Portakabin case study
4/4/2013 Xingyi ZHANG
1. Describe the different techniques that organizations might use in order to develop new product ideas. � Market research, the systematic process of collecting and analyzing primary and secondary data about customers and their relationship with products and brands. � Research and development, the process of convincing, developing and testing possible new products. � � Monitoring the actions of competitors. You can get inspirations from your rivals. Identifying a gap in the market, which is a place within a market where nobody has sold before. Market research and further segmentation of markets helps to identify new groups of customers. � � Direct feedback from customers. Technological developments. Using latest technology to make R&D process better.
2. Explain the alternative marketing strategies that an organization could undertake in order to develop business opportunities. � Market research, the systematic process of collecting and analyzing primary and secondary data about customers and their relationship with products and brands. Market is where demand and supply meet and it’s also where business exists. So knowing the market better can bring the company more chance to make more profits. � Providing a variety of benefits beyond the basic needs of customers. Serving the total product more effectively through more add value. � Based on Ansoff’s matrix, four alternative marketing strategies are suggested. They are market penetration, product development, market development and diversification. a) Market penetration. This can be chosen when a company wants to sell established products in established market. b) Product development. This involves developing new products for existing market. c) Market development. This strategy entails finding new markets for existing products. d) Diversification. This involves moving new products into new markets at the same time. � Technological developments. The using of up-...
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