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1、 Sakari Luukkainen,Technological change,Market change,Standardization,Productization,Marketing,R&D,TechnologyAssessmentand Forecasting,MarketAssessmentand Forecasting,Innovation process,Sakari Luukkainen,Michael E.McGrath:Product Strategy for High Technolgy Companies Amazon et al 35,Sakari Luukkaine
2、n,Content,Vision and StrategyProduct Platform StrategyProduct Line StrategyLeveraged ExpansionSustained DifferentiationProduct PricingFirst-to-Market vs.Fast-Follower StrategyGlobal Product StrategyCannibalizationGrowth Through AcquisitionProcess of Product Strategy,Sakari Luukkainen,Strategic Visio
3、n,Everything in a company should be done for purpose,which is to make money,to make money company needs products and/or services,to know what they are there should be a direction which is defined in a strategic vision Good strategic vision has focus,clarity,completeness,feasability Where does compan
4、y want to go,how will it get there,why will it be successful?,Sakari Luukkainen,How Vision Guides Strategy,Directing technology strategy Defining core competence Focusing the efforts of identifying new product opportunities Setting expectations for customers,employees and investors Establishing a fr
5、amework for product platform strategy,Sakari Luukkainen,Product Platform Strategy,Platform is an architecture of the common elements implemented across a range of productsKey elements in the platform represent defining technologyDictates life cycle,capabilities,limitationsBased on core competenceDif
6、ficult to copy by competitorsThe choice if defining technology is perhaps the most critical strategic decision that a high tech company makes,Sakari Luukkainen,Product Platforms,Element A,Element B,Element C,Segment A,Segment B,Segment C,Common platformDefining and supporting technology elements,Uni
7、que segmenting elements,common channel elements,Sakari Luukkainen,Benefits of Platform Strategy,Focuses management on key decisions at the right timeEnables rapid&consistent product developmentEncourages a long-term view on product strategyDominant design position achievement Resource and channel sy
8、nergies parallel cost and differentiation advantageCan leverage operational efficienciesR&D costs reuse Manufacturing costs economies of scaleMakes marketing and support easier segmentation and channel reuse more value by decreasing unit cost,Sakari Luukkainen,Product Line Strategy,A time-phased pla
9、n for developing products from a common platform,each product targeting a specific market segmentThe true potential of a platform strategy is extracted with an effective product line strategyCovers all primary targeted market segmentsEach product offering should be sufficiently focusedTime-phased sc
10、heduling/sequencingall products cannot be released simultaneouslypriorizationSimilar products/product lines are coordinatedTo avoid rework and confusion in marketing and among customers,Sakari Luukkainen,Based on what customers are trying to do with product or who is customer Based on differentiatio
11、n High-end version first and then low-end by subtracting value from it New features first to high-end,then diffuse to low-end as competitive upgrades Three versions is a good default choice,most revenue from the middle version Creation of metrics for continuous evaluation of product profitability,Se
12、gmenting Products,Sakari Luukkainen,Leveraged Expansion,Case studies show that:The success of expansions to new product markets depends highly on ability to leverage:Existing market knowledgeTechnical skills,Sakari Luukkainen,Leveraged Expansion(contd.),Existing Platform Management,New Segments,Leve
13、raged Expansion Strategies,Diversification,Sakari Luukkainen,Sustained Differentiation,ICT products cost of production is dominated by the“first-copy R&D costs”,and cost of distribution is fallingThis cost structure leads to substantial economies of scale without capacity constraintsCompetitive forc
14、es tend to move the price toward marginal costA vector of differentiation enables sustained competitive product differentiation by continuous incremental innovation along as specific path with distinct benefit or value propositionPositions,segments,evolves through life cycleDifferentiation as vector
15、 not point,product roadmap,Sakari Luukkainen,Relative positioning,Sakari Luukkainen,High-Tech Differentiation,Unique featuresMeasurable benefitsEase of useImproved productivityProtecting the customers investmentLower cost of product failureHigher-performance productsUnique fundamental capabilitiesDe
16、signStandardsTotal solutionsTotal cost of ownershipBrandConvenience,Sakari Luukkainen,Risks of differentiation,Not sustainedInsufficient proximity to priceCustomer preferences misunderstoodHigh costUnfocusSubsegmenting the marketEmerging technologyPerception of differentiation,Sakari Luukkainen,Prod
17、uct Pricing,OffensiveEstablish price leadership as the basis for competingPenetration pricing to increase the marketExperience-curve pricing to discourage competitionCompete of price/performancePromotional discountingDefensiveAdapt to maintain highest competitive priceUse price to segment the market
18、Skim pricingValue-based pricingRedirect product line sales by bait-and-switch pricing,Sakari Luukkainen,Product Pricing,Risks of offensive pricingprice leadership not sustainableprice warno supporting cost advantageSources of cost advantagedesigneconomies of scalesupply chainsuperior techologyR&D pr
19、ocessglobal scale,Sakari Luukkainen,Advantages of Being First to Market,Market share advantageEarlier experienceInfluence to standards,Sakari Luukkainen,Advantages of Being the Fastest,Nearer in time to the marketGet ahead and stay aheadCan user newer technology,Sakari Luukkainen,First-to-Market Str
20、ategies Be the first to upgrade products with new technology Respond rapidly to market changes Introduce continual product innovation Be the first to create a new marketFast-Follower StrategiesWait until a new market is clarifiedReverse-engineer successful competitive product,Sakari Luukkainen,Enter
21、ing the market prematurelyCompressing product lifecyclesRelying on an inferior product development process,Risks of Timing Strategies,Sakari Luukkainen,Global Product Strategies,Develop products uniquely for country marketsLeverage country-specific productCustomize global product platformDevelop uni
22、versal global product,Sakari Luukkainen,Cannibalization,Causes of Unfavorable CannibalizationNew product creates less profitsNew product requires siginificant retoolingGreater technical risksOffensive StrategiesAttack market leaderIntroduce new technology firstDefensive StrategiesCannibalize yoursel
23、f before competitorsContinue as technology leaderPricingSpecific market segments,Sakari Luukkainen,Growth through Acquisition,Acquire product platform to expand into new marketAcquire technology and technical skills to develop new product platformAcquire market and channel expertise to enter new mar
24、ketAcquire a competitor to strengthen a current market positionAcquire a company with the capability to diversify into new market,Sakari Luukkainen,Strategic Balance Trade-offs,Focus vs.diversificationShort vs.long termCurrent vs.new platformOne business unit vs.anotherResearch vs.developmentHigh vs.low riskFinancial return,Sakari Luukkainen,Process of Product Strategy,
