Project Management: New Product Development Model Analysis Report

This report analyzes the new product-development model, a globally recognized framework for introducing new products to the market. The model emphasizes simplicity and provides easy-to-understand steps, incorporating creativity in sourcing new information. The report details each step of the process, from idea generation and screening to concept development, market strategy, business analysis, product development, market testing, and commercialization. It also includes risk analysis, a Gantt chart for project management, a RACI matrix, and a stakeholder management strategy, all within a budget of £2.5 million for a food industry product launch planned for the next winter. The analysis considers PESTLE factors and various methodologies to ensure high consumer acceptability of the new product. Desklib provides students access to this and many other solved assignments.

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PROJECT MANAGEMENT
University
Name
Course

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Abstract
The purpose of this report is analyze a new product-development model which is a model with
fame globally regarding the development as well as the introduction of any new product to the
target segment of the global market. As a model, new product-development is characterized by
simplicity as it provides easy-to-understand steps. With creativity being the adopted buzzword,
all the organization have adopted it in its various day-to-day operations including in devising
ways of sourcing new information concerning product development . The process of coming up
with a new product invoves various steps with each of them playing a critical role which if
abandoned, the proccess is rendered incomplete and not functional. Each of these steps or
methodologies has tools for doing its role in an effective manner. Whatever the methodology
employed by any step,it should maintain the main goals of the organization in coming up with a
product that receive high consumer acceptability.

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Table of Contents
Abstract......................................................................................................................................................2
Introduction...............................................................................................................................................5
PESTLE Analysis......................................................................................................................................6
Work Breakdown Structure.....................................................................................................................8
Step1: Idea generation.............................................................................................................................10
a. Demand –first –innovation and growth.....................................................................................10
b. Interactions..................................................................................................................................11
c. Attribute-listing technique..........................................................................................................11
d. Forced relationships....................................................................................................................11
e. Morphological analysis................................................................................................................11
f. Brainstorming..............................................................................................................................12
Step 2: idea screening..............................................................................................................................12
Step 3: Concept development and testing.............................................................................................14
3.1 Concept development....................................................................................................................14
Risk analysis.............................................................................................................................................15
3.2 Concept testing...............................................................................................................................15
3.3 Conjoint analysis............................................................................................................................16
Step 4: Marketing strategy development...............................................................................................16
Step 5: Business Analysis.......................................................................................................................16
Step 6: Product development..................................................................................................................18
i. Physical prototypes......................................................................................................................18
ii. Customer tests..............................................................................................................................18
Step 7: Market Testing...........................................................................................................................19
i. Consumer goods -market -testing...............................................................................................20
ii. Business-product market testing................................................................................................20
Step 8: Commercialization....................................................................................................................20
a. When (timing)..............................................................................................................................20
1. First entry.................................................................................................................................21
2. Parallel entry............................................................................................................................21
3. Late entry.................................................................................................................................21
b. Where (geographic strategy).......................................................................................................21
c. To whom.......................................................................................................................................21

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d. How...............................................................................................................................................22
Gant chart................................................................................................................................................22
Gant chart for the project.......................................................................................................................22
Risk management strategy......................................................................................................................22
RACI Matrix............................................................................................................................................23
Stakeholder Management Strategy........................................................................................................23
Conclusion................................................................................................................................................24
References................................................................................................................................................25
Appendixes...............................................................................................................................................29

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Introduction
Project management is an essential part of life of any organization, be it a food or non-
food related. It is a crucial process that covers all the required step-by-step processes of
developing a given product starting from the environmental screening which covers both the
internal as well as the environment in which an organization do not have control over it and all
other intermediate steps until the product is produced and launched in the market (Bouncken,
Fredrich, Ritala & Kraus, 2018). Therefore, for the best product, a product that attract many
consumers and remain relevant in the market with a high edge of competitiveness, to be
produced, its development process has to be very detailed and should be accompanied by a good
environment which favors all of the involved processes.
New product-development model is a model with fame globally regarding the
development as well as the introduction of any new product to the target segment of the global
market. As a model, new product-development is characterized by simplicity as it provides easy-
to-understand steps (Calantone, Di Benedetto & Rubera, 2018.). With creativity being the
adopted buzzword, all the organization have adopted it in its various day-to-day operations
including in devising ways of sourcing new information concerning product development .

