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MODUL PERKULIAHAN

STRATEGIC MARKETING
MANAGEMENT

Innovation and New Product Strategy

Modul Standar untuk digunakan dalam Perkuliahan


di Universitas Mercu Buana

Fakultas Program Studi Tatap Muka Kode MK Disusun Oleh

08
Pasca Sarjana Magister MK0000 Dr. Yuli Harwani, MM
Manajemen

Abstract Kompetensi
Modul ini membahas mengenai Diharapkan mahasiswa mampu
innovation as a customer-driven mengidentifikasi dan menjelaskan
process, new-product planning, idea mengenai innovation as a customer-
generation, screening, evaluating and driven process, new-product
business analysis, product and planning, idea generation, screening,
process development, marketng evaluating and business analysis,
strategy and market testing, product and process development,
commercialiation, variations in the marketng strategy and market
generic new product. testing, commercialiation, variations
in the generic new product.
Innovation and New Product Strategy
Creativity and innovation are essential to all organizations growth and performance in
the global marketplace. Innovation takes many forms including new goods and services,
organizational processes, and business models. Importantly, even when the critical role of
innovation is recognized by managers, deciding which innovation and develop effective
processes to identify innovation opportunitie and transform ideas into new-product successes.
The economic pressures and market turbulence that impacted companies in a wide
range of industries during the early years of the twenty-first century shifted many executives
strategic priorities away from the development of cutting edge new products. Instead, short-
term, bottom-line performance was the center of attention. These short term cost initiatives
may sometime be necessary, but it is essential to also pursue long-term innovation strategies.
Innovation creates competitive advantage for the organization and value for customers. Based
on a survey of CEOs and government leaders on the topic of innovation, IBM Chairman
Samuel J. Polmisano highlights the following innovation initiatives as important success
factors:
• Innovation is a mandatory avenue to successful business performance due to the
intense pressures of global competition and commoditization of products and
processes.
• Business model innovation plays a critical role in gaining a unique position in
markets and competitive space. Product differentiation is only a short-term
competitive advantage.
• Collaboration relationships within the organization among value chain members,
competition, government, and other relevant groups are essential in achieving
successful innovation results.
• The CEO must personally lead the organization’s innovation culture initiatives.

In this chapter we consider the planning of new products beginning with a discussion of
innovation as a customer-driven process.

Types of Innovations
Innovations can be classified according to (1) newness to the market; and (2) the extent of
customer value created, resulting in the following types of innovations:
• Transformational Innovation : prodcuts that are radically new and the value created is
substantial. Examples include CNN News Channel, automatic teller machines, and
digital cameras.
• Substantial Innovation : Products that are significantly new and create important
value for customers.
• Incremental Innovations : new products that provide improved performance or greater
perceived value (or lower cost).

A company’s new-product initiatives may include innovation in one or more of the three
categories. The reality is that many new products are extensions of existing product lines and
incremental improvements of existing products rather than totally new products. New-
products initiatives are guided by customer needs analysis. Even transformational innovations
should have some relationship to needs tahta are not ebing met by existing products.
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However, as we discuss shortly, potential customers may not be good sounding boards for
radically new innovations. Importantly, these transformational innovations may have a
disruptive impact on existing products.

Finding Customer Value Opportunities

Customer value requirements provide important information for determining where


opportunities exist to develop new products. Maret segment identification and analysis help
find segments which offer new-product opportunities to the organization. Extensive study of
existing and potential customers and the competition are vital in guiding effective new
product planning.
We know that customer value is the combination of benefits provided by a prodct
minus all of the costs incurred by the buyer. Customer satisfaction indicates how well the
product-use experience compares to the value expected by the buyer. The closer the match
between expectations and the use experience, the better the resulting value delivery.

Customer Value

The objective of customer value analysis is to identify needs for: (1) new products; (2)
improvements in existing products; (3) improvement in the processes that produce th
products; (4) improvements in supporting services. The intent is to find gaps (opportunities)
between buyers’ expectations and the extent to shich they are being met. Everyone in the
organization needs to be involved in this process.

Finding New Product Opportunities

A difference between expectations and use experience may indicate a new product
opportunity. Developing products for a new product category requires realistic assessment of
the organizations capabilities concerning the new category. Partnering with a company that
has the needed capabilities is an option concerning the addition of a new product category.

