80 lines
4.4 KiB
Markdown
80 lines
4.4 KiB
Markdown
# Chapter 7: New Offerings
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## 7.1 The New Offering Development Process
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### 7.1.0 Definitions
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A structured process followed by businesses to create, refine, and bring new products or services to market.
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- Focuses on innovation and problem-solving for customers.
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- Reduces risks by evaluating ideas at various stages.
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### 7.1.1 Idea Generation
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- **Definition:** The process of brainstorming and gathering new product ideas based on solving customer needs or exploring innovative opportunities.
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- **Sources of ideas:** employees, customers, suppliers and competitors.
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Examples of Idea Sources
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- **Employees:** For example, a Motorola engineer invented a phone-charging product while rollerblading.
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- **Customers:** JCPenney involves customers in developing new lingerie designs for practical feedback.
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- **Suppliers:** DuPont worked on new materials that led to innovative golf balls in partnership with Titleist.
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- **Competitors:** Huawei closely observes Apple's products and adapts learning in their Mate series.
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### 7.1.2 Idea Screening
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- **Definition:**
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Filtering and evaluating ideas to eliminate those unlikely to succeed.
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- **Objective:** Save time and resources by focusing only on viable concepts.
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### 7.1.3 Feature Specification
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To understand the balance between cost, competitive pricing, and customer value.
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- Breaking down product features and deciding which benefits to include at varying price points.
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- Uses tools like Quality Function Deployment (QFD).
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### 7.1.4 Development
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Create prototypes; consider manufacturing, timelines, and costs.
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### 7.1.5 Testing
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| **Testing Method** | **Definition** | **Objective** |
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| ------------------------------------ | ------------------------------------------------------------ | ---------------------------------------------- |
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| **Alpha Testing** | Internal testing by employees/teams. | Identify bugs early in development. |
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| **Beta Testing** | External testing by a small group of users. | Gather real-world feedback pre-launch. |
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| **Usability Testing** | Evaluates how efficiently users interact with the product. | Enhance user experience (UX). |
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| **A/B Testing** | Compares two product variations to identify better performance. | Optimize design, features, or engagement. |
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| **Stress Testing** | Tests product performance under extreme conditions. | Ensure stability and scalability. |
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| **Crowd Testing** | Testing by a diverse group of real-world testers ("crowd") globally. | Gain feedback from real-world scenarios. |
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| **Automated Testing** | Uses automation tools to execute and analyze tests. | Speed up process and improve accuracy. |
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| **Exploratory Testing** | Unscripted testing focusing on identifying unique or unexpected issues. | Expand test coverage creatively. |
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| **Agile Testing** | Integration of testing in every stage of Agile development cycles. | Continuous feedback and faster iterations. |
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| **Mobile Testing with Real Devices** | Testing mobile apps/websites on real devices to ensure real-world performance and compatibility. | Ensure functionality across devices/locations. |
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### 7.1.6 Launch or Commercialization
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- **Definition:**
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Introducing a product to the market with a targeted customer strategy.
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- **Types of Launch:**
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- **Full Launch:** Global rollout (e.g., Apple iPhone launch events).
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- **Rolling Launch:** Gradual introduction by region or segment (e.g., Huawei's phased market launches for new MateBook laptops).
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### 7.1.7 Evaluation
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- **Definition:**
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Reviewing the success or performance of the product after launch.
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- **Metrics to Analyze:**
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Customer satisfaction, sales volume, and key feedback in the first 90 days.
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## * 7.2 Managing New Products: The Product Life Cycle
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- **Introduction Stage**: When a product is launched in the market with heavy advertising.
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- **Growth Stage**: When sales grow rapidly, causing competitors to enter the market.
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- **Maturity Stage**: When sales stabilize and companies focus on staying competitive.
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- **Decline Stage**: When sales drop as interest fades or newer products replace the old ones.
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