Having been initially challenged with the entire process of new product development and introductions due to a slow-moving company, Motorola was able to spin off the new product development of their popular Razr phone and gain significant market share as a result (Burkett, 2005). Each of these examples illustrates how technologies have been used to mitigate the risk of new product introductions. The success of the Razr product launch (Burkett, 2005) is a case in point. Mattel and Coca Cola both have extensive programs for using technology-based systems and applications for listening to customers, yet in the case of the product introductions mentioned, they failed to accurately gauge the level of interest in product concepts.
Legal and Ethical Implications of New Product Development
The legal and ethical considerations of launching an energy drink named after an illegal drug, Cocaine, immediately drew criticism and legal action on the part of parents and consumer groups (Starling, 2007) (Starling, 2006). The ethics of promoting an energy drink to pre-teen and teenage consumers which are also the name of a highly addictive and dangerous drug showed an exceptional lack of legal and ethical judgment. Arguably the launch of Earring Magic Ken by Mattel, who appears to endorse an alternative lifestyle with the costume and earning, was considered unethical and in bad taste by the majority of parents who are the primary decision makers of which toys their children buy (Gillian, 2003). These lapses of judgment on the part of companies happen when the potential for attention in the market overshadows common sense. Developing an energy drink named after an illegal substance just underscores this point.
Michael Burkett. (2005, July). The "Perfect" Product Launch. Supply Chain Management Review, 9(5), 12-13.
LESLEY GILLIAN. (2003, June 28). Almost famous: Sorting treasures from trash: how big brand blunders can work to your advantage URBAN ARCHAEOLOGIST - LESLEY GILLIAN: [LONDON 1ST EDITION]. Financial Times, p. 8.
Grumet, L.. (2009). Stretch the Brand, Don't Lose the Equity. The CPA Journal, 79(1), 7.
Geert Hofstede, & Robert R. McCrae. (2004). Personality and Culture Revisited: Linking Traits and Dimensions of Culture. Cross - Cultural Research, 38(1), 52-88.
Riikka Kaipia, & Jan Holmstrom. (2007). Selecting the right planning approach for a product. Supply Chain Management, 12(1), 3-13.
Molina-Castillo, F., & Munuera-Aleman, J.. (2009). New product performance indicators: Time horizon and importance attributed by managers.
Technovation, 29(10), 714.
Pereira, Joseph. (1993, August 30). These particular buyers of dolls don't say, 'don't ask, don't tell'. Wall Street Journal (Eastern Edition), p. PAGE B1.
Schindler, Robert M.. (1992). The Real Lesson of New Coke: The Value of Focus Groups for Predicting the Effects of Social Influence. Marketing Research, 4(4), 22.
Shane Starling. (2007, April). Scrutiny intensifying for energy-drink claims. Functional Foods & Nutraceuticals,(64), 6.
Shane Starling. (2006, November). Cocaine: new energy drink elicits strong reaction. Functional Foods…
They did this by stressing the engineering expertise that the company is well-known for, coupling it with their well-respected Toyota Production System (TPS) which unifies suppliers to their internal supplier quality management standards. It is common knowledge that the TPS is a complex set of processes for coordinating with suppliers, and often requires up to a year of coordination between Toyota and a given supplier before a single product
The development organizations of Microsoft and Salesforce.com are very comparable in this regard. Microsoft is like AMD specifically with their Customer Relationship Management (CRM) systems. They are methodical, deliberate and will take years to eventually get all the integration with their own operating systems complete. Yet when Microsoft fulfills its product development vision for CRM, every other Microsoft application including Microsoft Outlook, Instant Messenger and all other personal productivity applications
For any strategic planning activity to be effective there must be the ability to quickly define process-level changes to increase competitive advantage. Mintzberg's critique of the strategic planning process is illustrated in the shortcomings of the Ashoff Matrix in this regard. Lack of strategic prioritization of projects within the context of the Ansoff Matrix - the Ansoff Matrix does not provide for strategic criteria to be applied to specific projects.
The high tech approach to managing new product introductions is to create an online password-protected website, often called a portal, and quickly upload and share all information about the new product introduction this way. This approach assumes that members of the sales force both for the company and for the direct sales channels will actually log in and use the data presented. It also assumes that all members of
Management and Technology Date (when you are going to hand this in) (1) (a) What are the pros and cons of concurrent product development? (b) Do the pros outweigh the cons? (c) Why or why not? The advantages or pros of the concurrent product development model include faster time to market, increased intensity of focus on communication and clarity of direction, more efficient use of limited resources due to constraints needing to
E-Marketing Strategies at Apple Orchestrating rapid new product development cycles that in many cases deliver products and services that create new markets, while at the same ensuring the continual strengthening and fidelity of a global brand is a daunting strategic challenge. Incorporating the most effective approaches to Integrated Marketing Communications (IMC) strategies today across a spectrum of established and emerging e-marketing channels must be managed with goals in mind first,
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now