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A product is the major pillar of an organization the company should optimize it at all the
conditions it finds itself in. Therefore, this report has been presented to handle the process of
developing a new product in the food industry which is supposed to be launched during the next
winter (Chuang, Morgan &Robson, 2015.). The development process has been allocated a
budget of £2.5 million to ensure that the product is produced to meet the desired quality as well
as ensuring that the product is produced within the time constraint.
New product-development
PESTLE Analysis
The process of coming up with a new product invoves various steps with each of them
playing a critical role which if abandoned, the proccess is rendered incomplete and not
functional. These are the factors which relate to the business environment and are summarized
as shown in the diagram below:

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Each of these steps or factors plays a very critical role. Political aspect involves the
political stability of the area in which the organization is based. Ecomic factors include the rate
of inflation which controls pricing whereas the technological aspects realtes to inclusion of
technology in the production process.Whatever the methodology employed by any step,it should
maintain the main goals of the organization in coming up with a product that receive high
consumer acceptability. An organization cannot just wake up in a day with an idea and take it to
the marketplace,it has to go through some steps (Cooper, 2016).
The figures below gives a pictorial representation of the steps involvedi n the new
product-development:

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In the figure above, this model has presented 5 steps only because an organization can
decide to put idea scooping, screening as well as its evaluation in a single basket (Cooper, 2019).
Despite this skeleton, much more details are engulfed in each step presented in the figure.
In the figure below, 6 steps are ,instead, used and it exhibits description of all of its steps
in a very simplified way.
Work Breakdown Structure
In general, according to Kotler and Keller the new product development is composed of
the steps as depicted by the following figure:

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They present an 8-stepped model of developing a new product which begins and ends
with the above identified steps so as to ensure that success in the introduction of the

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organization’s product (Cui & Wu, 2017). Ideas appearing to show unlikelihood of delivering a
good promise are eliminated.
This phase ought to be established on a well-grounded program for determining
Step1: Idea generation
According to Kotler, this phase marks the starting point of the entire process. This is
where the organization is attempting to source for a new idea. It is a step in which the
organization tries to bring a new awareness into the market either to substitute an existing
product or as a new invention. This can also be done with an intention of filling the demand gap
which exists in the market (Di Benedetto, 2016). This phase can be implemented in various ways
which can include:
a. Demand –first –innovation and growth
This strategy helps an organization to look at the available opportunities with an unbiased
eye. It permits a solution which is quantitative concerning the organization’s potential product
(Ernst, Hoyer, Kraft & Soll, 2017).
It comprises of 3 sub-steps which include:

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 Demand landscape which is responsible for mapping the needs of a
consumer.
 Opportunity space which uses different angles for the purpose of attaining
market perceptions.
 Strategic blueprint which looks on ways in which the proposed product is
likely to fit into the market as well as the way it will differ with the products of a
competitor.
b. Interactions
Making interactions with stakeholders helps the organization in obtaining different
standpoints concerning the same problem. Use of interactions comes in different approaches
which might include interacting with the organization’s employees or the company’s customers
(Florén, Frishammar, Parida &Wincent, 2018).
c. Attribute-listing technique
This technique is used in this phase to list the major product’s attributes first.
After listing of the major attributes and in order to give the product its new shape, the
efforts are modified (Fuller, 2016).
d. Forced relationships
It is a technique used to list a variety of objects first after which a consideration to each
object. Each object is compared to the others so as to develop a multi-purpose product.
e. Morphological analysis

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It is a methodology used to examine and identify essential scopes of a problem and its
relative relationships for the purpose of discovering a product’s best combination in the
manufacturing sector.
f. Brainstorming
This refers to the procedure used to deliberate a problem by a well-defined collection of
people so as to come up with various possible solutions and by which the paramount solution out
of those noted down is picked as well as being considered the most effective (Gao &
Bernard,2018).
Step 2: idea screening
This is the second phase of the new product-development and is all about driving a good
idea. It is a phase where development procedures are vetted through a unique form and to which
it attempts to answer certain inquiries about the product in the market. Such inquiries might be
whether: the product meets the desired necessity in the market, there is an effective means of
advertising the product, the product’s targeted sales capacity, sales progression and profit will be
met, the product will offer maximum mandate preferred in the market and whether the
manufacturing company have the necessary knowledge, skills, resources and capital required.
The inquiries attempted to be answered under this stage gives a breakthrough of thoughts
and identifying the ease in its prospects. Also, these inquiries must not only be answered by a yes
answer but also a no. However, an idea cannot just be categorized as a bad idea for having
majority of its answers to be negative (Gmelin &Seuring, 2018). This is because the same idea