Transformational Innovations

Customers may not be good guides to totally new product ideas that may be called
radical of breakthrough innovations since they create new families of products and
businesses. When such ideas are under consideration, potential custmers may not understand
how the new product will replace an existing product. The problem is that customers may not
anticipate a preference for a revolutionary new product.

Developing a Culture and Strategy for Innovation

Open communications throughout the organization and high levels of employee involvement
and interest are characteristic of innovative cultures. Recognizing the importance of
developing a culture and innovation strategy. Evidence of innovative cultures may be found
in corporate mission statements, advertising messages, presentations by top executives, and
case studies in business publications.

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Innovation Culture

Creating (and strengthening) an innovation culture can be encouraged by several interrelated


management initiatives.
• Pland and implement a two-day innovation workshop of top executives to develop an
innovation plan.
• Develop an innovation statement highlighting the company’s objectives and senior
management’s roles and responsibilities.
• Conduct innovation training programs for employees and managers to encourage
commitment and involvement.
• Communicate the priority of innovation via articles newsletters, and presentation to
employees, shareholders, and customers.
• Schedule innovation speakers on a regular basis to expose employees to innovation
authorities.

Strategy for Innovation

The organization’s innovation strategy spells out management’s choice of the organization’s
most promising opportunities for new products. This strategy should take into account the
organization’s distinctive capabilities, relevant technologies, and the market opportunities
that provide a good customer value match with the organization’s capabilities.A successful
new product strategy includes :
1. Setting specific, written new product objectives (sales, profit contribution, market,
share, etc.)
2. Communicating throughout the organization the role of new products in contributing
to the goals of the business.
3. Defining the areas of strategic focus for the corporation in terms of product scope,
markets, and technologies.
4. Including longer term, transformational projects in the portofolio along with
incremental projects.

Developing Effective New Product Planning Processes

Creating the right culture and selecting the right innovation strategy are essential but
not sufficient initiatives in pursuing successful innovation innitiatives. Innovation is achieved
through the processes put in place by the organization. Successful new product planning
requires: (1) generating a continuing stream of new-product ideas that will satisfy the
organization’s requirements for new products; and (2) putting in place people, processes, and
methods conducting activities and evaluating new-product ideas as they move throught each
of the planning stages.
The following initiatives are important in effectively applying the planning process to
develop and introduce new products. First, the process involves different business functions,
so it is necessary to develop ways of coordinating and integrating cross-functional activities
in the planning process. Second, compressing the time span for product development creates
an important competitive advantage. Third, the product planning activities require resources
and must be managed so that the results deliver high levels of customer satisfaction at
acceptable costs. Finally, the planning process can be used for new service development as
well as physical products.
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Responsibility for New-Product Planning

Since new-product development involves different business functions such as marketing,


finance, operations, human resources, and research and development (R&D), ways of
encouraging cross-functional interaction and coordination are essential. Various
organizational designs may be employed to coordinate interfunctional interactions that are
necessary in developing successful new products, including.
• Coordination of new product activities by a high-level business manager.
• Cross-functional coordination by a new product planning team
• Creation of a cross-functional project task force responsible for new-product
planning.
• Designation of a new-products manager to coordinate planning among departments.
• Formation of a matrix organizational structure for integrating new-product planning
with business functions.
• Creation of a design center which is similar in concept to a new product team, except
the center is a permanent part of the organization.

The design team and design center are more recent new-prodct coordination mechanisms.
Though cross-functional teams are widely cited as promising new-product planning
mechanisms, research findings suggest that they may be most appropriate for planning truly
new and innovative products.

Source of Ideas

New-product ideas come from many sources. Limiting the search for ideas to those generated
by internal research and development activities is far too narrow an approach for most firms.
Sources of new-product ideas include R&D laboratories, employees, customers, competitors,
outside investors, acquisition, and value chain members. Both solicited and spontaneous ideas
may emerge from these sources. Increasingly, companies are developing “open-market
innovation” approaches to generating ideas using licensing, joint ventures, and strategic
alliances.

