8 Step Process New Product Develpment

In: Business and Management

Submitted By bluehorizons
Words 983
Pages 4
8 Step Process - New Product Development

Posted on May 27, 2013 by Robert F Brands
8 Step Process Perfects New Product Development Every entrepreneur knows that productivity is one of the key ingredients for successful product development. One of the two key processes in Robert’s Rules of Innovation is the NEW PRODUCT DEVELOPMENT PROCESS. A formalized, NPD process – also referred to and best practice: the Stage Gate® Process – is a must, from simple to sophisticated.

The New Product Development process is often referred to as The Stage-Gate innovation process, developed by Dr. Robert G. Cooper as a result of comprehensive research on reasons why products succeed and why they fail.

When teams collaborate in developing new innovations, having the following eight ingredients mixed into your team’s new product developmental repertoire will ensure that it’s overall marketability will happen relatively quick, and accurately – making everyone productive across the board.

Step 1: Generating

Utilizing basic internal and external SWOT analyses, as well as current marketing trends, one can distance themselves from the competition by generating ideologies which take affordability, ROI, and widespread distribution costs into account.

Lean, mean and scalable are the key points to keep in mind. During the NPD process, keep the system nimble and use flexible discretion over which activities are executed. You may want to develop multiple versions of your road map scaled to suit different types and risk levels of projects.

Step 2: Screening The Idea

Wichita, possessing more aviation industry than most other states, is seeing many new innovations stop with Step 2 – screening. Do you go/no go? Set specific criteria for ideas that should be continued or dropped. Stick to the agreed upon criteria so poor projects can be sent back to the idea-hopper early on.…...

Similar Documents

Erm 7-Step Process

...ERM 7-Step Process ERM 7-Step Process According to Harb, Enterprise Risk Management is people, systems and processes working together across the organizations to systematically think about and manage a wide range of risks that could impede achieving organizational objectives/opportunities. In this paper we will discuss the potential tort risk that arose as a result of Non-Linear Pro leasing unsatisfactory equipment to Quick Takes, and how to effectively apply the 7-Step Enterprise Risk Management process in evaluating the violation that was imposed upon Quick Takes by Non-Linear Pro, when they failed to supply equipment that performed as advertised it to perform. In the Product Liability Video, Non-Linear Pro leased hardware to Quick Takes. The equipment was leased to Quick Takes with the understanding that it would speed up editing time. Quick Takes soon discovered that the equipment did not have enough memory to get the job done, which caused their competent editors to work tirelessly for two weeks with little results. From the video we gather that Non Linear Pro has committed several tort violations in the dealings with Quick Takes such as: 1. Misrepresenting the quality of the product. 2. Express Warranties – Non Linear Pro made the express warranty as to the way a product would perform, guaranteeing the product would in fact perform that way. 3. Breach of Contract – Product did not perform the way it is intended to. 4. Damages: Benefit of the Bargain-......

Words: 1439 - Pages: 6

8 Step of Selection Process

...Eight Step of Selection Process Step 1 Initial Screening Interview Involve two-step procedure: (1) screening inquiries and (2) screening interviews. Screening inquiries is applicants search through websites and newspapers to look for new jobs, and then note down their detail like contact number and email address. If they are interested to our company, they will send their resume over by email. Screening interviews is after Human Resource Management saw the resume of the applicants; they will phone up and ask for more relevant experience as submitted on the resume. Listen for their voice sound interested in this job position, as well as letting the applicants know what our company businesses are in to. Most important part is identifying with the applicants their salary expectation and range. Step 2 Completing the Application Form After hang off the phone interview, our organization will send an application form to the applicant to fill up the details to get to know more profile of the applicant. They will need to sign at the end of the page to prove the information of the application form is all truth. Step 3 Preemployment Testing We will be using Performance Simulation Tests to predict the applicants whether they are suitable for this job position. It is a test to identify the character of the applicant to engage in the job position work scope. It will be more easily to identify which applicant meets up the requirement of the job relatedness. Step......

