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Successful Product Development Quick Overview What does it take to develop a new product idea and develop successful product?
3 Parts of Effective Product Differentiation How to Successfully Differentiate your Products and Services Properly defined product differentiation is vital to allowing your company to take full advantage of everything that it has to offer and reach its best potential. Simple Approach to Developing New Products & Services New Product Development is about creating New Product s which will create value for your customers. The Ansoff Matrix tool is used for planning and analysis of business growth and development alternatives. Product Life Cycle model divides the life cycle of products into five stages: development, introduction, growth, maturity, and decline. Product Life Cycle model represents a valuable framework to be used in strategic marketing planning. This free Product Life Cycle curve for PowerPoint presentations is a nice presentation template that you can download to make presentations on product life cycle phases including introduction, growth, maturity and decline. This free Product Life Cycle template can be used on presentations on Product Lifecycle Management (PLM). Inside the free PowerPoint template you will find a nice Product Life Cycle curve design created with PowerPoint shapes and editable text boxes to enter your own text. PowerPoint® is registered trademark of Microsoft Corporation and this site do not have any relationship with Microsoft Corp. Illinois Synth was formed directly as a result of the collaboration of members from the 2012 University of Illinois iGEM Team. Illinois Synth’s manufacturing and laboratory facilities and equipment are all serviced regularly to maintain the highest performance standards consistent with aseptic technique. The management team of six executives will look to conduct research and development independent of other employees for the first three quarters of company growth. The global synthetic biology market is estimated to grow to $4.5 billion over the next three years. Competitors to IOPiC include alternative ways to produce piceatannol, which currently only take the form of chemical synthesis by companies such as Sigma-Aldrich, Santa Cruz Biotech, and Tocris Bioscience. Indirect competition to the field of synthetic biology as a whole is high, given other technologies that have been around for decades. Illinois Synth expects that its products, particularly IOPiC, its piceatannol-production cascade will require a substantial amount of developmental effort. Our marketing team will make contact with academic universities institutions that are involved in Synthetic Biology research. Next, the company will look to enter into distribution agreements for the registration and sales of its products in the United States, and eventually foreign countries. Illinois Synth will also actively pursue online advertising, advertise our products at biotechnology oriented trade shows, and release a monthly newsletter to keep potential and current customers updated about product developments. The GEM toolkit will be developed around the features of the Pumilio and FBF homology (otherwise known as PUF) protein domain of the human PUM1 gene. IOPiC is in essence an enzymatic conveyer belt, combining the functionality of the programmable PUF protein with a designer RNA scaffold, to achieve the low cost, and efficient production of the compound piceatannol, a compound that inhibits the process of adipogenesis, or fat-cell formation. Obesity is today one of the leading preventable causes of death worldwide, and given the recent discovery of piceatannol’s anti fat cell properties, we foresee demand for efficient, low cost, piceatannol production by research labs, and eventually pharmaceutical companies to increase dramatically over the next decade.
The GEM toolkit will be used to tether PUF domains on the RNA scaffold to the TAL, 4CL-STS, and BM3 enzymes as shown in Figure 3.
Tests conducted by our team of engineers have proven the ability of PUF to tether to an endonuclease functional domain to facilitate gene silencing. Illinois Synth will have the policy of using patents, trademarks, and trade secrets to protect the results of its research and development activities and, to the extent it may be necessary or advisable, to exclude others from appropriating its proprietary technology.
Illinois Synth has stringent policies and procedures for ensuring that all intellectual property is protected prior to any public disclosure of new products or technologies. Governmental trials or marketing of Illinois Synth’s biological-microorganism-based products may expose the company to liability claims from the use of the products. Product information materials will be put in place explaining proper use and efficacy of direct sale merchandise.
Illinois Synth will look to establish a reputation within the Synthetic Biology industry as a company with the highest quality products, based on research backed by demonstrable results. Illinois Synth will issue a full refund for products that do not perform as per their specifications, when returned with a written description of the customer concern. Illinois Synth’s research findings will be published in scientific and trade journals as IP protection is put in place on new technologies and developments. In order to maintain the highest profitability, the following pricing strategy shown in Figure 1 will be used to stay consistent with the life cycles of each product.
