Download - Introduction to FMCG New Product Development
FMCG Main Characteristics
• Frequentpurchaseandusage(atleastonceamonth)
• Highsalesvolume• Lowprofitmargins• Highstockturnover• Extensivedistributionnetwork
• Substantialcumulativeprofit
• Highcompetition
Customer’s Perspective
Supplier’s Perspective
ProDuCt Dimensions Any product has various dimensions, each dimension is capable of being altered.
Level of Service
Quality Specifications
Bran
d Nam
e
Packaging
Price
Features
Technology
Level of Service
Quality Specifications
Bran
d Na
me
Packaging
Price
FeaturesTechnology
New ProDuCt These alterations create a new dimension and a new product consequently.
New ProDuCt DeveloPMeNt (NDP) It is one of any organisation’s innovation processes; the actual process of transforming a business opportunity into tangible products.
NDP Process
Ideas Generation
Ideas Screening
Concept Development
& Testing
Marketing Strategy
Business Analysis
Technical Implementa-
tion
Test Marketing
Commercial-ization
Monitoring & Evaluation
NDP Involved DepartmentsNPD concerns the management of different departments that are involved and have their own perspectives on its process.
NDP TeamSuccessful NDP needs the participation of a variety of personnel from the organisation’s involved departments, to develop a project proposal into a final product suitable for commercialization.
MorE inForMationTo know more about this topic and how Y&D can assist in your next NPD process, please contact:
Khaled DahiCo-FounderY&D Sustainable Growth Architects
[email protected]/in/kdahitwitter.com/kdahi