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Product planning

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Kavin P
Kavin P

The document discusses product planning and development processes. It defines product planning and describes four types of product development projects. It then outlines the key steps in a typical product development process: identifying opportunities, evaluating and prioritizing projects, allocating resources and planning timing, completing pre-project planning, and reflecting on results. Key aspects of evaluating projects, different product types, and pre-project planning are also summarized.

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Product planning
General objective • will be able to understand the Product Planning
TOPICS INTRODUCTION (SPECIFIC OBJECTIVE) • Define Product planning • Types Of Product development project I. New product platforms II. Derivatives of existing product platforms III. Incremental improvement of existing product IV. Fundamentally new product • Product development process • Product development process are I. Identified opportunities II. Evaluate and prioritize projects III. Allocate resources and plan timing IV. Complete per-project planning V. Reflect on the results and the process • Evaluate and prioritize projects I. Competitive strategies II. Technology leader ship III. Cost leader ship IV. Costumer focus V. imitative
PRODUCT PLANING PROCESS Product plan identified the portfolio of the product developed by the organization and the timing of their introduction of market. The planning process considers product development opportunities identified may be sources including suggestions for marketing ,research, customers current product development teams, and benchmarking of competitors
FOUR TYPES OF PRODUCT DEVELOPMENTS • New product platforms • Derivatives of existing product platforms • Incremental improvement of existing product • Fundamentally new product
NEW PRODUCT PLATFORM • This types of project involves a major development effort to create a new family of products on new common platform
Derivatives of existing product platforms • This project extended an existing new product platform to better address familiar markets with one or more product.
Incremental improvement of existing product • This project may only involve adding and modifying some feature of existing product .
Fundamentally new product • The project involves radically different project or production technologies and may help to address new and unfamiliar market
Product development process are Portfolio of projects Product plan Mission statements
Identify Opportunities Ideas for new products or feature of product may com from several sources including (among other) 1. Marketing and sales personnel 2. Research and technology development organization 3. Current product development teams 4. Manufacturing and operation organizations 5. Current or potential customers 6. Third product such as supplies,investers,and business partners
Evaluate and Prioritize Projects • If managed actively, the opportunity funnel can collect hundreds or even thousands of opportunities during a year. Some of these opportunities do not make sense in the context of the firm’s other activities, and in most cases, there are simply too many opportunities for the firm to pursue at once. • Competitive Strategy 1. Technology leadership 2. Cost leadership 3. Customer focus 4. Imitative
Technology leadership • firm places great emphasis on basic research and development of new technologies
Cost leadership • through economies of scale, use of superior manufacturing methods, low-cost labor, or better management of the production system
Customer focus • firm works closely with new and existing customers to assess their changing needs and preferences.
Imitative • This strategy involves closely following trends in the market, allowing competitors to explore which new products are successful for each segment. When viable opportunities have been identified, the firm quickly launches new products to imitate the successful competitors.
Market Segmentation
Technological Trajectories
Product Platform Planning • The product platform is the set of assets shared across a set of products. Components and subassemblies are often the most important of these assets.
