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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.
Product/Service Description
The product that I am going to bring to market is portable hard drive with a screen and flip-out…
Works Cited:
Hausman, J.; Leonard, G. & Zona, J. (1994). Competitive analysis with differentiated products. Annals of Economics and Statistics. Vol. 34 (1994) 159-180.
Morgan, N.; Vorhies, D. & Mason, C. (2009). Market orientation, marketing capabilities, and firm performance. Strategic Management Journal. Vol. 30 (2009) 909-920.
Nill, J. & Kemp, R. (2009) Evolutionary approaches for sustainable innovation policies: From niche to paradigm? Research Policy Vol. 38 (2009) 668-680.
Porter, M. (2008) The five competitive forces that shape strategy. Harvard Business Review. Retrieved November 5, 2012 from http://hbr.org/2008/01/the-five-competitive-forces-that-shape-strategy/ar/1
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:
Professionals
Family Homes
Educational / Healthcare/Gov't
Notebooks
Desktops
Servers/Storage
Monitors
TV/Cameras/Etc?
Product Development vs. Market Development for Dell:
Currently, Dell services every market…
References
Companies: Dell's profit meets expectations, as revenue gains top forecast. 16 Aug 2002. Wall Street Journal: UKA4.
Dell Computer: Product mix, lower costs pay dividends. 11 Aug 2000. The Vancouver Sun: D2.
Dell Online. 2006. Dell Computers. http://www1.ap.dell.com/content/default.aspx?c=sg&l=en&~ck=geo (Accessed September 17, 2006).
New Products
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…
Works Cited:
BrandingStrategy. (2009). Brand positioning and perceptual maps. Branding Strategy Insider.com. Retrieved October 27, 2011 from http://www.brandingstrategyinsider.com/2009/09/brand-positioning-and-perceptual-maps.html
Cooper, R. (2001). Winning at new products: Accelerating the process from idea to launch. Cambridge, MA: Perseus Press.
Greenacre, M. (no date). Dynamic perceptual mapping. Universitat Pompeu Fabra. Retrieved October 27, 2011 from http://www.google.com/url?sa=t&rct=j&q=perceptual%20map&source=web&cd=19&ved=0CGEQFjAIOAo&url=http%3A%2F%2Fwww.econ.upf.edu%2Fdocs%2Fpapers%2Fdownloads%2F1153.pdf&ei=R5mpTvSOILOksQLPiJmnDw&usg=AFQjCNG5cNLi4-5PnlG_hPJw-AD3d6xQ1w&cad=rja
SmartDraw. (2008). Working smarter with product positioning matrix diagrams. SmartDraw. Retrieved October 27, 2011 from http://www.smartdraw.com/learn/worksmarter/diagrams/Working-Smarter-with-Positioning-Matrix.pdf
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…
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…
REFERENCES and WORKS CONSULTED
Anderson, A. (2008). "A Framework for NPD Management." Food Science and Technology. 19 (1): 553+.
Costa, A. (2008). "Food Innovation Management." Food Science and Technology. 19 (3):
Hart, S. And M. Baker. (1994). "The Multiple Convergent Processing Model of New Product Development." International Marketing Review. 11 (1): 77+.
Kahn, K., et.al. (2006). "Perspective: Establishing a NPD Best Practices
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…
Works Cited:
No author. (2009). Attribute listing, morphological analysis and matrix analysis. MindTools. Retrieved November 8, 2009 from http://www.mindtools.com/pages/article/newCT_03.htm
No author. (2009). Reverse brainstorming. MindTools. Retrieved November 8, 2009 from http://www.mindtools.com/pages/article/newCT_96.htm
No author. (2009). SCAMPER. MindTools. Retrieved November 8, 2009 from http://www.mindtools.com/pages/article/newCT_02.htm
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…
References
Crawford, Merle & C. Anthony De Benedetto. (2002). New product management. New York:
McGraw Hill.
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…
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.
