...Thurman Consulting Thurman Consulting Chocoberry ProposaL July 2012 Chocoberry ProposaL July 2012 5555 Main Street, Chicago, State IL, 60643 Phone: 312.555.5555 Fax: 312.555.5551 thurmanconsult@gmail.com www.thurmanconsulting.com 5555 Main Street, Chicago, State IL, 60643 Phone: 312.555.5555 Fax: 312.555.5551 thurmanconsult@gmail.com www.thurmanconsulting.com Resellers such as sells representatives have firsthand knowledge of what their buyers look for and can make suggestions that drive key product changes that meet customers’ needs real time. Resellers can help quickly customize products and understand price points and product restrictions. Competitors have already penetrated the market and Chocoberry already has an excellent source of information on niche products that can be expanded based on their successes and failures. The competition can be used as a resource that provides insider knowledge on what products are growing and how consumers utilize them. Technology companies have traditionally led with using unique methods to solicit consumer feedback. The food industry has in most recent years utilized the same methods to help grow their brands and reduce cost. Crowdsourcing, is a method of utilizing the public to solicit ideas and feedback on concepts. From design to product feedback this method is cost effective and has the ability to reach traditional and nontraditional customers. Each method should be considered at certain phases...
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...paper 1 You Decide Chocoberry Case Study Idea Generation 1. What techniques will you propose to CB to generate ideas that can be developed into viable concepts? There are three types of idea generation that could help into developing a viable concept: * The evolutionary idea derives from somewhere else, taking something that already exists and improves on it. (1) * Symbiotic: method of idea creation when multiple ideas are combined, using different elements of each to make a whole. (1) * Computer-assisted discovery: uses a computer in order to widen possibilities of research and numeric possibilities. (1) 2. Of the many methods for ideation offered in contemporary literature, which represents the best for CB in this situation, and why? The first and most important will be the evolutionary idea because Chocoberry should market chocolate products with basic health claims for the United States’ retail consumer market. They already make the base and distribute it so it is a great idea to get into that market. After using the evolutionary method I would recommend using the computer-assisted discovery as a method of crowdsourcing that can give ideas that the customer need/wants. These products are being developed by the technical departments as bar goods, such as one ounce or larger molded slabs of chocolate in dark, milk, inclusion-containing (nuts, fruit, etc.) products. 3. Who might be selected to perform the ideation, and why? Why might you not select certain groups...
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...Cambridge in the U.K.” With this being said, new ideas to generate revenue would be utilizing CB in ways that would be healthier and options for the consumers. Ways to use the CB could be expanded in different ways. Since you have close relationships with the Q&Q, Neshey, Cadmerry and Hershal you could propose to increase their purchase to produce products such as chocolate wine or mix sweet and salty by telling them to bring back dark chocolate with a twist. You could produce chocolate with bacon, or chocolate covered cereal. These ideas are for the developed consumers that are purchasing your product ongoingly. For prospects, you could introduce the health benefits of chocolate and different ways to put in use besides feeding yourself. “According to Marlies Spinale, director of Tru Spa, "Like many other antioxidants, cocoa polyphenols are thought to offer the skin protection from free-radical damage caused by sun, pollution, stress, alcohol consumption and other factors. I believe that we will hear more about the benefits of chocolate in skin care." I think that producing new products and distributing would be something that would be too much for a team of 10, so by developing new retail packaged products may be a waist of money. Of the many methods for ideation offered in contemporary literature, which represents the best for CB in this situation, and why? Ideation is the creative process of generating, developing, and communicating new ideas, where an idea is understood as a...
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...Chocoberry Case Study Idea Generation The techniques that I would propose for CB would be Matrix Analysis (Creative Advantage, 2000), brainstorming (EinsteinDiva, 2010) and whiteboarding (Matimore, 2011). It is important to note that matrix analysis analyzes the situation based on a number of criteria that are then cross evaluated through the matrix, which is basically like a table that it used to represent a set of variables for the top row and another set of variables for the leftmost column. Through the use of the matrix analysis technique, CB could develop new ideas based on the possible combination of variables that are identifiable in the situation of CB. On the other hand, the brainstorming technique involves an in-depth discussion of ideas in a close group, such as the leaders in the case of CB. This discussion would be used to ensure that the different ideas of these leaders would be considered for the decision that would be made in order to make the changes that are needed in the organization so that the company could take advantage of the changes in the market. In contrast, the whiteboarding technique involves the use of a board or a whiteboard. In this technique, the whiteboard would be used to write or paste certain ideas onto the board for a given period of time. These ideas would then later be analyzed in terms of their connections to each other. It is arguable that whiteboarding is considered as the most appropriate for the case of CB, because the company needs...