Illinois Synth will offer discounts to academic and research institutions in order to receive feedback on existing products, and make necessary improvements before sale to industrial manufacturers. Illinois Synth’s management board is made up of executives from a variety of scientific, engineering, and business backgrounds. Adi is a third year undergraduate junior in Bioengineering at the University of Illinois, and was the 2012 UIUC iGEM team’s corporate director. Uros is a fourth year student in Molecular & Cell biology at the University of Illinois. Isiah is a second year student in Agricultural and Biological Engineering at the University of Illinois.
80 percent of the equity of Illinois Synth is distributed equally among the members of the management board, as seen in Figure 1. Given the worldwide demand for gene expression regulators, and the forecasted demand for piceatannol as a research tool to address obesity as a global disease, Illinois Synth is projecting increasing profitability from 2015 on. As with any synthetic biology enterprise, there are numerous risks associated with generating profitable sales for Illinois Synth.
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Sales Volumes Peak: After the steady increase in sales during the Growth stage, the market starts to become saturated as there are fewer new customers. Decreasing Market Share: Another characteristic of the Maturity stage is the large volume of manufacturers who are all competing for a share of the market. Profits Start to Decrease: While this stage may be when the market as a whole makes the most profit, it is often the part of the product life cycle where a lot of manufacturers can start to see their profits decrease. Continued Reduction in Costs: Just as economies of scale in the Growth stage helped to reduce costs, developments in production can lead to more efficient ways to manufacture high volumes of a particular product, helping to lower costs even further.
Increased Market Share Through Differentiation: While the market may reach saturation during the Maturity stage, manufacturers might be able to grow their market share and increase profits in other ways.

The Maturity stage of the product life cycle presents manufacturers with a wide range of challenges. The Stages ExplainedProduct Life Cycle StagesAs consumers, we buy millions of products every year. Developing ProductsNew Product Development StagesBefore a product can embark on its journey through the four product life cycle stages, it has to be developed.
Real Life ExamplesProduct Life Cycle ExamplesMost consumers probably aren't aware of the product life cycle stages. The product life cycle goes through multiple phases from its introduction into the market to its disappearance form the market. May enter directly to decline phase from growth phase and disappear within a short period of time.
The product life Cycle is mainly divided into 4 phases based on the sales, growth and profit of the product. Brands have shorter PLC’s than the actual products but they can be restructured very easily by using the existing brand image (i.e. Different marketing strategies are followed for different phases of Product Life Cycle (PLC).
When it comes time to start advertising a new product, you don’t just want it to take a tiny hop. Each type of the product goes through all of these stages; however, the duration of each stage depends on a wide range of factors such as the nature of the product, its price, the level of competition in the industry, overall economic climate etc.
Namely, with the application of the model marketing managers are able to forecast the life cycle of their products, and introduce necessary reflections within relevant marketing strategy. We are an independent website offering free presentation solutions and free PowerPoint backgrounds for presentations.
The company corporate headquarters and principal product development facility will be located at the University of Illinois Urbana-Champaign’s Institute for Genomic Biology. Additional capital equipment is projected subsequent to product release to utilize capacity and meet sales demand.
Future expansion in the fourth quarter and beyond will require several production and sales personnel. This is due to major developments in biomedicine, pharmaceutical drug synthesis, energy and environmental research, biomaterials, nanotechnology, and biosecurity. In the specific niche market within which Illinois Synth is positioned, however, such competition is negligible, because of the inability of non-biological tools to regulate micro-scale biological processes such as gene expression. Proteins with higher binding specificities with a great degree of customizability would render our GEM Toolkit obsolete. This will likely be done by leveraging connections to members and advisors of iGEM teams at some of these academic institutions. These distribution agreements will take the form of contracts with research labs at biotechnology firms, as well as certified manufacturers of chemical compounds such as Sigma-Aldrich.
PUF proteins are found in most eukaryotes, and have the unique ability to be programmed to recognize any 8 nucleotide ssRNA sequence. The reason piceatannol was chosen as the compound of interest was due to a study conducted at the Kee-Hong Kim lab at Purdue University.
Illinois Synth has also tethered the PUF protein domain to split GFP to test its ability to co-localize proteins using a RNA scaffold.