Conclusion
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…
Works Cited
Cette, Gilbert, and Jimmy Lopez. "ICT Demand Behaviour: An International Comparison." Economics of Innovation and New Technology 21.4 (2012): 397.
Docters, Rob, et al. "The Neglected Demand Curve: How to Build One and how to Benefit." The Journal of business strategy 29.5 (2008): 19-25.
Klemperer, Paul. "The Competitiveness of Markets with Switching Costs." The Rand journal of economics 18.1 (1987): 138-154.
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…
References
Chartered Inst. Of Environmental Health,(2010). Product Strategy Development: Idea Generation and Screening. Retrieved April 4, 2013 from http://www.nzifst.org.nz/creatingnewfoods/idea_generation4.htm
Sambandam R., (2010) .New Product Development: stages and Methods. Retrieved April 4, 2013 from http://www.trchome.com/about-trc/press-releases/223.html
Boundless, (2013). Idea Generation. Retrieved April 4, 2013 from https://www.boundless.com/marketing/products/new-product-development-1/idea-generation/
Garret, T. (2013). Marketing and NPD.
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…
References
Curwen, Peter. (1995). EuroDisney: The mouse that roared (not]). European Business Review, 95(5), 15.
Rosen, Deborah E., Jonathan E. Schroeder, Elizabeth F. Purinton. (1998). Marketing High Tech Products: Lessons in Customer Focus From the Marketplace. Academy of Marketing Science Review, 1998, 1.
Aaron Weiss. (2006). Who needs Windows Vista? NetWorker, 10(4), 18-26.
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…
Product Invention
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…
REFERENCES
Arons, M. (March 17, 2010). Five Key Drivers of Global Marketing Effectiveness.
Forbes.com. Retrieved from: http://www.forbes.com/2010/03/17/branding-gillette-glaxosmithkline-cmo-network-marc-de-swaan-arons.html
Coe, N., Wrigley, N. (1990). The Globalization of Retailing. London: Edward Elgar
Publishing.
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…
' 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…
Reference
New -Product Pricing Strategies. Marketing. March 2010. November 4, 2010.
http://uwmktg301.blogspot.com/2010/03/new-product-pricing-strategies.html
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.
Product Description
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…
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…
References
ADIELE, K. C. (2012). New product development and consumer innovative behavior: an empirical validation study. European journal of business and social sciences, 1(6), 97-109.
Agrawal, A., & Bhuiyan, N. (2014). Achieving Success in NPD Projects. World Academy of Science, Engineering and Technology, International Journal of Social, Behavioral, Educational, Economic, Business and Industrial Engineering, 8(2), 476-481.
Bhuiyan, N. (2011). A framework for successful new product development.Journal of Industrial Engineering and management, 4(4), 746-770.
Zemlickiene, V., & Maditinos, D. I. (2012). Marketing strategy formulation for innovative product development process. Business: Theory and Practice/Verslas: Teorijairpraktika, 13(4), 365-374.
New Poduct Plan
Situational Analysis
Competitive Analysis
Pote's Five Foces Analysis
Bagaining Powe of Supplies
Bagaining Powe of Customes
Theat of New Entants
Theat of Substitute Poducts
Competitive Rivaly
Stengths
Weaknesses
Oppotunities
Theats
Maketing Stategy
Shot-tem Goals
Long-tem Goals
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…
references of the market was one of the major reasons that led to the failure of the Blackberry smartphone. The company has historically focused on corporate and institutional users, giving little attention to individual consumers. The declining performance of the company is also a major weakness as the company is increasingly losing its financial strength, which may make it unable to exploit opportunities in the marketplace. Other notable weaknesses include limited support for third party applications, poor leadership, and poor branding.
