...Kevin Dunn MGT 364- Section 01 Research Paper: Product Development Dr. Denton November 21, 2013 Table of Contents: I. Introduction……………………………………………………………………3 II. Developing Products………………………………………………………….4 III. Product Differentiation……………………………………………………..10 IV. Conclusion and Recommendations ………………………………………..13 V. Works Cited…………………………………………………………………..15 Introduction Product development is one of the most important aspects to any business. New and innovative products have placed companies like Apple, Google and Samsung on the map. Companies like General Motors have been able to rebound from bankruptcy thanks to product development. On the other hand, companies like Eastman Kodak have fallen by the wayside due to their inability to keep up with new products. According to an article in the European Journal of Engineering Education, “Product development is the set of activities starting with the perception of a market need and ending in the production and sale of a new product satisfying that need” (Silva, Arlindo, Elsa Henriques, Aldina Carvalho). By successfully developing a product firms can see increased profits as well as an increased market share. To the helicopter game players, proper product development can set one team apart and earn them more profits. The purpose of this research paper is to explain how to successfully build a product through the phases of product development and product differentiation. As well as to give recommendations...
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...Automated Toilet Paper Dispenser - Product Development Proctor & Gamble, an international leader in the paper products industry is in development of an automatic toilet paper dispenser. This proposed product is a complimentary product to the already available, touch free soap and paper towel dispensers. The proposed toilet paper dispenser has both commercial and home use applications. Team C is in the process of developing a marketing plan for this product and is considering several factors to determine the validity of these continued efforts. Team C will consider the markets needs and growth potential, conduct a brief strength, weakness, opportunity and threat (S.W.O.T) analysis, evaluate the competition, define the product and justify the continued development. Market Needs Market Needs Analysis allows one to meet the needs of the market and prepare for future demands. Market needs depict what appeals to the target consumer and allows one to construct the marketing message to highlight the features that attract them. Analyzing the market needs also compares products and consumer experiences to competitors, allowing one to provide the consumer's market needs in a way the competition cannot. Market Needs Analysis would expose possible market risks, buyer behaviors, and pricing risks. One should always try to define the product offerings in terms of target market needs and understand the unmet needs of the consumers. Market Growth As the world moves forward in the age...
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...manufacturers of tissue, pulp, paper, packaging, building products and related chemicals. They have approximately 300 manufacturing facilities across North America, South America and Europe, ranging from large pulp, paper and tissue operations to gypsum plants, box plants and building products complexes. GP believes in creating long-term value for their company, customers and business partners. Their more than 40,000 employees are guided by Market Based Management® principles, which are based on integrity and compliance. These principles challenge their employees to achieve world-class excellence by constantly finding new and better ways to manufacture products and support the needs of their customers. GP also strongly believes in making significant contributions that support their neighbors and the environment. Through the Georgia-Pacific Foundation and various facility programs, GP employees work closely with non-profit organizations to promote growth and sustainability in the community. Recent innovations and company milestones: 2003: Introduced enMotion™ automated touchless paper towel dispensers and EasyNap napkin dispensers. [pic][pic] 2005: In a $21 billion transaction, Georgia-Pacific was acquired by Koch Industries and became a privately held, wholly owned subsidiary, continuing to operate from its Atlanta headquarters. 2007: Georgia-Pacific celebrated 80th year in business. Georgia-Pacific consumer products you may have heard of include: ...
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...1928 — Charmin was manufactured by the Hoberg Paper Company in Green Bay, Wisconsin. The design was described as "charming" by an employee, and the Charmin brand name was born (pronounced "shar-min"). The Charmin name and logo were officially registered by Hoberg Paper. Charmin was designed to look like feminine fashions of the day. 1932 — Charmin introduced its 4-roll package. 1940 — Modern type style replaced script lettering on the product label. 1950 — Hoberg changed its name to Charmin Paper Company and continued to produce bath tissue, paper napkins, and other paper products. 1953 — A new baby graphic was added to the packaging to symbolize the gentle softness and quality of Charmin. The "Charmin Baby" was born and took its place along with the "Charmin Lady" on the packaging. 1956 — The "Charmin Lady" was replaced with "Charmin Babies Your Skin" graphics on the product packaging. 1957 — Procter & Gamble (P&G) acquired Charmin Paper Company. The original Charmin family included paper towels, paper napkins, facial tissue, and bath tissue. P&G eventually discontinued all products except bath tissue, which it continued to distribute on a regional basis. 1964 — The Mr. Whipple (aka "George the Grocer") character was created to promote the "squeezable softness" of Charmin. Mr. Whipple appeared for more than 20 years in Charmin television, radio, and print advertising. Charmin became the first one-ply bath tissue to add perfume. 1970 — Charmin television commercials...
