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For further information and registration, please contact Rose Kelly Pond at rkpond@
spgconsulting.com
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IN THIS ISSUE
by John E. Hogan, Ph.D., VP & Director of Research, Strategic Pricing Group
In this issue of SPG Insights, we’re taking an in-depth look at the new product development process and what companies need to do to maximize the revenue and profit they realize from their R&D efforts. With the resurging economy, new product launches are everywhere. Just last week, one of the major newswires had over 500 new product announcements from companies hoping to grab your attention – and that was a shortened Fourth of July week! And yet we know from our research that the vast majority of those new products will miss their revenue and margin targets…often by a wide margin.
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NEW PRODUCT SUCCESS
ENHANCE YOUR NEW PRODUCT DEVELOPMENT PROCESS WITH "VALUE GATES"
by John E. Hogan, Ph.D., Strategic Pricing Group
Looking back over the last ten years of new product launches provides a sobering view; the landscape is littered with innovative new products that ultimately failed in the market place. It is surprising how many new products fail because they don’t create sufficient value for customers, or because their pricing strategy is not consistent with the value the product delivers. Our experience with new product launches suggests that in many firms, there is a disconnect between the new product development process and the realities of the market place. Ultimately, the thing that customers care about is how a new product will impact their bottom line (i.e., its economic value). Yet, surprisingly few firms incorporate a quantified assessment of economic value into the new product development process.
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DRIVING GROWTH WITH NEW PRODUCTS
HOW TO AVOID NEW PRODUCT PRICING TRAPS
by John E. Hogan, Ph.D. & Tom Lucke, Strategic Pricing Group
Conventional wisdom holds that the best time to launch new products is in the early stages of an economic recovery when demand picks up and customers become less price sensitive. While this may be true for some, our experience shows that most companies actually miss a significant opportunity to maximize revenue and profits due to dysfunctional pricing strategies whose roots are traced to the years before the recovery.
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If you would like to see an issue addressed by our team, please forward your question to SPG_insights@spgconsulting.com
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