New product development in today’s scholarly publishing environment Society for Scholarly Publishing | 28 May 2015
Welcome and introductions Managing Partner Kaufman Wills Fusting Cara Kaufman Director of Product Development, AAAS Will Schweitzer Senior Publisher OSA Kelly Cohen Publishing Director BMJ Peter Ashman Publisher SIAM David Marshall Principal Doody Enterprises Rich Lampert 28 May 2015
Business school in 60 seconds 28 May 2015
Product life cycle Embracing the product life cycle where you realize that you need to have new products to replace old (or certainly need to reinvigorate old to make them new) is a basic tenet learned in business school. Product Extension Sales Embracing the product life cycle where you realize that you need to have new products to replace old (or certainly need to reinvigorate old to make them new) is a basic tenet learned in business school. Introduction Growth Maturity Decline Time
Growth matrix Also from my business school days, it is worth keeping the growth matrix in mind as a way to categorize the ways in which products can be enhanced or created. Also from my business school days, it is worth keeping the growth matrix to help generate the ways in which new products can be created. 28 May 2015
BCG portfolio growth-share matrix 28 May 2015
McKinsey product portfolio analysis matrix 28 May 2015
Tools we use Trend number 10: Product development 28 May 2015
Strategy sessions Workflow observation In-depth interviews Idea generation Strategy sessions Workflow observation In-depth interviews Competitive profiles Gap analysis 28 May 2015
Subspecialty journals Microsites | virtual journals New products du jour Open access journals Educational products Subspecialty journals Microsites | virtual journals 28 May 2015
New product development cycle Idea generation Screening the idea Concept development End user research Product specifications Financial projections Board approval Product roll out Success metrics The biggest mistake made in new product development is by jumping to product development before knowing what your audience wants. Expert AND end user research are critical. And NO BUSINESS MODEL 28 May 2015
At Apple, we come at everything asking, “How easy is this going to be for the user? How great is it going to be for the user?” Steve Jobs Fortune Magazine 21 Feb 2005 Trend number 10: Product development 28 May 2015
New journal development questionnaire (sampling) Specifications Formats/platforms Production Market position SEO/usage Calls for paper Marketing Business model Overheads Financial Title Mission Scope Content types Size Editorial structure Peer review Licensing Copyediting Editorial 28 May 2015
Thank you Cara Kaufman | Managing Partner | Kaufman Wills Fusting | cara.kaufman@kwfco.com cara.kaufman@kwfco.com I look forward to entertaining your questions at the close of our session. 28 May 2015