many
person-days and dollars to the launch as do those that fail.

12. 7. Organize around true cross functional project teams
Studies says that good organizational design is strongly linked to
success. Good organizational design means projects which are
organized led by a strong project leader accountable for the entire
project from beginning to end, dedicated and focused.
8. Attack from a position of strength
Its seems to be an old adage, but this factor is key for any new
product to win the competencies they need to be strong between
resources, strengths and experience of the company in terms of
marketing, distribution & technology.

13. 9. Build an international orientation into your new-product process
New products aimed at international markets and designing
products to meet those inter national needs in the market. The
strategy of ‘design for local needs and adjust for export later” also
does not work well.
10. The role of top management is central to success.
Top-management support is a necessary ingredient for product
innovation, though it must provide the right kind of support. Top
management’s main role is to set the stage for product innovation
as an actor, front and Centre.

14. ADOPT A STAGE-GATE® NEW PRODUCT
PROCESS
WHAT IS A STAGE-GATE® PROCESS?
• A Stage-Gate process is a conceptual and operational road
map for moving a new-product project from idea to launch
— a blueprint for managing the new-product process to
improve effectiveness and efficiency. Stage-Gate approaches
break the innovation process into a predetermined set of
stages, At the entrance to each stage is a gate, which serves as
the quality control and Go/Kill check point in the process.

15. Simple Map of a Stage-Gate Process

16. Stage 1: Scoping: a quick investigation and sculpting of the project.
Stage 2: Build the business case: the detailed homework and up-front
investigation work leading to a business case; a defined product, a business
justification and a detailed plan of action for the next stages.
Stage 3: Development: the actual design and development of the new product.
Additionally, the manufacturing (or operations) process is mapped out, the
marketing launch and operating plans are developed, and the test plans for the
next stage are defined.

17. • Stage 4: Testing & validation: the verification and validation
of the proposed new product, its marketing and production.
• Stage 5: Launch: full commercialization of the product—
the beginning of full production and commercial launch and
selling.

19. •Thank
you
Presented by team,
Mohammad Shabbir.
Manisha B
Manthan Roy
Manjunath S M
Manjnath V