DEVELOPING NEW PRODUCTS

AND MANAGING THE PRODUCT

LIFE CYLCE
Dr. Andri dayarana K. Silalahi, Ph.D.
 01 NEW IDEAS 04 ISSUES OF PLC

OUTLINE
02 COMPANY’S
DECISION 05 PAPER
DISCUSSION

03 STEPS OF PLC
 NEW PRODUCT DEVELOPMENT STRATEGY

THE DEVELOPMENT OF ORIGINAL PRODUCTS, PRODUCT

IMPROVEMENTS, PRODUCT MODIFICATIONS, AND NEW
BRANDS THROUGH THE FIRM’S OWN PRODUCT
DEVELOPMENT EFFORTS.
THE NEW PRODUCT DEVELOPMENT PROCESS
 Internal Idea Sources
ESTABLISHING R&D RESEARCH CENTERS

HARNESSING INTERNAL CREATIVITY

CONDUCTING FOCUSED HACKATHONS

RECOGNIZING “HIDDEN” IDEAS

REPURPOSING EXISTING PRODUCTS

UNBUNDLING EXISTING OFFERINGS.

 External Idea Sources
SEEKING INSIGHTS FROM SUPPLIERS AND DISTRIBUTORS

LEARNING FROM COMPETITORS

LEARNING FROM INNOVATION LEADERS OUTSIDE THE INDUSTRY

LEARNING FROM CUSTOMERS

REPURPOSING EXISTING PRODUCTS

UNBUNDLING EXISTING OFFERINGS.

 Idea Screening

SCREENING NEW PRODUCT IDEAS TO SPOT

GOOD ONES AND DROP POOR ONES.
 Concept Development and Testing
A DETAILED VERSION OF THE NEW PRODUCT IDEA STATED IN TERMS THAT ARE MEANINGFUL TO THE
CONSUMER.

CONCEPT DEVELOPMENT

CONCEPT TESTING

TESTING NEW PRODUCT CONCEPTS WITH A GROUP OF

TARGET CONSUMERS TO FIND OUT IF THE CONCEPTS
HAVE STRONG CONSUMER APPEAL.
 Marketing Strategy Development
MARKETING STRATEGY DEVELOPMENT
DESIGNING AN INITIAL MARKETING STRATEGY FOR A NEW PRODUCT BASED ON THE PRODUCT CONCEPT.
 Business Analysis
BUSINESS ANALYSIS
A REVIEW OF THE SALES, COSTS, AND PROFIT PROJECTIONS FOR A NEW PRODUCT TO FIND OUT
WHETHER THESE FACTORS SATISFY THE COMPANY’S OBJECTIVES.

Product Development
PRODUCT DEVELOPMENT
DEVELOPING THE PRODUCT CONCEPT INTO A PHYSICAL PRODUCT OR A DETAILED SERVICE BLUEPRINT
TO ENSURE THAT THE PRODUCT IDEA CAN BE TURNED INTO A WORKABLE MARKET OFFERING.
 Testing Marketing

TEST MARKETING
THE STAGE OF NEW PRODUCT DEVELOPMENT IN WHICH THE PRODUCT AND ITS
PROPOSED MARKETING PROGRAM ARE TESTED IN REALISTIC MARKET SETTINGS.

Commercialization

COMMERCIALIZATION
INTRODUCING A NEW PRODUCT INTO THE MARKET.
 MANAGING NEW PRODUCT DEVELOPMENT

Customer-Centered New Product Development

CUSTOMER-CENTERED NEW PRODUCT DEVELOPMENT

NEW PRODUCT DEVELOPMENT THAT FOCUSES ON FINDING NEW WAYS TO SOLVE CUSTOMER PROBLEMS
AND CREATE MORE CUSTOMER- SATISFYING EXPERIENCES.

Team-Based New Product Development

TEAM-BASED NEW PRODUCT DEVELOPMENT

NEW PRODUCT DEVELOPMENT IN WHICH VARIOUS COMPANY DEPARTMENTS WORK CLOSELY TOGETHER,
OVERLAPPING THE STEPS IN THE PRODUCT DEVELOPMENT PROCESS TO SAVE TIME AND INCREASE
EFFECTIVENESS.
 MANAGING NEW PRODUCT DEVELOPMENT

Customer-Centered New Product Development

CUSTOMER-CENTERED NEW PRODUCT DEVELOPMENT

NEW PRODUCT DEVELOPMENT THAT FOCUSES ON FINDING NEW WAYS TO SOLVE CUSTOMER PROBLEMS
AND CREATE MORE CUSTOMER- SATISFYING EXPERIENCES.

Team-Based New Product Development

TEAM-BASED NEW PRODUCT DEVELOPMENT

NEW PRODUCT DEVELOPMENT IN WHICH VARIOUS COMPANY DEPARTMENTS WORK CLOSELY TOGETHER,
OVERLAPPING THE STEPS IN THE PRODUCT DEVELOPMENT PROCESS TO SAVE TIME AND INCREASE
EFFECTIVENESS.
PRODUCT LIFE-CYCLE STRATEGIES
PRODUCT LIFE-CYCLE STRATEGIES
Paper Discussion
THANK YOU!
End of presentation.
Dr. Andri Dayarana K. Silalahi, Ph.D.