Risk, constant partner
1. New products will only succeed if people buy them.
Studies have shown that 50% or more of new products will fail. why?
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Not because they don't work -
Not because they are not good products. -
Not because of technical issues.
So why?
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Misunderstanding of customer needs.
If you don't understand the customer's needs or needs, you can't meet your needs.
Customer integration
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Integrate customers into innovation. -
Ask about product ideas -
Only pursue the most popular -
Get a purchase commitment before final development -
This is called "collective customer commitment."
Major changes are needed.
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Traditional new product development process. -
The composition of the new product team. -
Engage customers, designers, production and management personnel in NPI decisions. -
Reduce the risk of failure by obtaining purchase information prior to production. -
Sold before you produce.
Limitations of traditional market research
Focus group
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Too small to show the population. -
Lack of realism, only a verbal description of the product. -
Not a measure of true purchase behavior
2. Test Marketing
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expensive -
Time consuming -
Exposure to high levels of noise from competitors.
Thought food
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Only 50% of Fortune 500 companies use focus groups. -
Less than 25% of Fortune 500 companies use limited launch or concept testing. -
Many consumer goods companies investigate potential customers from time to time. -
Excuses; "customer behavior is often unpredictable"
So what do they do "do"
1. They develop variants of existing products.
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Different sizes -
Added functionality
They postpone manufacturing until they see what they will sell.
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Inventory or manufacture common components.
3. Manufacture as needed. Fully customized.
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The customer defines a product for manufacturing.
Collective customer commitment
1. Not a new idea
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Buy a new home from the plan. -
Concept product evaluation purchase intention
2. What is new?
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This concept is used in fast moving consumer goods.
3. why?
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Consumers are now more aware of the situation. -
They want to have a bigger say in the products they buy.
Collective customer commitment
1. Very successful in testing innovative products.
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Yamaha, electronic guitar. Help learn how to play the guitar. Booking is enough to allow production
2. When the market segment is very small, it is very successful
The best of both worlds
1. Whether the collective customer promises to suit all companies
2. No.
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It is suitable for some companies and not for other companies. -
Some companies will use a mix of traditional and collective customer commitments. -
For companies that can use it, collective customer commitment can significantly reduce the risks associated with new product development.
Orignal From: Reduce the risk of new product development
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