Mar-3023 Lecture Notes - Lecture 10: Jet Ski, Ink Cartridge, Lcd Television
Day 10: Developing New Products
New Product Development
⚫ Goals for the day:
• Discuss new products
• New Products from the Firm’s Perspective
o NPD Process
• New Products from the Customer’s Perspective
o The Adoption Process
o New Product Adopter Types
New Products
New products are coming out all the time. They’re aimed at certain individuals and market.
➢ Terrafugia – flying car. Trying to make them cheap enough that most people can afford them.
The wings fold up and you can drive on the road. Functionality out of two products we already
know
➢ ATV / jetski, wheels fold in and it turns into a jetski
➢ Big wave surfboard with a motor on it so that you can drive out to the wave
➢ Watercar – roads and water Panther, actually works really well
➢ Squba – higher end, unique, not terrible useful
o Dualfuncitonality and whimsical
➢ Thin Mint Crunch – co-branded with girl scouts
➢ Aimed at 3rd world countries – washer without water, uses beads that absorb dirt etc. works
really well apparently. For countries without access to running water
➢ iCycles – bicycle from apple, iSight – autofocus, face recognition, bluetooth glasses, iRosol –
perfect color spray paint with ink cartridge
➢ Ski goggles that tell you how fast you’re going, has music, GPS, Camera, video recorder, etc
➢ Phone charger that only uses kinetic energy. You carry it and walk around during the day.
The Next Generation
There are companies doing unique things with ordinary materials.
➢ Glass – Corning – photovoltaic glass bedspread, lcd television glass, etc.
This topic hinges on the topic where marketing meets engineering
New Product Development
See how new products emerged at Bell labs
See how Wendy’s Does it
• Columbus is a test market because the demographic profile of Columbus represents the
demographic profile of the U.S.
o Students, international, diverse
o A lot of companies have headquarters in Columbus.
New Products
• 80% of new products fail
• Products should connect brands
o Colgate is not connected to food.
o Maxwell House created milk carton of already brewed coffee.
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
Goals for the day: discuss new products, new products from the firm"s perspective, npd process, new products from the customer"s perspective, the adoption process, new product adopter types. Atv / jetski, wheels fold in and it turns into a jetski. The wings fold up and you can drive on the road. Functionality out of two products we already know. New products are coming out all the time. Trying to make them cheap enough that most people can afford them. Big wave surfboard with a motor on it so that you can (cid:498)drive(cid:499) out to the wave. Watercar roads and water panther, actually works really well. Squba higher end, unique, not terrible useful. Thin mint crunch co-branded with girl scouts. Aimed at 3rd world countries washer without water, uses beads that absorb dirt etc. works. Icycles bicycle from apple, isight autofocus, face recognition, bluetooth glasses, irosol .