The Search Process

It is essential to establish a pro-active idea-generation and evaluation process that meets the
needs of the enterprise. Answering these questions is helpful in developing the idea-
generation program :
• Should idea search activities be targeted or open-ended? Should the search for new-
product ideas be restricted to ideas that correspond to the firm’s new product
strategy?
• How extensive and aggressive should new-product idea search activites be?
• What specific sources are best for generating a regular flow of new-product ideas?
• How can new ideas be obtained from customers?
• Where will responsibility for new-product idea search be placed? How will new-
product idea generation activities be directed and coordinated?
• What are potential threats from disruptive technologies that may satisfy customers
better than our products?

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For most companies, the idea search process should be targeted within a range of product and
market involvement that is consistent with corporate mission and objectives and business unit
strategies.

Idea Sources
Identifying the best sources of ideas depends on many factors including the size and type of
firm, technologies involved, new-product needs, resources, management’s preferences, and
the organization’s capabilities. Management needs to consider these factors and develop a
proactive strategy for idea generation that will satisfy the firm requirements. Creating an
innovative culure should encourage generating new product ideas. The innovation strategy
provides idea generation guidelines.

Methods of Generating Ideas


There are several ways of obtaining ideas for new products. Typically, a company considers
multiple options in generating product ideas.

Search
Utilizing several information sources may be helpful in identifying new-product ideas. New-
product idea publications are available from companies that wish to sell or license ideas they
do not wish to commercialize. New technology information is available from commercial and
government computerized search services. News sources may also yield information is
available from commercial and government computerized search services.

Marketing Research
Surveys of product users help to identify needs that can be satisfied by new products. The
focus group is a useful technique to identify and evaluate new-product concepts, and this
research methods can be used for both consumer and industrial products. The focus group
consist of eight to twelve people invited to meet with an experienced moderator to discuss a
product-use situation.

Internal and External Development


Research and development laboratories continue to generate many new product ideas. The
united states is the leading spender on industrial research and development in the world and,
with the exception of countries like Japan and Korea, very few countries allocate a higher
percentage of Gross Domestic Product to R&D. Escalating R&D costs are driving innovative
companies to explore new ways of matching R&D resources to value opportunities—through
“open source innovation,” strategic alliances, joint ventures, and the global search for
promising innovation prospects.

Other Idea-Generation Methods


Incentives may be useful to get new-product ideas from employees, marketing
partners, and customers. Management should also guard against employees leaving the
company and developing a promising idea elsewhere. For this reason many firms require
employees to sign secrecy agreements.
Finally, acquiring another firm offers a way to obtain new-product ideas. This strategy
May be more cost-effective than internal development and can substantially reduce the lead-
time required for developing new products.

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SCREENING, EVALUATING, & BUSINESS ANALYSIS

Management needs a screening and evaluation process that will eliminate unpromising ideas
as soon as possible while keeping the risks of rejecting good ideas at acceptable levels.
Moving too many ideas through too many stages in the new product planning process is
expensive. Costs build up from the idea stage to the commercialization stage, whereas the
risks of developing a bad new product decline as information accumulates about product
performance and market acceptance. The objective is to eliminate the least promising idea
before too much time and money are invested in them.

Screening
A new-product idea receives an initial screening to determine its strategic fit in the company
or business unit. Two questions need to be answered: (1) is the idea compatible with the
organization’s mission and objectives; and (2) is the product initiative commercially feasible?
The compatibility of the idea considers factors such as internal capabilities (e.g.,
development, production, and marketing), financial needs, and competitive factors.
Commercial feasibility considers market attractives, technical feasibility, financial
attractiveness, and social and environmental concerns. The number of ideas generated by an
organization is likely to influence the approach utilized in screening the ideas. A large
number of ideas call for a formal screening process.

Concept Evaluation
The boundaries concerning idea screening, concept evaluation, and business analysis are
often not clearly drawn. These evaluation stages may be combined, particularly when only a
few ideas are involved. After completing initial screening, each idea that survives becomes a
new product concept and receives a more comprehensive evaluation. Several of the same
factors used in screening may be evaluated in greater depth, including buyers’ reaction to the
proposed concept. A team representing different business functions should participate in
concept evaluation.

