...Product Innovation & Creativity Assignment Mobile Phone Report Table of Contents Introduction 3 Product concept 3 Secondary research 3 Primary research 5 Conclusion 6 Appendix 7 Bibliography 7 Figures 8 Questionnaire 8 Introduction Nowadays, the way of information transfer is changing rapidly as the change of advanced technology. People could communicate with each other more conveniently and effectively by the use of mobile phone. As the technology change of mobile phones, people not only use mobile phone to make a phone call, but also do something else. People can use mobile phone to watch TV, surfing on the internet, and take photo. By the way, the consumer needs for mobile phone may be different by their occupation and lifestyle. Therefore, the decision maker of the organization needs to know more about the customer needs and wants in order to handle the market opportunity successfully. Product concept Our concept is innovation and be creative to build a unique product experience for customers. And provide close service and convenience to customer in the daily life and working. Secondary research Secondary data which means the information has already been collected or already existed for specific purpose (Crossman, 2013). Secondary research could help an organization to know the current situation of market and competitor. It’s very help for organization to evaluate current potential opportunity within the market. From the Euromonitor...
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...and IS communities 7 Market analysis – What’s driving the need for BISC? 8 3.1 Market definition 8 3.2 Total market size 8 3.3 Market need 8 3.4 Estimated segment size 9 Using a product development process 10 Process application – Opportunity identification and selection 10 Concept generation 10 Concept/Project evaluation 10 Defining the product protocol 11 Conclusion 12 Recommendations 13 References 14 Executive Summary New product development in tourism companies has been a nearly ignored theme in tourism marketing. Research on product development has in major studies handled destinations, development of resorts or sites as a total tourist product. We will aim to identify the major problems as well as key phases of the new product development process in tourism. We will have the challenge to innovate more and more attractive activities to fulfil the customers’ needs for emotional experiences. The theoretical framework is based on the traditional product (and services) development theory, which suggests it to be a process of following stages: idea generation, service concept development and evaluation, business analysis, service development and testing, market testing, commercialisation and post introduction evaluation. We will evaluate the usefulness of the traditional product development model in the direction of creating a service to give adventurous experiences to tourists. INTRODUCTION The service concept, the core product is built on an idea of...
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...Leadership in an organisation 1.1 Research Background The highly competitive market economies have continuously forced majority of organisations around the globe to find various strategies on improving themselves in terms of operations and performance. This is not only vital for meeting their organisational objectives, but also for sustenance (Zheir et al, 2012). Previous researches and studies claim that leadership is the key factor for an organisation or business to survive, operate and perform in today’s competitive market (Ximane,2015);(Bass,1990);( Jung, 2002). Furthermore proper leadership is the strategic element in increasing and achieving organisational goals (Bass &Avolio, 1995) ;( Yousef, 1998). On the other hand, some researches and studies contend that organisational leadership is an embellished concept in that it is not necessary in attaining organisational performance since there are other internal and external factors that come into play ( Ismail et al,1998; (Bass& Avolio,2002;(Munjis,2011). A number of researches and studies have been carried out to demonstrate that leadership and organisational performance, commitment and innovation go hand in hand (Judge, Bono, Ilies and Gerhardt, 2002; Judge and Piccolo, 2004; Keller, 2006; McGrath and MacMillan, 2000; Meyer and Hepard, 2000; Purcell, Kinnie, Hutchinson and Dickson, 2004; Yukl, 2002). Conversely, some studies for instance, House and Aditya (1997) suggest that is not a key factor in achieving organisational...
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...PhotoDrive Pro Product Development Plan 1. Product/Service Description • PhotoDrive Pro • Combines several useful products • Portable flash drive ranging from 128GB to 1TB • Aimed at professional photographers, videographers, heavy consumer users • Combines storage with a screen, flip-out keyboard and computing power • Long battery life • Good for field use • Idea came about as a bridge between a portable hard drive and a laptop • A family member expressed a need that was unmet in the market place • This was a "light bulb" idea of streamlining camera equipment while filling a functionality niche 2. Benefits • Four main benefits: portability, functionality, risk reduction and portable storage • Portable storage is the basic benefit • Functionality is a differentiating benefit, especially the computing power • Consumer devices are filling ever-smaller niches based on specialized functionality • Risk reduction because it is relatively impervious to adverse weather • Great for photographers in volatile climates such as rainforests, deserts and frozen areas • Also safe from crime compared to a laptop • Portability is relative to laptops • Allows the photographer to leave the laptop at home • Premium product with advantage in its features 3. Competitive Analysis • Competitive environment shaped by any firm that could potentially launch a similar product • No competition...
