Capstone Presentation

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Information about Capstone Presentation
Technology

Published on February 2, 2009

Author: dlaboyrush

Source: slideshare.net

Description

Cascade Microtech Enters New Market

Case Study: Neptune Project Cascade Microtech Applies its Measurement Technology to a New Market Resulting in Discontinuous Innovation EMGT 590 Synthesis Portland State University Diana Laboy-Rush

Agenda Introduction Methodology Case Study Findings Recommendations Lesson & learn Discussions and Questions

Introduction

Methodology

Case Study Findings

Recommendations

Lesson & learn

Discussions and Questions

Introduction Purpose: To analyze real world project to apply strategic management principles Why Cascade Microtech? This project represents a significant organizational effort in business growth. Case Study Subjects Product Marketing Manager Life Sciences Sales Manager Advanced Development Manager Director of Marketing Director of Advanced Development

Purpose: To analyze real world project to apply strategic management principles

Why Cascade Microtech?

This project represents a significant organizational effort in business growth.

Case Study Subjects

Product Marketing Manager

Life Sciences Sales Manager

Advanced Development Manager

Director of Marketing

Director of Advanced Development

Methodology Grounded theory Case study method Interview approach Steps of applying grounded theory Getting started Selecting the case study Crafting instruments and protocols Entering the field Analyzing within-case data Searching for cross case pattern Enfolding the literatures

Grounded theory

Case study method

Interview approach

Steps of applying grounded theory

Getting started

Selecting the case study

Crafting instruments and protocols

Entering the field

Analyzing within-case data

Searching for cross case pattern

Enfolding the literatures

Case Study Findings Project Description Project Characteristics Business and Opportunity Analysis Success Measures Marketing Strategy / Implementation of Project Project Organization Tools Pre Project Learning Success factors Major problems

Project Description

Project Characteristics

Business and Opportunity Analysis

Success Measures

Marketing Strategy / Implementation of Project

Project Organization

Tools

Pre Project Learning

Success factors

Major problems

Project Description and Characteristics Product Description and History Project Motivation Product Vision and Definition

Product Description and History

Project Motivation

Product Vision and Definition

Project Description The project goal is Cascade wants to expand core business to the new market. Current market Semiconductor wafers Printed circuit boards Micro electro-mechanical system (MEMS) New Market Life Science Micro-fluidics technology

The project goal is Cascade wants to expand core business to the new market.

Current market

Semiconductor wafers

Printed circuit boards

Micro electro-mechanical system (MEMS)

New Market

Life Science

Micro-fluidics technology

Project Motivation Raising company revenue $1 Million this year Attacking their competitor’s positions in new market Rapid product development process This project will be a key for cascade to open the new market

Raising company revenue $1 Million this year

Attacking their competitor’s positions in new market

Rapid product development process

This project will be a key for cascade to open the new market

Product Vision and Definition Product vision and definition was unclear in the initial stage. Right now, they’re clear, but not complete with the long term vision. Process to find out product vision and definition Correct the information (Talking to experts) Study about this technology by attending workshops, seminars and studying text books and articles Gathering customer needs and customer feed backs BETA product will help Cascade to clarify the product vision and definition

Product vision and definition was unclear in the initial stage. Right now, they’re clear, but not complete with the long term vision.

Process to find out product vision and definition

Correct the information (Talking to experts)

Study about this technology by attending workshops, seminars and studying text books and articles

Gathering customer needs and customer feed backs

BETA product will help Cascade to clarify the product vision and definition

Business and Opportunity Analysis 3 main areas for analyzing the business opportunity Customer need Technology Market size

3 main areas for analyzing the business opportunity

Customer need

Technology

Market size

Business and Opportunity Analysis Results Source: Cascade Microtech, 2005 MEMS Microfluidics Drug discovery Point of care Diagnostics Ink jet Environmental Unarmed aerial vehicles Microarray / Microdispensers Micro-thermal & micro-propulsion Clinical diagnostics Currently, life science applications represent about 10 - 15% of the microfluidics market, growing to 50% in 2008. Fuel cells BioMEMS Ecology

Project Phases Planning Phase Objective: Feasibility & target ROI, Market Requirement (MRS) Concept Phase Objectives: Product Specifications, Marketing Playbook Prototype Phase Objectives: Prototype Units Beta Phase Objective: Customer Validation and Testimonials Release Phase Objective: Sales, Profit, Credibility in Life Sciences Advanced Development Engineering Marketing Sales Jan 04 Mar 04 May 04 July 05 Aug 05 Source: Cascade Microtech, 2005

Project Organization Managing in a New Market Advanced Development Group History of project stemmed from this group “…chartered with looking at long range new business opportunities, technology opportunities.”

Managing in a New Market

Advanced Development Group

History of project stemmed from this group

“…chartered with looking at long range new business opportunities, technology opportunities.”

Success Measures Metrics for Success Risk Factors

Metrics for Success

Risk Factors

Metrics of Success Brand Equity in new market Grow Business Revenue of $1 Million within 6 months Rapid Product Development Process Credibility in new market Open door to new customer base Sales, Profit, etc. Marketing Advanced Development

Brand Equity in new market

Grow Business

Revenue of $1 Million within 6 months

Rapid Product Development Process

Credibility in new market

Open door to new customer base

Sales, Profit, etc.

