•Lecture 12 content: We will cover the left-over contents, which I have not

covered in the previous weeks, we will play catch up today. Stay focused .

•Week 13 lecture: There is no lecture in week 13 but there will be workshop and
last tutorial. Remember the tutorial is for Kumari to say proper goodbyes to
everyone and asking her any doubts, you may have for any concept that you
couldn’t understand throughout the semester.

•Week 13 workshop: I will be covering the final exam structure and how it will be
conducted, so make sure, you have enough Red Bull to keep you awake. Don’t
worry about the exam, all I can say, it is manageable, so if you have listened to my
yacking weekly, you will ace and kick me hard 

•Assignment 2: Hope everyone is proceeding well, I am eager to read your work

and let’s see who can “WOW” me. Any questions, hit me up in MS team.
LET’S GET STARTED WITH LEFT
OVER WEEK 7 LECTURE
CONTENT 
 New Product Development Process

The three major activities in new

product development are:
1. Identify product opportunities.
2. Define the product opportunity.
3. Develop the product opportunity.

©McGraw-Hill Education. All rights reserved. Authorized only for instructor use in the classroom. No reproduction or further distribution
permitted without the prior written consent of McGraw-Hill Education.
 Identify Product Opportunities:
Generate New Ideas

Generate new ideas.

©McGraw-Hill Education. All rights reserved. Authorized only for instructor use in the classroom. No reproduction or further distribution
permitted without the prior written consent of McGraw-Hill Education.
 Identify Product Opportunities:
Evaluate Ideas

Screen and evaluate ideas.

• Go-to-market mistake: Firm fails to
keep a bad product idea from moving into
product development
• Stop-to-market mistake: A good idea is
eliminated prematurely

©McGraw-Hill Education. All rights reserved. Authorized only for instructor use in the classroom. No reproduction or further distribution
permitted without the prior written consent of McGraw-Hill Education.
 Identify Product Opportunities:
Prioritize Ideas

Prioritize ideas that pass initial screening and

evaluation.
• Time to market (how long will it take to develop
and get the product to market).
• ROI (what is the expected return for the dollars
invested in the project).
• New product fit with overall company
product portfolio.

©McGraw-Hill Education. All rights reserved. Authorized only for instructor use in the classroom. No reproduction or further distribution
permitted without the prior written consent of McGraw-Hill Education.
 Define the Product Opportunity

Define the product opportunity.

• Define and test the product concept.
• Create a marketing strategy.
• Analyze the product’s business case.

©McGraw-Hill Education. All rights reserved. Authorized only for instructor use in the classroom. No reproduction or further distribution
permitted without the prior written consent of McGraw-Hill Education.
 Define and Test the Product Concept

Define and test the product concept.

• Product definition objectives:
• Define the value proposition.
• Identify the target market and purchase
frequency.
• Delineate the product characteristics: Look, feel,
physical characteristics, features

©McGraw-Hill Education. All rights reserved. Authorized only for instructor use in the classroom. No reproduction or further distribution
permitted without the prior written consent of McGraw-Hill Education.
 Create the Market Strategy

Create the Marketing Strategy

©McGraw-Hill Education. All rights reserved. Authorized only for instructor use in the classroom. No reproduction or further distribution
permitted without the prior written consent of McGraw-Hill Education.
 Conduct Business Case Analysis

Conduct Business Case Analysis

• Total Demand
• New purchases
• Repeat purchases
• Replacement purchases
• Profitability Analysis
• Long- and short-term analysis

©McGraw-Hill Education. All rights reserved. Authorized only for instructor use in the classroom. No reproduction or further distribution
permitted without the prior written consent of McGraw-Hill Education.
 Develop the Product

Develop the Product

• Product testing: alpha and beta
• Test the market
• Consumer product market tests
• Business product market tests
• Product launch

©McGraw-Hill Education. All rights reserved. Authorized only for instructor use in the classroom. No reproduction or further distribution
permitted without the prior written consent of McGraw-Hill Education.
 Consumer Adoption and Diffusion Process

Consumer Product Adoption Process

• Innovation diffusion process is how long it takes a
product to move from first purchase to last purchase
(the last set of users to adopt the product).
• An individual moves through five stages before
adopting a product.

©McGraw-Hill Education. All rights reserved. Authorized only for instructor use in the classroom. No reproduction or further distribution
permitted without the prior written consent of McGraw-Hill Education.
 The Diffusion of Innovations

©McGraw-Hill Education. All rights reserved. Authorized only for instructor use in the classroom. No reproduction or further distribution
permitted without the prior written consent of McGraw-Hill Education.
NOW LEFT OVER WEEK 11
LECTURE CONTENT 
 Search Engine Optimization

SEO implies the different actions companies take to

maximize the placement of their digital assets in
relevant search engine results.
Being displayed near the top of searches increases the
chance of being found by potential customers and
strengthening ties with existing ones.
 Mobile Marketing

Mobile marketing, or the marketing of value offerings

through a mobile communications device, is a central
aspect of digital marketing strategies.
Primarily useful with smartphones and tablets.
Ads designed for small screens have challenges.
Most companies create separate websites that are mobile-
friendly.
M-commerce is key to the customer experience so
marketers need to work with IT to make meet
expectations.
 Location-Based Targeting

Geo-location marketing is the use of geographic

data to drive marketing messaging and other
marketing management decisions.
• Provides promotions when users are nearby a
storefront or get them to return.
• Can offer in-store promotions while shopping.
• Knowing the customer’s location can improve
satisfaction by providing real-time service (e.g., getting
food ready for the right time the buyer arrives).
 Text Messaging

SMS or short message service.

Used for instantly redeemable promotional offers,
contest voting, sweepstakes participation,
informational alerts, and many other real-time offers.
Simple to develop and use.
Make sure to have an opt-out or opt-in function.
Don’t become intrusive.
 Branded Mobile Apps and
In-App Based Ads

Branded mobile apps display the brand’s name and

logo.
Mobile game apps, social media apps, and non-
branded productivity apps offer opportunities for
communication.
In-app ads or ads displayed within an app are
another tool for marketers.