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...Article Overview: The persistent success of technology based companies depends on their proficiency in creating next generation products and their derivatives. They found that most of the companies were unable to complete such projects on schedule. The companies also had difficulty developing the derivative products needed to fill the gaps in the market that their next-generation products would create. The root cause problem was in the product definition phase and not spontaneously; all the successful companies have learned how to handle the technical and marketplace uncertainties in their product definition processes. Paper describes the actions of companies used as best practices which can improve the definition phase of any company's product-development process. They have grouped the techniques into three categories and carefully lay out the steps that companies need to take as they work through each stage. They can help companies capture new markets without major delays and tools used by managers facing the uncertainty that goes with developing products for a global marketplace. The product strategy being first step to create a clear map of company’s product stream for next 2 years. The challenge is to keep no holes for competitors to exploit opportunities. This step defines the product streams to include both products and their derivatives and it may not be final and can be revised at various miles stones in future. The second step to develop project organization which...
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...Strategic Management Seminar Work Topic: “Classification of Strategies” Moritz Irmen 14.11.2012 University of South Bohemia Ceske Budejovice Table of Contents 1. Introduction 2. Strategies in General 1. Market Strategy 2. Product and Service Strategy 3. Organization Strategy 4. People Strategy 5. Finance Strategy 3. Ansoff Matrix – Applied Strategies to four different senarios 1. General Information 2. Product Penetration 3. Product Development 4. Market Development 5. Diversification 4. Conclusion 1. Introduction Strategies are often being used to adapt to different scenarios in the market and push the company in the better situation to handle the new and often inexperienced environment. They are specifying the organization’s mission, vision and objectives, developing policies and plans, often in terms of projects and programs, which are designed to achieve these objectives. The wide rage of strategies, in every field/part in an organization, allows companies to find the right strategy for implementation in different kinds of scenarios. 2. Strategies in General 1. Market Strategy Market strategy is an essential part of the strategic management, in order for companies to succeed in the comparative market that exists today. This strategy takes in account the company’s relationship to existing and potential customers, its knowledge...
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...Its logo—the red square with the rounded white letters—is immediately identified by most of the developed world and to a bunch of developing nations as well.” It is for this reason I was surprised to find an article written about Lego's comeback. The article states that the company’s problems began in the late 1990s, when Lego stopped focusing on design and started venturing off into new product development like Galidor, in which the company co-produced a kids’ TV show basically to spark interest in the product. The Galidor did not require building skills or much imagination, which is the hallmark of Lego products. The show and the product line sparked little interest. Lego was foundering. It was at this time that Lego gave designers free rein to come up with imaginative creations. And they took it and went overboard. By 2004, the number of components went from 7,000 to 12,400 and supply costs sharply increased. However, just as design pushed Lego to the precipice, it too helped bring the company back—but this time with parameters. Gradually the company started reshaping its product line from futuristic fire trucks to fire trucks that were recognizable to kids and by 2008, the City line reclaimed it spot at the top of Lego’s portfolio and with parameters in place scaled components back down to 7,000. Going back to conventional designs kids could relate to helped bring the brand back with 7% of the global market. Greene, Jay. How LEGO Revived Its Brand. Businessweek...
