HELLO!

I am Tran Tri Dung

Founder & CEO Công ty Cổ phần WMS
Giảng viên Chuyên ngành Marketing, Đại học Hoa Sen

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 9.
New Product
Development and
Product LifeCycle
Strategies

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 Contents

▸ New Product Development Strategy

▸ New Product Development Process
▸ Managing New Product Development
▸ Product Life-Cycle Strategies

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 New Product Development
Strategy

Acquisition refers to New product

the buying of a whole development refers to
company, a patent, or a original products,
license to produce product improvements,
someone else’s product product modifications,
and new brands
developed from the
firm’s own research
and development

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 “
Theo ước tính, 80% số sản phẩm
mới bị thất bại hoặc thu được kết
quả kém xa mức kỳ vọng

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 Reasons for new product failure
Overestimation of market size
Poor design
Incorrect positioning
Wrong timing
Priced too high
Ineffective promotion
Management influence
High development costs
Competition

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 New Product Development
Process

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 Idea Generation

Idea generation is the

systematic search for
new product ideas
Sources of new-
product ideas
▸ Internal
▸ External

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 Idea Generation

Internal sources refer External sources refer

to the company’s own to sources outside the
formal research and company such as
development, distributors, suppliers,
management and competitors,
staff, and customers, and
intrapreneurial outside design firms
programs

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 “
Khảo sát 750 tổng giám đốc trên toàn
thế giới cho biết chỉ có 14% số ý tưởng
mới xuất phát từ phòng R&D, 41% đến
từ các nhân viên và 36% đến từ người
tiêu dùng.

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 New Product Development
Process

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 Idea Screening

▸ Identify good ideas and drop poor ideas

▸ R-W-W Screening Framework:

Is it real?

Is it
Can we
worth
win?
doing?

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 New Product Development
Process

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 Concept Development and
Testing

Product idea is an Product concept is Product image is

idea for a possible a detailed version of the way consumers
product that the the idea stated in perceive an actual
company can see meaningful or potential product
itself offering to the consumer terms
market

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 Concept Development and
Testing

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 Concept Development and
Testing

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 Concept Development and
Testing

▸ Concept testing refers to testing new

product concepts with groups of target
consumers

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 New Product Development
Process

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 Marketing Strategy
Development

▸ Marketing strategy development refers to

the initial marketing strategy for introducing
the product to the market
▸ Marketing strategy statement includes:

Description of
Value Sales and profit
the target
proposition goals
market

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 Marketing Strategy
Development

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 New Product Development
Process

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 Business analysis

▸ Business analysis involves a review of the

sales, costs, and profit projections to find
out whether they satisfy the company’s
objectives

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 New Product Development
Process

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 Product development

▸ Product development involves the creation

and testing of one or more physical versions
by the R&D or engineering departments
▸ Requires an increase in investment

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 New Product Development
Process

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 Test marketing

▸ Test marketing is the stage at which the product

and marketing program are introduced into more
realistic marketing settings

Standard test markets

Controlled test markets

Simulated test markets

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 Test marketing

When firms test market When firms may not test

New product with large market
investment Low costs
Uncertainty about product Simple line extension
or marketing program Copy of competitor
product
Management confidence

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 New Product Development
Process

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 Commercialization

Commercialization is the introduction of the

new product
▸ When to launch
▸ Where to launch
▸ Planned market rollout

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 Managing New Product
Development

Successful new-product development should be:

Customer
centered

Team
Systematic
centered

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 Product Life-Cycle Maximize
Strategies profit while
defending
market
share

Creat Maximine Reduce

product market expenditure
awareness share and milk the
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 THANKS!
Any questions?
You can find me at https://trantridung.vn/

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