Product Development
&
Competitive Analysis
Product Development
Design>Manufacture>Distribute>Sell
GM VISION
To Design, Build & Sell the World’s
Best Vehicles
http://www.gm.com/toolbar/careers
/overview.html
The ultimate success
of a business is
dependent on finding
what consumers
need and then
developing a product
or service that will
meet that need
without high cost.
Product Development Process
• Path from initial concept to finished product
• Goal: high quality & efficiency at the lowest cost
• Evaluate all options and select accordingly
Idea
Design
Build
Develop
Release
Product Development Process:
Broken Down
• Idea: Assess market and available opportunities
to select the best idea. Find people to provide
feedback for product idea/design.
• Design: Test idea to assure that it is appealing to
customers. Begin designing for manufacturing
and assembly.
• Build: Build prototype – an actual sample of the
finished product
• Develop: Production stage, train employees in
manufacturing & assembly process. Test /
Inspect product for flaws/errors.
• Release: Finally, launch the product! Make it
available to be distributed on a widespread level!
Chevy Volt
Concept
Production
Chevy Camaro
Concept
Production
Corvette Stingray
Concept
Production
GM’s GVDP
http://communicator.gm.com/v6/sites/featu
res/2013/gvdp/
General Motors
• No amount of research is too far-fetched for
product design! GM designers studied
human physiology (backsides) to design the
most comfortable vehicle seats for the 2013
Malibu.
General Motors
• GM vehicle manufacturing facilities:
– Stamping, Powertrain, Assembly
• General Motors Marion Metal Center
processes sheet metal that gets
assembled into vehicles.
– An inside look at Marion’s plant.
Competitive Analysis
Studying your Competitors & Industry
What Is An Industry?
• A group of businesses that do similar
things—they compete with each other
• Example - Athletic shoe industry: Nike,
Adidas, Reebok, New Balance, Puma
• Within the industry there are groups of
customers called markets, specifically
consumer markets—individuals who
buy retail products or services
What Is An Industry, Con’t
• Within Consumer Markets are Market
segments:
– Groups of people with similar qualities
that influence what they buy.
– Example:
• Demographics: age, gender, income
• Geography: region, climate, city size
• Psychographics: lifestyle, activities,
interests
• Your business must find a niche—an
unmet need—something beyond what
competitors are providing.
GM Confidential
1
Target Markets
Millennials
• Consumers, ages 25 and
under
• Looking for a vehicle with
a sporty design and the
features they need
• Technology Savvy
Value-Focused Consumers
• Focused on great value
for a low price
• Conscious of high MPG
KEY MESSAGES
 The most fun with 40 mpg
 Youthful personality with an aggressive, sporty
design inside and out
 Segment leader in interior roominess and
versatility
 A safer small car with class-leading 10 standard air
bags
 Connectivity that enhances the functionality and
fun
Defining Your
Competitive
Position:
The SWOT
SWOT Analysis
• Strengths: how is your proposed
business secure?
• Weaknesses: where might your
business be insecure?
• Opportunities:
how
can
your
business grow and expand?
• Threats: what could hinder your
business’s success?
Strengths
Weaknesses
Opportunities
Threats
SWOT Analysis
Strengths:
Weaknesses:
•
•
•
•
•
•
Opportunities:
Threats:
•
•
•
•
•
•
Things To Know
About Your Industry
• History
– Established or new?
– Expanding or shrinking?
– Profits increasing or decreasing?
• Changes In Your Target Industry
– Has it changed recently?
– Where is the industry going?
– How has technology impacted it?
• What are Needs Within the
Industry?
Competition In Your Industry
• Nature Of Competition
– Define the Competition
• Direct/Indirect/Future
– Identify your major competitors
• Search Engines:
Google/Bing/Etc.
• Indiana Resources
Resources
• INSPIRE - Indiana's Virtual Library
www.inspire.in.gov
• Combo of academic, public, school and special
libraries of Indiana
• “Full range of commercial databases and other
electronic resources to support the educational,
cultural, personal and economic interests of
Hoosiers”
Resources
• US Dept. of Labor Workplace Statistics
– www.dol.gov/dol/stats.htm
• First Research: Leading provider of
Industry Intelligence tools
– www.firstresearch.com
• US Census Bureau: demographic info
– www.census.gov/econ/index.html
The 3 P’s
Be:
Positive
Passionate
Persistent