BY: SHIVIKA SURAJ VIVEK ALISHA RAMKISHORE

Idea Generation Idea Screening Concept development & Testing Marketing strategy development Business analysis Product development Market testing commercialization

Idea generation is continuous, systematic search for new product opportunities. Seeking product objectives: * Internal sources * External sources ideas to achieve

Ideas for new products can come from many sources like.

Customers

scientists

competitors

employees

Top management

` ` ` ` ` `

ATTRIBUTE LISTING FORCED RELATIONSHIPS MORPHOLOGICAL ANALYSIS REVERSE ASSUMPTION ANALYSIS NEW CONTEXTS MIND MAPPING

The object is to eliminate unsound concepts prior to devoting resources to them. What the screeners must look into:

Benefit from target marketed customer

x Size and growth forecasts of the market segment/target market x x x x Competitive pressure for the product idea Market trends Technical feasibility Profitability

In screening ideas, the company must avoid two types of errors:

DROP ERROR. GO-ERROR

 ABSOLUTE

PRODUCT FAILURE.

 PARTIAL PRODUCT FAILURE.  RELATIVE PRODUCT FAILURE.

Good ideas are common whats uncommon are people who will work hard enough to bring them about