jerryking + products   7

From healthy fries to segways: Why most products fail - The Globe and Mail
SUSAN KRASHINSKY - MARKETING REPORTER
The Globe and Mail
Published Thursday, Sep. 18 2014,

The vast majority of new product launches end up failing.

In fact, 72 per cent of new products are failures, according to a global study released by Bonn, Germany-based marketing consultancy Simon-Kucher & Partners. The firm surveyed 1,615 managers in 40 countries. It found that most newly launched products fail to meet their profit targets “because companies neglect or ignore essential pricing and marketing activities in their new product development processes.”.... set aside a budget for research to measure customer demand for the product, as well as what people are willing to pay for it......So many products are launched that haven’t established basic things, such as research into the need of the product, the efficacy of the product, testing the product with consumers,”

marketing a new product:

1. Is there a market for the product?
2. Can you own the name?
3. Do you have data that prove the idea has merit?
4. Do you have a credible, knowledgeable spokesperson who can talk about the product?
5. Have consumers or customers used the product and will they talk about their experience (hopefully positively)?
6. Have you had everyone you are talking to sign an NDA (non-disclosure agreement)?
7. Can you identify a third party who can corroborate that the world needs this product that will go on record?
8. How long will it take to manufacture the product and will you meet the deadline for the market (season, trade show, holiday)?
9. Do you have money to capitalize the manufacturing and launch of the product?
10. Do you have a business plan and a budget?
11. What is your day job and can you do both?
attrition_rates  stage-gate  failure  marketing  Susan_Krashinsky  new_products  product_development  products  product_launches  kill_rates 
september 2014 by jerryking
Competitive Analysis for Competitive Advantage
(Charles Waud & WaudWare)
Who are my relevant competitors?
What are the criteria to determine customer value creation?
What are the priorities for competition?
Compared to the leading competitors, how do we look on each criterion?
On which criteria are we better?
On which criteria are they better?
How can we better position ourselves on our "strong" criteria?
How can we improve the customer's perception of our "weak" criteria?
Where should we allocate resources?
Where will future changes come from in my competitor's strategies?
On what key customer "value criteria" will they change?
How can we anticipate these changes and "reposition" our strategy most effectively?
Ivey  frameworks  competitive_advantage  market_segmentation  Five_Forces_model  value_chains  competitive_strategy  strategy  products  product_strategy  competitive_intelligence  experiece_curves  cost_analysis  comparative_advantage  customer_segmentation 
december 2012 by jerryking
Tips for Reducing Product Proliferation - WSJ.com
AUGUST 23, 2010 | WSJ | By BARRY BERMAN. Do companies really need to sell so many varieties of similar goods? No.
products  product_portfolios  product_management 
august 2010 by jerryking
Manufacturers Branch Out Into Services - WSJ.com
JUNE 22, 2009 | Wall Street Journal | by STEPHEN W. BROWN,
ANDERS GUSTAFSSON And LARS WITELL. Companies in a range of fields are
branching out into services to stay competitive. The benefits: necessity
for differentiation, achieving a regular stream of income, a lower
requirement for fixed capital investment, the ability to leverage
existing products, brand image and customer base, opp. to build loyalty.
Selling services isn’t easy.
products  services  manufacturers  post-manufacturing  George_Anders 
june 2009 by jerryking

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