OPPORTUNITY

IDENTIFICATION
PDD
 An Idea for a
new Product
WHAT IS AN OPPORTUNITY?
A product description in
embryonic form

A newly sensed
need

E newly discovered
technology

A rough match between a need and

Its articulated with less than one page of information, a possible solution
including: a descriptive title, a narrative explaining idea,
can be including sketch of a possible product concept
 TYPES OF OPPORTUNITY
Technology,
method, process

Customers need
The extent to which the team is familiar based on existing
with the solution likely to be employed market

The extent to which the team is familiar with the

need that the solution addresses
 EFFECTIVE OPPORTUNITY
TOURNAMENTS

Generate a large
number of
opportunity

Seek high quality the

opportunities
generated
Create high variances
in the quality of
opportunity
 ESTABLISH A CHARTER
OR A MISSION STATEMENT
The content:

Brief Time of
description of introducing the
the product product to
market
Primary and
secondary
customer of the
product
Follow a personal
passion
GENERATE AND SENSE MANY
OPPORTUNITIES
Compile bug lists

Pull opportunity
from Capabilities
Based on the
internal
resources Study Customer

• Valuable
• Rare Consider implication
• Inimitable of trends
• Nonsubstituble

Imitate, but better

 Source of opportunities
Pull opportunities from capabilities

Exploiting unique resources

1. Internally generated (46%)
2. Customer (23%)
3. Competitive product (11%)
4. Sales Force (8%)
5. University (4%)
6. Independent inventor (4%)
7. Distribution partner (3%)
Non-
8. Other partner company (2%) Valuable Rare inimitable subtituble
9. Supplier (2%)
 SCREEN OPPORTUNITIES
to eliminate opportunities that are highly unlikely

to focus attention on the opportunities worthy of further investigation

Methods of screening Web based Google form

survey
Holistics
judgement by a
group of
individual Multivoting Workshop
 DEVELOP PROMISING OPPORTUNITIES
To resolve the greatest
uncertainty surrounding
each one at the lowest cost
in time and money

List the the major uncertainties regarding the

success of each opportunity

List the tasks to overcome the uncertainties and

approximate cost of each task
 SELECT EXCEPTIONAL OPPORTUNITIES
To pick the exceptional few
opportunities that warrant
a significant investment in
product development
Is the
opportunity
worth it
financially?

Can you win

with this
opportunity?
Is the
opportunity
real?
RWW Framework
RWW Framework
 REFLECT ON THE RESULT
Some questions to consider in reflecting on the opportunity identification
results and process are:

How many of the

opportunities identified Are the resulting
came from internal Those are the questions
opportunities exciting
sources versus external to the team?
sources

Were our filtering

Did we consider dozens criteria biased, or
or hundreds of largely based on the
opportunities? best possible estimates
of eventual product
success?
Was the innovation
charter too narrowly
focused?
PRODUCT PLANNING
Andira Taslim 2019
 THE PRODUCT PLANNING PROCESS
The product plan identifies the portfolio of products to be The product is regularly updated to reflect changes in the
developed by the organization and the timing of their competitive environment, changes in technology, and
introduction to the market information on the success of existing products.

Portfolio of Products
Organizations that do not carefully plan the portfolio are often
New platform plagued with inefficiencies such as:

Derivatives • Inadequate coverage of target markets with competitive products.

• Poor timing of market introductions of products.
• Mismatches between aggregate development capacity and the number of
Improvements
projects pursued.
• Poor distribution of resources, with some projects overstaffed and others
Fundamentally New understaffed
• Initiation and subsequent cancelletion of ill-conceived projects.
• Frequent changes in the direction of projects
 FOUR TYPES OF
PRODUCT
DEVELOPMENT PROJECT
New product
platforms

Derivatives of
existing product
platform

Incremental
improvements to
existing products

Fundamentally
new products

1 2
Evaluate and Prioritize Allocate Resoources and
Identify Opportunities
Projects
Competitive Strategy
Market Segmentation
Technological Trajectories
Product platform planning
Evaluating Fundamentally New
Product Opportunities
Balancing the Portfolio
THE PROCESS
3
Plan Timing
Resources Allocation
Skilled engineers, budget, etc
Project Timing
Timing of product introductions
Technology readiness
Market readiness
competition
The Product Plan
 4 5
THE PROCESS
Complete Pre-Project Reflect on the Result and
Planning Process
Mission Statements

The tem should ask several question s to assess the quality of both process and
Assumptions and constraints the result
Manufacturing • Is the opportunity funnel collecting in exiting and diverse set of product opportunities?
Service • Does the product plan support the competitive strategy of the firms?
Environment
• Does the product plan addressed the most important current opportunities facing the
firm?
Staffing and other Pre-Project • Are the total resources allocated to product development sufficient to pursue the firm’s
competitive strategy
Planning Activities
• etc
Example: Mission Statement of PD