New Product Plan
The PhotoDrive Pro-is a portable hard drive with a high-res screen and fold-out keyboard. It is targeted at photographers both professional and serious amateur. This market has a perpetual need for storage, and benefits from the additionally functionality offered by this drive. In particular, the ability to operate in remote, dangerous or bad weather locations without risking their laptops is a valuable feature of this product. The product will be launched by targeting serious photography buffs, both professional and amateur. These early adopters will be targeted through photography media, camera stores, Amazon and other channels. There are also plans to develop the next generation of the device in order to hold market share even when the competition enters the market, which is expected within a year.
The product that I am going to bring to market is portable hard drive with a screen and flip-out…… [Read More]
Schools/Healthcare/Government Institutions Use Product Mix:
Many of the professionally developed products are well-suited to the educational market. Again, educational institutions can find high performance coupled with cost efficiency. In addition, Dell offers special pricing for educational facilities, their faculty and staff, healthcare institutions, as well as State and Local Government agencies, and government employees.
Family Home Use Product Mix:
Lastly, the family home market is a key target market for the organization. The product mix for this market is considerably deep. From leading-edge notebooks designed specifically for the ultimate multimedia and gaming experiences, such as the XPS, to their budget-minded desktop Dimension series, to their vast offerings of televisions, cameras, camcorders, projectors, MP3 players, software, and games, Dell has something for every modern family.
Product Market Grid:
Educational / Healthcare/Gov't
Product Development vs. Market Development for Dell:
Currently, Dell services every market…… [Read More]
New product created is an addition to an existing line of products that serve a range of clients in the automobile industry. The core business of the company is the manufacture of custom made light weight automobiles guided by advances in technology. The firm has faced stiff competition from other automobile manufacturers venturing in light weight automobile industry. Operations have turned to be difficult in the recent years leading to increases in operations.
Five years back, the firm enjoyed sustainable control of light weight automobile and had specialized in the manufacture of vehicles only when demand has been placed. Given this development it is prudent that the firm considers introducing manufacture of heavy trucks in their product range. This will mean an adjustment in the market target for the firm as well as a change in the marketing strategy.
Need for the product
The market of light weight tracks has…… [Read More]
NPD Measurement and Quality Implementation -- Of course, without proper measurement metrics, any NPD model will fail, and it is within the metrics that decisions for the next round of strategy will occur (Anderson, 557). Change is necessary within all frameworks of business. Just as demographics and psychographics evolve, so must the food industry. However, innovation for the sake of innovation is likely not the direction the industry should pursue, but rather a more studied approach and utilization of the tools of Innovation Management to drive quality and proactive implementation of new food products (Costa, 2008).
Conclusion and Future of NPD -- Historically, there has been a high rate of failure within the food industry's NPD. This might be the result of too many products bombarding the market- striving for market share, or the lack of quality and confirmable research (Stewart-Knox and Mitchell, 2003, 58). Scholarship reveals just how important…… [Read More]
It is also important to utilize poor stitching and seams, so that the clothes fall apart quickly. Another great way to make the clothes not meet the needs of our target market is to make sure that they shrink in the wash, and that the colors bleed.
In addition, the clothes should be in a very limited selection in terms of design. Our customers want choice so we should make sure not to give them that. Ideally, the clothes will be priced at a very high price point. Pregnant women need to adjust their clothes as they get larger, so the customer should have to replace their clothing every month at high cost.
The objective of reverse brainstorming is to determine the characteristics of the product that the consumer specifically will not want. This helps to avoid pitfalls that can occur in the design and development process. By defining what…… [Read More]
New Product Development
"I work a financial services firm. We products development time, a lot incremental variety. You, bundle credit card access a savings account, bundle savings account a money market account, add IA investment option, things sort.
"I work for a financial services firm. We do new products development all the time, and a lot of it is of the incremental variety. You know, bundle credit card access to a savings account, bundle the savings account to a money market account, and add an IA investment option, things of that sort. Explain how the new products process is relevant in my industry, and to my company. Seems like it's more tailored to physical goods. Isn't it a little misleading?"
Selling a service and selling a product is virtually identical, in terms of the steps of the product development process. Of course, the framing of the marketing campaign for an…… [Read More]
The two-dimensional matrix concept is common in business strategy. There are a number of matrices that can be used to help understand a business or the opportunities that exist. A product positioning matrix can help to determine where the best opportunities lie (SmartDraw, 2008). For example, the bubble gum product idea would show that the product itself is not differentiated, but the collector containers would help to differentiate the product. The holders themselves, however, do not add value. The axes of any two-dimensional matrix are flexible -- they can be whatever dimensions management wants to study. If cost is on the matrix, then the cost of obtaining the rights to the album covers is an important consideration.
Cooper (2001) proposes a matrix featuring "products" and "markets" to help identify good product ideas that might fit specific markets. For example, the bubble gum market has certain demographic characteristics. The…… [Read More]
New product development (NPD) is a process that designates the complete process of bringing a new product or service to market. There are two individual parts involved in the NPD process. One part of NPD involves the idea generation, product design, and engineering. The other aspect of NPD involves market research and marketing analysis. The way in which these two parts come together varies by industry or with individual strategic plans. However, organizations almost always view new product development as the first stage in creating and developing new products while also considering product life cycle management which can subsequently be used to maintain or grow their market share.