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...Part 1 Project objectives and overall research approach 1.1 Introduction The topic chosen for the Research and Analysis Project is The Marketing Strategy of Shiseido China Co., Ltd (Shiseido) and its effectiveness. Marketing is essentially about marshalling the resources of an organisation to meet the changing needs of customers on whom the organisation depends. Organisations try to identify customers’ needs and develop products that will satisfy these needs through an exchange process (Palmer, 2004). 1.2 Reasons for Choosing the Topic Marketing is more than selling and advertising. It involves satisfying customer needs. The marketer should understand consumer needs; develop products and services that provide superior customer value; and price, distribute, and promote them effectively. Hence, marketing is the process by which companies create value for customers and build strong customer relationship to capture value from customers in return (Kotler et al., 2009). The main role of marketing in the organisation springs from the fact that marketing is the process via which an organisation creates value for its customers. Value is created by meeting customer needs. Thus, an organisation must define itself not by the product it sells, but by the customer benefit provided. Having created the value for its customers, the organisation is then entitled to capture a portion of that value through pricing. To remain a viable concern, the organisation...
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...Development and Implementation of Marketing Information System Within Innovation: The Increasing of Innovative Performance Ondrej Zizlavsky Brno University of Technology Czech Republic 1. Introduction In his work, a prominent Czech expert on innovations, (Valenta, 2001), reached the conclusion that current tougher and tougher competition, globalization of production and markets, as well as implementation of new technologies mean that the success of businesses is dependent on effectiveness and intensity of innovation activities. Innovation is a process that is created via interactions between various actors, e.g. (Dolourex, 2004) and represents an important element of a company's future success. Each innovation is unique and specific for every entrepreneurship. American authors warn that innovation is more than just an idea or thought. It is bringing an idea to life (Tidd & Bessant, 2009). Currently, innovation is considered a decisive condition of a competitive advantage in entrepreneurship. This is stressed by prominent Czech, as well as foreign experts; e.g. (Hamel & Green, 2007; Kislingerova, 2008; Kosturiak & Chal, 2008; Skarzynski & Gibson, 2008). The course of the fading economic crisis that negatively impacted operation of current business unambiguously supports the inevitability of innovations. A company that strives to maintain and strengthen its position on the market has to implement a suitable innovation policy that would enable it to achieve a more advantageous position...
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...PHARMACEUTICAL INDUSTRY – AN OVERVIEW 1. Overview The Indian Pharma industry is one of the fastest growing sectors with approximately 20,000 manufacturing units. The industry that is highly price sensitive ranks thirteenth in the global pharmaceutical market in value terms and fourth in volume terms. The country has tremendous export potential in the areas like custom synthesis, R&D, clinical trials, and Bioinformatics. The industry produces 60,000 finished medicines and roughly 400 bulk drugs, which are used in formulations with about 20% of the manufacturers in the bulk drugs segment. India has approximately 1% share of global pharma industry, which is worth US$406 billion. This implies that there is a huge market waiting to be unfolded. The figure below explains the evolution of Indian pharmaceutical industry: Figure 1: Progress Of Indian Pharmaceutical Industry Source: Pharmabiz.com (Article by Dr. Laxman Prasad) 2. Industry Structure and Size 2.1 Industry Structure The Indian Pharma industry is highly fragmented and can broadly be classified in to two categories: organized and unorganized sector. Figure 2: Revenues of Organised vs. Unorganised Sector Source: Secondary Research The organized sector contributes about 70% of the total revenues and consists of 260 units in both manufacturing as well as formulation segment. This sector can further be divided into Indian and multinational companies. The unorganized sector is highly...