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may have a potential in other parts. This is can be done by idea rating-device as presented
below.
This rating system is only applied for the purpose conducting evaluation on the involved
process and ought not to be used as decision-making scheme (Guo, Zheng, An, &Peng, 2017).
For effective results, recalculation of the product’s score has to take place through the entire
process. This phase involves some failure levels which ought to be considered. Such failures
include:
 Absolute failure – loss of money by the product because variable cost will not
be covered by the sales of the product
 Partial failure - money is lost by the product because variable cost as well as the
fixed costs will be covered by the sales of the product
 Relative failure - as compared to the company’s estimates, its yields are very
low.
An idea that will be screened will proceed to the next phase where it can be furthered or
full dropped.

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Step 3: Concept development and testing
This is the 3rd phase which is involved in turning a screened idea to be something that has
is to some extent tangible to the consumers or customers as well as to enable development and
testing of the market (Hakansson,2015). Therefore, in order for this to be conducted, various
steps ought to be undertaken. They include:
 Concept -development
 Concept –testing
 Conjoint –analysis
3.1 Concept development
It is considered to be the whereabouts that are undertaken for the purpose of turning an
idea into a phenomenon which relates directly to the customers from something relative.
Creating numeral concepts belonging to a single idea, idea tenacity, target segment as well as the
intended usage of the product are what lay the foundation of this step.
After the concept development, identification of those products which highest
competitive edge is done. These include products for daily usage, the fancy products as well as
the quick actions. After identification, estimation of the product’s placement as far as cost or its
usage is concerned (Johnson, Friend & Lee, 2017). Henceforth, the canned product is compared
to the ones in existence in terms of the cost related to the product.

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The data obtained here is very important in that it can be used in setting the price for the
proposed product in addition to making decisions concerning the materials which can be used or
the market-segment to venture into.
Risk analysis
3.2 Concept testing
After a given concept has been chosen, then concept testing becomes the next sub-phase.
In this phase, a market portion is used in testing the concept so as to aid in the provision of
relevant concerns to be used in gauging the finished-product reception. The consumers are either
be presented with a physical concept or its symbol (Kumar, Luthra, Govindan, Kumar &
Haleem, 2016). For this to be done, the company’s marketing executives ought to select some
limited concepts, giving out a cost –estimation of the selected concepts, designs estimation as
well as their retail -estimated price in addition to obtaining reactions from consumers.
For each concept to be tested, respondents are provided with concept details and a request
is made to them so that they can provide answers to following questions as provided in the figure
below:

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Such questions are used in increasing the communicability of the concept, gap level, and
rate of purchase, target user as well as the level of need and perceived importance (La Rocca,
Moscatelli, Perna& Snehota, 2016). Therefore, summary of the responses is assembled by the
marketer to be used in assessing if the concept meets the requirements of converting it to become
a physical product so that it can be highly accepted in by the consumers in the market full of
competition.
3.3 Conjoint analysis
It is one of the tools used this phase for the purpose of evaluating a given quantitative
customer perceived-value traits for the purpose of identifying a set of product which is the most
desirable.
Step 4: Marketing strategy development
Once a complete and a successful testing is done, strategy automatically becomes the
next step. This strategy pertains the just created product and should be effected in 3 folds. 1st,
concerns a strategy whose goal is to arrange the initial-phase of introducing the product into the
market. The information found here include the sales, market-share, and size of the target market
among others (Leenders &Dolfsma, 2016).
With the 2nd strategy, setting prices for the product, method of distributing the product as
well as including a 1-year budget comprise the key plans while the 3rd aims at planning for the
distribution, a long-term one as well as the estimations for the long-term profit. It extends to
providing estimation of the 4P’s (Marketing mix).

