jkfi december 21 product development erik meijer

8/3/2019 JKFI December 21 Product Development Erik Meijer

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Product Development

a challenge in a dynamic world

December 2011

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How tocreate aunique,

attractiveand

distinguished product ?

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Idea

Generation

Prioritization

MarketingStrategy

Implementation

Improvement

1 2

Evaluation

3

45

6

Product Development workflow

• Internal• External

• Market Demand• Revenue

generator• Massive

CompanyValuation

• Go to marketstrategy

• Competitor

• End to endimplementation

• Customer experience

• Post lunched review• Impact &

recommendation

• Stimulation• Enhancement

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Product Development start withIDEA GENERATION

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Idea Generation

-

Research- Competition- Market condition- Customer feedback-

Complaints- Dream

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Possible Objectives to identify inIdea Generation

- Cash Generator

- Functional product- Image building- Experiential product- Fighting product

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But too many Ideas will lead toConfusion and Lack of Focus

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So, we have to Prioritize the ideas

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  Market Demand, ..Learn about demand to help idea

priority.Is there really a market for our idea ?

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Revenue , ..If possible prioritize ideas which gives

impactful revenue

(or massive company

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  Time to Market, ..

Faster time to market, faster returnon investment

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 Thrilling part;Marketing Strategy

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PRODUCT STRATEGIES, how will youdesign, package and add value to the product.

PRICE STRATEGIES, what pricing is

appropriate to use

PLACE STRATEGIES, Right place at theright time

PROMOTION STRATEGIES,communicated clearly to the market

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Launching

Do you have experience in product launch ?

What is the key attraction on your market ?

How do you know your competitor ? What do your competitorsknow about you ?

How is the alignment and engagement between you and yourpartners ?

How detailed is your marketing plan and forecast of your sales ?

Do you have a back-up plan? (multiple scenarios)

Have you arranged for all necessary resources?

Etc…

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EvaluationRe-

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I m p r o v e m e n tSimple communication, Easy to

understand, Unique and easy,Original, Relevant to the market,

Pricing

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Thank you