Best ways to manage Best ways to manage new-product new-product developmentdevelopment

What is new What is new product product

development?development?Complete process of bringing a Complete process of bringing a

product to the market. product to the market. Improved or replacement Improved or replacement products and services that products and services that

maintain or build sales.maintain or build sales.

How to manage new-product How to manage new-product development?development?

Identify unmet Identify unmet customer needs.customer needs.

Research your ideasResearch your ideas

Find tax efficient Find tax efficient ways to support ways to support innovation.innovation.

Ways to manage new-product Ways to manage new-product developmentdevelopment

Managing innovation Managing innovation and idea generation and idea generation process.process.

Development and Development and concept strategyconcept strategy

Protect ideasProtect ideas

CommercializationCommercialization

Managing new ideasManaging new ideasInteract with othersInteract with others

Interacting with Interacting with employeesemployees

Studying competitorsStudying competitors

Adopting creative Adopting creative techniquestechniques

Use idea screeningUse idea screening

Support innovation with finance and Support innovation with finance and tax efficient ways.tax efficient ways.

A new idea should be protected with A new idea should be protected with Intellectual Property Rights (IPR)Intellectual Property Rights (IPR)

CommercialisatCommercialisationion

• When (Timing)When (Timing)• Where (Geographical Strategy)Where (Geographical Strategy)• To Whom (Target-market To Whom (Target-market

prospects)prospects)• How (Introductory Market Strategy)How (Introductory Market Strategy)