MKTG6004 Lecture Notes - Lecture 2: Marketing Plan, Marketing Strategy, Business Plan
Document Summary
The new product process: opportunity identification (strategy) swot, concept generation (np ideas, evaluation, development and testing, launch and management. The path the new product takes from idea to the time of launch and beyond. Research, evaluate, validate, rank ideas (as opportunities more general); sales potential exists. Strategic document pic" (product innovation charter) created for major opportunities. It is a document that links the firm"s marketing plan to future np activities (guide further work) Corporate strategy marketing strategy product strategy (pic) np development & launch. Select a high potential/urgency opportunity, and begin customer involvement. Collect available new product concepts that fit the opportunity and generate new ones as well. Four main approaches to concept generation: existing/available ideas, problem-solving for consumers ( problem find-solve", looking for gaps, modifying/improving existing products. Evaluate new product concepts (as they begin to come in) on technical, marketing, and financial criteria give a score based on specific criteria.