Additionally, studies by the Pamela Silver group at Harvard University have successfully demonstrated the utility of an RNA scaffold to catalyze H+ production. While the proof of concepts for our products has been established, additional research is required to produce functioning prototypes of the GEM Toolkit and IOPiC. That being said, the company's policy is to advance the progressive of synthetic biology by making its products available at competitive prices, collaborating with universities and academic institutions to further research and development, and providing discounts and sponsorships to research groups that may benefit from our technologies. This will take the form of lab protocols, safety instructions, brochures, and contact information for any problems and complaints. The company will provide a toll-free number for both technical information and customer service assistance.
The unit maximization phase, immediately following commercialization, will provide products to consumers at a low rate, to maximize the availability of Illinois Synth’s technologies within the synthetic biology and pharmaceutical industries.
Introductory offers will be available at lower costs during the first year that product lines are marketed. The individual members have worked together on the 2012 University of Illinois collegiate iGEM team. As corporate director, he was in charge of making and maintaining relationships with biotechnology companies and academic departments at the University. He has worked extensively with molecular biology, as a researcher at the UIUC Hergenrother Laboratory and the University of Belgrade Medical School. As treasurer of the 2012 UIUC iGEM team, he was responsible for managing all funds for lab procedures, travel, and construct synthesis. As lab manager of the 2012 UIUC iGEM team, he maintained the laboratory and took inventory every two weeks to make sure all sure all supplies were sufficiently stocked. As webmaster of the 2012 UIUC iGEM, he was in charge of uploading all data and results online, as well as other components of the iGEM project.
With two years of synthetic biology experience under her belt as a member of the UIUC iGEM team, she is a valuable asset to the product development wing of Illinois Synth. Weekly staff meetings are held by the vice president of each section of the company, such as finance, product development and lab management. Due to an arrangement with the Institute of Genomic Biology, lab space is provided free of cost during the Illinois Synth’s research and product development phase. One the necessary equipment is in place, expense ratios will decline dramatically each year due to capacity and efficiency maximization. We believe projects fail due to "human factor", specifically due to chaotic and misunderstood promises from project participants - client, manager and the team. This reduces misunderstanding, keeps everybody informed about what was promised, by whom, for whom and by when. The third of the product life cycle stages can be quite a challenging time for manufacturers. The majority of the consumers who are ever going to purchase the product have already done so. With this stage of the product life cycle often seeing the highest levels of competition, it becomes increasingly challenging for companies to maintain their market share. Profits will have to be shared amongst all of the competitors in the market, and with sales likely to peak during this stage, any manufacturer that loses market share, and experiences a fall in sales, is likely to see a subsequent fall in profits. Through the use of innovative marketing campaigns and by offering more diverse product features, companies can actually improve their market share through differentiation and there are plenty of product life cycle examples of businesses being able to achieve this.
With sales reaching their peak and the market becoming saturated, it can be very difficult for companies to maintain their profits, let alone continue trying to increase them, especially in the face of what is usually fairly intense competition.

All the products have to go through the same phases though the duration of each phase is different for different products.
Upon expansion and generation of a consistent revenue stream, Illinois Synth will look to occupy the Enterprise Works Tech Incubator located at 60 Hazelwood Drive, Champaign IL. There have been significant investments in the industry by companies such as Amyris Inc, GeneScript, Bayer, and Blue Heron Biotechnologies. Additionally, chemical processes that produce piceatannol with a high efficiency at a low cost would cause a great reduction in the utility of IOPiC. We will provide our GEM Toolkit at no cost to these institutions, and will look instead to establish a reputation for the product. Illinois Synth has successfully demonstrated that this PUF domain can be tethered to other functional domains, such as an endonuclease for the purpose of silencing gene expression through site specific mRNA cleavage. The study demonstrated how piceatannol binds to the insulin receptors found on preadiopocytes, impairing the cells ability to control cell cycles and successfully develop into adipocytes.
This proof of concept will be the basis for IOPiC, which will also take the form of an RNA Scaffold, and will catalyze the production of piceatannol from L-tyrosine along the pathway depicted in Figure 2.
The programmable ability of PUF to target a specific 8-nt sequence is documented in a variety of literature studies, referenced under Attributions. Due to the maintenance of hazardous materials at its lab facilities, it is subject to federal, state, and local laws and regulations governing the use, manufacture, storage, handling, and disposal of hazardous materials and waste products. Illinois Synth’s management team believes strongly in the notion that retaining a customer who has had a product problem costs less than developing a new customer.
Following unit maximization, the prices of our products will be elevated to maximize revenue.