Importance of Concept Evaluation


Extensive research on companies’ new product planning activities highlights the critical role
of extensive market and technical assessments before beginning the development of a new
product concept. These “up-from” evaluations should result in a clearly defined new product
concept indicating its market target(s), customer value offering, and positioning strategy.
Research concerning product failures strongly suggest that many companies do not devote
enough attention to “up-front” evaluation of product concepts.

Concept Tests
Concept tests are useful in evaluation and refinement of the characteristics of proposed new
products. The purpose of concept testing is to obtain a reaction to the new-product concept
from a sample of potential buyers before the product is developed. More than one concept
test may be used during the evaluation process. The technique supplies important information
for reshaping, redefining and coalescing new-product ideas.

Business Analysis
Business analysis estimates the commercial feasibility of the new-product concept. Obtaining
an accurate financial projection depends on the quality of the revenue and cost forecasts.
Business analysis is normally accomplished at several stages in the new-product planning

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process, beginning at the business analysis stage before the product concept moves into the
development stage. Financial projections are refined at later stages.

Revenue Forecast
The newness of the product, the size of the market, and the competing products all influence
the accuracy of revenue projections. In the case of an established market such as breakfast
cereals, snack foods, and toothpaste, estimates of total market size are usually available from
industry information.

Preliminary Marketing Plan


An initial marketing strategy should be developed as a part of the business analysis. Included
are market target(s), positioning strategy, and marketing program plans. While this plan is
preliminary, it is an early guide to strategy development and coordination among marketing,
design, operations, and other business functions. The choice of the marketing strategy is
necessary in developing the revenue forecast.

Product and Process Development


After completing the business analysis, management must decide either to begin product
development or abort the project. During the development stage the concept may be
transformed into one or more prototypes. The prototype is the actual product, but may be
custom produced rather than by an established manufacturing process. Use testing of the
product may occur during the development stage.

Product Development Process


The development of the new product includes product again, industrial design (case-of-use
and style), process (manufacturing) design, packaging design, and decisions to make or
outsource various product components. Development typically consist of various technical
activities, but also requires continuing interaction among R&D, marketing, operations,
finance, and legal functions. The relative importance of the activities differs according to the
product involved.

Industrial Design
Many companies are placing increasing emphasis on the ease-of-use and style of products.
Design consultants assist companies on various design initiatives. Industrial design has
become a major part of the new product development process for many products.

Prototype
The technical team uses the product spesifications to guide the design of one or more
physical products. Similar information is needed to guide software design and design of new
services.

Use Tests
When testing of the prototype is feasible, designers can obtain important feedback from users
concerning how well the product meets the needs that are spelled out in the product
specifications.

Process Development
The process for producing the product is commercial quantities must be developed.
Manucturing (producing) the product at the desired quality level and cost is a critical
determinant of profitability. The new product may be feasible to produce in the laboratory but

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not on a full-scale basis because of costs, production rates, and other considerations. Initial
production delays can also jeopardize the success of a new product.

Marketing Strategu Decisions


Evaluation efforts (e.g., concept and use tests) conducted during concept evaluation and
product development supply information that may be helpful in designing the marketing
strategy. Examples of useful planning guidelines include user characteristics, product
features, advantages over competing products, types of use situations, feasible price range,
and potential buyer profiles. Marketing strategy planning begins at the concept evaluation
stage and continues during product development. Activities such as packaging, name
selection, environmental considerations, product information, colors, materials, and product
safety must also be decided between design, operations, and marketing.

Market Targeting
Selection of the market target(s) for the new product range from offering a new product to an
existing target, to identifying an entirely new group of potential users. Examining available
marketing research information for the new product may yield useful insights as to targeting
opportunities. It may also be necessary to conduct additional research such as market testing
before finalizing the market targeting strategy.

Positioning Strategy
The core of this strategy is how management wants the new product to be positioned in the
eyes and minds of the targeted buyers. Several positioning decisions are made during
marketing strategy development. Issues such as packaging, name selection, sizes, and other
aspects of the product must be decided. The value chain strategy determines the customer
access channels to be used. It is also necessary to select a price strategy and to develop the
advertising and sales promotion strategy. Testing of ads may occur at this stage. Decisions
must be made concerning use of the internet. Finally, sales management must design a
personal selling strategy including deciding about sales force additions and training and
allocation of selling effort to the new product.