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...1. What is product management? - The organizational structure within a business that manages the development, marketing and sale of a product or set of products throughout the product life cycle. It encompasses the broad set of activities required to get the product to market and to support it thereafter. 2. Why is it product management is important in the field of marketing? -Product management is important in the field of marketing so that you can define, develop, deploy and maintain products and services. 3. Give at least 10 breakthrough innovations that change our lives. a. Air conditioner – Cooler than electric fan great for hot climates. b. Electronic Mail – you can get your mail instantly c. Electronic Load – more convenient than prepaid cards because of its cheaper denominations and it is readily available everywhere. d. Mobile Phones – easy to carry than telephone and communicate. e. Digital Camera – easier way to view your picture right after you took it. f. Foldable Umbrella – you can carry it anywhere without any hassles. Fits easily in your bag. g. Automobiles – more easy to use for starters because of its automatic transmission/ h. Play Station Portable – you can carry it anywhere and you can get games just by downloading it. No need for Cd’s i. Washing Machine – easy way to wash clothes. No need to use your hands. j. MRT/LRT – easiest way to roam around Manila without getting caught...
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...HIMALAYA - Case Questions 1. In view of increasing interest among local consumers with regards to herbal products, what immediate steps should Embun Elit Take. Embun is well establishing in the current market with 200 ranges of products, they should go for market penetration strategy. This strategy involves attempts to increase the present buyers’ usage or consumption rates of the offering. The mix of marketing activities will enable them to capture bigger market or the volume of sales. The strategy inclusive of reduction in the product pricing by bigger promotion and by product in introducing new product or less favoured products. Heavier promotion in emphasizing the importance of herbal product in daily usage will enable them to capture wider markets especially the younger markets between 18 – 24 years old. These demographic are big and always on trend / or to be called the trend followers, with bigger promotional activities these market segment can be concurred and will be a long term customers due to the product knowledge that they had. In term of product Himalaya have about 200 product range that been offered and in Malaysia about 100 only due to the strict requirement of local authorities in safe guarding the local players and pharmaceutical restriction. Here Himalaya can work with local players to be part of Himalaya and produce the product with Malaysia resources. R&D plays a major role in getting a scientific write out for the certification and approval...
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...Base on the situation when there is little knowledge on what the new trend of toy is, it is wise to rely on the new product concept in the beginning. According to the case, the toy developer has formed some basic ideas of what she is looking for in a new toy: genuinely fun and secretly educational. However, she does not know how to make it come true and what will become attracted to kids. The new product concept will help solve partly of the issue. There are three inputs required in the process: Form, Needs/Benefits and Technology. For the benefit, the new toy should bring fun to the kids, and has some educational attributes in the parents ‘eyes as well. The Needs/Benefits should start first; otherwise, there will be a great risk of wasting money and time in producing an item that turns out unattractive to the target customer. Although she cannot survey kids and ask what problem they have, there are many other methods to collect information. She can examine customer’s needs by doing survey on the lead customers, staying close to the sale forces, suppliers, etc. After having a solid foundation on what the customer need, then the toy developer can move to the Technology and Form process. With the needs’ attributions in hand, she is now able to identify what physical characteristics the new toy will require, and what technology will be needed to make it happen. Relying on the new product concept process helps one see a bigger picture and provides a tool to make ideas come...
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...1. How was Samsung able to go from copycat brand to product leader? Samsung was able to go from copycat brand to product leader by using a “new product development” strategy (Kotler and Armstrong, p.261). According to Kotler/Armstrong new product development is defined as the development of original products, product improvements, product modification, and new brand through the firm’s own product development. In 1993, the CEO and chairperson, Lee Kung Hee decided to revamp the company’s management because he was not content to remain the best of the knock-off brands. Rather, he set high goals (to become the biggest consumer electronics company and to surpass Sony) and established a strategic plan to accomplish those goals. Samsung accomplished its goals in less than two decades. The first step that he took was idea generation. He hired a “fresh new crop” of young designers to produce new ideas that could get the company in the direction that he wanted it. Sleek, bold and beautiful products were the aim so that they could target high-end users to the company. Next idea screen was also implemented in the development stage. Each product had to pass the “Wow” test otherwise; it would have to go back to the drawing board for further improvement Samsung then went a step further by testing new product concepts. From Blu-Ray players that changed colors, Eco-fit monitors with transparent stands that gave the appearance of a floating monitor, to a small Pebble MP3 player that...
