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New productsgpii

Monique Squalls
Monique Squalls

This document discusses introducing new products to the market. It covers various topics related to developing new products including market research, forecasting costs and profits, understanding a product's life cycle, developing brands and marketing strategies. The marketing team will introduce a new product and seek customer feedback to help guide decisions around timing and branding to maximize profits over the product's life cycle. Questions from attendees will conclude the presentation.

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New Products Monique Squalls Marketing President, Cheryl Brown Senior, Vice President Marketing Chereleene Patterson, Manufacturing Director Alma Key, Brand and Sales Specialist 6/3/2013, 1
What Well Cover Today Introduction New product Costs on return and investment projections Product Life Cycle Brands Sales and marketing (WOM) Wrap Up Questions and answers
Introduction Whats Hot ? New Products are introduced into the market all the time For Men its cars and electronics For Moms it may be toys or cookie items For the Diva it may be Health and Beauty items Whatever youre a consumer of?
Where Do New Ideas Come From? 1. Internal Management, In House Experts, Employees 2. External Customers Lead Customers Marketing Research 3. Business Partners Requirements to increase quality 4. Competition
New Product Development
Market Research and Survey
Test Marketing/Timing Test Marketing Is an experiment conducted in a field laboratory Timing A product launch is often a make- or-break moment for a small company
Forecasting <1years> <2years> <3year> Revenue 10.1 27.7 50.0 Cost of Goods 1.8 3.1 4.6 Gross Profit 8.3 24.6 45.4 Total Expenses 3.03 8.1 15.3 Pre-Tax Profit 5.27 16.5 30.1 Pre-Tax Profit as Percent of Revenues 64.6% 59.6% 60.2%
What is Product Life Cycle ?
PRODUCT LIFE CYCLE STAGES INTRODUCTION/DEVELOPMENT GROWTH MATURITY DECLINE
EXAMPLES OF PRODUCT LIFE CYCLE LONG TERM (ITEMS) REFRIGERATOR CAR STOVE Office Building SHORT TERM (ITEMS) TYPEWRITER DVD MOVIES
SWOT Strength Just-in-time retail inventory Weakness Reduced overhead costs Increased customer satisfaction The Opportunity Reduced overhead costs Increased customer satisfaction Threats
Brands and Trends http://www.youtube.com/watch?v=CpWlS4OVD3M Fad TrendMegatrend
Marketing Strategy Strategy Customer Feedback via Surveys, Websites and Direct Marketing Free Samples Availability at Flea Markets Offer a Healthy Cookie
Its All About The Buzz !
Sources Cooper, Robert Winning At New Products Creating Value through Innovation Persuade Books Groups Cooper, Robert Winning At New Products. Creating Value through Innovation/Edition 4 City Name: Basic Books, 2011 Forecasting Methods. (n.d.). Retrieved from http://www.123helpme.com/forecasting- methods- view.asp?id=165096 Mintzer, R. (n.d.). Tips for preparing to sell new products. Retrieved from http://www.allbusiness.com/company-activities-management/sales selling- sales/12327856-1.html
Product Summary Idea ? Customer Feedback Timing/Forecast Product Life Cycle Brand
Question and Answers Thank You! Please like us on Facebook and you will get a free smoothie @ our store.

More Related Content

New productsgpii

  • 1. New Products Monique Squalls Marketing President, Cheryl Brown Senior, Vice President Marketing Chereleene Patterson, Manufacturing Director Alma Key, Brand and Sales Specialist 6/3/2013, 1
  • 2. What Well Cover Today Introduction New product Costs on return and investment projections Product Life Cycle Brands Sales and marketing (WOM) Wrap Up Questions and answers
  • 3. Introduction Whats Hot ? New Products are introduced into the market all the time For Men its cars and electronics For Moms it may be toys or cookie items For the Diva it may be Health and Beauty items Whatever youre a consumer of?
  • 4. Where Do New Ideas Come From? 1. Internal Management, In House Experts, Employees 2. External Customers Lead Customers Marketing Research 3. Business Partners Requirements to increase quality 4. Competition
  • 7. Test Marketing/Timing Test Marketing Is an experiment conducted in a field laboratory Timing A product launch is often a make- or-break moment for a small company
  • 8. Forecasting <1years> <2years> <3year> Revenue 10.1 27.7 50.0 Cost of Goods 1.8 3.1 4.6 Gross Profit 8.3 24.6 45.4 Total Expenses 3.03 8.1 15.3 Pre-Tax Profit 5.27 16.5 30.1 Pre-Tax Profit as Percent of Revenues 64.6% 59.6% 60.2%
  • 9. What is Product Life Cycle ?
  • 10. PRODUCT LIFE CYCLE STAGES INTRODUCTION/DEVELOPMENT GROWTH MATURITY DECLINE
  • 11. EXAMPLES OF PRODUCT LIFE CYCLE LONG TERM (ITEMS) REFRIGERATOR CAR STOVE Office Building SHORT TERM (ITEMS) TYPEWRITER DVD MOVIES
  • 12. SWOT Strength Just-in-time retail inventory Weakness Reduced overhead costs Increased customer satisfaction The Opportunity Reduced overhead costs Increased customer satisfaction Threats
  • 13. Brands and Trends http://www.youtube.com/watch?v=CpWlS4OVD3M Fad TrendMegatrend
  • 14. Marketing Strategy Strategy Customer Feedback via Surveys, Websites and Direct Marketing Free Samples Availability at Flea Markets Offer a Healthy Cookie
  • 15. Its All About The Buzz !
  • 16. Sources Cooper, Robert Winning At New Products Creating Value through Innovation Persuade Books Groups Cooper, Robert Winning At New Products. Creating Value through Innovation/Edition 4 City Name: Basic Books, 2011 Forecasting Methods. (n.d.). Retrieved from http://www.123helpme.com/forecasting- methods- view.asp?id=165096 Mintzer, R. (n.d.). Tips for preparing to sell new products. Retrieved from http://www.allbusiness.com/company-activities-management/sales selling- sales/12327856-1.html
  • 18. Question and Answers Thank You! Please like us on Facebook and you will get a free smoothie @ our store.