Market Testing
“A test market is a controlled experiment conducted in a carefully chosen marketplace
(e.g., website, store, town, or other geographical location) to measure marketplace response
and predict sales or profitability of a product’. Market testing can be considered after the
product is fully developed, assuming the product is suitable for market testing. Market test
gauge buyer response to the new product and evaluate one or more positioning strategies.
Test marketing is used for consumer products such as foods, beverages, and health and
beauty ices. Several methods of testing are available including simulated test marketing,
scanner based test, and conventional tests.
A description feature of simulated tests is that they are conducted in a simulated
shopping environment and may be used in place of or before a full-scale market test.

Simulated Tests
The distinguishing feature of simulated tests is that they are conducted in a simulated
shopping environment and may be used in place of or before a full-scale market tests.
Typically, a research facility is used to provide a simulated shopping in order to obtain
feedback from the participants. Not surprisingly, the findings are not as accurate as actual
market tests.

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Scanner Based Tests
These tests are conducted in an actual market environment. The test product must be made
available in each test city. Information resources Inc.’s BehaviorScan system pioneered the
use of cable television and a computerized database to track new products during these tests.
The system uses information and responses from recruited panel members in each test city.
Each member has an identification card to show to participating store cashiers. Purchases are
electronically recorded and transmitted to a central data bank. Cable television enables
BehaviorScan to use controlled advertisement testing. Some viewers can be exposed to ads
while the ads are being withheld from other viewers.

Traditional Tests
This method of market testing introduces the product under actual market conditions in one
or more test cities. It is typically used for frequently purchased consumer products. The time
required for the tests ranges from a year to 18 months or more. Test marketing employs a
complete marketing program including advertising and personal selling. Product sampling is
often an important factor in launching the new product in the test market. The product is
marketed on a commercial basis in each city, and test results are then projected to the national
or regional target market. Because of its high cost, conventional test marketing represents the
final evaluation before full-scale market introduction. Management may decide not to test
market in order to avoid competitor awareness and high testing costs, and to speed up the
new product introduction.

Web-Enabled Tests
While these tests offer less control than other test, they are increasingly used due to speed and
relatively low costs.

Testing Industrial Products


Market testing can be used for industrial products. Selection of test sites may need to extend
beyond one or two cities to include sufficient market coverage.

Selecting Test Sites


Test sites for consumer products should exhibit the buyer and environmental characteristics
of the intended market target. Since no site is perfect, the objective is to find a reasonable
match between the test and market target for the new product. These criteria are often used to
evaluate potential test sites for consumer products.
1. Representation as to population size.
2. Typical per capita income.
3. Typical purchasing habits.
4. Stability of year-round sales
5. Relative isolation from other cities
6. Not easily disrupted by competitors
7. Typical of planned distribution outlets
8. Availability of retailers that will cooperate
9. Availability of media that will cooperate
10. Availability of research and audit service companies

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Commercialization

Introducing new products into the market requires finalizing the marketing plan, coordinating
market entry activities across business functions, implementing the marketing strategy, and
monitoring and controlling the product launch.

The Marketing Plan


Market introduction requires a complete marketing strategy that is spelled out in the
marketing plan. The plan should be coordinated with the people and business functions
responsible for the introduction, including salespeople, sales and marketing managers, and
managers from othe functional areas such as operations, distribution, finance, and human
resources. Responsibility for the new-product launch is normally assigned to a marketing or
product manager. Alternatively, companies may assign responsibility to product planning and
market introduction teams.

Monitoring and Control


Real-time tracking of new-product performancesat the market entry is extremely important.
Standardized information services (e.g., Information Resources Inc.) are available for
monitoring sales of products such as foods, health and beauty aids, and prescription drugs.
Information for these services is collected through store audits, consumer diary panels, and
scanner services. Special tracking studies may be necessary for products that are not included
in standardized information services. The internet rapidly becoming an essential new product
information gathering and monitoring capability. Those activities include private online
communities and research panels that provide companies with shopers’ feedback.

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Daftar Pustaka

Cravens, David W & Piercy, Nigel F., 2000. Strategic Marketing. Ninth Edition. Irwin
McGraw Hill.

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