success factors of new product introductions
DESCRIPTION
Success and failure of NPI are determined strongly by timing and its relation to segmentation and pricing. This in addition to the strategic use of cannibalisation are the reasons to check out this presentation base on a true life successful product introductionTRANSCRIPT
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Success factors of New Product Introductions
Timing and its relation to segmentation & pricing
- the Keynote Remake -
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... and its relation to cannibalisation
@ReggyMortier @Barco@Vlerick @MarionDebruyne: Product Management@ the most “Ghent”-ile of citiesMay 23, 2011
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High success rate
“Secure” timing
Most beautiful
All the others only yield a 4% success rate !
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Determine Control Secure
Crucial success factors
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Case: Three product lines of “extreme” displays
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For extreme conditions
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On extreme platforms
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In extreme environments
100% humidity, interference, sand and dust
-46°C +71°C
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Low End Market Segment- XK Euro -
High End Market Segment- YK Euro -
@ extreme prices ?
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thinLITE family
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Determine: to fix or find out precisely, calculate
Product (Profit) Life Cycle - Monitoring
Crucial success factor 1
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Determine the right moment by monitoring the profit contribution
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??? RED ???Engineering?!
Product Management?!
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New markets act on different timings
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2003 2004 2005 2006 2007 2008 2009 2010 2011
thinLITE family
Lesson learned - “Marketing” to the rescue
And that’s not just the price
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Low End Market Segment- Losing to disruptive, “good enough” competition -
Main Market Segment- Need for cost optimisation & portfolio extension -
Emerging Market Segment- opportunity for segment leadership -
Product / Profit Life Cycle Analysis
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Control: be in command of, manage, restrain
Product Line (Portfolio) Management
Crucial success factor 2
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Control by strategically using ....
Cannibalisation
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Lost Profit byBad Cannibalisation
Cannibalisation risknot so much unlike in the movies ...
at least for the product manager’s career ...which will be short-lived
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Hooray Ingrid, Kim and Stijn
http://bit.ly/kn4bio
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Hooray Ingrid, Kim and Stijn
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What about ... Youri
try to get a copy of the Harvard case, really nice case
(feel free to ping if you can’t find it)
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What about ... Youri
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What about the best in class, like ... Pieter
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What about the best in class, like ... Pieter
What is that ?!?!
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BIO-MIMICRY story
Eliminate Competition
- Procreation -
Secure Food For Offspring
- Procreation -
Cannibalise for maximum RETURN only
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Cannibalise for maximum PROFIT only
Chapter 11
Cannibalisation as competitive strategy
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NPI was 2 years 2 early
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Secure
Secure: make certain or safe, succeed in getting
Customer Engagement & Phased Introduction
Crucial success factor 3
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Not only to avoid the “Voice of the Customer” TRAP !
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by sharing & hence mitigating the risk of NPI
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But foremost to create customer delight !
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Delight at lower cost
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Low End Market Segment
Main Market Segment
Emerging Market Segment
Phased intro (time/segment) to maximise total profit !
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Determine the right moment by monitoring profit contribution
Control the right moment bystrategic cannibalisation
Secure the right moment bycustomer engagement & phased introduction
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