In this era of globalization and international outsourcing, organizations are increasingly focusing on redesigning the product development process to adapt to changing capacities. New business strategies, organizational structures, business processes and technology are being implemented by many companies to continually improve their…… [Read More]
And from a services perspective, the ability to gain access to the Internet from anywhere at anytime without excessive service charges is also a highly differentiated aspect of the proposed product. These three aspects of product, process and service combine to deliver a device that replace multiple substitute products. Another characteristic of highly elastic products is that they have an abundance of substitutes (Klemperer, 141). By combining essential elements from a product, process and service standpoint, both the actual and perceived value of the proposed build-to-order tablet PC increases as well, further sloping the demand curve and making it more elastic.
As the proposed build-to-order tablet PC will combine these factors of product, process and service differentiation in a high-end electronics device not easily imitated for years, the proposed product will quickly be considered a luxury item. Over the first few years of the product family's life, there will…… [Read More]
New Product Development
A successful idea generation process is part of searching for an idea that is superior and which has not been discovered. There are various methods that can be used in generating an idea for the new product such as Delphi and focus groups, brain storming. Ideas for the new product can be got from research using various aspects such as SWOT analysis, the trends of market and consumers, the competitors of the product, trade shows and so on. The basic approach is to ensure that full creativity is harnessed when developing the new idea. Open innovation will also be used in idea development where research will be conducted on the product. This research should be conducted in a speedy so that costs can be cut and at the same time generate new ideas that are innovative. Input can be got from internal sources like strategic planning and…… [Read More]
The lack of cultural sensitivity and focus led to EuroDisney only attaining 5% of their anticipated volume on opening day. If all of these problems with the marketing of the concept to the government, selection of leaders, definition of concessions and rides weren't enough, the pricing was outside the range of what many French families could afford. In the first years of its existence, Disney partnered with high-end rail service Eurostar to get families from England, which had a strong conversion rate with the British Pound, to visit. This further angered the French, and also made Disney appear elitist, which is a big problem in France, which prizes its egalitarianism. It has since cost Disney well over $1B to manage their way out of this problem (Curwen, 1995).
Microsoft Windows Vista
Introduced in January, 2007, Windows Vista is easily the worst operating system produced in the last ten years. It…… [Read More]
Describe eGO's design process. How is it similar to the process detailed in the chapter?
The eGO design process is comparable to the concepts in the book in that it strives to create innovative solutions to long-established and well-known problems. The costs of transportation continue to escalate, and eGO concentrates on creating a solution for the challenge of short-range transactions with their products.
Visit eGO's website to learn more about products the company offers. What stage of the product life cycle is the eGO vehicle experiencing? What do you learn from eGo's product development experience?
A eGO is in the new product introduction phase of not only their product but also an emerging industry of motorized and eco-friendly low-end cycles. The launch of the eGO series of cycles globally is actually a pivotal point in the industry of low-end cycles, with the launch covering several continents. In terms of lessons…… [Read More]
New products and services are being developed almost continually based on technological changes, consumer choice and demand, and available materials and other new inventions. For instance, computer technology and miniaturization might make it possible for a product to have additional innovation enough to constitute a new niche or an extension. According to most research, however, it is more important to spend time and money selling inventions as opposed to protecting the rights. Patent Pending, for instance, is usually less than a few hundred dollars and provides some level of protection while the item is coming to market (Tozzi, 2007).
In the product management side, there are numerous types of innovation that occur when it comes to managing new or ancillary products. The two most popular types, however, are incremental and radical innovation. In essence, incremental innovation tends to exploit, improve, or otherwise change some existing technology. This innovation…… [Read More]
New Product Development Group
Gerry assumes that because Maria has been successful as a small entrepreneur that her business will easily be integrated into a much larger-scale operation. Although her product has national distribution, this does not necessarily translate into widespread market demand for all demographic groups. Food is very regionalized in terms of eaters' preferences (for example, deep dish pizza is popular in Chicago while 'skinny' pizza is popular on the east coast). Maria's tacos may have an audience, but it does not necessarily coincide with that of Manchester Food's audience. Furthermore, some foods work well as small scale operations but do not as a mass-produced product. For example, on the streets of New York, halal food in like grilled lamb in pitas is very tasty and affordable but this has not translated into generic fast food success for this item. Maria's idea for Sudden Seafood seems more of…… [Read More]
' The consumer is willing to pay more to communicate this image, and thus the high pricing of new goods or 'skimming' is a reasonable strategy for the company.
Low pricing of new products is best to use when trying to lure consumers to adopt a particular 'habit.' Gym memberships with introductory rate offers for new food products are often priced low to encourage consumers to give them a try and to make working out or a latte part of the consumer's everyday habits. However, clothing is not a 'habit' -- once it is purchased, it is purchased, and repeat purchases are less of a fashion company's bread and butter (no pun intended) than for service-based enterprises like food companies.
