MKTG 240 Lecture Notes - Lecture 11: Industrial Design, Customer Experience, Capacity Management
Document Summary
What it takes to launch one commercially successful new product. If you come out with a new product your competitors are going to react. How it fits in with the rest of your products. Incomplete market and product protocol before product development starts. Not satisfying customer needs on critical factors--people won"t buy it. Bad timing--competitor may come out with same product before your launch. Not listening to the voice of the customers. Samsung note 7 not thoroughly examined so they now explode. Encountering groupthink in meetings--people settling on ideas because they don"t want to embarrass them even though it probably not the best one. Avoiding the nih problem- not invented here; companies do not make their products. Use marketing dashboards to see how the product is performing but only used after launch. Idea generation: employee and coworker suggestions, customer and supplier suggestions, crowdsourcing-go out to the whole marketplace and ask them their opinions, research and development labs.
