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New Product Strategy

New Product Strategy. Krishna Unadkat MEFGI. Product Innovation Strategy. Need for Product Innovation. It specifies the market potential. It specifies the source of competitive advantages . It specifies the differential advantage the development seeks through technology.

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New Product Strategy

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  1. New Product Strategy Krishna Unadkat MEFGI

  2. Product Innovation Strategy

  3. Need for Product Innovation • It specifies the market potential. • It specifies the source of competitive advantages . • It specifies the differential advantage the development seeks through technology. • It specifies the relative orientation between technology and market leadership. • The level of risk acceptance can be set.

  4. Types of Risk • Technological • Market • Competitive • Investment

  5. Product Innovation Charter - Crawford • Background : Key ideas from the situation analysis, special forces • Focus : Have at least one clear technology and one clear market dimension • Objective : Be as specific as possible • Guidelines : Any special source of Innovativeness

  6. Components of New Product Strategy : • Technologies • Markets

  7. Technological Newness Invention v/s Innovation • Invention is a part of innovation whereas innovation goes beyond the laboratories and requires conversions. • One invention may lead to one or more innovations. • The conversion process of innovation may be quite separate from the invention. • Different people at different times to different degree

  8. Technology forecasting • The difficulty in predicting a breakthrough • The time lag between invention and innovation • Interrelationships among technologies which activate development • Uncertainties regarding the diffusion of new technologies

  9. Managing R & D • Offensive • Defensive • License • Interstitial • Acquisition

  10. EYE TRIBE • Eye Tribe: Eye tracking has been actively discussed by technology enthusiasts throughout these years, but it’s really challenging to implement. But Eye Tribe actually did this. They successfully created the technology to allow you to control your tablet, play flight simulator, and even slice fruits in Fruit Ninja only with your eye movements. • It’s basically taking the common eye-tracking technology and combining it with a front-facing camera plus some serious computer-vision algorithm, and voila, fruit slicing done with the eyes!

  11. Market Newness • NO Technological Change – New Use • Improved Technology – Market Extension • New Technology - Diversification

  12. Classic Examples • Teflon Coating

  13. Jet Engine + Metallurgy • Fat Kill Injection

  14. Oxygen Bars

  15. Dairy Milk Shots • Oreo Shake

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