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...Case ANACOMP INC. By Hanyu LIU 6260268 1. Identify all the economic entities involved in the development of Anacomp’s CIS software system. The economic entities include Anacomp itself, a limited partnership RTS Associates, banks as co-developers- four CIS Primary Development Banks, and other banks contracted with Anacomp to provide loans or advisory services in the CIS project. 2. Describe the contractual arrangements between the economic entities involved in the CIS development. Who bears the majority of the risk of failure of the development effort? Who stands to gain most if the development effort succeeds? Are Anacomp’s shareholders better off or worse off with this arrangement, relative to in-house development of the system? For the contractual arrangements between Anacomp and RTS Associates: the two had entered into an agreement in November 1979. Anacomp agreed to develop the CIS system on behalf of the partnership. In return, RTS agreed to pay a development fee of $6 million, of which $2.2 million was paid in 1980. Upon completion of the development of the CIS system, Anacomp agreed to market CIS for five years on a commission basis. In addition, if the CIS development expenses exceeded $6 million and therefore RTS was required to pay further development fees, Anacomp agreed to loan RTS, without recourse to the limited partners, up to $1.5 million to complete the CIS system. Anacomp also had the option to acquire all rights to the CIS system at the greater of...
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...Assignment Project Description No.2.a Marketing : Skills Assessment Overview For this assignment, you will analyze a brief Harvard Business case focusing on New Product Development (NPD) issues. The case “ TruEarth Healthy Foods: Market Research for a New Product Introduction” requires you to decide whether to launch a new product, estimate demand under different conditions/assumptions, and assess other factors relevant to the go/no go decision. The link to download the case and the Excel template will be given to you in class. Project Requirements Case Questions to Get You Started The case questions listed below are provided to get you started in reading, interpret-ing, and analyzing the case. They are not meant to provide a structure to your memo, so please don’t focus on answering these questions in your one-page write-up. 1. Why was Cucina Fresca pasta successful? How would you compare the pizza opportunity to that for pasta? How would you compare the actual product development process for each? 2. Using the forecast model for pasta shown in Exhibit 5, what is your forecast of the demand for pizza? 3. What can the TruEarth team learn from Exhibit 6 about how consumers view pizza? 4. How do the pizza concept test results (Exhibit 7 & 8) compare with the findings for pasta (Exhibit 3 & 4)? 5. Is there a first-mover advantage in pizza similar to fresh pasta? 6. How do you interpret the findings in Exhibits 9 & 10 to evaluate interest in pizza? 1|Page...
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...entities involved in the development of Anacomp’s CIS software system. Anacomp, a limited partnership: RTS Associates - BANKSERV 10000, CEFT, CDA and CIBS, thirteen major banks including the National Bank of North America in New York, the Shawmut National Bank in Boston, Provident National Bank in Philadelphia and the First national Bank in Kansas City as advisory banks. 2. i. Describe the contractual arrangements between the economic entities involved in the CIS development. Anacomp would develop the CIS system on behalf of the partnership. In return, the four banks collectively contributed $6 million and 24 software development people for 2 years to the project. The same considerations were present in each of the four subsequent partnerships. Each partnership assumed development risks; except for BANKSERV 10000. Any product developed becomes the property of the partnership. Upon completion of the development of the CIS system, Anacomp agreed to market CIS for 5 years on a commission basis. Anacomp also had the option to acquire all rights to the CIS system at the greater of its appraised fair market value or RTS’s investment plus a fixed profit but is under no obligation to exercise this option. RTS had the right to extend Anacomp’s 5-year marketing agreement an additional 5 year or to cancel it if Anacomp did not use its best efforts to market CIS. If the CIS development expenses exceed $6 million, the RTS was required to pay further development fees, Anacomp agreed to...
