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Greetings,
The
Innovator’s Toolkit
is a new, valuable bi-monthly newsletter that will help
product professionals and executives improve
pre-development activities and launch new products
faster—and more
successfully than ever before. Each issue offers
concise, practical pre-development tools to assist you
in accelerating new
product discovery,
assessment, decision-making and planning.
Have an idea or
topic of interest for a future article?
Please tell
us about it.
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THIS ISSUE |
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"succeed”
at
New
Products
– A 7-Point
Checklist
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“To
be prepared is half the victory.”
—Miguel
de Cervantes Saavedra – Spanish writer, author of
the masterwork 'El quijote', 1547-1616)
Innovation
is all the rage. But what determines the difference
between successful innovation and merely being
innovative? The Apple Newton was clearly innovative,
but not a successful innovation. The Apple IPOD is
clearly a successful innovation. In fact, according
to the PDMA and others, 50% of new
products launched
each year fail, many of which will be considered
“innovative”. Is there a way to beat these odds
and always launch profitable innovations?
While
only history can validate that a product is a
profitable innovation, there are techniques that can
help insure an innovation
success. SUCCEED is a 7-point management
checklist to determine if you’ve done your
homework to pass your next new product success test.
The next time you are considering a new product or
market venture, gather your management team and
discuss these seven points.
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| 30-Second
Briefing |
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 Q:
We’re launching a new product that is a tool
used in our customers’ manufacturing process. We
believe, based on our latest research with
customers, we need to change the core marketing
messages and the way we sell the product. How do
we get the sales team to adopt this new messaging?A:
Change is always difficult in any part of
the organization. As
with bringing any new practice into the
company, your success will rely on creating small
successes and building from there. Here are some things to think
about as you work with your sales team in getting
this new product launched...
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| Oregon
PDMA
Launched! |
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We are pleased to announce the launch of the
Oregon Chapter of the Product Development and
Management Association (PDMA). Oregon PDMA is the
newest chapter of the PDMA, an international organization with
23 chapters and over 2500 members. Oregon PDMA provides new networking and
skill-advancing opportunities for professionals in
product management, marketing, and other product
development functions across multiple industries.
Planning Innovations Group is proud to be a founding
sponsor and has been active in forming and launching
the new Chapter.
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Welcome
New Subscribers!
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Welcome
again to The
Innovator's Toolkit and a special welcome to our
new subscribers!
In this issue, we discuss a new product launch
checklist. This isn’t a tactical checklist that is
typically associated with a product launch such as
“do we have a marketing plan”. This 7-point
checklist, using the acronym, SUCCEED, provides
strategic questions your team should ask before
committing to any opportunity and helps you improve
your rate of new product success.
We
are also pleased to announce the launch of the
Oregon PDMA. See the associated article,
or go to www.oregonpdma.org
for more info.
As
always, please feel free to contact
us
anytime to let us know what topics you’d like to
see addressed or questions you’d like us to
answer. Your input is valuable, and we always look
forward to hearing from you.
Best
regards—and good luck,
Dorian
Simpson
Managing
Director
Planning
Innovations Group
Find
out more about Planning Innovations...
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