Words: 586 - Pages: 3

5 Steps of Simulate Process

...conducting business in the foreign country. One such example is a Nike sweatshop labor case that stirred up a large amount of controversy over ethical business practices. Even though Nike has attempted to recover from the bad press it received about the sweatshops, it still struggles to defeat the negative feelings from people across the United States. Thus, a summary of the case, the legal, cultural and ethical challenges, an understanding of the roles the host governments play, and the strategic and operational challenges faced are important to gain a thorough understanding of the issues and case. Most people could easily define Nike and are familiar with the products offered, like the customized options available in the Nike store online, Nike Sportswear, Nike Women, Nike Basketball, and Nike Football. These products, among others, have led Nike to a profit of $15 billion in 2006 and a catchy “Just Do It!” slogan (Hill, 2009). The company outsourced its manufacturing plants to several countries in order to lessen costs and become more efficient in productivity. The outrage and protests that followed were far from what Nike expected; the company was labeled as forcing “children to slave away in hazardous conditions for below-subsistence wages” (Hill, 2009). As a result, protestors of globalization and human rights activists criticized Nike for taking advantage of the workers overseas and placing them in a destructive working environment. Moreover, the fact that Nike......

Words: 1167 - Pages: 5

Steps in the Medical Billing Process

...Steps in the Medical Billing Process Stacy Dickson HCR/220 March 20, 2011 Alexander Mejia Steps in the Medical Billing Process The medical billing process is one that requires attention to detail to ensure that all the proper paperwork is completed properly and accurately. This process will begin form the time the patient enters to register for their appointment until after they have finished their appointment. This paper will provide the step by step process. Visit Step 1 Preregister Patients As part of the medical billing process, preregistering patients is required. This could be scheduling a patient for an appointment or it could be to update a patients appointments. This also allows insurance information to be updated in the patient’s files and to retrieve any demographic information. The medical scheduler will also inquire for the reason of the visit so that the appropriate amount of time is allotted for the visit. Step 2 Evaluate Financial Responsibility Evaluating the financial responsibility of the visit is extremely important, to ensure that the patients insurance covers and what the patients is responsible for. It is also establish if any prior authorizations are required before services are performed. Step 3 Check In Patients When a patient new patient arrives it is necessary to take a copy of their insurance card, drivers’ license, and have them complete a new patient form with their medical history, home......

Words: 602 - Pages: 3

Steps in the Fracking Process

...Step 6: Once the drilling gets about 500 feet above the shale formation, a downhole drilling motor with sophisticated measuring instruments begins the angle drilling creating a new horizontal path into the shale formation. Step 6: Once the drilling gets about 500 feet above the shale formation, a downhole drilling motor with sophisticated measuring instruments begins the angle drilling creating a new horizontal path into the shale formation. Step 4: The cement and casing are then pressure tested to ensure hydrocarbons and other fluids don’t seep out. Step 4: The cement and casing are then pressure tested to ensure hydrocarbons and other fluids don’t seep out. Step 3: Cement is then poured into this tubing throughout, displacing any remaining fluids and securing the casing in place. Step 3: Cement is then poured into this tubing throughout, displacing any remaining fluids and securing the casing in place. Step 2: The drill pipe and bit are removed and a steel “surface casing” tube is inserted into the well which stabilizes the well sides, creating a barrier. Step 2: The drill pipe and bit are removed and a steel “surface casing” tube is inserted into the well which stabilizes the well sides, creating a barrier. Step 1: Vertical well begins to be drilled with a drill pipe and drill bit past the ground water level a few thousand feet down. Step 1: Vertical well begins to be drilled with a drill pipe and drill bit past the ground water level a few thousand feet down.......

