For Pleasure Only Salon • Spa • Bar New Product/Service Development Plan Presented by: Christopher Amos Table of Contents Page 1. Executive Summary 2 2. Complete Product/Service Description 3 3. Benefits that customers will both recognize and realize 3 4. Competitive Analysis 4 5. Market-research steps necessary to test the concept 6 6. Safety or Health concerns with the use of your innovations 10 7. Development Strategy 10 8. Launch
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in a market and has a belief that it would succeed in the economy and on that belief he starts exploiting the opportunity. They may create a new organization or may be a part of an existing organization where they revitalize the organization in response to their perceived opportunity. Generally‚ the word entrepreneur is used to denote a person who starts a new business but with time and more understanding of the subject‚ the revised definition of an entrepreneur also includes “intrapreneurs”‚ that
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What is a Product? In marketing‚ the term “product” is often used as a catch-all word to identify solutions a marketer provides to its target market. We will follow this approach and permit the term “product” to cover offerings that fall into one of the following categories: * Goods – Something is considered a good if it is a tangible item. That is‚ it is something that is felt‚ tasted‚ heard‚ smelled or seen. For example‚ bicycles‚ cellphones‚ and donuts are all examples of tangible goods
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PRODUCT DEVELOPMENT Product development is define the creation of products with new or different characteristics that offer new or additional benefits to the customer. Product development may involve modification of an existing product or its presentation‚ or formulation of an entirely new product that satisfies a newly defined customer want or market niche. (BusinessDictionery.com) Product Development System An effective product strategy links product decision with cash flow‚ market dynamics
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marketing.” - Malhotra (2003) Importance of Marketing Research Introducing new products into international markets Uncovering international opportunities for existing products Ensuring marketing decisions are made on the solid foundation of knowledge BLUNDERS IN MARKETING (1) A Japanese hotel notice board: “You are invited to take advantage of the chambermaid”; Acapulco hotel notice board: “The manager has personally passed all the water served here”; A Bangkok dry cleaner shop: “Drop
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marketing”. Discuss The success of a product is always determined by how well it’s marketed. In that case marketing has an important role in every product that we produce. But when ethics is associated with marketing‚ it can’t go on one direction. It is like oil and water which does not mix together. What is marketing? Marketing is a societal process by which individuals and group obtain what they need and through creating‚ offering‚ and exchanging products and value with others (Kotler‚2002).
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Consolidated Products Case Analysis Abstract This brief paper’s objective is to analyze the managerial behavior of two managers‚ Ben Samuels and Phil Jones‚ who worked for Consolidated Products plant. The analysis will concentrate on how these individuals displayed their specific relation-driven behaviors‚ and specific task-oriented behavior‚ and the subsequent managerial grid model. In addition‚ this paper will describe and compare to what extent each manager used participative or inspirational
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on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do. (customer focus and value are the path to sales and profits) The marketing concept is a customer-centered sense and responds philosophy. (The job is to find the right products for your customers.) My project company Samsung took the marketing concept and connect with its customers. Samsung chooses to concern more about customers’ need and invent products that solve customers’ problems
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dog-eat-dog market for every organization. Innovative can be everything that is new and not exist in current market‚ however in order to fulfill the gap in this demanding market‚ organizations must be very innovative to come out with new products and services. Organizations nowadays are recruiting employees who are creative and innovative because they are person who have sensitive antenna to sense and observe what the people want and need. In current market‚ thermos water bottle is very common for people
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global‚ cross-functional team at Cisco Systems‚ Inc. was seeking the green light to start manufacturing a new router‚ code-named Viking. The team faced a number of challenges in launching the low-cost but powerful router for telecommunications service providers. After overhauling the project to sharply increase the router’s planned speed and capacity‚ the company had just one year to launch the product‚ an unusually fast schedule. In addition‚ Viking team was proposing that manufacturing be launched in
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