Opportunities
One opportunity Blackberry may take advantage of to regain its lost glory is the Samsung crisis, which has caused the South Korean giant substantial losses in terms of not only revenue, but also reputation. The recall of the Samsung Galaxy Note 7 and its subsequent discontinuation presents a good opportunity for Samsung rivals to gain competitive advantage in the marketplace. Emerging markets also present an important opportunity for Blackberry, especially since Apple has historically focused on developed markets. The attractiveness of emerging markets particularly stems from the rapid growth of smartphone penetration in these markets. Other significant sources of growth include mergers and acquisitions, strategic partnerships, growth of cloud computing, integration of third party applications and features, as well as the firm's existing customer base.
Threats
The biggest threat facing the Blackberry is competition. Apple, Samsung, and recent entrants to the smartphone market such as Xiaomi and Huawei have provided unmatched smartphone features, which may make it difficult for Blackberry to successfully re-enter the market.
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,…
References
Gooberman-Hill, R, and Ebrahim, S. (2007). Making decisions about simple interventions: older people's use of walking aids. Age and Ageing. 36(5): 569- 573.
MMR. (2001) Stylish help for aging eyes. [electronic form]
U.S. Census Bureau (May 1995). Sixty-Five Plus in the United States. Economics and Statistics Administration, U.S. Department of Commerce. Retrieved February 2, 2008. http://www.census.gov/population/socdemo/statbriefs/agebrief.html
Wolfe, D.B. (2003) Ageless Marketing - Strategies for Reaching the Hearts and Minds of the New Customer Majority. Wayne County: MI.
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…
REFERENCES
Clark, T. (2008). "Center for Naturalism." The Center for Naturalism.
Cited in: http://www.centerfornaturalism.org/index.htm
Kurtz, P. (2010). "Beyond Atheism -- Beyond Agnosticism -- Secular Humanism."
Council for Secular Humanism. Cited in:
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.
Negative Factors
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…
Bibliography
Ball, D.A., McCulloch, W.H., International Business: The Challenge of Global Competition. Boston: McGraw Hill, 1999.
Bradmore, D., Joy, S., & Kimberley, C. Marketing Visions. New York: Prentice Hall, 1989.
Burke, R., Condron, I., Conroy, G., Knol, W., & Nolan, P., Strategy in emerging industries: Microsoft Corporation. http://www.bess.tcd.ie/foresight
Daft, R.L. Management. Fort Worth: The Dryden Press, 1998.
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…
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…
References:
Tonnis, R., International branding -- an internationalization approach on the marketing level, GRIN Verlag
Nworah, U., Nigeria as a brand, Brand Channel, http://www.brandchannel.com/papers_review.asp?sp_id=604 last accessed on November 11, 2011
Brand and organizational development, Q and A Consulting, http://qandaconsulting.info/brand-organisational-development last accessed on November 11, 2011
Yahoo!: managing an online brand, http://www.scribd.com/doc/44767083/Yahoo-Managing-an-Online-Brand last accessed on November 11, 2011
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,…
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…
References
Bentley, James. (1992). New Product Introduction: Speed, Quality and Cost. Assembly Automation, 12(2), 3.
Lee G. Cooper. (2000). Strategic marketing planning for radically new products. Journal of Marketing, 64(1), 1-16.
Cusumano, M., MacCormack, A., Kemerer, C., & Crandall, W.. (2009). Critical Decisions in Software Development: Updating the State of the Practice. IEEE Software, 26(5), 84-87.
Kettunen, P.. (2009). Adopting key lessons from agile manufacturing to agile software product development -- A comparative study. Technovation, 29(6/7), 408.