Words: 724 - Pages: 3

8 Steps in Selection Process

...modelling, and casting. Carving A procedure dating from prehistoric times, carving is a time-consuming and painstaking process in which the artist subtracts, or cuts away, superfluous material until the desired form is reached. The material is usually hard and frequently weighty; generally, the design is compact and is governed by the nature of the material. For example, the narrow dimensions of the marble block used by Michelangelo to carve his David (1501-1504, Accademia, Florence, Italy) strongly affected the pose and restricted the figure's outward movement into space. Various tools are used, depending on the material to be carved and the state to which the work has progressed. Modelling Modeling consists of addition to, or building up of, form. The materials used are soft and yielding and can be easily shaped, enabling rapid execution. Thus, a sculptor can capture and record fleeting impressions much the way a painter does in a quick sketch. Clay or claylike substances, baked to achieve increased durability, have been used for modeling since ancient times. Casting The only means of obtaining permanence for a modeled work is to cast it in bronze or some other durable substance. Two methods of casting are used: the cire perdue, or lost-wax process, and sand-casting. Both methods have been used since antiquity, although the lost-wax process is more widely employed. Casting is accomplished in two stages: First, an impression or negative mold is formed from......

Words: 1065 - Pages: 5

New Product Process Coke Zero

... MGT 4630 Developing New Product and Services Coke Zero study by Antonio Cardoso M9820394 The aim of this report is to critically evaluate a new product that has been launched in the last 10years. The report will assess the performance of the new product, the strategy and process used by the company in developing and launching the product and to see if it was successful or not. What is a new product and what is a new product development process According to Crawford and Di Benedetto (2011) a new product is one that is either new to an organisation or a market and that it can be broken down into the following categories They go on to suggest that a new product goes through the following stages 1. Opportunity Identification and selection 2. Concept Generation 3. Concept/Project Evaluation 4. Development 5. Launch New Products Management Tenth Edition Crawford and Di Benedetto (p30, 2011) It is worth noting that the text goes on to say about the above processes that “the activities are not sequential but overlapping and it is not implied that one phase must be completed before work can begin on the next one” . I’m expecting my analysis of a real world product will not only show that the process overlaps but that it is more flexible/agile. I think that two phases can be completed at the same time, or that in some circumstances or possibly for certain products that the new products team might go from phase 1 to 2 to 4 and then possibly back to 2 before......

Words: 1939 - Pages: 8

Steps in Medical Billing Process

...Steps in the medical billing process The following ten steps will show you the order in which to do the medical billing process: I. Pre-Register patients: patient’s appointments are needed to be scheduled and kept updated. Basic insurance information should be added to the patient’s record, as well as their personal information: age, gender, weight, and height. To make sure no appointments get missed a reminder call should be made. When the patient makes their appointment, ask for an insurance card, copy it front and back then add to the patient’s medical record. II. Establish financial responsibilities for visits: As the patient shows they have insurance: their health plan coverage needs to be reviewed and its eligibility needs to be verified. It is recommended to be sure to ask the patient whether or not if there is more than one insurance company. If this is true, then the first payer should be decided. Once verified and checked that all provisions have been met, steps need to be followed to acknowledge payment for services. III. Check in patients: A new patient who is new to the practice; complete personal and medical information is collected. If the patient is returning their information needs to be reviewed, updated and verified if needed. Insurance cards and identification cards should be copied front and back, and placed in their medical chart. Any office visits that are co-payment dues should be collected at time of service. IV. Check out patients: ...

Words: 722 - Pages: 3

New-Product-Development-Process

...the steps in the new product development process. • Step 1: Idea Generation – Begin from many sources: suggestions from customers, the sales force, R&D specialist, competing products, suppliers, retailers, and independent inventors. • Step 2: Screening – Separate ideas with commercial potential from those that cannot meet company objectives. – Some organizations maintain checklists of development standards in determining whether a project should be abandoned or considered further. – These checklists typically include factors such as product uniqueness, availability of raw materials, and the proposed product’s compatibility with current product offerings, existing facilities, and present capabilities. • Step 3: Business Analysis – A product idea that survives the initial screening must then pass a thorough business analysis. – This stage consists of accessing the new product’s potential market, growth rate, and likely competitive strengths. • Step 4: Development – Financial outlays increase substantially as a firm converts an idea into a visible product. – The conversion process is the joint responsibility of firm's development engineers, who turn the original concept into a product, – and its marketers, who provide feedbacks on consumer reactions to the product design, package, color, and other physical features. • Step 5: Test Marketing – Many firms test market their new-product offerings to gauge consumer reaction. – The purpose is to verify that the product......