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...NEW SERVICE PRODUCT DEVELOPMENT As to define service, it is an act or performance that one party offers to another that is essentially intangible and does not result in the ownership of anything – Philip kotler TYPES OF NEW SERVICES Major or radical innovations- are new services to market as yet undefined eg. First broadcast television services Start up businesses- new service for a market that is already served by existing product eg.online banking for financial services New services for the currently served market- attempts to offer existing customers of the organisation, a service not previously available from the company eg. Barnes and noble offering coffee. Service line extension- augmentation of the existing line. Eg. Restaurants adding new menu items, an air line offering new routes. Service improvement- changes in features of service that are already offered. Eg. Extended hours of service(24*7), added amenities in a hotel room Style changes- the most modest service innovations which have a significant effect on customer perception, emotion and attitude. Eg. Changing the color scheme, revising the logo SERVICE PRODUCT DEVELOPMENT Research suggest that products that are designed and introduced in a structured planning framework have a greater likelihood of ultimate successthan those not developed within a framework. NEW SERVICE DEVELOPMENT PROCESS Front end planning includes business strategy development or review, new service strategy development, idea generation...
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...Marketing Research MKT/421 May 21, 2012 Ron Rosalik Marketing Research Kudlers Fine Foods “Research is to see what everybody else has seen and to think what nobody else has thought” (Szent, 2012). Kudlers Fine Food’s mission is to “provide their customers with the finest selected foodstuff, wines, and related needs in an unparalleled consumer environment” (Kudlers Fine Foods, 2008, para. 2). Kathy Kudlers, the founder of Kudlers Fine Food’s is enthusiastic about gourmet cooking. Opening for business, in 1998, since that date, continues to claim success with three accompanying locations, undergoing substantial growth by offering gourmet imported and domestic products. Operations proficiency is Kudlers goal, which in turn will increase profits. In order to reach objectives, Kudlers must focus on marketing strategies, tactics to promote the company’s new services. We will examine the marketing strategies and tactics, additional areas of needed marketing research, and identify the importance of competitive intelligence. Importance of Marketing Research Kudlers fine foods must focus on marketing research to introduce new products and find out customers’ needs and wants. Kudlers fine foods create a plan, accomplishing this specific task of creating a marketing strategy in a process of six steps. These include problem definition, developing an approach to problem, research design formulation, fieldwork, data preparation and analysis, report generation and presentation....
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...Market Research and Product Development By Kevin Ofor Abugu PhD Student – Cardiff Metropolitan University Introduction Organisations invest in new product development to ensure their future success in the market. Nevertheless most of the new products introduce into the market are more likely to fail than succeed (Viaene, 1999). Hoban (2002) posits that only one-third of the new products launched survive. Young (Ibid) states that the rate of new product failure is as high as 90 to 95 percent. The failures of the new products in mobile industry, automobile industry, beverage industry, etc. are few examples. Hence a thorough market research should be employed to precede new product development (Cooper & Klienschmidts, 2000). This elucidates the importance of market research in new product development (NPD). Companies must continuously acquire market information to be able to adapt a new product into the market (Cooper & Klienschmidts, Ibid). Such effort is expected to bring the customers’ need, wants and perception into the new product development process. For example, Cisco introduced a system through which her B2B customers share their ideas, design and order products online. Similarly, IBM introduced a forum through which her customers exchange information concerning the development of a new product. The information gathered through the various means is transmitted to the R&D through the communication with marketing. Marketing research acquires customer information...
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...Food Marketing APEC 4451 Fall Semester 2010 New Product Development Process Targeting and Segmentation Dennis J. Degeneffe The Food Industry Center University of Minnesota Why Introduce New Products? • The Case For Introducing New Products – – – “Organic Growth” - Shareholder value Competitive Position Capacity Utilization • The Case Against Introducing New Products – – Risk – the odds against success • High Odds of Failure* • High Cost of Failure “Cannibalization” of existing business. • Therefore introducing new products is a risky business! New Product Development Process • A systematized approach for the development of new products to manage risk. • A general approach that is followed by most major consumer goods companies. – Includes the infusion of creativity… – … and the rigor of evaluative decision points – or “Stage Gates” New Product Development Process Overall Process is made up of 8 stages. Opportunity Identification Idea Generation Concept Development Concept Concept Testing Product Development Positioning Development STM Confirmation Advertising Testing Test Test Marketing Commercialization New Product Development Process … Some are “developmental” sages, and some are “evaluative” stages. Opportunity Identification Idea Generation Concept Development Concept Testing* Product Development Positioning Development STM Confirmation Advertising Testing Test Marketing* Commercialization *”Stage Gates” ...