Fashion companies like the Gap know that they can secure the attention of some young consumers willing to pay more for new items, while other consumers will go to the…… [Read More]
New Product: Debut to Target Market
Developing and refining a new product is an exciting time, particularly one that fulfills a clear and present need of consumers all over the world. Introducing a new product to the world is even more exciting, especially if that product has done well with test markets. Introducing a new product to existing and new markets requires strategy and motivation in order to get the product into the hands of the people who are going to use it, love it and tell their friends. The key to doing this successfully is to truly understand your product and to promote it to the target markets using proven strategies for both sales and marketing.
This product was born out of the fact that the world of business, sports and entertainment has evolved at a rapid pace and continues to each day, and for the average…… [Read More]
New product development is pivotal and vital for the success of any business and organization. By developing and unveiling new products, a company is able to generate new prospects and reach markets. One particular important aspect that is deemed important in achieving successful product development is attaining innovative feedback and participation from consumers and markets, as they provide a concrete basis (Zemlickiene and Maditinos, 2012). Despite the fact that new product development encompasses a great deal of risk, it is deemed to be one of the most imperative strategies in any market or industry that is filled with competition. Numerous companies have been able to generate competitiveness and attained considerable profits and returns through the process of new product development. The influence that new product development has on consumer espousal and innovative behavior cannot be stressed or underlined enough. The unveiling of new products and services in the marketplace signifies…… [Read More]
New Poduct Plan
Pote's Five Foces Analysis
Bagaining Powe of Supplies
Bagaining Powe of Customes
Theat of New Entants
Theat of Substitute Poducts
This pape povides a plan fo eintoducing the failed Blackbey smatphone to the maket. The Blackbey was once the most popula smatphone in the U.S. and othe makets. The intoduction of the smatphone in 2006 maked a defining moment in the histoy of the smatphone maket. Howeve, with its focus limited to copoate uses and govenment agencies, Blackbey was slow to espond to the evolving needs of individual consumes. This gap pesented a pefect oppotunity fo Apple, Samsung, and othe ivals to oust Blackbey fom its dominant position. By 2011, the Blackbey had lost its position in the industy. The smatphone kept on losing its maket shae to newe entants, who…… [Read More]
This difference grew with advancing age. At ages 65 to 69, it was only 6 to 5. However, at age 85 and over, it reached 5 to 2. As more men live to older ages over the next 50 years, these differences may narrow somewhat.
3) Determinant -- Need for Assistance: As people age, there is a greater chance they will need assistance with walking. This is because of illness or recuperation from an operation or a fall, arthritis, frailty with age, or instability. A study by Gooberman-Hill and Ebrahim (2007) concerning the elderly making decisions about the use of walking aids showed that walking difficulty is common old age. However, older people's views on walking aids are likely to affect their uptake. The authors therefore explored older people's views on using these aids. Participants were 69-90 years old at the first interview, 15 were followed up a year later,…… [Read More]
The children do not see a template of moral fiber in the structure of the family, are certainly not learning it at school, and therefore have no basis for any type of ethic or morals other than the secular humanist -- "it depends" and "if you don't hurt anyone" viewpoint. The secular humanist, though, espouses that there are moral values that can be ascribed without God:
. . . The moral consequences of believing the universe not to be guided by a personal god to whom petitionary prayer can be addressed are huge. That is why it is so inadequate to call oneself solely an atheist; one needs some sort of description for what motivates one's behavior afterwards (Cooke in Kurtz, 2010).
And, reading this, one might forgive Al and Peg if they at least had a moral view; but that is the issue, they do not, which causes the…… [Read More]
new product requires several marketing considerations. There are many negative factors to product development that must be dealt with. There are also several factors that promote successful product development. Finally, product positioning and pricing are two important considerations.
One of the negative factors is uncertainty. This is especially true if the product is not only a new product for the organization but also a new product for the industry. One example that shows this is the computer software industry. The uncertainty is present because of its nature as a new and pioneering industry. The industry is rapidly changing and companies in the industry must be continually innovative and make decisions based on limited information. There is no certainty in this industry that a successful company will remain successful. To give an example, we can consider Apple-Macintosh. Apple-Macintosh had first-mover advantages as the first to develop a graphical user…… [Read More]
New Product, Service or Process
Produce a specification for an agreed project to implement a new product, service or process
Be able to plan for the launch of a project to implement a new product, service or process
Produce a project plan for an agreed project
Match appropriate resources to a Project
Cost all resources required for implementing a project
Agree timescales for the management and implementation of a project
Plan an appropriate strategy for the implementation of a project
Be able to implement a project
Implement a project in accordance with an agreed specification
Develop appropriate measures to monitor and evaluate progress and outcomes
Monitor the implementation of a project
Task 4: Be able to evaluate the outcomes of a project
Analyze the outcomes of a project in terms of the original project specification
Evaluate the outcomes of a project
Make justified recommendations for improvements to the project
Task…… [Read More]
product market that interests you, and come up with a new product for that market. Select a market that you know something about so that you will have the most domain specific knowledge. Be sure to include the following steps:
Describe the current product market. This includes the nature of the product, the target markets, competitors, and their product lines.
Your problem definition is to come up with a valuable new product for your product/market (See the slide on types of new products).
Go through the Product Innovation Slides, and use the 6 ideation techniques to come up with at 6-10 new product ideas.