Balancing the Portfolio • There are many methods to help managers manage an organization’s portfolio of that managers may consider the strategic implications of development projects. Several of these methods involve mapping the portfolio along useful dimensions so their planning decisions
Allocate Resources and Plan Timing • Project Timing • Timing of product introductions • Technology readiness • Market readiness • Competition
Timing of product introductions • Generally the sooner a product is brought to market the better. However, launching a product before it is of adequate quality can damage the reputation of the firm.
Timing of product introductions • The robustness of the underlying technologies plays a critical role in the planning process. A proven, robust technology can be integrated into products much more quickly and reliably.
Market readiness • The sequence of product introductions determines whether early adopters buy the low-end product and may trade up or whether they buy the high-end product offered at a high initial price. Releasing improvements too quickly can frustrate customers who want to keep up; on the other hand, releasing new products too slowly risks lagging behind competitors.
Competition • The anticipated release of competing products may accelerate the timing of development projects
Complete Pre-Project Planning • Target market(s) for the product: There may be several target markets for the product. This part of the mission statement identifies the primary market as well as any secondary markets that should be considered in the development effort. • Assumptions and constraints that guide the development effort: Assumptions must be made carefully; although they restrict the range of possible product concepts, they help to maintain a manageable project scope. Information may be attached to the mission statement to document decisions about assumptions and constraints. • Stakeholders: One way to ensure that many of the subtle development issues are addressed is to explicitly list all of the product’s stakeholders, that is, all of the groups of people who are affected by the product’s success or failure.
• Manufacturing: Even at this very preliminary stage, it is important to consider the capabilities, capacities, and constraints of the manufacturing operations. • Service: In a business where customer service and service revenue are critical to the success of the firm, it is necessary to also state strategic goals for levels of service quality. Efforts to improve service include a strategic commitment to designing products that contain few parts, which can be serviced quickly. • Environment: Many corporations today are developing new products with environmental sustainability in mind • Manufacturing: Even at this very preliminary stage, it is important to consider the capabilities, capacities, and constraints of the manufacturing operations. • Service: In a business where customer service and service revenue are critical to the success of the firm, it is necessary to also state strategic goals for levels of service quality. Efforts to improve service include a strategic commitment to designing products that contain few parts, which can be serviced quickly. • Environment: Many corporations today are developing new products with environmental sustainability in mind
Reflect on the Results and the Process • In this final step of the planning and strategy process, the team should ask several questions to assess the quality of both the process and the results. Some suggested questions are: • Is the opportunity funnel collecting an exciting and diverse set of product opportunities? • Does the product plan support the competitive strategy of the firm? • Does the product plan address the most important current opportunities facing the firm? • Are the total resources allocated to product development sufficient to pursue the firm’s competitive strategy? • Have creative ways of leveraging finite resources been considered, such as the use of product platforms, joint ventures, and partnerships with suppliers? • Does the core team accept the challenges of the resulting mission statement? • Are the elements of the mission statement consistent?
Product planning

