PT 2: STRATEGY AND PRODUCT DESING AT REGAL MARINE Date: Thursday‚ October 25th Instructions: • • • Please‚ read very carefully and thoroughly this document. Before class‚ you must read the case study. During the class‚ we will watch some videos related to the case study to complete the information about the company and you will have to work in groups to solve the discussion questions. Class notes are allowed for this practical teaching. For this practical teaching each group must hand in a report
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They are not developing products fast enough. Each functional team independently judging the viability of the product. The status of the project was never clear cut. * Different departments have different goals. Plant Managers are looking in gross margins. Sales departments focused exclusively on volume with no concern for gross margin * The lack of co operation and dis trust between Product development Marketing causes delay in development of new products * Spichty is not
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D.U. Singer Hospital Products Corp. has done sufficient new product development at the research and development level to estimate a high likelihood of technical success for a product of assured commercial success: A long-term antiseptic. Management has instructed Singer’s Antiseptic Division to make a market entry at the earliest possible time: they have requested a complete plan up to the startup of production. Marketing and other plans following startup of production are to be prepared separately
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stages of New Product Development 1. Idea Generation is often called the "NPD" of the NPD process. Ideas for new products can be obtained from basic research using a SWOT analysis (Strengths‚ Weaknesses‚ Opportunities & Threats). Market and consumer trends‚ company ’s R&D department‚ competitors‚ focus groups‚ employees‚ salespeople‚ corporate spies‚ trade shows‚ or ethnographic discovery methods (searching for user patterns and habits) may also be used to get an insight into new product lines or
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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
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Donatos: Finding the New Pizza The case analyzed this week‚ presents “the introduction of Donatos low-carbohydrate pizza‚” and how company got out of its comfort zone to take advantage of the new fit people era. Donatos Pizza responded to the low-carbohydrate diet craze with its new “NoDough” pie. “The chain based in this Columbus suburb has tested the new pizza at stores in the suburban Upper Arlington and Westerville‚ and then rolled it out at most of its 184 locations later this month. Instead
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Gunter MGMT 423 1/20/2015 New Coke Case Study The failure of the introduction of New Coke raises the question of who was responsible for this notorious flop. The efforts to launch a new product began as a tactic to combat Pepsi’s taste test marketing campaign‚ in which consumers where shown preferring the taste of Pepsi over the original Coke product. This campaign contributed to Pepsi gaining significant market growth. Coke chose to respond by creating a new product that was preferred over both
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Define the product : Baby powder What is its function? What problem or opportunity does it solve? What is its name/brand? The width of Freshness’ impact Audience Secondary Targets Main needs How to spread the Freshness trend? What Marketing trends to use? Though what means of communication? Main problems: What regulatory or trade association issues or restrictions? Freshness’ final campaign Bibliography Pre-seminar Assignment I. Define the product : Baby powder
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Table of Contents EXECUTIVE SUMMARY i PRODUCT 1 The new product process 1 1.1 Stages in the new-product process 1 New product strategy development 2 Objectives of the stage 2 Identify Markets and Strategic Roles 2 Cross-functional teams 2 Idea generation 3 Customer Suggestions 3 Employee and Co-worker Suggestions 3 Research and Development Breakthroughs 4 Competitive Products 4 Screening and evaluation 5 Internal Approach 5 External Approach
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New Product Planning and development New products are a vital part of a firm’s competitive growth strategy. Leaders of successful firms know that it is not enough to develop new products on sporadic basis. What counts is a climate of a products development that leads to one triumph after another. It is commonplace fro major companies to have 50percent or more of their current sales in products introduced within the last 10 years. Some Additional facts about new products are: • • • • • Many new products
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