As CEO of Illinois Synth, he will coordinate the research focus and direction of the company and its employees.
His work has included proving through fluorescent labeling and electrophoretic mobility shift assays that complexation of the disease specific RNA and MBNL protein can be inhibited. He is also proficient in advanced molecular biology techniques such as kinetic enzyme assays, molecular docking, molecular dynamics simulations, genome neighborhood analysis, cloning, tagless protein purification, high throughput screening, various spectrophotometric assays to probe for substrates, and bioinformatics utilizing Cytoscape.
As VP Lab Management for Illinois Synth, he will extend this role to include the oversight of all lab procedures and protocols, ensuring the highest safety and aseptic technique standards. As VP Technology, he will be in charge of maintaining the Illinois Synth website, including all relevant product and research developments. As VP Product development, she will be in charge of drafting research proposal timelines for the GEM Toolkit and IOPiC. Under this plan, eligible directors will receive all or a portion of their quarterly retainer fees in shares of the common stock of the company.
These meetings are used to inform personnel of changing company policies, ask personnel for input to develop company strategy, and create awareness of the activities of the various departments within the company. With web-based interactive Gantt chart Comindwork enables you to structure all the project commitments into clean and easy-to-read task-tree. In the first two stages companies try to establish a market and then grow sales of their product to achieve as large a share of that market as possible.
This decrease in profits could be compounded by the falling prices that are often seen when the sheer number of competitors forces some of them to try attracting more customers by competing on price. Additionally, developments in DNA synthesis and sequencing technologies and bioinformatics have catalyzed the progress of synthetic biology ever since the creation of the first synthetic cell in 2010.
Other compounds, if found to greatly inhibit adipogenesis, could also make a piceatannol-production system unnecessary. Upon receiving feedback about the GEM Toolkit, we will look to make any necessary changes or improvements before commercializing it. Our findings came in the form of biobricks that have a wide range of possible functions including gene expression modulation and the scaffolding of metabolic pathways. The following video provides an overview of the findings of the Kim laboratory, and the potential impact piceatannol may have in controlling obesity, one of the most of most widespread diseases of the 21st century. The PUF domain of human PUM1 gene contains eight tandem repeats, each recognizing one of the four nucleotide bases. This stage of the pricing strategy will be closely monitored, to ensure that the increase in price does not lead to a significant decrease in customers. As a consultant with Illinois Business Consulting, he has had experience providing business development and strategic solutions for multinational companies such as John Deere, as well as startup companies that will operate on a similar scale as Illinois Synth. As COO, he is in charge of overseeing the smooth management and communication between Illinois Synth’s internal departments and laboratory.
As VP Finance, he will be in charge of managing all finances, and creating quarterly financial reports for Illinois Synth. The number of shares each eligible director receives is based on the average fair market value of the common stock for the last 20 business days of the fiscal quarter. However, during the Maturity stage, the primary focus for most companies will be maintaining their market share in the face of a number of different challenges. Synthetic biology is being recognized around the world as an emerging technology that has the potential to provide solutions to energy and food shortage, pollution, infectious diseases, and even climate change.
Based on current research results, Illinois Synth does not expect such developments to arise in the next decade, will continue to monitor all relevant research, and expects to exit the market prior to major technology advances.
The company will therefore maintain a database of technical product related inquiries from all users of our product, academic and industrial. Next, during the maturity phase of each product, at maximum unit availability in the market, the price will be lowered to account for new technologies (developed both within and outside of Illinois Synth) in the marketplace that may offer competition. Illinois Synth stock option plans for directors, officers, employees, and consultants that provide for grants of nonqualified and incentive stock options.
It is then the responsibility of that vice president to inform the president to determine if any action is to be taken. The diagram on the left depicts the distribution of the global synthetic biology market share, as of 2011. Illinois Synth has demonstrated that PUF can be tethered with other functional domains for applications in E. Illinois Synth will also maintain a record of all complaints or reports of an actual or potential failure of any product to meet the specifications set forth in regulatory filings.
The decline phase of the product, if reached, will be characterized by a similar profit maximization strategy as the maturity phase.
Options generally are granted at fair market value, expire between five and 10 years from grant date and vest ratably over three to five years. The GEM Toolkit of PUF biobricks will offer an extension of the abilities of PUF to regulate and control gene expression.

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