Marketing Management J. Paul Peter • James H. Donnelly, Jr. 6th Edition Marketing Management Knowledge and Skills

New Product Planning and Development Chapter 7 New Product Planning and Development

Growth Vector Components Products Markets Present New Present Market penetration Product development New Market development Diversification Irwin/McGraw-Hill Copyright © 2001 by The McGraw-Hill Companies, Inc. All rights reserved. Figure 7-1

The New Product Development Process Idea generation Idea screening Project planning Product development Test marketing Commercialization Irwin/McGraw-Hill Copyright © 2001 by The McGraw-Hill Companies, Inc. All rights reserved. Figure 7-2

The New Product Team Core Members Leader New products Manager Support Members Support members In and out, as needed Scores of functions: legal,sales,accounting PR,HRM,advertising, customer service inside/ outside the firm All stakeholders Liaison, not on team Reached via network Leader New products Manager Full-time Experienced Facilitator Core Members R & D Manufacturing Design Market research Finance Marketing Core members May be full-time Key function Permanent Fuse into a group SOURCE: C. Merle Crawford, New Products Management, 5th ed. (Burr Ridge, IL:Irwin, 1995), p. 31.