Challenges Faced

In Developing

New Products And Services

By Mausumi Mohanta

Market Keeps Changing

New ,Improved Or Replacement

Products And Services

Come And Go

New Products Maintain Or Build Sales

Challenges Faced By Company

• Innovation Imperative

• New Product Success

• New Product Failure

The Innovation Imperative

• Continuous innovation is a necessity

The Innovation Imperative

• Continuous innovation is a necessity

• Creating New Choices From Hidden Aspects

And Ignored Processes

The Innovation Imperative

• Continuous innovation is a necessity

• Creating New Choices From Hidden Aspects

And Ignored Processes

• Need For A Positive Attitude Towards

Innovation And Risk Taking

Guide Posts For Innovation

• Affordability • Appropriateness

• Sustainability

Established Companies

New Product Success

INCREMENTAL INNOVATION

Newer Companies

DISRUPTIVE TECHNOLOGIES

Established Companies Face Danger

From Newer Companies

Because Of Disruptive Technologies

That Pose Risk To Their Investments.

Product Success Factors

• Unique Superior Product

• Well defined Product Concept

• Technological, Marketing

Synergy

• Market Attractiveness

New Product Failure

Study Shows – Higher Failure Percentages

-- Lower Success Rates

Of New Products Launched

Failure Due to

• Misinterpreted Market Research

• High Development Costs • Ineffectual Performance

• Incorrect Positioning • Insufficient Distribution

Support

• Tough Competitors • Inadequate ROI/Payback

• Overestimation Of Market Size

Companies Need To Overcome

All CHALLENGES

To

Succeed And Grow