Identifying key factors for new product success It is well known for us that new product development is always the key for companies’ success or even survival. And the new products don’t need to be the totally new products‚ companies can just make some improvements‚ improve customers’ experience‚ or exchange a new color‚ shape to bring to customers new satisfaction and benefit. Then customers will not be tired of something‚ and customers are always the focus of marketing. But new product development
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Successful new products can enhance the success of an organization‚ and product introduction is critical to that success. With a failure rate of new products estimated as high as 50% at launch (Cooper and Edgett‚ 1996)‚ new product launch strategies are critical to new product success; or‚ as Delre‚ et.al.‚ (2007) suggest‚ “the initial phase of market penetration is a critical moment for the future direction of a product. A fast and substantial takeoff can guarantee a competitive advantage.”
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New Product Development for Microfinance: Design‚ Testing‚ and Launch Technical Note Number 2 New Product Development for Microfinance: Design‚ Testing‚ and Launch by Monica Brand ACCION International October 1998 This work was supported by the U.S. Agency for International Development‚ Global Bureau‚ Economic Growth Section‚ Microenterprise Development Office‚ through funding to the Microenterprise Best Practices (MBP) Project‚ contract number PCE-C-00-96-90004-00. i ACKNOWLEDGMENTS
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New Product Launch Marketing Plan‚ Part II New Product Launch Marketing Plan‚ Part II Digital Display Corporation (DDC) is launching an innovative product that will display caller identification of cellular phone calls in the automobile windshield. DDC is in the process of performing a market segmentation of potential consumers of the product. The organization must understand decision motivators and buying behaviors of customers. DDC will develop a tactical plan to manage each stage of the
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A product launch should be evaluated using a business case that is built around the future expected cash flows. However‚ from a portfolio perspective there are some factors that must be considered in forecasting the future expected cash flows. • Cannibalization As new products arrive‚ the revenue and costs involved should not be looked at in isolation. There can be ripple effects across the business where a new product cannibalizes sales from existing products. For example‚ the launch of a new
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NEW PRODUCT LAUNCH: UB GROUP – SOFT DRINK “MIST” COMPANY OVERVIEW United Breweries Limited (UBL) - has assumed undisputed market leadership with a national market share in excess of 50%. Through a process of aggressive acquisition and market penetration‚ The UB Group today controls 60% of the total manufacturing capacity for Beer in India. The flagship brand‚ Kingfisher is now sold in over 52 countries worldwide having received many accolades for its quality. MACRO-ENVIRONMENTAL ANALYSIS
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However‚ the problems arise in identifying the system of new product success measures. The point is not in the deficiency of individual measures‚ but in imprecise definition of the subject of measures as well as in inadequacy of result interpretation. Isolated measures that are not integrated in the system of performance measures of enterprise as a whole‚ distort the picture of efficiency and effectiveness of enterprise. This is especially related to the new product success evaluation. Attempting to overcome
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Key Success Factors of PSO: • We believe that excellence in our core activities emerges from a passion for satisfying our customers’ needs in terms of total quality management. Our foremost goal is to retain our corporate leadership. • We endeavor to achieve higher collective and individual goals through teamwork. This is inculcated in the organization through effective communication. • We are an Equal Opportunity Employer‚ attracting and recruiting the finest people from around the
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Key Success Factors Retailer Industry Number of Rivals Wal-Mart’s primary competitors were Kmart and Target. Wal-Mart also competed against category retailers like Best Buy and Circuit City in electronics‚ Toy “R” Us in toys‚ Kohl’s and Goody’s in apparel; and Bed‚ Bath‚ and Beyond in household goods. It also competed against warehouse club segment like Costco Wholesale‚ Sam’s Clubs and BJ’s Wholesale Club. Internationally‚ Wal-Mart‘s biggest competitor was Carrefour. Scope of Rivalry Wal-Mart
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AirAsia‚ one of the Malaysia’s low cost airlines. The case study below provides some basic background information. You are however encouraged to source more information about the low-cost airline concept‚ the Malaysia airline industry and AirAsia’s key competitors‚ Tiger Airways‚ Jetstar and Firefly. Ten marks (10) will be allocated for the technical quality of the assignment and students will be penalized if the answers exceed the maximum length requirements. QUESTION 1 Identify and briefly
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