This document provides a full overview of the contents of 1ZV30 Product Innovation Processes lectures. Including figures and tables and examples given during lecture.
Veel gekopieerd letterlijk uit de slides, weinig extra informatie over wat de professor in college heeft verteld. Jammer want je andere samenvattingen zijn erg goed.
Including information of lecture sides, figures, tables and
examples given during lecture
Copyright – SE Stalpers
,List of contents
Lecture 1 – Introduction to product innovation and processes .....................................................................3
Types of product innovation.......................................................................................................................3
Importance and objectives of product innovation .....................................................................................4
Product innovation processes ....................................................................................................................5
Strategic planning for product innovation .................................................................................................6
Lecture 2 – Customer analysis & Idea generation ..........................................................................................7
Opportunity & Problem identification ........................................................................................................7
From opportunity to concept .....................................................................................................................9
Ideation & creativity .................................................................................................................................10
Ideation and concept development processes.........................................................................................10
Lecture 3 – Concept evaluation, testing .......................................................................................................11
The evaluation system ..............................................................................................................................12
Idea evaluation .........................................................................................................................................13
Concept testing .........................................................................................................................................13
Product protocol .......................................................................................................................................14
No risk, no reward - Concept of risk ........................................................................................................16
How to measure risk? ...............................................................................................................................17
Risk mitigation and risk management .....................................................................................................19
Lecture 4 – Designing & Managing the development phase ........................................................................19
The design of new products .....................................................................................................................20
Types of product development activity ....................................................................................................21
Designing the Product Development Process ..........................................................................................23
Development team management ............................................................................................................25
Product use testing ...................................................................................................................................27
Lecture 5 – Managing the launch phase .......................................................................................................28
The launch phase ......................................................................................................................................28
Marketing launch......................................................................................................................................29
Lecture 6 – Product development best practices .........................................................................................34
Best Practice Studies – CPAS ....................................................................................................................34
Idea generation processes ........................................................................................................................36
Project evaluation and selection ..............................................................................................................36
Mortality or decay curve ..........................................................................................................................37
Managing cross-functional team ..............................................................................................................37
Strategic launch decisions ........................................................................................................................38
Conclusions ...............................................................................................................................................38
2
,Lecture 1 – Introduction to product innovation and processes
Types of product innovation
Last new product bought:
These products are placed on a
map on the dimensions old-
new and service-product
- Products are new due to
time they are on the
market, market related
competition in this product,
and the newness for the
company itself.
Last thing paid money for:
These products are also placed
on a map on the dimensions old-new and service-product
- Why did you write down two different things? You might pay for a service as well as for
products so here you might have written down a service instead of the product mentioned
in the first question.
A lot of things you buy are not pure goods or pure services, but can as well be something in between.
A car is a product (physical), however the service (repair/maintenance) are important as well and need
to be designed and developed and are paid for.
Product innovativeness is a trade-off between newness to a firm (is the company known with the
product/service) and newness to the market (are you the first one bringing it to market?). Some
people might include another dimension: technology (is the technology new to the world?).
- Cost reduction such as laptops: there are many cost reductions but the market is quite
mature. Many companies are developing these products further to improve and have
better competition on the market.
- Revisions: newer iPhone
- New product line such as Boerenland:
in terms of technology it is not that
complicated, however there are a lot
of costs in developing
- Additions to existing product lines:
Lays with a new crisps taste
- Repositioning: other packaging
- New to the world products
There are different types of consumer products from convenience goods, white goods, fast-moving
goods, high-tech products and shopping goods. In general they follow the same process, however in
some steps they differ in how important that step is. Besides, the business-to-business products use
another process to market.
3
, Importance and objectives of product innovation
Typical product lifecycle on the right
containing the launch of the product, growth
in terms of revenue and then there is a phase
where competition comes up and therefore
in most product there comes a decline in
revenue. That is the phase where it is most
important to innovate. 25-49% of the profit
comes from new products. If you’re able to
come up with a new product at the right
moment, you are able as a company to
maintain your revenue stream. Ongoing or
growing profit requires new products. Companies should innovate.
We should study product innovation because it is a very complex process with a lot of people from
different divisions involved. There might be complex technology involved and uncertainty in the
market. There are methods and tools available to guide this process. Many products fail in the market
and it is up to us to find successful ways to launch.
There is another reason why we should
study product innovation: because of the
picture on the right most of these
functions are involved in product innovation
in some way. No matter where you go with
your carrier you need to know about
innovation.
Innovation is an uncertain and iterative
process with many internal and external
influencing factors and many people
involved. Many mistakes are made.
Research shows that 40% of the products
that are introduced to the market end up in
a failure. Some product flops: new flavour
coke where the product cannot be
improved. Apple’s messagepad2100 was a
failure because of bad functioning, too high price and too early introduction. It is not only about
products, it is just as well about timing to the market and the best practices and ways to success.
The aim for product innovation is to add value. This is done by internal learning and knowledge and
to have a positive reception by customers of market. This leads to marketing success in terms of brand
visibility, brand availability etc. But most important in economic success such as sales, revenue, return-
on-investment and profit. On long term you need economic success to maintain as a company. High
level view of the course: WHAT to manage HOW in order to add value?
4
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