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Week 1 -Introduction to product planning What is a product? A product is a physical good, interaction, idea, person, event, or place that is capable of offering combinations of tangible and intangible, identity, components that individuals or organisations regard as so necessary, worthwhile or satisfying that they are prepared to exchange money , patronage or some other unit of value in order to acquire it. (Brassington and Pettitt 2003, p. 268) Product components Products are made up of four main components: Identity (brand) Target (Customer and constituents) Physical (Good) Intangible (Interactions/information/skills/relationships) What is product management? Product management is the planning, directing and controlling of a product or related group of products, in order to maintain, increase or decrease sales. The overriding objective of product management is to contribute to current and future revenues.Product manager’s role (daily, short term, long term) Activities of product management Brand/Product manager’s stakeholder interactions – key activity Brand/Product manager’s decisions – key activity

Week 2

Week 3 Tools for product planning Existing tools for product management Product books SWOT Analysis TOWS Segmentation-Target identification and positioning Forecasting techniques Taxonomies Internal/External 4Ps/6Ps/7Ps for decision variables PESTDEC (The Political, Economic, Demographic, Social, Technological, Cultural and Environmental changes that influence demand ecology) Market-Customer research New tool 1: Demand ecology Demand ecology is a networked family of role players dependent on a company's creation and delivery of a product who are connected to each other through links transferring information, product and cash. New tool 2: Blueprinting for customer interactions In this approach we do not look at stakeholders but activities which deliver the intangibles to the customer

Week 4 Managing products and customers The New product development process (NPDP) The product development process has historically followed a set of steps referred to as a 'classical' (or waterfall) approach. This week, we will explore this approach, and contrast it with the new product development process (NPDP) - the Agile approach. Classical (stage gate) approach At the end of each stage in the classical approach there is an evaluation gate through which each developing product must pass. The Agile approach to new product management The Agile movement seeks alternatives to traditional project management. Agile approaches help teams respond to unpredictability through incremental, iterative work cadences and empirical feedback. Agilists propose alternatives to waterfall, or traditional sequential development. (adapted from Karlstrom & Runeson 2006)The Agile approach was developed for software products, but there has been some adoption in high tech product development.There is more emphasis on: Time to release People and interactions-teams not tasks Working prototypes Customer collaboration Responsiveness to changes rather than following a formal plan Treats NPD as an interactive complex system (network) rather than a simple flow (process) Activities in days not months Less emphasis on feature set

Week 5 What is a new product? New-to-the-world (really-new) products:(10% of new products): Inventions that create a whole new market. For example, the Polaroid camera, Sony Walkman, Palm Pilot, Rollerblade in-line skates, or P&G Febreze.New-to-the-firm products:(20%): Products that take a firm into a category new to it. For example, Hallmark gift items, or the Canon laser printer.Additions to existing product lines:(26%): Line extensions and flankers that flesh out the product line in current markets. For example, Apple’s iMac.Improvements and revisions to existing products:(26%): Current products made better. For example, Mortein pest control products.Repositionings:(7%): Products that are retargeted for a new use or application. Also includes retargeting to new users or new target markets. For example aspirin repositioned as a safeguard against heart attacks.Cost reductions:(11%): New products that provide the customer similar performance but at a lower cost. May be more of a 'new product' in terms of design or production.

Week 6 Introduction to the new product process There are five phases in the new product process: Phase 1: Opportunity identification/selection. Phase 2: Concept generation. Phase 3: Concept/project evaluation. Phase 4: Development.Phase 5: Launch.

Week 7Stage 1: Opportunity identification and selectionThe Product Innovation Charter (PIC) is the new product team’s strategy for products, not processes. It is for innovation (think of the definition of new product) and is a document specifying the conditions under which a firm will operate. Typically, it is a document prepared by senior management designed to provide guidance to the strategic business units (SBUs) on the role of innovation.Focus:Technology strengths include Apple’s operating system, hardware, applications, and services, product design and development skills. Marketing requirements include products on the 'cutting edge' that offer seamless integration and high performance, yet are intuitive, simple, and fun to use.Goals:Revolutionary new products should also be platforms for future products, due to the cost of 'really new' product development. New products should occupy the leadership position in the market.Special Guidelines:Apple aims to be the best, not necessarily the first, in new product categories.The Result:Apple’s first 'tablet computer', a revolutionary new product seen by many at the time as the 'next big thing.' No one tablet computer had established a dominant position yet, so Apple could be the standard bearer with the iPad. The plan for the future was to add capabilities and applications to future iPads.

Week 8 Stage 2: Concept generation Required inputs to the creation process Form: the physical thing created, or, for a service, the set of steps by which the service will be created. Technology: the source by which the form is to be attained. Benefit/Need: benefit to the customer for which the customer sees a need or desire. Technology permits us to develop a form that provides the benefit. Some patterns in concept generation Customer need > firm develops technology > produces form Firm develops technology > finds match to need in a customer segment > produces form Firm envisions form > develops technology to product form > tests with customer to see what benefits are delivered Note: the innovation process can start with any of the three inputs. The designer decaf example Benefit: Consumers want decaffeinated espresso that tastes identical to regular. Form: We should make a darker, thicker, Turkish-coffee-like espresso. Technology: There’s a new chemical extraction process that isolates and separates chemicals from foods; maybe we can use that for decaffeinating espresso coffee.

Week 9 Stage 3: Concept evaluation DecisionA: Stop the project nowB: Continue to next evaluationA. Product would fail if marketedAABAB. Product would succeed if marketedABBB ATAR Model Awareness:Has heard about the new product with some characteristic that differentiates it.Trial:Usually means a purchase or consumption of the product.Availability:If the buyer wants to try the product, the effort to find it will be successful (expressed as a percentage).Retrial:The product is bought at least once more, or (for durables) recommended to others.

Week 10Stage 4: DevelopmentContributions of design to the new products process. Design for speed to market. Design for ease of manufacture. Design for differentiation. Design to meet customer needs ('user oriented design'). Design to build or support corporate identity. Design for the environment. Principles of universal design.Equitable use: The design is useful to people with varied abilities.Flexibility in use: The design accommodates a wide variety of preferences.Simple and intuitive to use: The design is easy for anyone to understand.Perceptible information: The design communicates the required information to the user. Tolerance for error: The design minimises adverse consequences of inappropriate use.Low physical effort: The design can be used efficiently by anyone with minimal fatigue.Size and space for approach and use: The product is easy to reach, manipulate, and use.

Week 11

Stage 5: Product launch Types of demand sought Primary demand: for new-to-the-world product. Replacement demand: for a product improvement or upgrade (new computer chip, new compact car). Selective demand: for an entry into an established market. The target market decision Alternative ways to segment a market - end-use, geographic/demographic, behavioural/psychographic, benefit segmentation. Micromarketing and mass customisation. Also consider the diffusion of innovation. Product positioning Who — Why — How. To whom are we marketing? Why should they buy it? How do we best make the claim?