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Staged Tollgate New Product Process Best Practices - The Global Brand Guy

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This details Rick Steinbrenner's - The Global Brand Guy - expertise in new product development. It discusses best practices using staged tollgate new product development processes and gives two examples on how it can be used.

Rick Steinbrenner - The Global Brand Guy

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Staged Tollgate New Product Process Best Practices - The Global Brand Guy

  1. 1. Staged Tollgate New Product Development Process Best Practices 1 2060 Queensbury Drive Acworth, GA 30102 770-514-9363 rick@globalbrandguy.com Consumer Package Goods Consumer Durables Brand Equity-Building Experience With Leading Global Consumer Brands
  2. 2. 2 Rick Steinbrenner: New Product Development Skills & Experience By Phase Phase I: Opportunity Identification  Competitor marketplace/product review & analyses  New product concept brainstorming – both internal and external  Qualitative consumer research - from informal interviews to focus groups  Quantitative consumer research – from simple concept screens to global conjoint analysis & discrete choice modeling  Syndicated consumer research analyses – Nielsen, IRI, NPD and IMR among others  Functional technology brainstorming experience with engineering and/or research and development functions  Intellectual property reviews and management – both trademarks, patents and licensing agreements  Development of new product design guides and specifications  Critical path timeline development and management  Business proposition development prior to funding requests – including volume/pricing/profitability projections Phase II: Design/Development  Make vs. buy production source evaluations and planning  Capital authorization request development for Sr. management approval  Off-shore production sourcing expertise (Europe, Mexico, Canada, Japan, China and Australia to name a few)  Target product cost development to meet profitability requirements  Advanced manufacturing plant layout/design interface – including production tooling input  Industrial design planning and management  Intellectual property legal filings and development agreements  Consumer in-home use testing verification of product vs. specifications  All facets of marketing planning including but not limited to:  Packaging structure plan  Communications plans - including broadcast TV, direct response TV, print, and online  Channel management strategy and distribution planning  Pricing/discount structures/profitability plans & budgets  Marketing agency interface and management Phase III: Commercialization/Launch  Customer and field sales presentation development  Production planning – to meet customer volume requirements  Customer service briefings – including pricing management  Implementation of marketing plans including but not limited to:  Media placement  Press releases/events  Packaging graphics  Trade marketing collateral from brochures/sell sheets to trade show/industrial video development
  3. 3. “Best Practice” New Product Development Process Overview Phase 1 BusinessTeamReview/Decision Phase 2 BusinessTeamReview/Decision Phase 3 Opportunity Identification Design/Development Commercialization/Launch Major Activities:  Identify new product concepts (sources):  Customer ideas  New functional technologies  Consumer research  Competitive product reviews Brainstorm/develop new concepts Refine & screen new concepts:  Informal customer reviews  Qualitative research (focus groups)  Quantitative concept screen ranking Business Proposition Development:  New product design guide  Technical/engineering feasibility  Develop rough prototype  Pricing/volume/profitability analysis  Intellectual property reviews  Launch timeline - first pass Major Activities: Develop capital authorization request:  Production sourcing plan  Production tooling plan  Finalize launch timeline  Profitability/capital financial plan Pre-production/pilot builds/protection:  Off-tool prototype confirmation  Advanced manufacturing design/scale-up  Intellectual property legal filings Consumer/In -home use testing  Changes to product/positioning as needed Develop marketing plan/budgets:  Packaging structure plan  Communications plans (TV/Print/Online)  Distribution strategy  Pricing/profitability plans & budgets  Final launch timeline – start ship Major Activities: Final sales/customer presentations:  Customer planogram approvals  Confirm year one volumes Production start/warehouse builds:  First piece inspections Year one production requirements Implement pricing – customer service Implement communication plans:  Media placement  Press releases/events  Packaging grapics  Trade marketing collateral Tollgates Note: This process is designed for brand new concepts or risky functional technologies not previously commercialized by a company. Other simpler less “risky” concepts might require less activities or time as shown above. 3
