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What are the main stages in developing new product & services
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Transcript of What are the main stages in developing new product & services
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What are the main stages in developing new
product & services??
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Generating Ideas
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It starts with search of ideas
Ideas can come from interacting with various group
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Demand-First innovation & Growth
• The Demand landscape
• The opportunity space
• The strategic blueprint
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Interaction with others•Customers
•Scientist•Engineers•Employee•Members •Top Management
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Never
•Assume that “ready to do” ideas found outside are truly ready to go.•Underestimate the internal resource required• Launch without a mandate from CEO
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Interaction with employee
Employees can be source of ideas for improving production, Products and Services.
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Studying Competitions
Companies can find good ideas by research of competitor products.
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Adopting Creativity Technique
• Attribute Listing
• Forced Relationship
• Morphological Analysis
• Reverse Assumption Analysis
• New Context
• Mind Mapping
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Using Idea Screening
OverallProbabilityOf success
XXOverall Probability of Success
=
Probability of Technical completion
Probability of commercialization of given technical completions
X XProbability of Economic success given commercialization
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Recap:• Generating Ideas
• Best new product ideas are right in front of marketer eyes
• Demand first innovation and growth
• Interaction with others
• Interaction with employees
• Studying competitions
• Adopting creativity technique
• Using Idea screening
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Credits:• www.google.com
• www.flickr.com
• www.hdwallpapers.com
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Created by: Ishwarkumar Teggi,
Siddaganga Institute of Technology, Tumakuru
During an Marketing Internship by
Prof. Sameer Mathur,
IIM Lucknow.(See:www.IIMInternship.com)
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THANK YOU…