Risk Factors Unknown Market Characteristics Unknown Technology High Switching Costs Low Barrier to Entry Wrong Target Market Wrong Feature Set Manufacturing Process Marketing Advanced Development

Marketing Strategy and Implementation of the project Customer value proposition Competition and current offerings Response expected from launch Weakness of the product Incorporating Customer Needs

Customer value proposition

Competition and current offerings

Response expected from launch

Weakness of the product

Incorporating Customer Needs

Customer Value Proposition COMMUNICATION External Communication Understanding the Customer Needs & Problems Internal Communication Between Departments of the Company

COMMUNICATION

External Communication

Understanding the Customer Needs & Problems

Internal Communication

Between Departments of the Company

Competition & Current Offerings No Similar Product in the Market Substitute Systems are More Expensive Discontinuous Innovation (Breakthrough Technology) Integrated Solution Current Offerings Destructive and Inflexible

No Similar Product in the Market

Substitute Systems are More Expensive

Discontinuous Innovation

(Breakthrough Technology)

Integrated Solution

Current Offerings Destructive and Inflexible

Response Expected From Launch Optimistic Outlook Hot Topic of the Year (A lot of Interest) Converging Semiconductor Technology & Biological Application Another Perspective (Success) Strategic Partnerships Conscious Perspective From “Not too much” to “A whole lot”

Optimistic Outlook

Hot Topic of the Year (A lot of Interest)

Converging Semiconductor Technology & Biological Application

Another Perspective (Success)

Strategic Partnerships

Conscious Perspective

From “Not too much” to “A whole lot”

Weakness of the Product New Product to an Emerging Market Product will offer one-way solution Company is inexperienced in the market Doesn’t perform any electrical measurements

New Product to an Emerging Market

Product will offer one-way solution

Company is inexperienced in the market

Doesn’t perform any electrical measurements

Incorporating Customer Needs No new versions of product for six months Every customer is going to get follow up Beta Customer Feedbacks No Microfluidics Application Engineer

No new versions of product for six months

Every customer is going to get follow up

Beta Customer Feedbacks

No Microfluidics Application Engineer

Tools Trade shows, online information, online newsletter, blog…. Release Beta-site Beta W ebinar Prototype MRS template, marketing playbook Concept Bass Diffusion Model , Researches Planning Approach Project Phase

Example – Bass Diffusion Model Source: Cascade Microtech, 2005 Bass Diffusion Assumptions Industry socket count 700 Academic socket count 400 Institute socket count 200 Government socket count 100 ASP $100K Only based prober solution based 100% new market penetration

Bass Diffusion Assumptions

Industry socket count 700

Academic socket count 400

Institute socket count 200

Government socket count 100

ASP $100K

Only based prober solution based

100% new market penetration

MRS Components Project Background: This included sections on the project objectives and product needs. Primary Customer / Market Needs: This includes definition of the target customer and the specific market needs. Market Characteristics: This section outlines the market segments and competition for the product. Product Specifications: This section defines specific product requirements, certification requirements, product packaging, and pricing. Product Timing: This includes market sizing data and product forecasting.

Project Background: This included sections on the project objectives and product needs.

Primary Customer / Market Needs: This includes definition of the target customer and the specific market needs.

Market Characteristics: This section outlines the market segments and competition for the product.

Product Specifications: This section defines specific product requirements, certification requirements, product packaging, and pricing.

Product Timing: This includes market sizing data and product forecasting.

Pre Project Learning New Learning Learn from mistakes New market knowledge Learn from competitors Documentation and sharing MRS Playbook Meeting Minutes Trip Report

New Learning

Learn from mistakes

New market knowledge

Learn from competitors

Documentation and sharing

MRS

Playbook

Meeting Minutes

Trip Report

Success Factors It is impossible to know what are the success factors at this time. Providing the right product – setting the beta site Tools– forecasting and searching Effective cross functional team– right people in the right positions Promotion strategies– Trade show, online, direct mail, newsletter Finding the right partner –sale channel

It is impossible to know what are the success factors at this time.

Providing the right product – setting the beta site

Tools– forecasting and searching

Effective cross functional team– right people in the right positions

Promotion strategies– Trade show, online, direct mail, newsletter

Finding the right partner –sale channel

Major Problems Major problem Finding the right sale channel Technical problem Major change A lot of changes Entering the new market and compress project schedule

Major problem

Finding the right sale channel

Technical problem

Major change

A lot of changes

Entering the new market and compress project schedule

Recommendations Exit Strategy Niche Market Strategy Strong sales channel

Exit Strategy

Niche Market Strategy

Strong sales channel

Lessons Learned - 1 Clear Product Definition is not necessary at project initiation 3 main project motivations Grow the business Attacking competitors Improve internal processes Business opportunity analyzed in three areas Customer needs Market analysis Technology analysis

Clear Product Definition is not necessary at project initiation

3 main project motivations

Grow the business

Attacking competitors

Improve internal processes

Business opportunity analyzed in three areas

Customer needs

Market analysis

Technology analysis

Lessons Learned - 2 Rapid Product Development blurs the transition of project phases (concurrent engineering) Biggest risk factor = unknowns Strategic partnerships critical for discontinuous innovation Customer Value Proposition is the value of the solution from the customer's perspective.

Rapid Product Development blurs the transition of project phases (concurrent engineering)

Biggest risk factor = unknowns

Strategic partnerships critical for discontinuous innovation

Customer Value Proposition is the value of the solution from the customer's perspective.

Discussions and Questions

Discussions and Questions

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