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…
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,…
Bibliography
1. New Product Marketing Strategy Breakthroughs. On the Internet at http://qdistrategies.com/qprodstrat.htm.Last retrieved on July 17, 2007
2. Starbucks Gossip. On the Internet at http://starbucksgossip.typepad.com/_/2006/04/starbucks_intro.html/last retrieved on July 17, 2007
3. Starbucks Corporation. On the Internet at http://www.mhhe.com/business/management/thompson/11e/case/starbucks-2.html.Last retrieved on July 17, 2007
New Product Marketing Strategy Breakthroughs. On the Internet at
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…
Work Cited
Leavy, Hannelore R. "The spa evolution." Club Industry. March 11, 2011
http://clubindustry.com/mag/fitness_spa_evolution/
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…
References
Marsh, Rene. Amazon drone patent application imagines delivery that comes to you with one click. CNN, 2015. Retrieved 22 January, 2016 from: http://edition.cnn.com/2015/05/12/politics/amazon-patent-drone-delivery/
Notes Desk. Product Life Cycle (PLC), 2009. Retrieved 22 January, 2016 from: http://www.notesdesk.com/notes/marketing/product-life-cycle-plc/
Smith, Cooper., BI Intelligence. Amazon's delivery drones could make 30-minute deliveries a reality. Business Insider, 2015. Retrieved 22 January, 2016 from: http://www.businessinsider.com/delivery-fee-for-amazon-prime-air-2015-4
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,…
Bibliography
Andreasen, A., 2008. Marketing social change: Changing behavior to promote health, social development, and the environment.. San Francisco, CA:: Jossey-Bass.
Anon., 2016. Creating a Stakeholder. [Online]
Available at: http://www.ors.sa.gov.au/__data/assets/pdf_file/0006/148497/Creating_a_Stakeholders_Communications_Plan.pdf
[Accessed 26 February 2016].
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…
References
Michael A. Allocca, and Eric H. Kessler. 2006. Innovation Speed in Small and Medium-Sized Enterprises. Creativity and Innovation Management 15, no. 3,
(September 1): 279.
Rajiv D. Banker, Indranil Bardhan, and Ozer Asdemir. 2006. Understanding the Impact of Collaboration Software on Product Design and Development.
Information Systems Research 17, no. 4, (December 1): 352-373,440.
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…
Marketing Innovation
Market Innovation
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…
References
Fuller, J., Bartl, M., Ernst, H., Muhlbacher, H. (2004). Community-based innovation. Proceedings of the 37th Hawaii International Conference on System Science. Retrieved April 16, 2016 from https://www.researchgate.net/profile/Hans_Muehlbacher/publication/221180518_Community_Based_Innovation_A_Method_to_Utilize_the_Innovation_Potential_of_Online_Communities/links/0046352b85ba69f305000000.pdf
George, A. (2016). The 6 most important technologies of summer 2016. Popular Mechanics. Retrieved April 16, 2016 from http://www.popularmechanics.com/technology/gadgets/g2560/the-6-most-important-technologies-of-summer-2016/
Hoyer, W., Chandy, R., Dorotic, M., Krafft, M. & Singh, S. (2010). Consumer co-creation in new product development. Journal of Service Research. Vol. 13 (3) 283-296.
Nambisan, S. (2002). Designing virtual customer environments for new product development: Toward a theory. Academy of Management Review Vol. 27 (3) 392-413.
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…
References
"Concept Generation." (2003, March 5). Lecture 13. Retrieved from University of Iowa website: http://user.engineering.uiowa.edu/~bme083/lecture/lecture13_030503.pdf
Linsey et al. (2011, March). An Experimental Study of Group Idea Generation Techniques: Understanding the Roles of Idea Representation and Viewing Methods. Journal of Mechanical Design, 133, 031008-1-031008-15.
Nobel, M. (2013). Product Concept Generation. Retrieved from Tufts University website: http://sites.tufts.edu/eeseniordesignhandbook/2013/product-concept-generation/
Nike
Target Markets
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…
References
CIA World Factbook (2015). United States. Central Intelligence Agency. Retrieved April 19, 2015 from https://www.cia.gov/library/publications/the-world-factbook/geos/us.html
Cohen, S. (2011). The significance of clothing for female athletes.UK Sports Coach.. Retrieved April 19, 2015 from http://www.sportscoachuk.org/blog/significance-clothing-female-athletes
Harb, J. (2013). Recognising and profiting from growing niche markets. The New Economy. Retrieved April 19, 2015 from http://www.theneweconomy.com/strategy/profiting-from-growing-niche-markets
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,…
Corporation-SWOT Analysis
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…
References
Jones, A. (2013). SWOT analysis: A tool for making better business decisions. Washington, D.C.: U.S. Dept. Of Agriculture, Risk Management Agency
Garcia, R. (2014). Creating and Marketing New Products and Services. New York: CRC Press
http://www.polyone.com/en-us/Pages/default.aspx
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…
Marketing Campaign
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…
References
Gluck S. (2013). Product and Brand Strategy. The Houston Chronicle. Retrieved April 28, 2015
from http://smallbusiness.chron.com/product-brand-strategy-3218.html
Kent B.M. (2004). The Pricing Strategy Audit. Cambridge: Strategy Publications.