Evaluate the ideas, select the best one, and justify your choice.
Flesh out your new product idea, including target market, benefits and features, etc. Explain why you think this idea is likely to be a commercial success.
I would like to develop a new design for…… [Read More]
Brand equity is becoming a necessity within the modern day business climate, when economic agents compete not only for market shares, but also for the best employees, the best technologies or the best resources. In this setting, brand equity provides competitive advantages and points of differences and is essential.
The creation of brand equity varies across industries, across economic agents and it depends on various elements. In other words, there are no secret recipes to creating brand equity, but Yahoo! has to devise its own strategies based on its own specifics. Some of the features which can impact the brand equity strategy would include the size of the company and its resource availability, the marketing expertise it possesses, the features of the market it addresses or the nature of the items it sells.
In terms of the items commercialized, it could be argued that brand equity is created differently at…… [Read More]
A Positioning Statement for the Coz-E Travel Blanket
To develop a market it is essential for a firm to develop a positioning statement. The positioning statement will identify the target audience along with the products category, and help the firm to differentiate its product from other competing products on the market (Hooley et al., 2007). The positioning statement will be a source of reference for all the subsequent marketing activity which is undertaken for that brand or product (Kotler and Keller, 2011). By looking at the different influences on a positioning statement, and the influences which are present for the Coz-E Travel Company, it is possible to narrow down the contents of the positioning statement and justify what is included before finalizing the statement itself.
For the Coz-E Travel Company, and their new product, the heated travel blanket, the positioning statement needs to identify the product and a viable…… [Read More]
Product Development Process
For a new product to be successful in the market one need to ensure that they have undergone the product development process. This will allow them to go through a series of stages that begin with ideation and ending with the introduction of the product in the market. These stages are aimed at understanding the consumers, markets, and competitors in order to ensure that the product will deliver superior value to the intended customers. The product development process is a cycle through which one should take their idea in order to convert it into a viable good or service. In our case, the idea of a new electronic product should also undergo the 8 steps of the product development process. These steps are idea generation, idea screening, concept development, and testing, marketing strategy development, business analysis, product development, test marketing, and commercialization (Gopalakrishnan, Libby, Samuels, & Swenson,…… [Read More]
Creating Competitive Advantages
Through New Product Development
Creating Competitive Advantages Through New Product Development
The transformation of many diverse forms of customer, supplier, internal development, and research & development (&D) insights into a consistent and productive platform for product development is key to long-term competitive growth. The reliance on advanced frameworks for organizing these diverse sources of innovation into taxonomies that can eventually be used to fuel new products is often called the New Product Development (NPD) process. As every company has a unique, highly differentiated and often highly customized business model, the same holds true for the NPD process. Companies over time define the NPD process to align with their unique technological and market strengths. Comparing the NPD process at Salesforce, the leading provider of SaaS-based CM software vs. Apple makes this point clearly. Salesforce is known for very rapid product releases of the CM applications and exceptionally quick…… [Read More]
The iPad is also differentiated with the screen technology, internal memory size and support for expanded Application Programmer Interface (API) calls so developers can create applications for it quickly. This has led to many news organizations creating iPad-specific applications to further promote their content, and also has led to many universities creating entire courses delivered on the iPad.
From a promotion standpoint, Apple excels at event marketing and the ability to manage multichannel marketing programs. The launch was coordinated across all Apple retail locations, which is how the company uses promotions and distribution to its advantage. Apple concentrates on promotions to drive traffic into their stores, in effect uniting these two areas of the marketing mix. Promotion is also heavily influenced by Steve Jobs, who heavily promote the iPad during the launch event in San Francisco. The iPad's promotional strategies also led to Apple creating entire segments of their stores…… [Read More]
Managing a New Product Launch
This paper discusses Keurig at home gourmet single-serve coffee product launch. Keurig is an established business attempting to break into the at-home single-serve product industry. It attempts to distinguish itself as a key player by offering gourmet coffee services. Coffee continues to be a booming product, with many opportunities. While coffee consumption continues to grow, there are many potential obstacles that Keurig may face. For example, there have always been many competitors in the market. There are two-serve and even single-serve vendors already in the market. The manner in which Keurig at home single-serve will attempt to distinguish its product successful is by promoting itself as an upscale provider to young, primarily male coffee drinkers interested in buying a high quality product with lots of variety. The odds are the company will do well if it markets its product to vendors that already…… [Read More]
The Power Frappuccino was however not introduced directly in all markets, but was first of all tested in different representative markets for a reaction from the customers. We can see from this example that the two main sources for new product ideas worked closely together before this product was introduced.
Another product that was tested during the late 1990s was the Chai Tea Latte, combining black tea, exotic spices, honey and milk. The move in itself could have been considered quite risky, given the fact that Starbucks is recognized as a coffee seller rather than tea shop, but the move did not affect the Starbucks brand. In fact, it showed the customers that there was a lot coming from Starbucks in terms of new product development and that they can virtually expect the company to come up with new ideas not only in the sector where they are market leaders,…… [Read More]
Like Clean, it will come in a geometric bottle that is transparent, except for the small beads of exfoliating substances in the liquid. The product will come in different floral-scented fragrances and pastel colors, all of which will have a slightly different 'property' for the consumer to enjoy. 'Energizing' will be pale purple and lavender; 'Rejuvenating' will smell like chamomile and be golden in tone, and 'Restorative' will smell like roses and be rose-hued.