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Step 5: Business Analysis
After the development of the product concept as well as the completion of the marketing-
strategy, it is very important to carry out an evaluation concerning the proposal’s attractiveness.
This is important in that it checks if it will be possible to meet the objectives of the organization
considering the attached cost, the volume of sales to be made as well as the returns likely to
accrue from the sales volume (Luzzini, Amann, Caniato, Essig & Ronchi, 2015). Therefore, if
the management is provided a positive solution to the above question, then it marks the onset of
product development.
This phase is made up of the following: Estimating total sales which includes replacement-sales estimate.
Management of the organization finds it very important because it uses it in assessing
whether the full sales provides a warranty of an excellent returns or profits as far as the
new product is concerned. It is through the summation of the 1st-time, replacement as
well as the repeat sales that an organization will get the estimated-total sales. The figure
below summarizes this issue (Marion, Eddleston, Friar& Deeds, 2015).
 Estimating Costs and Profits: cost- profit analysis estimation is the step
that follows in the business analysis phase. Here, the management is interested in

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knowing the cost associated with the sales in addition to gauging the returns that are
likely to be accrued. The management is able to come up with an annual which enables
them to make proper decisions concerning the worthiness of the product to be developed.
The facilitation of this process is enacted by the varying estimates from the finance
sector, marketing-strategy as well as the information from the departments of research
(Santos, Loures, Piechnicki &Canciglieri, 2017). The other method which can be done is
the risk analysis which is applied in worst as well as the best-case states as far as
uncertainty of a variable is concerned.
Step 6: Product development
Product development as one of the phases of new product-development is involved in
introduction of the product’s actual prototype. This phase is split into two parts which are very
distinct and their details provided in the next section
i. Physical prototypes
This section deals with the construction of the tangible prototype. This ought to be done
within some parameterized and a 4-stepped set. Those variants which are accepted by the
appearance as well as the product’s functionality are the considerations to be made in this phase.
The production of the physical-prototype should be done with the budget constraint of £2.5
million.
Streamlining has resulted in the prototype improvement because of the technological
advancement in the field of technology. Technology is depicted here by the use of simulation

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programs to aid in predicting the nature of any material as well as its shape rather than using the
trial-and-error method (Sattayaraksa & Boon-itt, 2016.).
In this phase, customer’s considerations are into account. This includes the customer’s
view concerning the shape as well as the color of the product or even its physical size.
ii. Customer tests
After the completion of prototype testing, the next step involves texting the prototype on
the setting of the customer. The testing process is implemented using 2 stages which are
identified as 1) alpha 2) beta types of testing. Before the product is presented to the public,
majorly-known issues are identified by the Alpha testing.
Beta type of testing is carried out at a stage when the readiness of a product has been
ascertained for a mass-scale process of testing (Sjoerdsma &van Weele, 2015.). This is a
common term in video-gaming world where an early game access is received by the players for
the purpose of making bug reports or in climate testing as well as in feedback-provision
concerning the game-mechanics. The attached importance of beta testing is depicted in taking
out the product to the masses so as to provide responses as feedback as well as helping to
identify production related errors whose occurrence is very infrequent and could not manifest
themselves in alpha tests which is a small scale.
It is now the customer’s turn to be the one testing the product and depending on the
company’s preference, it is possible to be undertaken in several ways. Paired-comparisons are
some of the methods used as measuring models as far as the popularity of the ranking systems is
concerned.

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Step 7: Market Testing
Due to the fact that the team involved in marketing may not be in a good position to have
100% assurance concerning the reactions of the product’s consumers regardless of the perfect
preliminary work by the time the product reaches the marketplace, market testing is done. It is a
process charged with the process of selling the proposed product in a test-market (Stark, 2015).
The following are the approaches which are applied while keeping the product-type in
mind:
i. Consumer goods -market -testing
Consumer goods-testing is used in testing some of the following variables: trial variable
set, first -repeat, adoption variable as well as the purchase –frequency variable. For the purpose
of avoiding false-positive in the rate of sales, measuring such variables. Many people are likely
to purchase a product if they are given a chance to try the product first due to the important thing
known as hype (Tukker &Tischner, 2017). The main criticism of this is that not all of those who
have tried the product will automatically make a purchase of the same once more.
ii. Business-product market testing
Upon the completion of both the alpha and the beta testing, it becomes a good time for
an organization to carry out the market testing for the purpose of enquiring about reactions as
well as the purchase intent of a customer. It will paramount to take feedback very keenly because
of the limited number of customers with purchasing-potential. This therefore, takes the results of
the beta testing into consideration (Tyagi, Choudhary, CAI & Yang, 2015).