Magloff L. (2013). Push and Pull Promotional Strategy. The Houston Chronicle. Retrieved April
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…
Works cited
Hoffmann, Stefanie. Are the 4 P's of International Marketing of Equal Importance to All Firms?
What Factors Might Cause Some to More or Less Important Than Others?: A Short
Article. Mu-nchen: GRIN Verlag GmbH, 2008. Internet resource.
Tocquigny, Rick, and Andy Butcher. When Core Values Are Strategic: How the Basic Values of Procter & Gamble Transformed Leadership at Fortune 500 Companies. Upper Saddle
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…
References
Andritsos, D., & Tang, . (2010). Launching new products through exclusive sales channels. European Journal of Operational Research, 204(2), 366.
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.
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.…
References:
Andersen, M. (2009, October 16). Mattel Settles Lawsuit Over High Levels of Lead in Chinese
Toys. Retrieved June 10, 2012, from http://www.usatoday.com/money/industries/retail/2009-10-14-mattell-lead-in-toys-settlement_N.htm
"CPSC Overview." (n.d.). U.S. Consumer Product Safety Commission. Retrieved from Consumer Product Safety Commission website: http://www.cpsc.gov/about/about.html
Lacorte, V.L. (n.d.). Mattel, Inc.: The Lead paint Recall. Retrieved from Tuck School of Business
Product ecalls and How it Affects the Company
Product ecalls
Traceability
Industry effected
Healthcare ecalls
Food Industry ecalls
Instances of Product recalls
Effects on the Company
Financial Loss
Loss of reputation
Legal and regulatory issues
Handling of Product ecalls
Treatment of ecalled Products
Communications Strategy
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…
References:
Ganesan, S. (Ed.). (2012). Handbook of Marketing and Finance. Edward Elgar Publishing.
Germann, F., Grewal, R., Ross Jr., W.T., & Srivastava, R.K. (2013). Product recalls and the moderating role of brand commitment. Marketing Letters, 1-13.
Granata, L.A., Flick Jr., G.J., & Martin, R.E. (Eds.). (2012). The seafood industry: species, products, processing, and safety. Wiley. com.
Sodhi, M.S., & Tang, C.S. (2009). Modeling supply-chain planning under demand uncertainty using stochastic programming: A survey motivated by asset -- liability management. International Journal of Production Economics, 121(2), 728-738.