The third product will be a moisturizer called 'Fresh' that can be used all over the face and body with a SPF of 30, designed to protect and replenish the skin. It will come in a geometric, clear bottle and be designated for dry, oily, and normal skin. The scents will be pleasurably 'sweet' to suggest indulgence and pampering. Dry skin moisturizer will be pale tan in color and chocolate-scented; oily skin will be white and…… [Read More]
product name? Describe the product
The product discussed in this essay is "drone delivery'. This service, as the name suggests, achieves delivery of packages and bought goods through a drone in a span of about half an hour. The consumer, through this prospect, uses geographical position system (GPS) data and information from the mobile device, such as phone or iPad; the drone tracks it and delivers the package to the desired or designated location (Marsh, 2015). In addition, subsequent to placing an order for delivery, the consumer is not obligated to remain in one location. The package delivery system can be designated to a particular location, not obligatory to the location of the client. The packages to be delivered will have an average weight of 86 pounds, which is basically the normal weight of products that are delivered to households (Marsh, 2015).
Identify and explain which market segmentation variable you…… [Read More]
Eight Steps of Effective Marketing Communication: The New Product Called Orange Clean
Recognizing the Target Audience
Determining the Communication Objectives
Planning the Message
Choosing Communication Channels
Launching the Marketing Communications Financial plan
Creating and Handling the Marketing Communications Mix
Determine the communications' results
Administer the integrated marketing Communication procedure.
Orange Clean. The company's major activity is to produce and sell inorganic household cleaners. The company functions in three different sections: Inorganic ingedients, and Others natural and organic chemicals. Orange clean is made up of the Inorganic Chemicals agents such as real peeled oranges and other natural flavors. The Fertilisers section comprises of natural and organic chemicals that have raw scent. The Others section are made up of speciality ingredients, which are all natural.
Today Orange Clean has a new assessment of communications as a communicating dialogue among the company and its clienteles that takes place all through the pre-selling, consuming,…… [Read More]
In the most successful SMB implementations of collaborative new product development tools including PLM and PDM, priority is put first on process definition and process improvement. Once processes have been defined, continually managed to greater efficiency and as optimized as possible, then the use of information systems technologies and platforms to automate them are added (Christensen, Magnusson, Zetherstrom, 2006, 583-585). PLM as a technique or strategy is not automated until the core processes that comprise a given SMBs use of it are made as efficient as possible and optimized through business process re-engineering over time. It is critical then for SMBs looking to build a collaborative new product development strategy to first look to streamline the most critical core processes their collaborative new product development strategies will address.
Collaborative New Product Development Process Focus
Empirical studies indicate collaborative new product development strategies have a significantly higher level of success when…… [Read More]
Marketing Communication Programme for the New Product
"The Body Shop" offers a wide range of naturally inspired cosmetics and toiletry products. The brand, originally created in the United Kingdom, distributes its products and expresses its values through a large multi-channel network of exclusive retail shops (1,088 company owned and 1,517 franchisees) in more than 60 countries, as well as through home and online sales. The purpose of this report is developing an international marketing plan for a new product; a special shampoo which mitigates the hair loss problem of people, particularly for men, to be added to the range for international market in Asia for the Body Shop.
An international marketing plan including an analysis of marketing potential and target segment of the new product, a marketing communication programme for the new product is indicated in this report.
This report also provides a SWOT analysis for The Body Shop and…… [Read More]
New products can either be an entirely new product to the marketplace, or more commonly are an extension of a product line or an iteration of a pre-existing product. One new product released in the past year was the iPhone 6S. This is an extension of the iPhone line in general, or more specifically the iPhone 6 line that was originally launched in 2014. The 6S represents some tweaks to the older products, but nothing so dramatic that an entirely new name for the product was warranted. Thus, this product is an extension of the older line, intended to replace older models of the iPhone, as anything before the 6 series is now discontinued. The biggest challenge that Apple had with this product was to differentiate it sufficiently from its other offerings. The existing iPhone 6 proved popular, and the 6S was viewed by the marketplace…… [Read More]
Generation Techniques in New Product Development
The process of new product development begins with identification of good product ideas and the use of an appropriate criterion to determine ideas to pursue. This process involves concept generation, which is the most important step since it involves generating and/or obtaining ideas regarding the product. Concept generation in new product development entails developing a set of customer needs, specifying targets, and determining several product alternatives for the design process. Given the significance of concept generation in new product development, there are several concept generation techniques. These techniques can be utilized to create variations of the basic concept in relation to different product form, characteristics, positioning, benefits, and customer target.