Words: 261 - Pages: 2

New Products

... PRODUCT MANAGEMENT NEW PRODUCTS: PH CARE PRIVA and AZTECH WiFi REPEATER Fallarme, Chelsey Mabute, Samantha Ner, Hanna Toroy, Gladys PH Care Priva Revision to the Existing Product Line. PH Care is a product of Unilab they have different kinds of feminine wash, the Cool Wind, Power Flesh, Shower Splash, Fresh Blooms, and Fragrance Free. Women want to enjoy all-day hygiene and freshness and at the end of a long day, us women, we want a comfortable period protection and discomfort drift away. It is important that we maintain complete hygiene during period, a healthy intimate balance and avoid irritation caused by sanitary products. The company created an innovation of the product line. PH CARE improved their feminine wash and introduced to the market the PRIVA-skin lightening that is formulated with glutathione. They followed it with PRIVA-skin firming that has collagen & natural extracts of “Kwao Krua” that helps improve skin elasticity and firmness. This is a revolutionary Intimate wash, which offers skin lightening and skin firming cooling and pH-balanced formulation that gently cleanses and deodorizes while removing odor-causing bacteria. Their new new product line provides the utmost hygiene cleansing formula that respects your body. What makes it more special is that it is also formulated to give extra special benefits, a pH-balanced to revitalize our natural flora. Needs and Wants of Consumers Being Served by the Product Intimate Care is essential to women.......

Words: 1681 - Pages: 7

Bis-4 Steps Process

...Part A - Four step process Question 1. Identify the legal issue of law As the elements of intention and consideration required for the formation of a contract exist, the main legal issue is whether the element of agreement required for the formation of a contract can be established and whether Chickens Galore obliged to provide Christian and Brian each with a Mazda CX-9. Explain the rule(s) of law identified in step one with reference to relevant authority Both offer and acceptance should be included in the elements of an agreement in order to meet the requirements for the formation of a contract. An element of promissory of giving or doing something that has real value. In Placer Development Ltd v Commonwealth (1969) 121 CLR 353 case, the Commonwealth government said to pay a subsidy to companies that imported timber products into Australia but after some initial payments, they stopped. The issue is whether the subsidy load considered as a legal enforceable promise, which is later decided by the court that it is not. This is called illusory promises in which the amount is not yet to be stated (Lambiris 2012, 248). Advertisement is accounted as an offer in Carlill v Carbolic Smoke Ball Co [1893] 1 QB 256 case, where Carbolic Smoke Ball Company offered a reward of £100 to whom purchased their products and used them properly but nevertheless caught influenza. Carlill had bought the product, used it as instructed after seeing the advertisement and eventually caught......

Words: 1258 - Pages: 6

Steps for New Products

...oriented information used in the strategic planning process. Steps for NEW products: 1. Idea generation 2. Screening ideas 3. Business analysis 4. Pro- type development 5. Test marketing 6. Commercialization Idea generation: The PIC should then direct the search for new-product ideas. Idea generation should be systematic rather than haphazard. Otherwise, although the company will find many ideas, most will not be good ones for its type of business. A company typically has to generate many ideas in order to find a few good ones. A recent survey Irproduet managers found that of 100 proposed new product ideas, 39 begin the product development process, 17 survive the development process, 8 actually reach the marketplace and only 1 eventually reaches its business objectives.7 To obtain a flow of new-product ideas, the company can tap many sources. Chief sources of new-product ideas include internal sources, customers, competitors, distributors and suppliers. * Internal Sources * Customers * Competitors * Distributors, Suppliers and Others Screening ideas: The purpose of idea generation is to create a large number of ideas. The purpose of the succeeding stages is to reduce that number to a manageable few which deserve further attention. The first idea-reducing stage is idea screening. The purpose of screening is to spot good ideas and drop poor ones as soon as possible. As product development costs rise greatly in later......