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...Introduction: A product is sold to meet a customer satisfaction. Deeply research is been rigged through the higher performance of service and product in a market in order to understand the need and deeds of the customer (Harris, 1996). Moreover, (Lewis, 2000) low input should build a vital output in a firm, operation that is not productive or active in a place to be eliminated or removed. This illustration goes not only to operation although to be considered in a highest priority for a product/ service (Morgan & Strong, 1998). It is well known that marketing and sales division are focusing on how to touch sensibility of the market by promoting product or service through brand, commercial advertisement and providing inside division with requirement of the market and meet satisfaction of customer needs. Key successful to explore the connection of the market requirement with division of the firms towards innovative business is through the concept illustration of order winners and order qualifier. Basically, understanding order winners, order qualifiers characteristics will help an enterprise to prompt, develop product in the marketplace. To understand more the concept of order winners and order qualifiers, the performance objective has come to further study distinguishing characteristics and features and its model impact through the process of an operation of each element. Order Winners: The best an enterprise that can exhibits competitive feature to a customers competing other...
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...Journal of Business Research 55 (2002) 389 – 400 Benefits associated with supplier integration into new product development under conditions of technology uncertainty Gary L. Ragatza,*, Robert B. Handfieldb, Kenneth J. Petersenc a Department of Marketing and Supply Chain Management, Eli Broad Graduate School of Management, Michigan State University, East Lansing, MI 48824-1122, USA b North Carolina State University, Raleigh, NC, USA c University of Oregon, Eugene, OR, USA Abstract In many industries, firms are striving to integrate material suppliers earlier into the new product/process development process. This involvement may range from simple consultation with suppliers on design ideas to making suppliers fully responsible for the design of components or systems they will supply. In this paper, we develop and test a conceptual model of the effect of elements of the supplier integration process on cost, quality, and new product development time, under conditions of technology uncertainty. Technology uncertainty is operationalized here, as the degree to which the product or process technologies employed in the project are new, complex, and/or rapidly changing. The results suggest that technology uncertainty have a negative impact on cost results, but no direct effect on quality or cycle time. The results also show that certain elements of the supplier integration process are more likely to be employed under conditions of technology uncertainty, leading to significant...
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...Strategicoptions | Internalconsistency | Externalconsistency | Feasibility | Competitiveadvantage | Option 1:Marketpenetration | * Consistent * Given the current strategic, operational and functional capabilities of ABL, it is evident that market penetration is highly consistent strategy. * Consistent with ABL’s key stakeholder requirements and strategic goals. * strong distribution channels and a highly automated warehousing and distribution systems, these systems will give the company an even greater advantage over its * competitors and provide solid base for continuing expansion. * its VMI system could respond quickly to change of customers’ demand * its bottling capacity could be used for its own manufacturing operations. * major manufacturing plant can process over one billion drinks per year * Using market data could enable responsiveness and flexibility | Consistent1, it is the second largestcompetitor in the broader nonalcoholicbeverage industry inAustralia, not far behind theleader.2, it has about 40% of thepackaged soft drink market inAustralia.3, there are still significantopportunities for growth in allnon-alcoholic beverages,Comparing with US.4, require achievement ofeconomies of scale - Theincreasing number ofacquisition will increasecompetition, as more and moreentities aim at reducing costand merging productionvolume. It should be furthernote that the biggestcompetitor will also be lookingsuch opportunities, andindustry rivalry will increase...
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...Every business owner wants to grow their business but it is often difficult to determine the best way forward. Here is a straightforward description of four different growth strategies and an explanation of how to determine which is best for your business. Igor Ansoff suggested that business owners’ ability to grow their businesses comes down to how they market new or existing products in new or existing markets. He outlines four distinct strategies: - Market Penetration – selling more of the same things to more of the same customers - Market Development – selling more of the same things to different customers - Product Development – selling new products or services to the same customers - Diversification – selling new products or services to different customers Using Ansoff’s matrix, business owners can evaluate each of the growth strategies in turn to assess which is likely to result in the best possible return. Market Penetration Market penetration is the easiest way to grow in an expanding market. However, it becomes more difficult as the market matures and competition increases. The obvious step is to increase advertising or add more sales people to increase sales. Alternatively, business owners can win business from competitors through competitive pricing, discounting, vouchers or other offers. Business owners can also boost sales by providing additional incentives to sales staff through commissions, bonuses or other reward schemes or by introducing customer loyalty...
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