Product Marketing
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…
References
Ecofine.com, (2011). Differentiation strategy. Integrated knowledge. Retrieved October 26, 2010
from http://www.ecofine.com/strategy/Differentiation%20 strategy.html
Kim. T. Gordon,(2004). Pros and Cons of expanding your product line
Retrieved October 26, 2010 from http://www.entrepreneur.com/article/71094
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…
References
Folkestad, J.A., & Johnson, R.L. (2001). Resolving the conflict between design and manufacturing: Integrated rapid prototyping and rapid tooling (irprt). Journal of Industrial Technology, 17(4), 1-7. Retrieved from http://atmae.org/jit/Articles/folkestad072601.pdf
Mukhopadhyay, S.K., & Gupta, A.V. (1998). Interfaces for resolving marketing, manufacturing and design conflicts: A conceptual framework. European Journal of Marketing, Vol. 32 Iss: 1/2, pp.101 -- 124. DOI: 10.1108/03090569810197499
Pei, E., Evans, M., & Campbell, I. (2007, October). Them and us? exploring the collaboration between industrial designer and engineering designers. Paper presented at International council of societies of industrial design congress, San Francisco, CA. Retrieved from http://www.icsid.org/education/education/articles491.htm
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…
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…
Works Cited:
No author. (2012). Pricing strategies -- penetration pricing. Tutor2U.net. Retrieved February 24, 2012 from http://tutor2u.net/business/marketing/pricing_strategy_penetration.asp
QuickMBA. (2010). The product life cycle. QuickMBA.com. Retrieved February 24, 2012 from http://www.quickmba.com/marketing /product/lifecycle/' target='_blank' REL='NOFOLLOW'>
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
Product
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
Price is the thing on which the consumers emphasize a lot. The buying power…
References
Alvin, J (2006), Marketing: An Introduction, Prentice Hall Publications
Brannan, T (1995), a Practical Guide to Integrated Marketing Communications, John Wiley & Sons Professional Publications
Baker, J (2007), the Marketing Book, Curtin University of Technology Publications
Parmerlee, a (1993), Product Analysis: Selecting the Right Product, McGraw Hill Publications
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…
Works Cited:
eHow. (2011). Product life cycle in technology. eHow Money. Retrieved April 30, 2011 from http://www.ehow.com/about_5472559_product-life-cycle-technology.html
QuickMBA. (2010). Product life cycle. QuickMBA.com. Retrieved April 30, 2011 from http://www.quickmba.com/marketing /product/lifecycle/' target='_blank' REL='NOFOLLOW'>
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.…
References
Abramovici, M. (2007). Future trends in product lifecycle management (plm). Springer-Verlag Publishing, London, UK. (pp. 665-674).
Mike Adami-Sampson. (2007, February). Design for environmental compliance. Control Engineering, 54(2), 12-14.
Vidhi A Chaudhri. (2006). Organising Global CSR: A Case Study of Hewlett-Packard's e-inclusion Initiative*. The Journal of Corporate Citizenship,(23), 39-51.
Deathe, A., MacDonald, E., & Amos, W.. (2008). E-waste Management Programmes and the Promotion of Design for the Environment: Assessing Canada's Contributions. Review of European Community & International Environmental Law, 17(3), 319-334.
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…
Bibliography
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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…
References
Ostlin, J., Sundin, E., & Bjorkman, M. (2009). Product life-cycle implications for remanufacturing strategies. Journal of cleaner production, 17(11), 999-1009. Retrieved from http://liu.diva-portal.org/smash/get/diva2:18328/FULLTEXT01
Simon, M. (2010). Product Life Cycle Management. Longer Lasting Products: Alternatives to the Throwaway Society, 351.
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…
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Figure 2:
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…
References
Bilek, G.. (2010). The Value of Information Sharing in a Build-to-Order Supply Chain. The Business Review, Cambridge, 15(1), 131-136.
Ernst, H., Hoyer, W., Krafft, M., & Krieger, K. (2011). Customer relationship management and company performance -- the mediating role of new product performance. Academy of Marketing Science. Journal, 39(2), 290-306.
Finnegan, D., & Currie, W.. (2010). A multi-layered approach to CRM implementation: An integration perspective. European Management Journal, 28(2), 153.
Gunasekaran, a., & Ngai, E.. (2009). Modeling and analysis of build-to-order supply chains. European Journal of Operational Research, 195(2), 319.
Product Lifecycles
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…
References
Hickey, K. (2004). McDonald's tall order. Traffic World, (0041073), 1-10.
Hoffman, W. (2006). There Lovin' Logistics. Traffic World, (0041073), 1-20.
Martin, R. (2002). Keep your eye on supply side ball when swinging for a new-product home run. Nations Restaurant News, 36(27), 25-26.
