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Kotler • KellerPhillip Kevin Lane
Marketing Management • 14e
Chapter 20
Introducing New Market Offerings
Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Slide 3 of 31
Discussion Questions
1. What challenges does a company face in developing new products and services?
2. What organizational structures and processes do managers use to oversee new-product development?
3. What are the main stages in developing new products and services?
4. What is the best way to manage the new-product development process?
5. What factors affect the rate of diffusion and consumer adoption of newly launched products and services?
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New Product Options
Make or Buy
Types of New Products
NewImprovedFormula
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New-Product Development Challenges
The Innovation Imperative
New Product Success
New Product Failure
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Organizational Arrangements
Customer-driven Engineering
Budgeting for NPD
Organizing New Product Development
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Tabl
e 20
.1
Finding One Successful New Product
StageNumber of Ideas
Pass Ratio
Cost per Idea Total Cost
1. Idea Screening 64 1:4 $1,000 $64,000
2. Concept Testing 16 1:2 20,000 320,000
3. Product Development 8 1:2 200,000 1,600,000
4. Test Marketing 4 1:2 500,000 2,000,000
5. National Launch 2 1:2 5,000,000 10,000,000
$13,984,000
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Organizing New Product DevelopmentCross-functional Teams
“Skunkworks”
Stage-gate Systems
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Figu
re
20.1
New-Product Decision Process
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Generating IdeasEmployees
Competitors
Crowd Sourcing
Lead Users
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Creativity Techniques
Lateral Marketing
Mind Mapping
Attribute Listing
Morphological Analysis
Forced Relationships
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Ideas – Screening
Product Success Requirements
Relative Weight (a)
Product Score (b)
Product Rating (c=a x b)
Unique or superior product .40 .8 .32
High performance-to-cost ratio .30 .6 .18
High marketing dollar support .20 .7 .14
Lack of strong competition .10 .5 .05
Total 1.00 .69
Overall probability of success
Probability of technical completion
Probability of commercialization given technical completion
Probability of economic success given commercialization
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Figu
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20.2 Forces Fighting New Ideas
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Concept to Strategy
Concept Development Business Analysis
Marketing Strategy Development
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Concept Development
Concept 2
Concept 3Concept 1
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Figu
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20.3 Continuum of Evaluation for Products
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Concept Testing
Product Dimensions
1.Communicability and Believability
2.Need level
3.Gap level
4.Perceived value
5.Purchase intention
6.User targets, purchase occasions,
frequency
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Figu
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20.4 Conjoint Analysis
Design Elements•Three package designs (A, B, C)
•Three brand names (K2R, Glory, Bissell)
•Three Prices ($1.19, $1.39, $1.59)
•A possible Good Housekeeping seal (yes, no)
•A possible money-back guarantee (yes, no)
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Figu
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20.5 Continuum of Evaluation for Products
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Marketing Strategy Development
Marketing Mix
Target Market’s • Size• Structure• Behavior
Marketing-mix strategy
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Business Analysis
Estimating Costs and ProfitsEstimating Total Sales
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Figu
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20.6
PLC Sales for Three Types of Products
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Development to CommercializationProduct Development
Commercialization
Market Testing
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Product Development
Physical Prototype
Alpha Testing(Internal)
Beta Testing(Customers) Customer Tests
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Market Testing
Simulated Test Marketing
Controlled Test Marketing
Sales-Wave Research
Test Markets
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Commercialization
How?
To Whom?
When?
Where?
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The Consumer-Adoption Process
Stages in the Adoption Process
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The Consumer-Adoption Process
Influencing Factors
• Buyer Readiness
• Personal Influence
• Innovation Characteristics
• Organizations Readiness
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Buyer Readiness
Innovators
Early Adopters
Early Majority
Late Majority
Laggards
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Figu
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20.7 Continuum of Evaluation for Products
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Innovation Characteristics
Communicability
Relative AdvantageCompatibility
Complexity
Divisibility
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