Overview of Concept Generation
According to Nobel (2013), concept generation is the process through which product development team creates or obtains ideas relating to the various aspects of a product such as product form…… [Read More]
The target market for the headscarves consists of Muslim women. In general, the product will appeal mostly to those aged 12-40, as that is the prime demographic for athletic wear, and as well that demographic may be more liberal with respect to things like exercise. It is important to note that there are significant differences between types of Muslims, so there is no one universal headscarf style that will appeal to all groups, or even be acceptable to all groups. A variety of designs will be needed in order to meet the needs of the target market. The target market is otherwise the same as for Nike's regular client base. This means younger, fairly well-educated, in the case of Muslims more liberal, and with a reasonable income that allows them to purchase Nike's premium-priced products.
The market is a niche market. In the United States, there are…… [Read More]
molecules collide with enough activation energy that the chemical bonds break. Once these chemical bonds are broken, new bonds and products are then formed. Thus, the two previous molecules were moving at a fast enough speed to break the original chemical bonds to form new products.
The two molecules must be moving fast enough and have enough activation energy to break the original chemical bonds. Also, the two original atoms must have the right orientation in order to properly line up in the right position to actual be able to collide successfully.
The two molecules need sufficient activation energy, which comes from the energy seen in the collision to activate the process of reworking the chemical bonds.
The bonds that are being made release the energy required to break the older bonds.
e. Bond making generates more energy than is often required for the breaking of the old bonds. Thus,…… [Read More]
The potential success of a company especially in the introduction of a new product can be evaluated using SWOT strategic tool. In any analysis, the investor often seeks to understand the true status of the organization by identifying the favorable and unfavorable conditions influence its success prospects in the industry (Jones, 2013). The first item of assessment under this is the strengths of the organization. Here, all those positive endowments that an organization has are described and linked to the success of the organization. For instance, PolyOne Corporation may use its existing strength of strong market leadership to influence the performance of the larger plastic pipes for plumbing that will be introduced. The analysis of the weaknesses and opportunities at PolyOne Corporation are also considered here because they influence investor confidence and its competitive advantage. Finally, the analysis deals with the threats that the company will face as…… [Read More]
PST's positioning on the market had always been focused on lead technology and innovation in the carton sealing and industrial tapes, specialized adhesives domains. Their focus had been on providing high quality, high price products to the market, with continuous innovation to cover new opportunities that appeared on the market. This approach translated in a doubling of K2-Tape sales over the last four years, from $39.6 million in 2008 to $68.6 million in 2012.
The K2-Tape product line included nine carton sealing tapes. Its portfolio of consumers generally focused on users from the packaging, retail, or manufacturing industries. The company had always focused on advanced technology, high-quality products as part of its orientation to market policy and its overall values and marketing strategy. This had been the primary factor differentiating the company over its other competitors.
However, in the last years, there had been strong competition from Tensile's BOPP economy…… [Read More]
Focus lenses core competency is provision of traditional contact lenses. In a bid to satisfy the needs of its increasing range of customers, it has undertaken to focus on creating liquid drop contact lenses. Its customers are transforming from wearing the traditional contact lenses to liquid drop lenses. It intends to use state of the art technology to create liquid lenses. Its opportunities and strengths are based on its competition and the impending expansion into other market territories. Customary contact lenses pose serious competition to liquid drop lenses. This is the most outstanding weakness Focus lenses has. Price wars are likely to emerge because Focus lenses competitors are more likely to introduce a similar product. Focus Lenses has a loyal customer base this gives them an edge with regard to marketing and promoting liquid drop contact lenses which its competitors do not have. Focus lenses business model allows…… [Read More]
Product Mix: Old Spice
Old Spice is a line of products that meet personal needs of people, providing varied services. Initial Old Spice products were for women, and they had the brand name of Early Old Spice. The product came into the market in the year 1937, with an extension occurring in 1938 that introduced Old Spice for men. The products of Old Spice initially were after shave lotions, shaving soaps, deodorants and perfumes, which later incorporated other products such as soaps, detergents among others. This product creates a presentable opportunity to understand the development of products, growing from simple one line production of product to a mixed product line of production. The products in the Old Spice mix are for fragrances, skin care and antiperspirant and deodorant products.
The Old Spice brand is a company of its own, from the time of establishment. Initially, the product production belonged to…… [Read More]
An additional example of how a company learned how to use techno0loigy effectively in their new product development strategies is Motorola. 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 azr 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 azr 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…… [Read More]
Products Liability esearch:
Mattel Inc. is a company that was founded in 1944 by Elliot and uth Handler that designs, manufactures, and markets a huge range of toy products. The firm is headquartered in California with its core product lines including Hot Wheels die-cast vehicles, Barbie fashion dolls, Disney toys, Fisher-Price preschool toys, and games like Scrabble. While Mattel also manufactures its toy products based on license agreements with movie makers, most of its toys are produced outside its huge market in the United States i.e. Southeast Asia. Actually, the firm's principal manufacturing facilities are located in several countries in Southeast Asia like Malaysia, China, Thailand, Indonesia, and even Mexico. Since its inception, the company has continued to experience significant growth that enables it to generate huge revenues. By 2007, its revenues had grown to $5.97 billion with its three largest customers accounting for 41% of sales across the globe.…… [Read More]
Product ecalls and How it Affects the Company
Food Industry ecalls
Instances of Product recalls
Effects on the Company
Loss of reputation
Legal and regulatory issues
Handling of Product ecalls
Treatment of ecalled Products
Product recalls are one of the sensitive business areas in the operation of any organization. The businesses tend to recall its products due to various reasons including minimizing the risk of injury for consumers, the compliance requirements in legal and regulatory perspective, and to protect the brand image in the market. There are various other reasons that are discussed and elaborated in the later sections. The product recalls are critical for different industries but especially for food chains and healthcare organizations the importance is increased. The businesses also establish well planned and thought out systems to ensure that they have a policy and system in…… [Read More]
easons for product line expansion
Product line is a group of related products manufactured by a single company and the products are closely related in one way or the other. There are several reasons that can puch a firm towards the expansion of a product line.