Petrak, L. (2005). Shining the golden arches. National Provisioner, (0027996), 60-61,64-65,68-69,72-73.
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…
References
Lovin, C. & Yaptangco, T. (2006). Best practices: Measuring the success of enterprise testing. Dell.com. Retrieved May 4, 2014 from http://www.dell.com/downloads/global/power/ps3q06-20060252-Yaptangco.pdf
PERI. (1999). Benchmarking, best practices and performance measurements for public entity management. Public Entity Risk Institute. Retrieved May 4, 2014 from http://www.riskinstitute.org/peri/images/file/Benchmarking_Guidelines.pdf
For second-tier PC manufacturers this is the phase of the product lifecycle where pricing becomes the competitive weapon of choice, and in many cases, the other aspects of the marketing mix are ignored. Pricing as the only differentiator used during this phase often impacts the largest, most capital-intensive vendors the greatest. Prior to their acquisition by HP, Compaq was well-known for having one of the highest cost structures in the industry, which inevitably lead Compaq to offer price protection on inventories that are obsoleted due to lack of sales through distribution channels (Lee, Padmanabhan, Taylor, and Whang 2000).
The next phase of the product lifecycle is typically called the maturity phase. For products that have been successfully launched and nurtured through their lifecycles, this is the phase where sales are at their peak, the cost per customer is low, and as costs of the products' development have been covered in…
References
Barry L. Bayus (1998). An analysis of product lifetimes in a technologically dynamic industry. Management Science, 44(6), 763-775. Retrieved December 10, 2007, from ABI/INFORM Global database. (Document ID: 32306221).
Jim Burruss, Dorothea Kuettner. (2002). Forecasting for short-lived products: Hewlett-Packard's journey. The Journal of Business Forecasting Methods & Systems, 21(4), 9-14. Retrieved December 11, 2007, from ABI/INFORM Global database. (Document ID: 305703281).
George Deltas, Eleftherios Zacharias. (2006). Entry order and pricing over the product cycle: The transition from the 486 to the Pentium processor. International Journal of Industrial Organization, 24(5), 1041. Retrieved December 12, 2007, from ABI/INFORM Global database. (Document ID: 1152034371).
Mika Gabrielsson, VH Manek Kirpalani, Reijo Luostarinen. (2002). Multiple channel strategies in the European personal computer industry. Journal of International Marketing, 10(3), 73-95. Retrieved December 11, 2007, from ABI/INFORM Global database. (Document ID: 212269951).
toothpaste known as Crest. The toothpaste which was introduced back in 2008 by P&G, has accrued a remarkable market share because of its merits, nevertheless it has weaknesses worth noting. Of significance, it is patented using a harmless enamel-whitening component that brushes away stains from teeth and smoothly whitens them. It eliminates 80% of teeth stains within 14 days. Crest uses a packaging and logo designed in white and bright blue colors to attract adults seeking whiter, cleaner teeth and fresher mouth. This toothpaste is available in three sizes aimed at individual buying and case capacities aspects that guarantee suitability among different customers (Robertson).
Furthermore, there is remarkable availability of Crest to its end users as the product is offered for acquisition in drugstores, super-markets, discount stores for instance Target and almart, warehouse outlets, for instance Costco and Sam's Club, and numerous drugstore websites found online. This is advantageous, since…
Works Cited
"3-D WHITENING: The Science Behind a White, Bright and Beautiful Smile." n.d. Web. 15 Oct. 2016.
Robertson, Ethan. The marketing mix.prezi.com, 2013.Web. 15 Oct. 2016.
Tisdale, Jerrica. Crest 3D white vivid toothpaste review. 2011. Web. 15 Oct. 2016.
Branding
The product that we will be working with is fried cricket snack called Chapu. This is based on the Mexican chapulines, or fried crickets, that are found in many areas of Mexico, including Mexico City, Oaxaca, Puebla and other south-central regions. Furthermore, Southeast Asians like Vietnamese and Thai are quite well-known for their eating of friend crickets, locusts and these types of things. There is an unserved market in the United States in a couple of ways -- first because these ethnic communities have been ignored with these products, but more important because there is a broader community that has never seen these products.
