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New Product Development

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by

Daniel Munoz

on 29 November 2016

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Transcript of New Product Development

New Product Development
Daniel Munoz
Ty Tucker
Cody Peterson
Jase Kirksey
Cassie Cater
Brooks Gillespey
Topic 4 Group 4
Outline
Problems Womack Faces
Solutions
Survey
Metrics
Conclusion

Problems Womack faces

Forecasting
Need for a better idea of what customer is looking for with new product development
Product follow-up surveys
Makes the customer feel involved
Improves relationship with manufacturer
Cheap
Better products are developed
Conclusion
Impliment a survey system for customers
Send feedback to manufacturers
Advertise to customers to be directly involved in making the product better
Best incentive is money
Questions?
Lack of product development structure
Lack of information management
Metrics
Step 2: Marketing
Step 3: Incentives for the Distributor
Actively market that you want to hear customer's new product ideas
marketing extends beyond email and phone adverstising
customers feel empowered
performance based incentives
Negotiate discount terms with manufacturer
Compensation for distributor
Providing a service
Bigger sample size for the manufacturer
Solution: Step 1
Problems Womack is Facing
Do you have an Idea for a New Product?
Full transcript