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...THE PATTERNS OF SUCCESS IN PRODUCT DEVELOPMENT KIVANC UNCU Applied Business Research And Communication Skills Dr. Peggy Bilbruck June 21, 2014 ABSTRACT Getting a successful result in product development can be considered a typical purpose for any R&D business. The purpose of the paper is to make a good solution the differences of success at R&D project levels. Using the verification from industrial example, the paper shows that the sophistication of the concept of achievement in product development. The paper finalizes that there is often just an indefinite correlation between aspects of R&D success –financial, technical and project management. The main idea of the paper is on the development of investment products for the paper industry. Keywords: R&D success, product development, Performance measurement INTRODUCTION Industrial research and development (R&D) uses science and technology to create new things or it improves products or processes for profit making companies. Product development, which is a very important part of R&D, can see the situations that are expected to improve a company’s competitive advantage and increase future success in periods. R&D management has been an essential point with the increase in investments. At the same time, performance measurement also has been an important contribution to increase of product development. Comparably, the research usually has been used a theory by companies instead...
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...MANAGEMENT 163 Entrepreneurship and New Product Development Winter 2015 Draft Syllabus January 2015 Instructor: Farhad D. Rostamian, PhD., MBA Office and Office Hours: By arrangement Teaching Assistant: TBD E-mail: fdrostamian@gmail.com Messages: Valerie Myers, (310) 206-3011, vmyers@anderson.ucla.edu Enrollment: Open enrollment. Time: Wednesdays, 4 to 7 PM First Class meets: Wednesday, January 7 Room: Anderson Complex, Cornell Hall, D-307 Course Description New products are the lifeblood of any corporation and the cornerstone of any economy. Without expanding the product portfolio, any modern corporation can quickly succumb to competition and lose significant market share, or even be totally dis-intermediated. This phenomenon has been intensified with the advancements in digital economy. The innovation process has been significantly altered as a result of the impact of digital economy across all industries and markets. While most companies recognize the need for new products, not all such new products that are introduced to the market are successful. And even a smaller percentage can stand the test of time and reach significant market share or achieve resilient popularity. Innovation is one of the key drivers of making new products. We will examine the process of innovation and new product development and discuss the associated paradigms and success factors (through the case and class discussions). This course is designed to help students deepen...
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...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 could efficiently execute. There are three important aspects discussed in this paper. First is project team’s...
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...be taken and the reason. Chris Martinas, VP of Product Development and Pat Lambert, the new Director of Marketing have been collaborating on a new product that has to be initiated by the final part of the year. The new product happens to be the iScanner, which they have previously promoted except it will have new features, which makes it new and more advanced. The two of them have been figuring out a way to lower the budget by 15% and try not to not dismiss current employees. They have the funds of 400 K to use and have to convene with the right departments to launch the project. There was a problem through the emails among Pat Lambert and Kelly Thomas, Chief Engineer of Product Software. Kelly designed the original iScanner that was the groundbreaker in the developing retinal scanning security business. After discussing with you about the making of the product and not going outside 400K, Chris emailed Pat and Kelly on the way to do that and the way they could reach the deadline in August. The initial reply to that email was from Pat Lambert, the email was very optimistic and stated how Lambert did not think that it was going to be an issue to generate. The email after that was from Kelly saying that the team was placing themselves in a bad area with this project. Kelly asked Pat, “How can we maintain our existing service with our already short staff, and find time to make up something new”? She stated that “product development just doesn’t work that way”. The next email was...