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Product planning

  • 2. General objective • will be able to understand the Product Planning
  • 3. TOPICS INTRODUCTION (SPECIFIC OBJECTIVE) • Define Product planning • Types Of Product development project I. New product platforms II. Derivatives of existing product platforms III. Incremental improvement of existing product IV. Fundamentally new product • Product development process • Product development process are I. Identified opportunities II. Evaluate and prioritize projects III. Allocate resources and plan timing IV. Complete per-project planning V. Reflect on the results and the process • Evaluate and prioritize projects I. Competitive strategies II. Technology leader ship III. Cost leader ship IV. Costumer focus V. imitative
  • 4. PRODUCT PLANING PROCESS Product plan identified the portfolio of the product developed by the organization and the timing of their introduction of market. The planning process considers product development opportunities identified may be sources including suggestions for marketing ,research, customers current product development teams, and benchmarking of competitors
  • 5. FOUR TYPES OF PRODUCT DEVELOPMENTS • New product platforms • Derivatives of existing product platforms • Incremental improvement of existing product • Fundamentally new product
  • 6. NEW PRODUCT PLATFORM • This types of project involves a major development effort to create a new family of products on new common platform
  • 7. Derivatives of existing product platforms • This project extended an existing new product platform to better address familiar markets with one or more product.
  • 8. Incremental improvement of existing product • This project may only involve adding and modifying some feature of existing product .
  • 9. Fundamentally new product • The project involves radically different project or production technologies and may help to address new and unfamiliar market
  • 10. Product development process are Portfolio of projects Product plan Mission statements
  • 11. Identify Opportunities Ideas for new products or feature of product may com from several sources including (among other) 1. Marketing and sales personnel 2. Research and technology development organization 3. Current product development teams 4. Manufacturing and operation organizations 5. Current or potential customers 6. Third product such as supplies,investers,and business partners
  • 12. Evaluate and Prioritize Projects • If managed actively, the opportunity funnel can collect hundreds or even thousands of opportunities during a year. Some of these opportunities do not make sense in the context of the firm’s other activities, and in most cases, there are simply too many opportunities for the firm to pursue at once. • Competitive Strategy 1. Technology leadership 2. Cost leadership 3. Customer focus 4. Imitative
  • 13. Technology leadership • firm places great emphasis on basic research and development of new technologies
  • 14. Cost leadership • through economies of scale, use of superior manufacturing methods, low-cost labor, or better management of the production system
  • 15. Customer focus • firm works closely with new and existing customers to assess their changing needs and preferences.
  • 16. Imitative • This strategy involves closely following trends in the market, allowing competitors to explore which new products are successful for each segment. When viable opportunities have been identified, the firm quickly launches new products to imitate the successful competitors.
  • 19. Product Platform Planning • The product platform is the set of assets shared across a set of products. Components and subassemblies are often the most important of these assets.
  • 20. Balancing the Portfolio • There are many methods to help managers manage an organization’s portfolio of that managers may consider the strategic implications of development projects. Several of these methods involve mapping the portfolio along useful dimensions so their planning decisions
  • 21. Allocate Resources and Plan Timing • Project Timing • Timing of product introductions • Technology readiness • Market readiness • Competition
  • 22. Timing of product introductions • Generally the sooner a product is brought to market the better. However, launching a product before it is of adequate quality can damage the reputation of the firm.
  • 23. Timing of product introductions • The robustness of the underlying technologies plays a critical role in the planning process. A proven, robust technology can be integrated into products much more quickly and reliably.
  • 24. Market readiness • The sequence of product introductions determines whether early adopters buy the low-end product and may trade up or whether they buy the high-end product offered at a high initial price. Releasing improvements too quickly can frustrate customers who want to keep up; on the other hand, releasing new products too slowly risks lagging behind competitors.
  • 25. Competition • The anticipated release of competing products may accelerate the timing of development projects
  • 26. Complete Pre-Project Planning • Target market(s) for the product: There may be several target markets for the product. This part of the mission statement identifies the primary market as well as any secondary markets that should be considered in the development effort. • Assumptions and constraints that guide the development effort: Assumptions must be made carefully; although they restrict the range of possible product concepts, they help to maintain a manageable project scope. Information may be attached to the mission statement to document decisions about assumptions and constraints. • Stakeholders: One way to ensure that many of the subtle development issues are addressed is to explicitly list all of the product’s stakeholders, that is, all of the groups of people who are affected by the product’s success or failure.
  • 27. • Manufacturing: Even at this very preliminary stage, it is important to consider the capabilities, capacities, and constraints of the manufacturing operations. • Service: In a business where customer service and service revenue are critical to the success of the firm, it is necessary to also state strategic goals for levels of service quality. Efforts to improve service include a strategic commitment to designing products that contain few parts, which can be serviced quickly. • Environment: Many corporations today are developing new products with environmental sustainability in mind • Manufacturing: Even at this very preliminary stage, it is important to consider the capabilities, capacities, and constraints of the manufacturing operations. • Service: In a business where customer service and service revenue are critical to the success of the firm, it is necessary to also state strategic goals for levels of service quality. Efforts to improve service include a strategic commitment to designing products that contain few parts, which can be serviced quickly. • Environment: Many corporations today are developing new products with environmental sustainability in mind
  • 28. Reflect on the Results and the Process • In this final step of the planning and strategy process, the team should ask several questions to assess the quality of both the process and the results. Some suggested questions are: • Is the opportunity funnel collecting an exciting and diverse set of product opportunities? • Does the product plan support the competitive strategy of the firm? • Does the product plan address the most important current opportunities facing the firm? • Are the total resources allocated to product development sufficient to pursue the firm’s competitive strategy? • Have creative ways of leveraging finite resources been considered, such as the use of product platforms, joint ventures, and partnerships with suppliers? • Does the core team accept the challenges of the resulting mission statement? • Are the elements of the mission statement consistent?