Increase sales; Some firms expand their product lines with an intension of increasing the firm's overall sales. This is because when the company expands its product lines, it increases its production and therefore more products will be produced hence increasing the company's sales. (Mc Grath Michael, 2010).
Profit growth; Some firms expand their product lines to increase their profitability through greater sales volume which might be obtained from new products since most people prefer purchasing products from brands which they are familiar with. The expansion of the product lines may be with an aim of enabling a specific item in the firm…… [Read More]
Product Design Problem
Modern corporations which integrate the design, manufacture and marketing phases of a particular product are often confronted by the continual conflict which exists between industrial designers who conceptualize new ideas and engineers tasked with transforming that vision into tangible form. A delicate balance must be achieved by savvy executives seeking to achieve peak levels of performance and production from both their design and engineering wings. The world of industry is littered with discarded ideas and dashed dreams, and more often than not the ultimate success or failure of a product is determined by the ability of designers and engineers to cooperate while constructing and refining a prototype. When the lines of communication between any sectors within a firm are limited or severed, due to professional biases and petty disputes, the product which eventually goes to market will typically be substandard in either its stylistic design or its…… [Read More]
Product Launch Plan
The elements of product launch plan that are going to be looked into here include the distribution strategy, financial information, and marketing research.
Teas N. Line has undertaken to deal in Oolong, Green, Yellow, and Black tea after realizing that tea after some time tea loses its freshness after it has spent some time on the shelf and that consumers want tea that is freshly packaged and shipped in oxygen free packaging. The consumer's preference for pleasant smelling tea as opposed to those having bitter and stringent taste has made the proprietors of Teas N. line to consider introducing the above named teas in the international market. Consumers have become very aware of the health risks they are exposed to by soft drinks and have consequently turned to flavored waters and tea as alternatives. The Teas Line N. seeks to be a healthy alternative to…… [Read More]
New service economy is an economy that is based on knowledge, services and communications between people. This is an economy where there are relatively few manufacturing jobs, and most people work in the service industry in some capacity. The new service economy reflects the dominance of this type of industry in our economy. This newfound dominance of the service economy has an impact on our ability to have a sustainable environmental management approach.
Sound environmental management practice implies the prevention of environmental catastrophe and the strong stewardship of the environment, within the context of a functioning, growing economy. In part, the new service economy facilitates a higher level of environmental stewardship inherently, because most people earn their living without producing very much in the way of physical goods. People trade on knowledge, experience and skills, things that do not cause much waste.
These new knowledge industries can play a strong…… [Read More]
This means that the company must be smart with its distribution, focusing on key retailers and channels to introduce the product to the public. There are exceptions, however. For a lot of consumer electronic products -- smartphones, for example -- companies prefer nationwide rollouts of new products through major telecom distributors. Such a strategy is often supported, however, with penetration pricing and extensive ad campaigns. For companies that cannot afford this, regional distribution or through specialty stores is often a first step during the introductory phase until some word of mouth has been built up to support the product.
Promotion is critical during the rollout phase. At this stage, most consumers are unaware that the product exists, so promotion needs to not only introduce the product, but explain where it fits into the competitive mix, its positive attributes, and convince the consumer to buy. Promotion levels can be very high…… [Read More]
On the other hand, iMac is performing relatively great from AMD in terms of a number of things like cost effectiveness, quality and advertisement. In the next section, we will talk about the marketing mix which usually called marketing communication mix.
Marketing Mix of iMac
Marketing mix essence is the most important essence underlies in marketing communication. Through the mix the researcher analyze the operation management of an entity along with its consumer choice and specification (Salas, 1992). There are 4 elements comes under the umbrella of marketing mix which predominantly are
Basically a product is an ending process of an organization. The product of Apple Inc. is remarkable in terms of quality and reliability, but there is a need to enhance the quality of the product more to make this brand more powerful.
Price is the thing on which the consumers emphasize a lot. The buying power…… [Read More]
Product life cycle is the different stages of a product's life. The stages are introduction, growth, maturity and decline (QuickMBA, 2010). The marketing decisions will vary depending on which stage of the life cycle the product is in. The self-driving car will be in the introductory life cycle phase when it is launched. During this stage a number of things occur. The brand must be developed and introduced to the market. The distribution strategy must be determined. Promotion should be aimed at early adopters during this phase. In addition, the pricing structure may incorporate elements of either skimming or penetration pricing (QuickMBA, 2010).
