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New Product Development

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by

jordan moretti

on 21 April 2010

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Transcript of New Product Development

Introduction
GO!


Stage One: Opportunity Identification

Goal: Identify areas of “pain”
-As lead Users and Scenerio Planners do

Brainstormed 25 areas of pain in our lives
-Utilized Team Member Knowledge

Researched current solutions to that pain

Cut list down from 25 to 10 ideas slide one

New Product Development:
SempRefresh

Nurit Kohl, Josh Butzbaugh, Daniel Randa, Geoff Horsfall, Jordan Moretti
Our Product


Ionized Silver compound in powdered Form
Neutralizes odor
Applied to fabric during manufacturing
Wide range of potential uses
Licensing technology to companies
STAGE I STAGE II
STAGE III STAGE IV STAGE V Peeling an Orange
Pain: Peeling an orange
- Sticky fingers, peel under the nails

Everyone liked it... Go for it!

Research: Amazon sells 50 types of orange peelers




Anti-Odor Clothing

Pain: my exercise shirt smells after a workout, and I'm embarrased at the gym.

Everyone liked the idea... Go for it!

Research: Wicking technology exists, but not
address odor

This idea?
Concept Generation

Goal: Come up with a product for our 10 opportunities
-Path of Least Resistance
-Original and Useful

Brainstorm
-Ideas would modify

Likert Scale Comparison against Reference Product

Cut list down from 10 to 3

Ski Buddy Finder

Idea: A device that locates individuals on the ski
mountain and allows you to communicate with them

Novel, everyone like concept

Likert Scale Criteria didn't rank it high

Too many alternatives available

This idea? Odor Stopping Clothing

Idea: Applying Ionized Silver technology to clothing in order to make them odor nuetral

Scored high in all categories

Seen as original and useful

This idea? Concept Evaluation and Screening

Goal: Further concept screening/qualitative interview

-Five focus groups of potential customers

-Standardized interview questions

Ideas were expanded

Unforeseen obstacles came into focus Odor Stopping Clothing

Positive interview feedback

Value proposition needs clarification

Possibility for multiple applications arose
-Gym towel, Yoga mats, Sponges

This idea?
Development

Two ideas remain: Odor Stopping Clothing and
the Hands-Free Flush

Concepts are explored in more depth

Prototypes are built
Hands Free Flush

Questions remain about need for a low cost
residential application

Current designs are decades old; redesign will
require a change in behavior

Low cost + low profit margins + questionable
demand = UNCERTAINTY

This idea? Odor- Free Clothing

Comparatively open market space

Not incremental improvement

Focus on athletic apparel/accessories brings concept into
focus

Possibility for branding and brand extension widens
appeal for concept

This idea? GO!
KILL!
Interview Questions

"What do you think about the idea?"

"Who would use it?"

"What product would you substitute with it?"

"How much would this cost?"


KILL!
KILL!
GO!
GO!
KILL!
KILL!
Play it by ear keyboard

Original concept was well liked by group

Scored well on the likert rating system

Inteviews revealed existing products with
similar capabilities

Traditional alternatives have advantages

This idea?
3
Remote Phone Charger Website Rating Site
Pedal Car
Love Your RC Cure for the Uncomfortable
Ski Boot Play it by Ear Keyboard
No Touch Toilet Online Publishing
Odor Stopping Clothing 1 2
4 5 6 7 8 9 This Idea? STAGE IV
Hands Free Flush

Add-on versus entire unit

Questions remain about need for a low
residential application

Behavior change required

Low cost + Low profit margins + questionable
demand = caution

This idea? Odor-Free Technology

Comparitively open market space

Broad range of applications

Possibility for branding and brand extension
widens appeal for concept

Licensing opportunities

This idea? Launching SempRefresh

Licensing model (i.e. Thinsulate, Gor Tex)
-Low cost, low risk

Line extensions

Multiple revenue avenues

License directly to brands of materials
Launching SempRefresh

Gain first mover advantage

Consumer Education
-Brand Identity

Targeted Partnership Marketing
-Logo on packaging/tags
-Pamphlet with purchase
-Testimonials
-Web/Print Advertising
Conclusion

Essential: Grounding each stage with objectivity

Systematic process led to surprises

Consumers can provide unique insight

Blue Ocean territory proved most attractive

Process provide confidence that SempRefresh
can be a success! Questions? Launching SempRefresh

Identify four target industries

Developed industry specific prototypes

Locate focus groups

Collect feedback
Full transcript