Learn How To Manage New Product Development (NDP) With These 8 Simple Steps. By Wayne Chen @MobiWayne. Pocket Square Media.

1. Perfecting
New
Product
Development
By:
Wayne
Chen,
@MobiWayne
© 2013!
@POCKETSQRMEDIA | POCKETSQUAREMEDIA.CO!

2. The
following
eight
ingredients
mixed
into
your
team’s
new
product
developmental
(NDP)
process
will
ensure
overall
marketability,
accuracy
and
bring
products
to
market
quickly.
© 2013 POCKET SQUARE MEDIA!
1.
2.
3.
4.
5.
6.
7.
8.
Generating
New
Ideas
Screening
The
Idea
Testing
The
Concept
Business
Analytics
Marketability
Tests
Technicalities
&
Development
Commercialize
&
Launch
Launch
Review
&
Update
@MOBIWAYNE!

3. ¡
¡
¡
¡
Conduct
SWOT
analyses
and
review
market
trends
Account
for
affordability,
ROI,
features
and
distribution
cost
Be
lean,
mean
and
scalable
during
the
process
Create
multiple
versions
of
roadmap
to
meet
different
types
and
risk
levels
© 2013 POCKET SQUARE MEDIA!
@MOBIWAYNE!

4. ¡
¡
¡
© 2013 POCKET SQUARE MEDIA!
Set
specific
criteria
that
your
idea
has
to
meet
based
on
business
and
technical
goals
to
weed
out
poor
project
ideas
Go
or
No
Go
but
narrow
it
down
Measure
your
new
product
idea
against
your
top
3
competitor’s
new
innovation
and
their
market
share
@MOBIWAYNE!

5. ¡
¡
¡
¡
Different
from
marketing
Conduct
patent
research,
design
due
diligence,
and
other
legalities
with
NDPs
Develop
marketing
message
as
part
of
concept
testing
Will
consumers
understand,
need
or
want
your
product?
© 2013 POCKET SQUARE MEDIA!
@MOBIWAYNE!

6. ¡
¡
¡
© 2013 POCKET SQUARE MEDIA!
Agree
and
build
a
system
of
metrics
to
monitor
progress
Add
input
and
output
metrics
that
measure
the
value
of
launched
products,
percentage
of
new
sales
and
other
key
performance
indicators
(KPIs)
Retain
valuable
data
if
the
idea
does
not
turn
into
product
for
future
growth
and
learning
@MOBIWAYNE!

7. ¡
¡
¡
Arrange
private
tests
groups
with
beta
versions
and
gather
feedback
from
end-­‐users
Allows
last
minute
improvements
and
tweaks
before
commercializing
Beta
provides
early
product
adoption
momentum
© 2013 POCKET SQUARE MEDIA!
@MOBIWAYNE!

8. ¡
¡
Technical
aspects
can
be
perfected
without
alterations
to
post-­‐beta
products
The
production
team
can
produces
it,
the
marketing
team
can
plan
the
distribution
and
the
finance
team
can
back
the
product
introduction
monetarily
© 2013 POCKET SQUARE MEDIA!
@MOBIWAYNE!

9. ¡
¡
© 2013 POCKET SQUARE MEDIA!
New
product
has
gone
mainstream,
consumers
are
purchasing
your
good
or
services
Refresh
advertising
during
this
stage
to
keep
product
name
strong
and
planted
in
the
minds
of
buyers
@MOBIWAYNE!

10. ¡
¡
¡
¡
Revisit
the
NDP
process
and
look
for
improvement
areas
Revisit
your
introductory
pricing
and
service
offerings
to
nail
down
the
overall
value
that
customers
will
pay
Continuously
differentiate
your
product
and
adapt
it
to
the
lifecycle
it
is
in
Adjust
for
consumer
needs,
competition
and
profit
models
© 2013 POCKET SQUARE MEDIA!
@MOBIWAYNE!

11. ¡
¡
The
entire
NDP
process
is
an
evolving
testing
platform
where
errors
will
happen,
and
designs
will
be
cut.
Synchronizing
your
team
and
having
a
clearly
goal
will
ensure
your
NDP’s
success.
© 2013 POCKET SQUARE MEDIA!
@MOBIWAYNE!

12. Contact
information
¡ Wayne
Chen
¡ Wayne@PocketSquareMedia.co
¡ @MobiWayne
or
@WayneChenNY
¡ www.PocketSquareMedia.co
¡ Blog:
www.Enovaminds.com
© 2013 POCKET SQUARE MEDIA!
@MOBIWAYNE!