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...Mini Project #1 Ci: Conscientious Innovation is a Sustainability Research Consulting Business based in Vancouver, Portland, and New York. Their objective focus is on relationships between the consumer, brands, and sustainability, in order to direct a creative and positive shift into today’s business world. Conscientious Innovation has created what is called “The Shift Report,” which is an ongoing research idea, primarily focused on psychological influences on market behavior North America. From The Shift Report, came the Sustainability Passion Index, which is a market segmented into five specified segments that relate to ones own values, beliefs, and attitudes towards sustainability. The five segments include, The Vocal Globalist, The Causal Spectator, The Pragmatic Believer, The Hyper Local, and The Self Serving Non Believer. After reviewing the Sustainability Passion Index, I am convinced that I would fall into the segment, “The Self Serving Non Believer.” The most important aspect in my life is my relationships with my family, and friends. I grew up in a culture where I inherited the idea that family and friends are of the up-most importance. They are your support and direction. Although there are times when you will be disappointed and resentful towards these individuals, it is they who are at your side to laugh and cry; to support and encourage; and to keep you grounded during times of hardship, and joyfulness. Due to the quality of my relations I find that...
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...Canadian book publishers used __________ to save the industry. | | | Student Answer: | | advertising | | | | sales promotion | | | | publicity | | | | marketing research | | | | tactical support | | Instructor Explanation: | Page 199 – 200 The Canadian publishers could use marketing research to identify and define both marketing problems and opportunities and to generate and improve marketing action. | | | | Points Received: | 3 of 3 | | Comments: | | | | 2. | Question : | (TCO 1) A conscious choice made from among two or more alternatives is called a | | | Student Answer: | | dilemma | | | | quandary | | | | decision | | | | paradox | | | | predicament | | Instructor Explanation: | Page 200 Key term definition decision | | | | Points Received: | 3 of 3 | | Comments: | | | | 3. | Question : | (TCO 1) During the marketing research process, __________ are the specific, measurable goals the decision maker seeks to achieve in conducting the marketing research. | | | Student Answer: | | measures of success | | | | research objectives | | | | marketing research plans | | | | decisions | | | | definitions | | Instructor Explanation: | Page 201 Research objectives are specific, measurable goals the decision maker seeks to...
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...required or a coeliac chocoholic (rather a lot them out there, it seems) is coming to dinner www.irishtimes.com.ditlib.dit.ie/life-and-style/food-and-drink/go-nuts-1.1874400 Product Description * Name: * Description: * The following nuts butter 1. Cashew nuts butter 2 Spiced maple Pecan butter 3 Nut –free mix seeds butter 2. Almonds &matcha tea Marketing research Methods of Data collection: Basically there are two methods of data collection: 1) Primary Data 2) Secondary Data Primary Data Collection: Primary Data is that data which is collected specifically for the project at hand. The primary data for the assignment resulted from the unstructured interviews that conducted from different friends and family members and also many strangers. Secondary Data Collection: Secondary Data is that data, which has already been collected for some other purpose but can be used as reference material. The secondary data for our assignment came from the internet, newspapers and magazine Objectives Provide our customers with the freshest, organically grown fruits and vegetables. Offer foods without artificial colors, flavors, or additives. Sell earth-friendly cleansers; pure, natural supplements; and gentle, cruelty-free body care products. Support organic farms that keep our earth and...
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...that a new entrant will encounter when entering the global automotive industry 3. Value Chain Analysis for Porsche’s organizational capabilities 4. Porsche Business models 5. Recommendations on future growth options Introduction The case study is aim to using a different frame work to analyse and interpret the Porsche primary and secondary activities in order to find out the company resources and capability for each segment. The resources and capabilities linkage will develop the core competencies for the Company. In further analyse, we will be able to identify competitive advantage which help the Company sustain in the business and its competitors. Barriers to entry that a new entrant will encounter when entering the global automotive industry The global automotive industry is unique and it request high competencies to enter in the industry. The competitive and challenges environment have created numerous of barriers for new entrant to enter the industry. One of the greatest barriers is capital requirement. The capital requirement is extremely high not only purchase physical manufacturing plants, raw materials and distribution, as well as hire and train employees. In order to compete with the industry leaders, the new entrants have to keep up with the latest innovations. Thus, it is involve huge investment in research and development. It is also difficult for new entrants to achieve economies scale compared to the existing market leaders. The market leaders...
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