  4. 4. 4 New Product Case: ProFinish Premium Irons Business Situation/Problem:  Current premium product was losing sales and distribution  Product 20+ years old – design/performance lapped by competition  Historical iron consumer purchase and usage behavior not well understood  Company failed on four other occasions to develop a more competitive product Phase I: Opportunity Identification Major Milestones  Redefined consumer behavior segmentation strategy – total iron market  Identified premium ironing purchase/usage behaviors – appearance driven ironers  Completed product design and specifications – including product feature offerings  Developed industrial designs & product line offering by geographic region  Determined business proposition volume/pricing/profitability and timing Phase II: Design/Development Major Milestones  Capital authorization request ($3MM) approved by B&D board  Built off-tool prototype – consumer in home use test verified performance  Confirmed product design for cost effective manufacturing – cost targets met  Set final pricing and discount structures – retail and customer  Developed marketing communications plans and budgets Phase III: Commercialization/Launch Major Milestones  Secured customer planogram approvals and volume commitments  Built up warehouse inventory to meet volume requirements prior to launch  Confirmed product met original design specifications  Launch materials available on time to sales force and media agencies Program Results:  First premium iron to launch comfort grips feature – addressing unmet user need  21 utility and design patents  Voted a Consumer Digest “Best Buy” in 1998  Achieved 100% distribution at mass merchants and specialty retailers  Became a $30MM business from zero – paid out capital investment Maximum Steam Performance:Maximum Steam Performance: No other premium iron steams more Superior Non-Stick Glide:Superior Non-Stick Glide: New space age Soleplate Coatings Comfortably Designed:Comfortably Designed: Comfort Grips & Unique Control Design (New Category Feature)
  5. 5. 5 New Product Case: DuPont Car Care Products Business Situation/Problem:  Tenneco: $6B+ OEM/Aftermarket parts supplier – B2B business model  Current served markets: shocks & struts and emission control - #1 share rank  However, served markets declining due to low service maintenance replacement rates  Core business sales/profitability declining; brand equity poor (e.g. Monroe shocks)  No consistent product development program or process existed prior to 2003 Phase I: Opportunity Identification Major Milestones  DuPont looking for a licensee to re-enter car care market to bolster auto paint line  Tenneco identified new car care “best in class” formulations in a water based format  Identified key heavy user purchase/usage behaviors – appearance driven innovators  Discovered appearance innovator need – “car’s appearance is never how I want it”  Uncovered new Wear Shield friction modifier technologies for performance products  Developed product line design and specifications  Determined business proposition volume/pricing/profitability and timing Phase II: Design/Development Major Milestones  Identified contract manufacturing production sources  Built prototypes – consumer in home use test verified performance vs. competition  Confirmed product design for cost effectiveness manufacturing – cost targets met  Set final pricing and discount structures – retail and consumer  Developed marketing communications plans and budgets Phase III: Commercialization/Launch Major Milestones  Secured customer planogram approvals and volume commitments  Built up warehouse inventory to meet volume requirements prior to launch  Confirmed product met original design specifications  Launch materials available on time to sales force and media agencies Program Results:  Secured distribution in mass merchants, home centers & auto stores (15,000+ outlets)  Introduced Tenneco to Wal-Mart, Lowe’s, Target & Auto Zone as new customers  Introduced 17 new products generating over $5.0MM in sales  Spray Wax, Tire Shine and Wheel Cleaner were top 10 best sellers in NPD rankings Marketing programs included access to DuPont Motorsports with 4 time NASCAR Cup winner – Jeff Gordon
  6. 6. 5 New Product Case: DuPont Car Care Products Business Situation/Problem:  Tenneco: $6B+ OEM/Aftermarket parts supplier – B2B business model  Current served markets: shocks & struts and emission control - #1 share rank  However, served markets declining due to low service maintenance replacement rates  Core business sales/profitability declining; brand equity poor (e.g. Monroe shocks)  No consistent product development program or process existed prior to 2003 Phase I: Opportunity Identification Major Milestones  DuPont looking for a licensee to re-enter car care market to bolster auto paint line  Tenneco identified new car care “best in class” formulations in a water based format  Identified key heavy user purchase/usage behaviors – appearance driven innovators  Discovered appearance innovator need – “car’s appearance is never how I want it”  Uncovered new Wear Shield friction modifier technologies for performance products  Developed product line design and specifications  Determined business proposition volume/pricing/profitability and timing Phase II: Design/Development Major Milestones  Identified contract manufacturing production sources  Built prototypes – consumer in home use test verified performance vs. competition  Confirmed product design for cost effectiveness manufacturing – cost targets met  Set final pricing and discount structures – retail and consumer  Developed marketing communications plans and budgets Phase III: Commercialization/Launch Major Milestones  Secured customer planogram approvals and volume commitments  Built up warehouse inventory to meet volume requirements prior to launch  Confirmed product met original design specifications  Launch materials available on time to sales force and media agencies Program Results:  Secured distribution in mass merchants, home centers & auto stores (15,000+ outlets)  Introduced Tenneco to Wal-Mart, Lowe’s, Target & Auto Zone as new customers  Introduced 17 new products generating over $5.0MM in sales  Spray Wax, Tire Shine and Wheel Cleaner were top 10 best sellers in NPD rankings Marketing programs included access to DuPont Motorsports with 4 time NASCAR Cup winner – Jeff Gordon

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