The self-driving car is expected to move slowly through the introduction stage of the product life cycle into the growth stage. The reason the pace of this movement is expected to be slow relates to the fact that the technology is revolutionary. Consumer acceptance of the technology…… [Read More]
This practically also pays big dividends for manufacturers as they continue to strive to keep their Energy STA Compliance ratings on products, leading to lower costs for power supply, electrical system integration and less product wear due to more efficient use of energy. Studies also indicate that Energy STA compliance, when designed in as part of the DfE initiatives in a PLM system, can have an exceptionally high accumulative impact as well (Preston, 2001).
Integrating DfE into PLM frameworks then not only alleviates the unnecessary and often high costs of noncompliance to federal and global mandates, this integration has also been shown to reduce the net amount of new product components necessary, further creating higher levels of reliability in products over time (Mascle, Zhao, 2008).
There are many additional benefits to integrating DfE product development practices into the broader PLM frameworks manufacturers use for designing, launching, managing and discontinuing products.…… [Read More]
Making the most of the differentiation available in an entirely new product, in addition to introducing an entirely new product generation will lead to new markets potentially is the strategic objective. The growth phase of the product lifecycle concentrates on getting sales to increase, increasing trial and use of the specific network component, working with distributors and dealers to more illustrate the performance advantages, and also concentrate on the opportunities for earning gross margins through the channels of distribution as well. The maturation process is one where the products are typically competed against based on price, and this is certainly the case with network components. In the case of routers and switches, the basic functionality is evaluated first by customers to make sure the specific product will meet their needs, yet price and availability are what typically win sales in this phase of the product lifecycle. Finally, the harvesting or…… [Read More]
Product Life Cycle of Voice-Activated Television
As the latest innovation in television technology, the advent of voice-activated technology represents a fundamental shift in the way consumers interact with their favorite products. ather than utilize a remote control to operate a device, owners of Television Inc.'s new voice-activated TV set will be able to change channels, adjust volume settings, record their favorite programs and search for upcoming events all through the instinctual act of telling the machine what they want to see. As the forerunner within an industrywide process of progressive segmentation, Television Inc. has positioned itself to capture a dominant share of the emerging voice-activated TV market, but the company must ensure that its new product is expertly facilitated through the Product Life Cycle. According to the prevailing research on product development and marketing, a product experiences several phases during its so-called life cycle including the Introduction, Growth, Maturity and…… [Read More]
Product Life Cycle Analysis
Products, like living creatures, have a specific life cycle. A product is born, it grows up, and eventually it dies. A product's birth is its creation -- the first moment that a brand new device or invention rolls off the assembly line and is made available to consumers. In the case of a color television, its life cycle would commence at the time a brand model first appears in the stores. If it is a well-designed product, and represents an improvement over previous versions, it will no doubt do well as it will appeal to consumers. The period during which a television "grow up" can be described as the interval of time between its initial appearance, and the time it takes for that product to "catch on," or establish itself. hen Sony introduces a new color television, that new television is like a newborn baby. The…… [Read More]
Dell Inc. Marketing and Manufacturing Process Integration
Based on analysis of Sources: (Kapuscinski, Zhang, Carbonneau, Moore, eeves, 2004) (Gunasekaran, Ngai, 2009) (Bilek, 2010)
Discussion of Current Business Issues
Today Dell suffers from not having enough insight into the most critical customer relationships necessary to grow its emerging virtualization and Cloud computing businesses, as the company's approach to managing by technology instead of customers created a very myopic mindset. The transition from being purely technology- and product-centric to one that puts customer feedback and their insights into the center of a business model can only be achieved by measuring processes and improving them (Liu, Guo, Lee, 2011). Nowhere is this more evident than in the company's quoting process. Ironically for a company so well-known for its build-to-order process online, tis enterprise-wide quoting systems are seriously broken and often can take weeks to produce a highly specific quote for a…… [Read More]
McDonald's Corporation Overview
of Product Design, Development and Product Lifecycles
McDonald's Corporation relies on the intersection of continual product design innovations, new product development, and an extensive supply chain and strategic sourcing system to continually fuel the development of new menu items globally. Their approach to product design, product lifecycle management, and the different issues pertaining to product development they manage are explained in this analysis.
Product design is applied to the decision-making process within McDonald's using an accelerated New Product Development and Introduction (NPDI) process that allows for the company to continually keep their new product pipeline moving forward. This NPDI process is tightly integrated to Product Lifecycle Management (PLM) systems of record and the continual in-bound information from supply chain management (SCM), pricing and procurement systems so a 360-degree view of the new product design process is achieved (Martin, 2002). In this way the product design…… [Read More]
New best practice for a company in Stage I or II would be to measure everything. The reason for this best practice is simple, harkening back to Frederick Taylor -- you can't manage what you can't measure. Small, growing firms tend to focus on marketing and on selling new products, not professionalizing their management. But measurement is a key best practice that firms should employ as early as possible in their business, because it drives so many things.
Getting tracking systems into place allows for defects to be tracked and detected, it allows for better performance management of human resources, it can allow the company to identify and dismiss underperforming employees, and improve service quality. Management benefits from knowing more about the company, and can begin to orient behaviors and even the organization's culture towards specific objectives (Lovin & Yaptangco, 2006).
Measurement also allows for performance benchmarking. The company can…… [Read More]