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...BUIILDING DEEP SUPPLIER RELATIONSHIP This paper highlighted how Japanese car manufacturing company namely Toyota and Honda build an important relationship with their suppliers and gain competitive advantage from their suppliers. Currently, businesses are trying to have better quality of their product, develop new processes and products faster than their competitors while reducing cost that force them to rely heavily on their suppliers. According to experts, American firms should learn from Japanese competitors to build supplier Keiretsu that is close-knit network of vendors that constantly learn, improve, and prosper along with their parent companies. Although American companies have difficult time to implement the Keiretsu, the model is implemented very well by Japanese companies operating in the US, Mexico and Canada. Toyota and Honda has been able to reproduce the Japanese suppliers network system in US which is a Western culture and they are now having the best relationship with suppliers in the US automobile industry that allows them to reduce cost have the fastest product development processes while improving quality endlessly. Surprisingly, they even have better relationship that US companies with US suppliers. Toyota and Honda set high standards in order to be very competitive and expect their partners to do just like them. The automobile company want to maximize the profit by helping their suppliers to fulfil their expectation but without more. The keyword is...
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...57–73 DOI: 10.1007/s10660-006-5988-7 Community based innovation: How to integrate members of virtual communities into new product development Johann Fuller · Michael Bartl · Holger Ernst · ¨ Hans Muhlbacher ¨ C Springer Science + Business Media, LLC 2006 Abstract Online consumer groups represent a large pool of product know-how. Hence, they seem to be a promising source of innovation. At present, except for open source software, little is known about how to utilize this know-how for new product development. In this article we explore if and how members of virtual communities can be integrated into new product development. We explain how to identify and access online communities and how to interact with its members in order to get valuable input for new product development. This approach we term “Community Based Innovation.” The Audi case illustrates the applicability of the method and underscores the innovative capability of consumers encountered in virtual communities. Keywords Online communities . User innovations . New product development . Virtual customer integration Customers’ wants and their acquired knowledge through the actual use of products make them an essential external resource for new product development (NPD) [12, 13, 37, 47, 65, 57, 71]. Some customers are not only knowledgeable but also able to develop their own new products [22, 50, 58, 67, 69]. Such innovative customers can be found in online communities J. F¨ ller u University of Innsbruck, Department...
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...MANAGEMENT – REACTION PAPER On the Case Study – FHE, Inc. June 30, 2012 submitted by: Caesar T. Michelena 1. What steps should Donaldson take to improve the new-product development process at FHE? * Even before a formal marketing request for a new product development is made, there should be a check-off from the VP for Corporate Development and Marketing. At this point, Phil Thomas will make an initial assessment if the proposed new product should even be considered for development, consistent with the corporate goals/strategies. * If this is OK’d by Phil, the concept conference can be set. Marketing (with the product manager-to-be) and Product Development Engineering. It is important that the product manager responsible for the new product idea (and who will be responsible on managing the business impact of the new product) should be closely involved from the initial conception. * The preparation of the TSAR (technical specification action report) should also involve the Product Manager, even on a regular update meeting basis, so marketing considerations could be included in its development. * Approval of the TSAR should include both Marketing; Engineering AND MANUFACTURING. Thus, before it goes to actual development of a prototype, the concerns of all the major components involved in the end result of a new product are taken into account. * After approval of the TSAR, the engineering development begins with a series of...
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...NAME / NOMBRE: STRATEGIC PRODUCT CREATION PROFESSORS / PROFESORES: T. Laseter TERM / TRIMESTRE: Second Term New products offer the lifeblood of any dynamic business organization. Given the increasing use of cross-functional teams in corporate product creation, you may have the opportunity to be a part of this critical process regardless of your planned functional focus. This course will draw upon the recently published book “Strategic Product Creation” (McGraw-Hill, December 2006) coauthored by the course professor. The book takes an executive view of managing corporate product development drawing upon the experiences of global organizations such as Disney Imagineering, Procter & Gamble, Mars Incorporated, Whirlpool Corporation, United Technologies, and IBM. The course will be largely case-based covering a range of industries from software development (Activision) to automotive (GM) but also include some hands on exercises and a group simulation. This course offers a general management view of product creation by exploring frameworks and case examples from a wide range of industries. It should serve students well who seek a career in a corporate environment or as a consultant serving large corporations. Broadly, the course will examine the key processes in corporate product creation including: Product Creation Leadership Product Idea Generation Technology Capabilities Product Creation Process Design The Competitive Product Portfolio People and Project...
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