Creating and designing the new best seller new, entrepreneurial product design,new product design
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Transcript of Creating and designing the new best seller new, entrepreneurial product design,new product design
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CREATING AND DESIGNING THE NEW BEST SELLER
Mesmerize and Magnetize the Buyers
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E.G. Product Design Process Flow
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Product Design – Starting Point of Value Chain
Creating Value
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Value creation
Business adds value
Value is wealth creation
Product innovation adds value
Product design is the start:
VALUE CREATION
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Product Design is Customer Centric
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Creative process
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A new backpack design
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Car design sells; less dependent ontechnology
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Objectives of product design
Differentiation and uniqueness. The design features must be COMPELLING; must MESMERIZE/MAGNETIZE BUYERS!
That the product sells by itself.
To get the job done – to deliver value to the to the customer.
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Processes in product design
1. Creative process- artistic, appeal to
to the five senses.• ideation• brainstorming• mock up prototype
2. Technical process- the required inputs
BOM, machinery, manpower, and engineering process needed to produce
the product
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3.Business processes – market research, FGD, UAI study, the COGS, GP, distribution, marketing, advertising, sales efforts needed to sell the product.
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Factors to Consider in Product Design
Product variants – size, sku, color, style, seasonality, features.
How is the product actually used?
Substitute products/competitive products
Who actually uses the product?
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Simplified steps in product design
What is the problem/job?
What are the many ways to solve the problem do the job?
What is the best way to do the job
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Unique Selling Proposition(Differentiation)
Differentiate or die
Difference between a businessman and entrepreneur
BUSINESSMAN
Me too
Copier
Static
ENTREPRENEUR
The only one
Copier too with add-ons
Dynamic
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How to be differentiated?
Naming the product:Easy to pronounce Zagu
Few syllables
Xerox
Exxon
Apple
Canon
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How to differentiate?
Naming the product:Easy to pronounce
Easy to remember
The name must convey the MVP/product
features:
E.g. COAT SAVER
SWEET AND SOUR
QUICK FIX
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Use of alliteration in names:
GERRY’S GRILL
BOOKAY UKAY
DUNKIN DONUTS
NISSAN
TOYOTA
NIKON
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Value DeliveryValue is not = Price
Price is set by the enterprise
Value is determined by the customer
Thus customers will pay more for a product which is delivered fast vs a cheaper product
that is delayed.
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Methods of New Product Design
Creating an entirely, never before made product-an invention, a breakthroughReformulating, tweaking, redesigning an existing tired old product.Rebranding an old product.
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Improving an Existing Product
1.Magnify – make bigger and faster, examples:
AIRBUS 380
CONCORDE
FAMILY SIZE
MCLAREN
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Product design
2. MINIFY (make smaller lighter)
for example:Nokia cellphone (vs older Motorola)MicrochipsNotebooksMiniskirtHatchbacks
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Product design
3. CHANGE THE PROCESS (or even the inputs)
BREWED VS INSTANT COFFEE
GRILLED VS STEAMED
WOOD VS LPG COOKING
FAST VS SLOW COOKING
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Product design
4. MUMIFY (lengthen shelf life)e.g Vacuum sealedFreeze blastPreserved in olive oil
5. MAKE IT THE FRESHESTCooked in front of youPick your own
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The ultimate result of product design:
Not merely cosmetic nor skin (packaging) deep;
Must change industry rules;
Must be disruptive:
Usually results in lower costs
Displaces industry giants/leaders
Transfers value elsewhere
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Examples of disruptive products
Encarta disrupted Britannica; in
turn, Wikipedia disrupted
Encarta.
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Disruptive product
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Disruptive Product
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Disruptive – Cebu Pacific
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Tata Nano - Disruptive
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Disruptive
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What’s the new disruptive product from this Class?
What is the next blockbuster, bestseller from your
imagination?
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Product Design
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Corporate Product Design Team
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Product design drawings
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Product Design Process
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Product design drawings
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Other product design process
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A new bed design