NEW PRODUCTS AND WHY THEY SUCCEED OR FAIL Slide Why Products Succeed or Fail  Marketing Reasons for New-Product Failures Marketing Reasons for New-Product Failures Incomplete Market and Product Definition Before Product Development StartsIncomplete Market and Product Definition Before Product Development Starts Insignificant Point of Difference

NEW PRODUCTS AND WHY THEY SUCCEED OR FAIL Slide Why Products Succeed or Fail  Marketing Reasons for New-Product Failures Marketing Reasons for New-Product Failures Too Little Market Attractiveness Poor Execution of the Marketing Mix Poor Product Quality or Insensitivity to Customer Needs on Critical FactorsPoor Product Quality or Insensitivity to Customer Needs on Critical Factors

NEW PRODUCTS AND WHY THEY SUCCEED OR FAIL Slide Why Products Succeed or Fail  Marketing Reasons for New-Product Failures Marketing Reasons for New-Product Failures Bad Timing No Economic Access to Buyers  A Look at Some Failures A Look at Some Failures

THE NEW-PRODUCT PROCESS Slide New-Product Process  Identifying Markets and Strategic Roles Identifying Markets and Strategic Roles Cross-Functional Teams New-Product Strategy Development  Cross-Functional Teams and New-Product Development Cross-Functional Teams and New-Product Development

THE NEW-PRODUCT PROCESS Slide  Customer and Supplier Suggestions Customer and Supplier Suggestions Idea Generation  Employee Suggestions Employee Suggestions  Research and Development Breakthroughs Research and Development Breakthroughs  Competitive Products Competitive Products

THE NEW-PRODUCT PROCESS Slide  Internal Approach Internal Approach Screening and Evaluation  External Approach External Approach Concept Tests

THE NEW-PRODUCT PROCESS Slide  Prototype Prototype Business Analysis  Assessing the “Business Fit” of the New Product Assessing the “Business Fit” of the New Product  Big G Plus Pillsbury: Increasing Emphasis on Synergies and Segments Big G Plus Pillsbury: Increasing Emphasis on Synergies and Segments

THE NEW-PRODUCT PROCESS Slide  Test Marketing Test Marketing Development Market Testing  When Test Markets Don’t Work When Test Markets Don’t Work

THE NEW-PRODUCT PROCESS Slide Commercialization  Speed as a Factor in New-Product Success Speed as a Factor in New-Product Success  The Risks and Uncertainties of the Commercialization Stage The Risks and Uncertainties of the Commercialization Stage Time to Market (TtM) Parallel Development