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Step 8: Commercialization
This step marks the last phase of a new product-development and it main concern is the
full-launching a new-product (Vickery, Koufteros, Dröge & Calantone, 2016). It is very costly to
introduce a product and thus the process requires some quite investment. Hence, it is a
requirement to factor in the following:
a. When (timing)
The concept of holding timing as everything still proves right during the development of
the new-product. The product introduction by the company is fully categorized into 3 groups
which are: first, parallel as well as the late entry.
1. First entry
An organization is considered to enjoy first entry-privileges when it introduce its
new product in a market without direct competition. Such advantages can include securing key-
partners as well as obtaining best and fair market deals (Wowak, Craighead, Ketchen & Hult,
2016). Moreover, it is very easy to win the customer’ loyalty because the late comers will be
considered as imitators.
2. Parallel entry
This occurs if it has happened that at time of product introduction by an organization, a
competitor is also introducing a product of similar usage.
3. Late entry

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This is occurs when the market in which the organization is aiming to introduce its
product at, is already having a similar product.
b. Where (geographic strategy)
It is concerned with the geographical setting where the product will be based. This can be
made familiar through advertisement or any other promotional means.
c.To whom
This touches on the selected group the product is being made for.
d. How
Deals with the methodology used in introducing the product into the target market.
Gant chart
It lists the all the relationships among the various tasks and it helps to make planning
very effective

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Gant chart for the project
Risk management strategy
New product -development involves a lot of uncertainties and in order to curb such
situations, testing processes are undertaken at various steps. These include the unit, system and
the product testing. After a given concept has been chosen, then concept testing becomes the
next sub-phase. In this phase, a market portion is used in testing the concept so as to aid in the
provision of relevant concerns to be used in gauging the finished-product reception. The
consumers are either be presented with a physical concept or its symbol (Kumar, Luthra,
Govindan, Kumar & Haleem, 2016). For this to be done, the company’s marketing executives
ought to select some limited concepts, giving out a cost –estimation of the selected concepts,
designs estimation as well as their retail -estimated price in addition to obtaining reactions from
consumer.

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RACI Matrix
Stakeholder Management Strategy
Using the stakeholder management-plan, different stakeholders are identified, their roles
and their impacts are well analyzed in order to understand them deeply. The following table
shows an example of how the management plan looks like:

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Conclusion
Due to the existing gaps in the market as well as other reasons, an organization has to
come up with a product which will satisfy the deficit. Therefore, new product-development
ought to be accompanied by creativity of the organizational team so that the process becomes
very innovative for the purpose of gaining acceptability and outdoing competition in the market.

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References
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development alliances: advantages and tensions for incremental and radical innovation.
British Journal of Management, 29(3), pp.391-410.
Calantone, R.J., Di Benedetto, A. and Rubera, G., 2018. Launch activities and timing in new
product development. Journal of Global Scholars of Marketing Science, 28(1), pp.33-41.
Chuang, F.M., Morgan, R.E. and Robson, M.J., 2015. Customer and competitor insights, new
product development competence, and new product creativity: differential, integrative,
and substitution effects. Journal of product innovation management, 32(2), pp.175-182.
Cooper, R.G., 2016. Agile–Stage-Gate Hybrids: The Next Stage for Product Development
Blending Agile and Stage-Gate methods can provide flexibility, speed, and improved
communication in new-product development. Research-Technology Management, 59(1),
pp.21-29.
Cooper, R.G., 2019. The drivers of success in new-product development. Industrial Marketing
Management, 76, pp.36-47.
Cui, A.S. and Wu, F., 2017. The impact of customer involvement on new product development:
Contingent and substitutive effects. Journal of Product Innovation Management, 34(1),
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Di Benedetto, C.A., 2016. New Product Development. The Palgrave Encyclopedia of Strategic
Management, pp.1-4.
Ernst, H., Hoyer, W., Krafft, M. and Soll, J.H., 2017. Virtual Co-Creation with Customers in the
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Fuller, G.W., 2016. New food product development: from concept to marketplace. CRC Press.
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Hakansson, H., 2015. Industrial Technological Development (Routledge Revivals): A Network
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Johnson, J.S., Friend, S.B. and Lee, H.S., 2017. Big data facilitation, utilization, and
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Sattayaraksa, T. and Boon-itt, S., 2016. CEO transformational leadership and the new product
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Appendixes
1. PESTLE analysis
2. Work breakdown structure

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3. Gant chart
4. Risk Management strategy

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5. RA CI matrix
6. Stakeholder management