New Product

Vitrox ViE
Development

The best way to get start-up ideas is not to think of

start-up ideas. Instead, one should focus on
problems one has first hand experience with.

New Product Development Models

Undesrtand and observe the market, technology
and the limitations of the problem.
Customers using the product.
Information collected.
Prototype and customer evaluate.
Design changes associated with more
technologically advanced.

Product Marketing Consideration

Idea Generation
Customer, competitors, internal request and top management.
Idea generation and brainstorming.

Idea Screening
Customer in the target market.
Market Size and market size growth.
Market trend.
Technically feasible to manufacture
Target price.

Idea Development and Testing

What benefit will the new product provide?
Cost effectively?
Customers react to the product.

Product Marketing Consideration

(cont)

Business Analysis
Estimate likely selling price base on the competition and
feedback.
Estimate sales volume.
Estimate profitabality and break even point.
Forecast of revenue and profit.

Technical Implementation
New Program intiation.
Competition and alternative competitive technologies
Resource
Engineering operations planning
Supplier collaboration
Program review and monitoring.

New Product Development Process