Intelligent Business

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INNOVATION

TUTORIAL FOCUS

COMPREHENSIVE QUESTIONS

CHAPTER’S OVERVIEW

KEY TERMS DICUSSION

DISCUSSING ACTIVITIES

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DISCUSSINGQUESTION

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SUMMARYCASE STUDY

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What is a product? Product: Anything offered to a market

for attention, acquisition, use, or consumption that might satisfy a need or want.

What is a service? Service: A form of product that consists

of activities, benefits or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything.

I. INTRODUCTI TO A PRODUCT

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AUGMENTED PRODUCT

Warrantee

Delivery

Service

Finance

Customer Care ACTUAL

PRODUCTQuality

Fashion

Branding

Colour

Style

II. COMPONENT OF PRODUCT OFFERING

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Core productBenefits

III. THE SERVICE ELEMENTS

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Element of service

Perish ability

Cannot store Inseparabilit

yService and

providers cannot separate

Intangibility

service quality signals

Lack of ownership

Invisible identify

VariabilityAspect of service

IV. USES AND LIMITATIONS OF PRODUCT LIFE CYCLES

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V. MANAGING PRODUCT PORTFOLIOS

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Research and Development

Cash generated 0Cash used - - - Net - - -

Our competition positionLowHigh

Mar

ket a

ttrac

tiven

ess

Low

High

V. MANAGING PRODUCT PORTFOLIOS

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V. MANAGING PRODUCT PORTFOLIOS

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Red: harvest or divest product, stop investing in new products, markets, or technology.

Yellow: hold market share

Green: Build market share; invest in new products market, or technology.

There is much debating about new product development (NDP) as to what is meant the term new product.

VI. MANAGING NEW PRODUCTS

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DISCUSSINGQUESTION

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Product improvement

• Maintain

• Adapting

appeal

Product imitation

• Imitation or copy

• Add dimension

& value

There are some common reasons why new product fail

VII. WHY DO PRODUCT FAIL?

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DISCUSSINGQUESTION

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NPF

Fail to deliver any customer benefits

Under-investmen

tForecasting error

Internal policy,

trade offs, and

compromise

VIII. NEW PRODUCT DEVELOP MENT PROCESS

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VIII. NEW PRODUCT DEVELOP MENT PROCESS

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The reality of business life require management to develop the right products in the increasing shorter time frame. Here are the principle to do it.

® Multi-functional team® Completeness and evaluation® Consumer involvement® Parallel processing® Strategic direction

VIIII. MANAGING INNOVATION

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DISCUSSINGQUESTION

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Process development

Corporate strategy

• Direction• Analysis• Objective

External environment

Internal environment

Marketing strategy

Technical development

SUPPORT & SYSTEM

VIIII. MANAGING INNOVATION

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DISCUSSINGQUESTION

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INNOVATION

TEAMWORK

EXTERNAL OUTPUT

EXCHANGE OF

INFORMATION

REWARDSENIOR MANAGEMEN

TSUPPORT &

SYSTEM

X. E-MARKETING PERSPECTIVE

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KNOWLEDGE SHARING ACTIVITIES

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Questions & Comments???

THANKS FOR YOUR GOOD

PARITICIPATION!!!