Crickets are easy to raise, and a highly efficient source of protein. When they are fried, they become crunchy, and take well to seasoning. In that way they are quite similar to other friend snacks that are usually made from starches. That they are rich…
References
Cabral, J. (2013). Eat your crickets: Los Angeles is the chapulin capital of the U.S. Los Angeles Times. Retrieved May 3, 2014 from http://www.latimes.com/features/food/dailydish/la-dd-eat-your-crickets-los-angeles-chapulin-capital-20130709,0,6370962.story#axzz30fRoQEln
CIA World Factbook: United States (2014). Retrieved May 3, 2014 from https://www.cia.gov/library/publications/the-world-factbook/geos/us.html
InfoPlease (2014). Hispanic-Americans by numbers. InfoPlease. Retrieved May 3, 2014 from http://www.infoplease.com/spot/hhmcensus1.html
https://www.youtube.com/watch?v=6pnUsPQPpcE
This contest would be entirely hosted on YouTube with links to the Fearless site, showing every uploaded video entry. Having a contest like this brings the voice of the Fearless customer into the very center of their social media strategy and also sets the foundation of a highly effective virtual community. User-generated content is especially powerful in getting potential customers to see how they are part of the broader customer base, seeing how others like them are using the products shown (ndrew, Fischer, Yongjian, 2012). For Fearless this will also break down the barriers to having customers share more information, thereby creating a more effective dialogue than they are having today. The essence of any effective branding strategy is the embedding of messaging in social networks that support and strengthen the overall customer experiences a given product or service is attempting to convey (Zaglia, 2013). The YouTube Video Contest, with…
As a first step in creating this online community, Fearless needs to sponsor more contests for customers, where the winner gets a free year's supply of all the Fearless Chocolate they want (limit of 250 lbs.) and a free trip to Berkeley, California to see the manufacturing of chocolate. Berkeley is just across from San Francisco, so giving a free week in that city would be a very big motivator for people to produce entries. This contest would be entirely hosted on YouTube with links to the Fearless site, showing every uploaded video entry. Having a contest like this brings the voice of the Fearless customer into the very center of their social media strategy and also sets the foundation of a highly effective virtual community. User-generated content is especially powerful in getting potential customers to see how they are part of the broader customer base, seeing how others like them are using the products shown (Andrew, Fischer, Yongjian, 2012). For Fearless this will also break down the barriers to having customers share more information, thereby creating a more effective dialogue than they are having today. The essence of any effective branding strategy is the embedding of messaging in social networks that support and strengthen the overall customer experiences a given product or service is attempting to convey (Zaglia, 2013). The YouTube Video Contest, with the grand prize being a trip to San Francisco and Berkeley, in addition to a year's supply of chocolate, will generate tens of thousands of entries, create a very strong dialogue between the company and its customers.
Pinterest is one of the most rapidly-growing social networking sites for sharing images, and is being used widely by consumer brands to further engage with prospects and customers. Fearless is a natural fit for Pinterest, and needs to also sponsor a recipe contest on this site, where customers are asked to provide pictures and recipe instructions of what they make from the company's chocolates. The first prize could also be a trip to an Francisco and tour of the factory, in addition to attendance at a local cooing school in the city, which is known for its excellence in culinary arts. This would again bring the voice of the customer directly into the social media efforts, initiate and sustain very strong level of communication with them and best of all, bring visual imagery showing customers' commitment to the brand. What Fearless needs to do is create a very strong connection with customers where their stories come out in social media, and the majority of traffic on social media is about them. Fearless will succeed by making customers the rock stars of their social media efforts.
In terms of Facebook, the company continues to rely on this social network for promoting advertising and engaging in limited conversations with customers. What' needed on Facebook is a much more interactive approach to communicating with and connecting with customers. The company recently hosted a