Product life cycle management (BtB, yearly, technical product platform)

2. Product life cycle management (BtB, BtC) #1 Bundling of product features To include as many new and/or improved product features (sub-projects) in one major product introduction - including product features that are too cost-intensive to market individually - t o maximize the effect on the market of a complete package in particular. Mission To introduce new or improved product features to the market every year in connection with the launch by the sales company of new catalogue, revised prices, terms & trade conditions. 2 By Lars Fleron/2011/Best practice - Learning points

3. Product life cycle management (BtB, BtC) #2 Product features in the near future To give the SCo information about specific new or improved product features at least 2 years ahead which – based on the approved Strategic Initiatives in the Strategic Product Program Plan – need to be developed for a particular product line. Mission To put the planned new/improved product features in question into perspective and create the necessary attention and focus by the SCo on the issues in question. 3 By Lars Fleron/2011/Best practice - Learning points

4. Product life cycle management (BtB, BtC) #3 Buy-in and commitment To deeply involve the sales companies in identifying and ranking customer needs , making market oriented product definitions , evaluating possible product solutions and technical values , assessing the perceived value of both the individual product feature and the combined product feature package for the particular market as a whole. Positive learning point The decision-making process is sort of irreversible – if a decision is challenged its necessary to go one step backwards only in order to pick up the project again. 4 By Lars Fleron/2011Best practice - Learning points

5. Product life cycle management BtB, BtC) #4 Features of principal To facilitate clearing the way among VIP decision-makers in the company based on in-depth product feature & market analyses for the evaluation and decision of product features of principal*. * Product feature which needs to be implemented in order for the company to offer an unique value proposition to the customers and stay ahead of the competition. 5 By Lars Fleron/2011/Best practice - Learning points

6. Product life cycle management (BtB, BtC) #5 Continuous information To keep the sales companies informed on a continuous basis, from the market insight process begins until the market implementation has taken place. Example Establish a project website on the intranet: Sales companies have on-line access to all relevant data about the project (total list of new/improved product features per market or product variant, product program consequences per sales company, communication tools per product feature, technical values per product variant, etc). 6 By Lars Fleron/2011/Best practice - Learning points

7. Product life cycle management (BtB, BtC) #6 Step-wise market introduction To implement new or improved product features in the “upper-end” segment to begin with and then at a later stage to expand these features to the “mass” segment raising the general level of the segment. By that time new and/or improved product features should be developed for the “upper-end mass” segment. Objective To ensure product leadership . To facilitate new or improved product features come to market on a continuous basis (automobile analogy). To capitalize as much as possible on these features for more segments. To enable the company to implement new product features in lower sales volume at a lower risk . 7 By Lars Fleron/2011/Best practice - Learning points

8. Product life cycle management (BtB, BtC) #7 Focus on customers is top of mind The way the product features can be marketed to the end-users, installers, etc are top of mind very early in the product development process. Example Layouts are made demonstrating the benefits and value for the end-user of the new or improved product features. 8 By Lars Fleron/2011/Best practice - Learning points

9. Product life cycle management (BtB, BtC) #8 Easy implementation for sales companies Masters of marketing material are made for easy adaptation and implementation in local, existing or new sales material . Examples Lay-out for end-user material Main brochure spread Photos – close-ups Display for exhibition PR articles 9 By Lars Fleron/2011/Best practice - Learning points