Words: 1349 - Pages: 6

Kotter 8 Step Model

...make fundamental changes in how business is conducted in order to help cope with a new, more challenging market environment. A few of these corporate change efforts have been very successful. A few have been utter failures. Most fall somewhere in between, with a distinct tilt toward the lower end of the scale. The lessons that can be drawn are interesting and will probably be relevant to even more organizations in the increasingly competitive VER THE PAST DECADE, 96 Harvard Business Review | January 2007 | hbr.org Lawrence Zeegen Error 1: Not Establishing a Great Enough Sense of Urgency Most successful change efforts begin when some individuals or some groups start to look hard at a company’s competitive situation, market position, technological trends, and financial performance. They focus on the potential revenue drop when an important pat- ent expires, the five-year trend in declining margins in a core business, or an emerging market that everyone seems to be ignoring. They then find ways to communicate this information broadly and dramatically, especially with respect to crises, potential crises, or great opportunities that are very timely. This first step is essential because just getting a transformation program started requires the aggressive cooperation of many individuals. Without motivation, people won’t help, and the effort goes nowhere. Compared with other steps in the change process, phase one can sound easy. It is not. Well over 50% of the companies I have......

Words: 5260 - Pages: 22

New Products Process

...24y/w 924 = 23y/w week 4 week 5 week 6 502 = 25y/w 693 = 23y/w 522 = 26y/w Compute the labor productivity for each of the weeks. On the basis of your calculations, what can you conclude about crew size and productivity? Smaller crew sizes had the higher productivity. 3. Compute the multifactor productivity measure for each of the weeks shown for production of chocolate bars. What do the productivity figures suggest? Assume 40-hour weeks and an hourly wage of $12. Overhead is 1.5 times weekly labor cost. Material cost is $6 per pound. Standard price is $140 per unit. Week Output Workers Material(lbs) 1 30,000 6 450 2 33,600 7 470 3 32,200 7 460 4 35,400 8 480 Week 1 30,0006x40x12+450x6+(6x40x12x1.5) 30,0002,880+2,700+4,320 = 3.03 units of output per dollar of input Week 2 33,6007x40x12+470x6+(7x40x12x1.5) 33,6003,360+2,820+5,040 = 2.99 units of output per dollar of input Week 3 32,2007x40x12+460x6+(7x40x12x1.5) 32,2003,360+2,760+5,040 = 2.89 units of output per dollar of input Week 4 35,4008x40x12+480x6+(8x40x12x1.5) 35,4003,840+2,880+5,760 = 2.84 units of output per dollar of input...

Words: 368 - Pages: 2

8 Step Process for Leading Change

...Step One: Establishing a Sense of Urgency Establishing a sense of urgency is essential to gain the cooperation needed to initiate a greater need for change. Some leaders misjudge the difficulty to get people out of their comfort zone, or give themselves too much credit for how well they think they have already done. They could also just lack the patience required to develop appropriate urgency. Leaders should understand the importance of having a sense off urgency. If they did, they would be able to differentiate between complacency, false urgency and true urgency. Many times change initiatives fail isn’t due to being poorly thought out, or insufficient facts, the problem is that the case is all head and no heart. Leaders should “Aim for the Heart.” This way they will connect to the values of their people and encourage them to become great. The business will then bloom with human experience, engage the senses, create messages that are simple and imaginative, and call people to aspire. Step Two: Creating the Guiding Coalition Forming the right coalition of people to lead a change initiative is detrimental to its success. The coalition must have the right composition, a substantial level of trust, and a mutual objective. Decision-making is an important component for teams. In a world that is constantly changing, organizations are forced to make decisions more quickly and with less certainty. Teams of leaders and managers acting together are the only effective way to......

Words: 1988 - Pages: 8